Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Sukuk growth may be blunted by UAE's tighter standards: S&P

Standardization issues could be resolved “once and for all” through an initiative by Dubai and its partners

Second additional offering of Alkhabeer Reit Fund

The subscription period will extend for 15 working days

Islamic social financing in the COVID-19 era and beyond

This diversity calls for immediate action everywhere, but it requires more solidarity and multilateral action than ever.

Saudi-listed companies see total profits surge 44% in Q1 2021

The listed firm reported total net profit was $28.77bln compared to $19.96bln achieved during the same period in 2020

Sharjah’s investment ecosystem keen to woo Chinese businesses

Welcoming the virtual gathering, Al Musharrkh emphasised that since the establishment of bilateral relations in 1984, the UAE has emerged China’s largest non-oil trading partner in the Mena region.

4 banks acquire 90% of Islamic banking in Egyptian market

Faisal Islamic Bank of Egypt ranked first with EGP 119bn turnover in March 2021

ADIB registers profits in Q1

This marked a Year on Year (YoY) rise of 43%

Bahrain: GFH Financial Profits Up 217%

GFH Financial announced Tuesday its financial results for Q1 2021, which ended on March 31.

Al Baraka Banking B S C : Group records a net profit of US$ 26 million attributable to shareholders, for the first quarter of 2021

The basic and diluted earnings per share for the first quarter of 2021 was US Cents 2.11compared to US Cents 1.97 for the same period of 2020.

Kuwait Finance House Introduces Digital Wallet Service, Supported via Smartphones with Assistance from Samsung, FitBit, Garmin

The holders of KFH Visa ATM, credit and prepaid cards and also Mastercard cards (except ATM) now have the option to try out payments with the wallet – which is reportedly compatible with NFCs locally and internationally.

Ajman Bank launches its first dedicated wealth management branch in Dubai

Equipped with outstanding facilities to enhance the HNW visitors' experience

World's Best Islamic Financial Institutions 2021

Islamic financial institutions coped well under pandemic conditions and found that prior tech investments paid off.

More than 51% of traded constituents make gains on QSE

The Islamic index was seen declining faster the main index in the market, which saw the consumer goods sector alone constituted more than 51% of the total trading volume.

Bank of Sharjah Group reports Dh666 million consolidated net loss in 2020 from provisions in Lebanon

Consolidated loss stems from application of hyperinflation effect on Lebanese subsidiary

ADIB eyes sustained growth with 125% Q1 net profit surge

The bank said the net profit growth reflects the strong underlying performance across the business

Dubai Islamic Bank profit down year-on-year but quarterly growth brings cheer

The first quarter of 2020 was the last before the full-blown onset of the COVID-19 pandemic.

Moving away from LIBOR: Islamic Development Bank issues SOFR-linked sukuk

IsDB' s debut SOFR-linked Sukuk is a 3-year Floating Rate Note that raised $400mln from a single investor on a Private Placement basis

UAE’s Emirates Islamic Bank posts 37% rise in Q1 net profit

The bank’s operating profit dipped 12 per cent y-o-y to Dhs319m

Saudi Arabia's Al Rajhi Bank reports 40% increase in Q1

Saudi Arabia's biggest Islamic lender said net profit in the three months ended March 31 to $890.60mln

Sharjah Islamic Bank records 7% higher profits in Q1-21

Bank's net income from financing and investment products jumped by 17.6%

Islamic Finance