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

Qatar’s Masraf Al Rayan reveals overwhelming response to its Sukuk issue

The issuance was priced at a spread of 185 basis points over the five-year mid swap carrying a fixed profit rate of 2.21 percent per annum.

KHCB signs Sukuk Murabaha agreement with BHB

Contributing to the reduction of time needed to complete transactions related to Murabaha financing

GCC sovereign sukuk issuance to rise in H2 2020

Full-year sovereign sukuk issuance expected to rise by more than 40% to $92 billion

SWFs see a more challenging investment environment in a bi-polar world

A fund sold by your bank is unlikely to be the best place to invest, so shop around for a better deal

Saudi Arabia finance ministry announces closure of August issuance of sukuk program

The issuance size of the sukuk program in August was set at 500 million riyals, the ministry said.

Strong sovereign support continues to drive most Islamic bank ratings

The outlooks on most IDRs are stable

Qatar’s Islamic banks fare well in 2019 balance sheet growth

The major three banks, which cover around 69% of the total banking sector assets, recorded a growth of 6.5% significantly higher than the banking sector average.

Al Salam Bank-Bahrain launches new mobile application

New app is just the latest instalment in the ongoing rollout of the bank’s digital strategy

Islamic banking boosts economies in the Middle East and North Africa

They can increase the savings of people who refrain from keeping money on deposit in conventional banks, which consistently increases the number of domestic savings and the share of financial intermediation.

Al Salam Bank reports BD 7.1 million net profit in first half of 2020

Total operating income for H1 2020 improved by 10% to BD 50.2 million, up from BD 45.6 million in the same period of 2019.

Qatar’s Islamic banks fare well in 2019 balance sheet growth

The major three banks, which cover around 69% of the total banking sector assets, recorded a growth of 6.5% significantly higher than the banking sector average.

Algeria turns to Islamic finance to prop up economy

Some Muslims believe that the traditional banking system is incompatible with their faith.

DIB Egypt's profit down 19% in H1-20

The lender’s net interest income increased

QIB continues to introduce new features on its award-winning mobile application

This solution allows QIB eligible customers to postpone their next three months’ personal finance installments and provides them the option of adjusting the new financing to take place after the maturity of their existing finance terms.

Bank ABC Islamic announces first half 2020 net profit of US$14.5 million

Net profit for the first half was US$14.5 million compared to US$18.9 million reported in the first half of last year.

Meet your business goals with Maisarah commercial finance

The commercial finance product adds to the diverse range of Shariah-compliant financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its retail and corporate customers.

Abu Dhabi Islamic Bank reports H1 2020 net profit of AED587.6 million

In the first half of the year, we recorded high levels of digital adoption across our retail and corporate banking, and nearly 60% of all our customers are now banking digitally.

Al Baraka Banking Group first-half profit falls as pandemic provisions soar 345%

Total assets nudged down by 1% to $26.13 billion from $26.26 billion at the end of 2019. The Group said it focused on maintaining a large portion of these in liquid assets amid challenges faced during the COVID-19 pandemic.

Bahrain's Sukuk Al Ijara oversubscribed

The expected return on the issue, which begins today and matures on February 4 next year, is 2.50% compared to 2.58 of the previous issue on July 9

Kuwait's KFH Q2 net income drops on rise in impairment charges

The lender postponed its merger with Bahrain's Ahli United Bank earlier this year

Islamic Finance