11/13/2020
Dubai Islamic Bank sells $1b in perpetual sukuk
DIB began marketing the notes at around 5.25% earlier on Thursday and received over $5.5 billion in orders for the debt sale, the document showed.
Islamic Finance
11/10/2020
Global sukuk issuance to decline slightly in 2020, says Moody's
The global sukuk market has grown rapidly from around US$80 billion to US$179 billion over the last four years, supported by large pools of sharia-compliant funds in the Gulf.
11/09/2020
Al Rajhi Bank calls off merger talks with MIDF
The decision comes as no agreement has been reached between the parties
11/09/2020
Saudi SABB Takaful Q3 losses widen 108%
During the period from January to September, the losses increased by 163.9%
11/04/2020
Will Noor Bank’s merger with Dubai Islamic Bank lead to layoffs?
Dr. Adnan Chilwan, DIB’s CEO said: “…we succeed in restoring all services before the expected time and with minimal impacts on customers.”
10/30/2020
QFB’s total income remains stable in third quarter
On the expense side, strict cost controls introduced by the Bank has resulted in a total reduction in expenses by 28 percent while enhancing the efficiency levels.
10/30/2020
UAE’s Etihad issues $600m sustainability-linked sukuk
The airline has committed to net zero carbon emissions by 2050 and a 50 per cent reduction in net emissions by 2035
10/28/2020
QIIB net profit reaches QR785mn at end of third quarter
QIIB posted a net profit of QR785mn at the end of the third quarter in September, compared to QR777mn during the corresponding period of 2019.
10/27/2020
DIB to suspend services for final merger phase with Noor Bank
The services will be suspended on October 28-31
10/26/2020
Boubyan Bank records operating profits ended September 2020
Bank continued its prudent approach
10/25/2020
Sukuk issuance seen recovering from COVID stress
Fitch projects issuance volumes in 2020 to reach 2019 level
10/23/2020
QIB successfully closes $750m 5-year Sukuk
The success of this transaction came on the back of a two-day marketing strategy aimed at updating international and regional investors with QIB’s strategy and financial performance.
10/22/2020
Etihad Credit Insurance launches 'ECI Islamic'--Shariah-compliant export credit solutions to boost UAE's halal trade industry
Launch of 'ECI Islamic' makes ECI one of the first sovereign export credit agencies in Middle East to offer Shariah-compliant Export Credit Insurance and Guarantee Solutions
10/21/2020
QIIB first Qatari bank to implement ‘SWIFT gpi’ payment system phase three
The Swift gpi service also provides “transparency and speed” allowing customers to know the foreign currency exchange rates and all fees related to their transfers, which can be completed with more speed and accuracy.
10/21/2020
Dubai Islamic Bank reports Dh3.12b 9-month net profits
Earnings squeezed by a 151 per cent year on year surge in impairments
10/14/2020
IIFM Publishes Ijarah Sukuk Standards
This IIFM Sukuk Al Ijarah Standards for Asset-Based Sukuk are a culmination of extensive industry assessment, market consultation, working group deliberation and Shari’ah guidance.
10/11/2020
Islamic syndications become attractive than sukuk in GCC
Compared to bank loans syndicated deals attract larger amounts for longer tenors
10/09/2020
Islamic Corporation for the Development of the Private Sector Completes Pricing for a 5-Year USD 600 Million Sukuk Issuance
This is the largest Sukuk issuance by ICD (Rated A2 (stable) by Moody’s; A (negative) by Fitch Ratings) since inception
10/05/2020
UAE Central Bank joins hands with Dubai Islamic Economy Development Centre to strengthen Islamic banking
CBUAE and DIEDC will work together to publish joint research and exchange knowledge
10/05/2020
Sharjah Islamic Bank wins two prestigious international awards
Sharjah Islamic Bank has recently won many prestigious and valuable awards in recognition of its innovative digital solutions and distinguished services