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

Kuwait Financial House (KFH) Touts the Use of Ripple’s Payment Solution

An XRP community member, identified on Twitter as WrathofKahneman, reported this new development a couple of hours ago.

ADIB first Islamic bank to use Blockchain for trade distribution

As the only Islamic bank providing end-to-end Sharia’a-compliant trade financing through digital channels, ADIB is committed to expanding its digital footprint in trade financing and distribution, enhancing the efficiency and productivity of busines

Global sukuk issuance down 32% in Q1 2020, recovery expected in Q3

Market recovery expected in the third quarter with a total of $100bln sukuk issuance this year, says S&P

Islamic finance industry charts high-tech future

Based on the concept of shared profit and loss, the sector has in its relatively short existence grown to be worth $2.1tn

Islamic finance charts high-tech future

Islamic bankers are hoping modern platforms will open the industry up to young investors

Sharjah Islamic Bank introduces new and upgraded ATMs

The ATMs will feature NFC card readers as well as traditional card readers and will come with an Emirates ID reading and biometrics authentication capability.

Emirates NBD and Emirates Islamic jointly contribute funds to UAE Ministry of Education

Banks' contribution to provide students with laptops for distance learning during ongoing COVID-19 situation

Dubai Islamic Bank discloses Dh1.55 billion exposure to NMC

More banks admit loans to the troubled healthcare provider

International Islamic Trade Finance Cooperation provides US$850 million for COVID-19 Emergency Interventions for Organization of Islamic Cooperation (OIC) Member Countries in Most Need

Interim funds to be scaled up through close collaboration with strategic partners to offer trade finance and trade development solutions that meet the direct needs of member countries

Maybank Islamic’s new Dubai branch sets out to attract Gulf investors to Southeast Asia

Credit terms for some of the Maybank Group assets being sold to Gulf investors through the Dubai branch are “probably better than the credit they have seen before”.

Abu Dhabi bank taps Lazard to advise on NMC, Finablr exposures

Lazard to help the bank recover funds from the hospital operator

National Takaful Company “Watania” Earns 13.1 Million Dirhams in Net Profit for the Year 2019.

While announcing the financial results of the company, His Excellency Dr. Ali Saeed Bin Harmal Al Dhaheri, Chairman of the Board of Directors of the National Takaful Company “Watania”, said that the year 2019 has been challenging for the econo

Abu Dhabi Islamic Bank's shareholders approve increase in foreign ownership limit

Shareholders also approve a dividend of 27.38 fils a share for 2019

Moody's - GCC and Malaysia to drive Islamic finance growth

Saudi Arabia will remain the world's largest Islamic banking market, while the sector will continue to expand rapidly in Malaysia.

Khalifa Foundation receives donation from Dubai Islamic Bank

Al Khouri stressed that the foundation aims to strengthen its partnerships with government authorities, banks, companies, key sponsors and strategic partners to help mitigate the impact of the pandemic.

Al Salam bank AGM approves dividend distribution of 8% of paid up capital

The dividend distribution comprises of 4% cash dividends equating to BD 8.863 million and 4% bonus shares equating to 88.634 million shares (one share for each 25 shares in ASBB).

Bank Nizwa Discusses Growth of Islamic Finace With Local Treasury Dealers and Financial Institutions

Moreover, Islamic banking in Oman has shown robust growth with Islamic banking entities providing financing to a record of RO 4 billion by the end of 2019, a growth of 11%.

Al Wifaq International Islamic Bank selects ICSFS core banking package

The selection process took six months, where ICSFS showcased the most agile software application, embracing high security and scalability, dynamic product building, unified solutions with smooth processes across business lines and a wide range of digital

Emirates Islamic enhances digital leadership by launching the first branch with Interactive Teller Machines

Interactive teller machine offers extended branch hours, enhanced services with a human touch

ADIB launches new forex digital platform

ADIB has launched a new platform named ADIB Direct eFX to enable customers to get better online foreign exchange rates for international transfers

Islamic Finance