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

Emirates Islamic Bank hires banks for 5-year dollar sukuk - document

It hired Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered to arrange investor calls

KFH–Bahrain Launches A First-Of-Its-Kind Islamic Securitization Program

The Securitization Program has been designed in a way that can also be used for nonKFH-Bahrain financing portfolios, where the Bank acts as an arranger.

QIB honoured at The Asian Banker’s prestigious award ceremony

This is a testament to the significant progress QIB has made in establishing itself as a leading banking institution in the Middle East while maintaining its leadership position in Qatar.

Bahrain offers dollar bond, sukuk to plug growing budget gap

Bahrain likely to offer 7-year sukuk, and 12-year and 30-year conventional bonds

ADIB Securities receives 5-Star Brokers Excellence Rating from DFM

This prestigious rating, which is one of the highest in the industry, is another outstanding testament to the service excellence that we provide to our customers."

Qatar Islamic Bank announces competitive Home Finance offer

Customers applying for QIB’s Home Finance will also be eligible for the 12 months’ repayment grace period allowing them to own their home today and start paying the installments after one year.

Millennium launches international operations in Dubai

Millennium Information Solution Ltd (MISL), a major player providing game-changing core banking solutions for the growing Islamic banking sector, has set up its international operations in Dubai Internet City to serve the growing Shariah-compliant banking

Waha Capital launches income generating Islamic Fund

New open-ended Sharia-compliant fund to attract $500 million +

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.

Islamic Finance