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

Dubai outlines plans to unify legal framework for Islamic finance

The Islamic economy accounted for 9.9 per cent of the emirate's total GDP in 2018

DIB sells first sukuk in emirate since virus outbreak

DIB said almost half of the order book originated from outside the Middle East and North Africa region.

Baker McKenzie advises UAE insurance firm on AED 215 million buyout

The financial benefits of the acquisition agreement will be realised following successful completion of the deal, and when both insurance companies are fully merged under the Dar Al Takaful umbrella.

Dubai Islamic Bank successfully closes $1 billion sukuk

The 5-year sukuk was priced with a profit rate of 2.95 per cent per annum

Abu Dhabi's Al Hilal Bank sells its Islamic insurance subsidiary

Deal sees Siraj Holding acquire Al Hilal Takaful

Dar Al Takaful to acquire Noor Takaful for AED215 million

Given the complementary nature of the business of DAT and the Noor Takaful companies, DAT expects to generate synergies from the transaction.

Dubai Islamic Bank hires for US$ Reg S sukuk

The senior unsecured notes will be issued under DIB Sukuk’s US$7.5bn Trust Certificate Issuance Programme, subject to market conditions.

Dar Al Takaful to buy Noor Takaful for Dh215m

The Dubai-listed Islamic insurer says it expects the deal to conclude by the end of the month

Growing appetite for Shariah-compliant banking, takaful products in Qatar: OBG

The Qatar Central Bank signalled its intent to create a centralised standards body for IFS in 2020, OBG said in its ‘The Report: Qatar 2020’.

Moody’s affirms QIIB rating at ‘A2’ with stable outlook

The Qatari economy, which succeeded in combating the blockade and turned it into rich opportunities, positively reflected on the various economic sectors, particularly the banking sector.

Saudi Islamic Banks' Financial Metrics Deteriorated, but Sound

Islamic banks' profitability metrics remained above conventional banks' in 2019.

These 9 UAE companies rank among the world's Top 2,000

First Abu Dhabi Bank, the largest lender in the country, is ranked first in the UAE, fourth in the Arab world and 303rd globally.

Instant protection for your family through the QIB mobile app

Once customers successfully apply and complete the required simple steps, the policy issuance is managed and integrated directly with Beema’s online system.

Islamic trade finance body spent $5bn for development last yearMay

The ITFC has been mainly focusing on OIC member countries in Asia and Sub-Saharan Africa last year with the aim of making global value chains more purposeful in the role they play in reducing rural poverty and ensuring food security.

Emirates Islamic offers free international money transfers

All bank fees and corresponding network charges will be waived

Al Salam Bank-Bahrain’s ASB Global REIT Fund posts record 25.75% total return in 2019

Record year for the ASB Global REIT Fund

Al Rajhi Bank first-quarter profit slides on higher operating expenses and impairment charges

Provisions for bad loans climbed 78% to 693m riyals during the reporting period

World's Best Islamic Financial Institutions 2020: Fair Winds Before The Storm

Islamic financial institutions maintained good growth and higher profit in 2019, fortifying them for the difficult year ahead.

Virus crisis highlights potential role of Islamic finance in reaching sustainable development goals

As a background, the UN has formulated the SDGs as a playbook to address and eventually overcome a wide range of global economic, social, governance and environmental challenges by 2030.

Abu Dhabi Islamic Bank first-quarter profit plunges 55%

Credit provisions and impairments for the three months ending Mar 31 increased to 387.1 million dirhams versus 186.4 million dirhams for the same quarter in 2019.

Islamic Finance