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

Islamic Financing Market to Witness Huge Growth by 2025

Al Rajhi Bank, Abu Dhabi Islamic Bank, Al Baraka Banking

Emirates Islamic announces First Half 2020 Financial results

Current and Savings accounts balances up 10% from end 2019

QIB posts QR1.42bn profit in H1; total assets reach QR165.8bn

QIB’s efficient risk management framework has ensured that the H1 2020 results have not been materially impacted by the events related to Covid-19.

Emirates Islamic lowers balance requirements for SMEs

These business owners can open account with minimum balance of Dh10,000

Turkey moving forward to broaden its Islamic finance base

A Fitch Ratings report issued back in March showed that growth in Turkish participation banking has already surpassed growth of conventional banks in the country in recent years.

Abu Dhabi Islamic bank provides exclusive offers to healthcare workers

These offers include a reduction on the profit rate and pricing discounts on some of the bank’s financial products

Saudi Central Banker Says ‘Too Early’ to Call Recovery V-Shaped

Believe in the resilience of the Saudi economy

UAE- Sharjah Islamic Bank records 55% increase in use of online services

Sharjah Islamic Bank offers a full package of online services through its official website and through its mobile banking solution which supports online payments through Samsung Pay or Apple Pay.

Emirates Islamic named ‘Islamic Bank of the Year – UAE 2020’ by The Banker

Salah Amin, Chief Executive Officer, Emirates Islamic said: “At Emirates Islamic, we are extremely pleased to be named ‘Islamic Bank of the Year – UAE 2020’ by Financial Times’ The Banker publication."

ADIB records surge in demand for digital banking services

These statistics indicate a fundamental shift in customer behavior, and an increase in demand for a convenient and contactless banking experience

Dubai Islamic Bank lists $300m sukuk on Nasdaq Dubai

There is a total of $71.09bn sukuk now listed on the exchange

UAE Islamic Banks: 2019 Results Dashboard

The financing impairment charges/average gross financing ratio increased significantly

QFTH open to include Islamic fintechs, SMEs in first wave of IAP

QFTH has started receiving applications from entities that are looking for a launch-pad in the Middle East to accelerate their growth.

Dubai Islamic Bank sells $300mln in 2026 sukuk reopening, document shows

It set final price guidance at 240-245 basis points over midswaps, tightening from initial price guidance of around 250 bps

Al Salam Bank-Bahrain tops key performance indicator rankings for GCC banking sector

Highest reduction in non-performing financing by any listed bank in GCC

Islamic finance to grow at slower pace in 2020-21: S&P

At the same time, we see an opportunity in the current environment for accelerating and unlocking the long term potential of the industry.

ADIB recognized as 'Innovator in Islamic Finance' by Global Finance Magazine

In recent years, ADIB has invested heavily in innovative banking solutions as part of a digital transformation strategy.

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.