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

Kuwait Finance House sees 90 pct profit jump after Bahrain deal

It will create the largest banking entity in Kuwait with assets of about $94 billion, and the sixth largest bank in the Gulf region.

Dubai Islamic Bank successfully closes AT1 Perpetual Sukuk

The landmark issuance was subscribed nearly 5 times with around 40% interest generated from Asian and European investors

New standards could have unintended risks to issuers

Sudden regulatory disruptions could slow down sukuk issuance

Saudi’s largest lender NCB posts 3.5% rise in Q4 profit

The bank, which is in merger talks with Riyadh Bank, made a net profit of SAR2.65bn in Q4

New Iraqi bank Al Mustashar goes live with ICSFS core system

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.

Al Salam Bank-Bahrain receives two top awards

The awards are a strong testament to the Bank’s performance and continued excellence.

Standalone UAE Islamic banks unlikely to merge: analysts

A potential three-way merger led by Abu Dhabi Commercial Bank, and involving Union National Bank and the standalone Shariah-compliant Al Hilal Bank, is still in talks.

Sukuk issuance holds steady

The complexity surrounding the sukuk issuance deters some from the process, while the path of oil prices and tighter liquidity are key to its market performance in 2019

Emirates Islamic posts record $251m net profit

Our strong performance this year has been capped with the highest ever recorded net profit of AED924 million, since our inception in 2004.

Qatar raises 4 billion riyals in five-year sukuk

Earlier on Thursday it announced an additional sale of 5 billion Qatari riyals in five-year treasury bonds offering the same yield.

Qatar Islamic Bank Q4 profit rises 19 pct

An average of three analysts polled forecast the bank would make a quarterly net profit of 682.2 million riyals, according to Refinitiv data.

Dubai Islamic Bank starts marketing dollar sukuk

The Additional Tier 1 sukuk are perpetual, meaning they lack a maturity date, and are non-callable for a six-year period.

Qatar Islamic Bank Q4 profit rises 19 pct

It made a net profit of 750 million riyals ($206.0 million)during the three months to Dec. 31

QIB net profit jumps 14.5% to QR2.75bn y-o-y in 2018

QIB Board of Directors proposed a dividend distribution to shareholders of QR5 per share, which is 50% of the nominal share value, subject to approval of Qatar Central Bank and QIB’s General Assembly.

Progress in the Saudi Islamic finance industry

Full-fledged Islamic banks still retain the lion’s share of the industry, accounting for 71 percent of total assets, but their growth has been muted.

Dubai Bank Wins Right to Swap Abraaj Debt for Fund Stakes

Noor Bank will hold the stakes alongside other investors and limited partners

Young GCC nationals spearhead growth in Sharia investing

The wider Middle East account for 10 per cent of the total wealth in Islamic investments

Sharjah enhances offer for Invest Bank, shareholders to vote on January 8

UAE Central Bank asked Invest Bank to book provisions worth Dh2.199b

GCC Islamic banks show stronger growth than conventional peers: Fitch Ratings

About 89% of IDRs are driven by potential sovereign support either directly or via a parent.

Islamic finance hubs in GCC, Southeast Asia come closer

In the banking industry alone, Malaysia targets to reach 40% Shariah-compliant banking assets as share of overall banking assets by 2020

Islamic Finance