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

Gulf Islamic Investments acquires a licensed investment and asset management firm in the Kingdom of Saudi Arabia

GII’s fully-fledged investment licence in the Kingdom, under the name Gulf International Investment Company, creates new opportunities to expand its business in the country

KIB earns “Best Customer-Focused Islamic Banking Products and Services in Kuwait” award from World Finance

Winning several titles at the 2023 Islamic Finance Awards

Alinma Bank initiates sale of AT1 sukuk - document

The Islamic lender plans to sell benchmark-sized U.S. dollar-denominated perpetual Additional Tier 1 Capital Certificates through a special purpose vehicle

Dubai Islamic Bank shareholders approve 45% dividend for 2023

With shareholders’ returns always a priority, this record-breaking financial performance led to a 45% cash dividend aggregating to an amount of around AED 3.25 billion

Gulf International Bank reports record financial results

Marking 78% increase in net profit attributable to the shareholders of the bank

Bahraini Islamic Finance industry well-developed

90% of Sukuk Rated ‘B+’

$30mln financing boost for Egyptian SMEs: ICD, Banque Misr sign letter of intent

The agreement marks a continuation of the successful partnership between ICD and Banque Misr, which began in 2017 with a $25mln financing line

Maisarah Islamic Banking Services rebrands to Dhofar Islamic

Nurturing heritage and embracing progress

ADIB advances its banking technologies with ProgressSoft's Payments Hub

Aims to ease the integration of Cross-Border Services and accelerate cross-border remittances

Oman: Assets of Islamic banks and windows up 11.7% to $18.7bln

The total balance of financing granted by units practicing Islamic banking increased by 11.7 percent to reach OMR5.9 billion

Egypt, Islamic Development Bank cooperation portfolio reaches $20.72bn in various fields

The meeting was attended by Mai Babiker, the Director of the Bank’s Regional Office in Cairo

Bank Nizwa participates in & supports the second family and value building symposium

Reflecting its Sustainability Direction of Nurturing the Local Community

QIB announces launch of innovative e-commerce platform on mobile app

All purchases made through QIB Marketplace qualify for complimentary doorstep delivery, with the added convenience of 24-hour delivery available for select products.

Khaleeji Bank achieves prestigious “ISO 22301:2019” certification

For exemplary business continuity management

Bank Nizwa’s senior executives excel in prestigious Wharton University program

Continuing to Empower Executive Leadership in Islamic Banking

Faisal Islamic Bank’s standalone profits down 9.3% YoY in 2023

The company’s standalone profit after tax fell to EGP 4.057 billion last year from EGP 4.475 billion the year before.

FAB issues the first Sukuk globally in 2024

5-year USD 800 million bond at US Treasury +85bps (all-in yield of 4.779%)

ADIB launches B2B marketplace to empower small and medium enterprises

Announces the introduction of ADIB Business Souq, a digital marketplace designed to provide comprehensive support to SMEs

Bank Nizwa acts as issue manager for Sovereign Sukuk Series 7 issuance on behalf of the Govt. of the Sultanate of Oman

This dual role underscores the bank's commitment to ensuring a seamless and efficient management process for transactions of such national stature

Islamic Development Bank Institute begins developing the ‘Islamic Finance Knowledge Pavilion Marketplace’

The Pavilion will provide a digital marketplace of validated solution providers in Islamic finance and economic development