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

Islamic banks' reputation surges amidst pandemic

CARMA, the leading global media intelligence provider, has created a deep-dive report on the rise of Islamic Banking

Saudi Arabia sukuk to join widely followed FTSE bond index

The sukuk, sharia-compliant Islamic bonds, have a par amount currently outstanding of $81.6bln

Kuwait's Warba Bank to issue $250mln sukuk

Lender obtains initial approval from central bank to make issuance

Saudi Arabia's Positive Facilities taps Path for core banking

The company’s five-year plan is to serve up to 50,000 SME customers in Saudi Arabia with affordable financing loans at 0% interest with an estimated total number of financing transactions exceeding 30 million transactions per year.

Islamic banks in GCC ‘focusing on low-risk retail finance’

Consolidation within fragmented Islamic banking markets presents opportunities.

SoftBank ventures into Saudi Arabia in a deal with wealth fund

SoftBank has partnered with Saudi Arabia’s sovereign wealth fund and plans to expand into the Middle East and Africa.

ADIB Partners with DenekB, a UAE based FinTech company, to expand digital payment choices for consumers in the UAE

Through this partnership, UAE residents with a registered DenekB account will be able to create their Virtual Visa Prepaid Card instantly that is powered by ADIB

IsDB Institute wins 'Best Islamic Research & Development' award for 2021

The award was presented during the 11th Global Islamic Finance Awards (GIFA), held online on 14 September 2021 to celebrate excellence in the global Islamic finance industry

Egypt accounts for EGP 347bn of global Islamic banking of $2.7trn: Finance Ministry

Finance Ministry cooperates with FRA, Al-Azhar, and Islamic banks to issue regulations of Sukuk Law

Sukuk issuance will drop in 2021 as finances of Gulf countries improve

Sukuk volumes in the GCC declined by 19% in H1-21

GCC sukuk issuance set to decline in 2021

Lower funding needs and high liquidity in the banking sector impacting sukuk issuance

Bahrain's Ahli United Bank launches $600 million senior sukuk

The spread was tightened from initial price guidance of around 200 basis points over mid-swaps after the sukuk drew more than $1.3 billion in orders, the document from one of the banks on the deal reviewed by Reuters showed.

Dubai's Meraas plans refinancing of $600m Islamic bonds

The paper however shot up in value in June

Islamic Development Bank launches Saudi-backed $100m fund in Uzbekistan

The fund has an initial capital of $100 million, and will target 34 micro, small, and medium enterprises

Bahrain's Ahli United Bank hires banks for dollar senior sukuk - document

They will hold investor calls from Tuesday, to be followed by a transaction, subject to market conditions, of benchmark size, which typically means at least $500 million.

Bahrain's Ahli United Bank hires banks for dollar senior sukuk - document

HSBC and JPMorgan were hired as joint global coordinators

KFH key pillar in supporting Kuwait Economy and NDP

Almutawa: diversified financing portfolio covering vital sectors

Gulf Islamic Investments and Capital Bay announce joint venture

Capital Bay and Gulf Islamic Investments signed a Joint Venture Agreement to develop a senior living real estate investments platform

Dukhan Bank named Best Islamic Digital Bank

In recognition of Dukhan Bank’s innovative and pioneering approach towards delivering technologically powered services and products to its customers, the Global Finance awards stand testament to the bank’s success in rolling out its robust dig

Egypt to begin offering sukuk in first half of 2022 - ministry

The exact timing and size of the first offering is yet to be determined