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

IsDB Institute wins again 'Best Islamic research firm' award

The award recognizes the Institute's innovative approach for creating knowledge solutions to achieve sustainable development

Emirates Islamic swings to $218mln net profit on lower impairment costs

Bank says it has achieved 'strong capital and liquidity'

Islamic Development Bank gets $1.7bln via sukuk

The spread was tightened from initial guidance on Tuesday of around 30 bps over mid-swaps after the sukuk drew more than $2.4bln in demand

Islamic Development Bank gets $1.7bln via sukuk

The spread was tightened from initial guidance on Tuesday of around 30 bps over mid-swaps after the sukuk drew more than $2.4bln in demand

QIB bags award from Visa for enhanced digital solutions to cardholders

Over the past 24 months, QIB has added many new card features to its mobile app offering exceptional customer convenience.

ITFC CEO announced as Islamic Trade Finance CEO of the Year Saudi Arabia 2021

And Islamic Trade Finance CEO of the Year Middle East at the 2021 Global Banking & Finance Awards

QIB wins three accolades at Asset Triple A Islamic Finance Awards 2021

QIB also successfully closed a $750m 5-year Sukuk with a profit rate of 1.95 percent per annum, the lowest ever paid by QIB on their fixed rate Sukuk issuances.

Al Salam bank-Bahrain commences discussions with Ithmaar holding for the potential acquisition of a group of assets

Al Salam Bank is keen to maintain its growth trajectory and these discussions with Ithmaar Holding on a potential group of assets would complement Al Salam Bank's existing business lines

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.