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

Bahrain's Islamic Banking Sector Projected to Grow Jolted By M&A

The sector continues to have significant importance with total Islamic banking assets reaching USD35.7 billion at end-2020 or about 106% of Bahrain's GDP.

Alinma Bank hires JPMorgan Saudi Arabia for riyal sukuk

The size of the offering will depend on market conditions, it said in a filing to the Tadawul stock exchange

CBUAE Governor chairs Islamic Finance Services Board Council

H.E. the Governor have directed to take necessary actions to advance the agenda of standardisation of Shari’ah and ensure the solidification of Islamic finance standards are continuous and synchorinsed.

Turkey to have considerable position in conventional, Islamic finance

A Turkish lecturer stated that Turkey is going to have a significant position in conventional and Islamic finance.

ADIB named ‘Best Islamic Bank in the UAE’ at IFN Awards

IFN Awards is a highly regarded awards ceremony within the Islamic finance industry

Bank of Sharjah achieves robust underlying profit performance

Delivering net equity of AED3.165bln for FY2020

Sukuk growth may be blunted by UAE's tighter standards: S&P

Standardization issues could be resolved “once and for all” through an initiative by Dubai and its partners

Second additional offering of Alkhabeer Reit Fund

The subscription period will extend for 15 working days

Islamic social financing in the COVID-19 era and beyond

This diversity calls for immediate action everywhere, but it requires more solidarity and multilateral action than ever.

Saudi-listed companies see total profits surge 44% in Q1 2021

The listed firm reported total net profit was $28.77bln compared to $19.96bln achieved during the same period in 2020

Sharjah’s investment ecosystem keen to woo Chinese businesses

Welcoming the virtual gathering, Al Musharrkh emphasised that since the establishment of bilateral relations in 1984, the UAE has emerged China’s largest non-oil trading partner in the Mena region.

4 banks acquire 90% of Islamic banking in Egyptian market

Faisal Islamic Bank of Egypt ranked first with EGP 119bn turnover in March 2021

ADIB registers profits in Q1

This marked a Year on Year (YoY) rise of 43%

Bahrain: GFH Financial Profits Up 217%

GFH Financial announced Tuesday its financial results for Q1 2021, which ended on March 31.

Al Baraka Banking B S C : Group records a net profit of US$ 26 million attributable to shareholders, for the first quarter of 2021

The basic and diluted earnings per share for the first quarter of 2021 was US Cents 2.11compared to US Cents 1.97 for the same period of 2020.

Kuwait Finance House Introduces Digital Wallet Service, Supported via Smartphones with Assistance from Samsung, FitBit, Garmin

The holders of KFH Visa ATM, credit and prepaid cards and also Mastercard cards (except ATM) now have the option to try out payments with the wallet – which is reportedly compatible with NFCs locally and internationally.

Islamic Finance