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

Sohar Islamic completes issuance of Takaful Oman's perpetual sukuk

As the issue managers and financial adviser, Sohar Islamic played a pivotal role in ensuring the successful issuance and completion of the entire activity.

Islamic finance to continue rising in 2021: Moody's

Supportive government policies to drive growth in Islamic banking, sukuk, takaful

Al Baraka Islamic bank announces financial results for the year ended 31 December 2020

Simultaneously, the Bank incorporated provisions against identified and expected losses, aligned with our approved policies, and added BD 8 million (2019: BD 6.55 million) as allowance for impairment during the financial year 2020

HSBC completes its Islamic trade facility in MENAT with QIB

This transaction signals a strong start to the year.”

Dubai Islamic Bank’s net profit drops 38% in 2020 due to increased provisions

Total revenues were AED13.14 billion, compared to AED13.68 billion over the same period the previous year, according to figures.

Signing of an Agency Agreement between Islamic Corporation for the Development of the Private Sector and Islamic Development Bank

ICD is offering its expertise in implementation of R2 “Restore Program” COVID-19 Support in the area of Line of Finance transactions

HSBC completes first Islamic trade facility in Menat at $100m with QIB

The fact that this transaction was first completed in Qatar demonstrates that the country has a number of market leading internationally recognised Islamic financial institutions

Abu Dhabi Islamic Bank posts strong recovery in H2

ADIB demonstrated balance sheet strength ending the year with solid liquidity, funding, and capital ratios.

Takaful market projected to grow $44bn by 2024

He added that Group Insurance scheme is a plan under which persons are collectively insured as members of a group and not as individuals.

Why millennials are likely to drive growth in global Islamic finance

Young Muslims want to know that their money is doing good in the world, says Islamic finance expert

KIB reported KD 64 million operating income for EOY 2020

Growth in assets by 4%

Saudi's Halwani Bros signs Islamic financing deals worth $37.3mln

Al Rajhi Bank facilitates financing to meet working capital requirements of the Saudi-based food manufacturer

Bahrain will continue on development path: minister

Ministry of Finance and National Economy is moving forward to implement all its plans and initiatives

Bonds, Sukuk primary issuances in GCC see value rising to $132.7bln in 2020

The total number of primary issuances during last year totalled 360

Faisal Islamic Bank obtains Mastercard license through Network International partnership

Under the collaboration with Network International, Faisal Islamic Bank will issue Mastercard branded debit, credit and prepaid payment cards in Sudan for online, in-store, and ATM use.

Qatari banks could see more consolidation

This will be the second merger in Qatar between an Islamic bank and a conventional bank after Islamic bank Dukhan and International Bank of Qatar (IBQ) merged in April 2019

Sukuk changes Egypt’s financing methods, expected to surpass EGP 20bn in 2021

More Sukuk issuances needed to clarify amendments that executive regulations need:AlieldeanWeshahi& Partners

Islamic banking is getting its perfect storm moment

COVID-19 has accelerated the digital in banking, and Islamic finance too benefits

Boubyan Bank records operating profits of KD 93 million in in 2020

Allocates KD 59 towards precautionary provisions

QIB voted ‘Best Islamic Bank in Qatar’

Since March 2020, QIB was able to implement a comprehensive “Bank Safely from Home” campaign, which resulted in an unmatched increase in reliance on digital channels by QIB’s individual and corporate customers.

Islamic Finance