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

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.

Ajman Bank launches its first dedicated wealth management branch in Dubai

Equipped with outstanding facilities to enhance the HNW visitors' experience

World's Best Islamic Financial Institutions 2021

Islamic financial institutions coped well under pandemic conditions and found that prior tech investments paid off.

More than 51% of traded constituents make gains on QSE

The Islamic index was seen declining faster the main index in the market, which saw the consumer goods sector alone constituted more than 51% of the total trading volume.

Bank of Sharjah Group reports Dh666 million consolidated net loss in 2020 from provisions in Lebanon

Consolidated loss stems from application of hyperinflation effect on Lebanese subsidiary

ADIB eyes sustained growth with 125% Q1 net profit surge

The bank said the net profit growth reflects the strong underlying performance across the business

Dubai Islamic Bank profit down year-on-year but quarterly growth brings cheer

The first quarter of 2020 was the last before the full-blown onset of the COVID-19 pandemic.

Moving away from LIBOR: Islamic Development Bank issues SOFR-linked sukuk

IsDB' s debut SOFR-linked Sukuk is a 3-year Floating Rate Note that raised $400mln from a single investor on a Private Placement basis

UAE’s Emirates Islamic Bank posts 37% rise in Q1 net profit

The bank’s operating profit dipped 12 per cent y-o-y to Dhs319m

Saudi Arabia's Al Rajhi Bank reports 40% increase in Q1

Saudi Arabia's biggest Islamic lender said net profit in the three months ended March 31 to $890.60mln

Sharjah Islamic Bank records 7% higher profits in Q1-21

Bank's net income from financing and investment products jumped by 17.6%

KFH wins "World`s Best Islamic Financial Institution 2021" award

The Group wins 5 global prestigious awards

KFH Demonstrates benefits of "It's Worth Transferring your Salary" Campaign

On Q8 Pulse Radio Station

Abu Dhabi Islamic Bank partners with IBM to accelerate its digital transformation

Step will help enhance ADIB's digital infrastructure, modernise operations and automate processes

ADIB provides financing for Albilad Capital's £87M landmark acquisition of PWC HQ in Northern Ireland

The property, known as Merchant Square, is situated at the heart of the Belfast Business District

Saudi Islamic Banks' Asset Quality Prone to Deterioration; Strong Capital and Liquidity

Islamic banks will continue to face pressure on profitability, particularly from lower official profit rates and elevated financing impairment charges.

Robust legal, regulatory framework helps Islamic finance growth in Qatar: Al-Kuwari

Qatari Islamic banks, he said showed "strong performance and high growth rates" in their profits in 2019.

Islamic Finance