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

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.

First Abu Dhabi Bank receives Oman CMA custody licence

Haitham al Salmi, general manager at Muscat Clearing and Depository, said, “We are delighted to welcome First Abu Dhabi Bank as custodian of the MCD."

Sharjah Islamic Bank posts Dh405.8m 2020 net profit

Board propose 8 per cent cash dividend

Saudi's NDMC announces closure of January issuance of sukuk program

The issuance size of the sukuk program in January was set at $788mln

Al Baraka Islamic Bank announces new scheme with over BD1 million in cash prizes

The new scheme of alBarakat account will offer customers the chance to win monthly prizes

Sharjah Islamic Bank achieved a net profit of AED 405.8 million for the year 2020 and propose 8% cash dividend

The exceptional circumstances that the world is going through, the Bank has been prudent to hedge the potential risks owing to these difficult economic conditions and has made a provision on its financial assets amounting to AED 255.8 million, compared to

First Abu Dhabi Bank heads to market with $500m Islamic bond

This year could see $129b worth of dollar and Islamic debt offerings issued in Gulf

Al Baraka Islamic wins top retail banking awards

The Online Awards Ceremony (OAC) of the 6thedition was held live recently and broadcasted through multiple online channels.

Islamic Finance