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

Ithmaar Bank Upgrading, Relocating Muharraq Branch

Until the new Muharraq branch is opened, we will be pleased to serve customers at the nearby Busaiteen and Qalali branches

Bank ABC Islamic H1 net profit up 21pc to $18.9m

Net profit for the second quarter was $9.3 million, 25.9% higher than the profit of $7.4 million reported in the second quarter of last year.

Dubai’s Noor Bank launches 3.2 mln dirham waqf fund with Ajman Uni to benefit Islamic banking and finance

The fund will aim to attract more pledges in the future, Noor Bank’s head of Shariah Dr Adnan Aziz told Salaam Gateway.

Ajman Bank Q2 2019 profit flat year-on-year

Net operating income grew 22.97 per cent to 157.39 million dirhams for Q2 compared to 127.99 million dirhams in the same period last year

KIB achieves KD 2.34 billion net profits H1 2019

It pointed out that investment revenues increased compared to the first half of last year

Bank of Sharjah reports Dh152 million H1 net profits

Loans and advances grew 11 per cent in the first half of 2019

Arada reaches 4,000-unit sales milestone and ties up with Dubai Islamic Bank to provide home financing solutions

Developer achieves landmark just over two years since launch of first project, Nasma Residences

IIFM Publishes its Annual Sukuk Report 2019

The report finds that global Sukuk issuances during the year 2018 stood at USD 123.2 billion, which is a modest increase of 5.5% over 2017 primary market Sukuk issuances of USD 116.7 billion.

Abu Dhabi Islamic Bank Q2 2019 net profit up 10 per cent

The increase in profitability was supported by a 6.3 per cent growth in net revenues Q2 2019 to AED 1,451 million, owing to the resilient performance of the bank’s core businesses.

QCB plans centralised Sharia'h framework for Islamic banks

Qatar Islamic banks are pursuing such a strategic opportunities, seeking to operate in international markets such as Morocco and the UK.

Pakistan's $500mln syndicated financing attracts 40% oversubscription

Emirates NBD Capital Limited acted as the Global Coordinator on the Facility. The transaction was fully subscribed by 12 banks.

Emirates Strategic Investments Company debuts $600mln sukuk

The sukuk issuance has a tenor of five years at a profit rate of 3.939% per annum

Green energy getting a boost from Islamic finance

This is where the value proposition of Islamic finance kicks in.

Sharjah Islamic Bank's Net Profit Rises to 291 Million During the First Half of 2019

As a result, liquid assets reached AED 9.0 billion or 20.4% of total assets by the end of the first half 2019.

Noor Bank reports Dh410 million H1 2019 net profit

Stringent expense management and lower impairments contributed to the surge in net profit

IIRA reaffirms credit ratings on Al Baraka Banking Group and raises the fiduciary assessment

The Group is headquartered in the Kingdom of Bahrain and has a wide geographical presence in the form of subsidiary banking units

Deloitte and ISRA Launch Islamic Finance Report Examining Rise of Green Sukuk

This is Deloitte’s second renewable energy paper analyzing industry investment trends, regulatory frameworks, stakeholders, financing strategies and success stories that help drive the value proposition for Islamic finance alternatives.

Kuwait Finance House Q2 net profit up 9.4pc year on year

The transaction will create the largest banking entity in Kuwait, with assets of about $94 billion.

Emirates Islamic announces H1 2019 financial results

Financing and investing receivables at AED 36.6 billion, up 1% from end 2018.

Kuwait central bank approves Warba Bank’s $500mln sukuk issue

The bank should also complete remaining requirements set by regulatory authorities