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

Top 5 UAE banks’ combined annual net profit rises to $11.5bn in 2022

The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness

Al Busiari Bank to accelerate financial inclusion in Yemen by opting for ICS BANKS Islamic Banking Solution from ICSFS

The bank will be delivering comprehensive open banking platform, Shari’a-compliant microfinancing products and services

Saudi Arabia’s NDMC closes March sukuk issuance at $897m

Last month, NDCM closed the issuance of SR3.65 billion while the total value of all bids received for February stood at SR3.71 billion.

Faisal Islamic Bank, set to revolutionize Egypt's digital banking experience with Intellect Global Consumer Banking's CBX Platform

Intellect has won this project with their long-term partner in Egypt, Summit Technology Solutions, who will be jointly working on the implementation.

Boubyan is named the best in customer service across all economic sectors in Kuwait

And the best in customer service atop all Islamic banks

Bank of Sharjah set to raise $500 mln with five-year bonds

Abu Dhabi Commercial Bank, Bank ABC, Credit Agricole, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan and Mashreq are joint lead managers and bookrunners for the debt sale.

Bahraini Islamic Banking Penetration Solid, to Benefit from Consolidation

Islamic banks’ assets (including Islamic-banking windows available at conventional banks) increased by 7.6% in 2022 – a faster pace than conventional banks’ asset growth of 2%.

Dubai redeems sukuk worth more than $1bln

The Dubai Government's Debt Management Office (DMO) also prepaid an additional $300 million of sukuk through an early redemption

Dubai Islamic Bank successfully prices $1bn sustainable sukuk, its second so far

In November last year, DIB priced its inaugural sustainable sukuk, a $750m five-year senior issue with a profit rate of 5.493 per cent per annum

UAE’s Emirates Islamic issues dirham-denominated sukuk valued at Dhs1bn

The three-year issue witnessed robust demand and was oversubscribed by 2.5 times

Gulf Islamic Investments announces an office opening in Bahrain

GII’s expanding footprint in the GCC as part of a strategy for the region

Saudi ACWA Power completes $480mln local currency sukuk issue

The issuance comes under the utility company's $1.33bln programme

Boubyan Bank’s net profits grow by 19% in 2022 to reach KD 57.8mln

With a recommendation to distribute 6 fils in cash dividends and 6% in bonus shares

nogaholding wins $200m funding from Al Baraka Islamic Bank

The syndicate of lenders include Bahrain Islamic Bank (BisB), Khaleeji Commercial Bank and National Bank of Kuwait (NBK) – Bahrain.

Dubai Islamic Bank FY net profit jumps 26%; beats estimate

Impairment charges fell while net income rose

SIB launch new headquarters of its branch in Al Dhaid Mall

The opening is part of the SIB’s plan to enhance the scope of its corporate and individual customers and reach the largest segment of beneficiaries from its financial and banking services package in the central region.

Bank Nizwa partners with IFIN to offer instant islamic goods financing

Competitive rate starting from 4.5%

Kuwait Finance House – Bahrain Employees Awarded with the Islamic Arbitrator & Expert (CIAE) Certificate

The CIAE program is a comprehensive, international program covering all Sharia’a, legal and practical aspects in Islamic finance transactions.

QIIB announces the opening of nominations for membership of the Board of Directors

Shareholders who are wishing to apply for nomination are required to visit the Secretariat of the Board of Directors on the 3rd floor of QIIB headquarter, Grand Hamad St. through the bank's working hours from 8 am until 2 pm to fill the required nomi

UBF: Commercial Transactions Law 2022 boosts Islamic financial services

Enhancing the leading status of UAE banking sector

Islamic Finance