December 10, 2018

(WAM) -- National Bank of Fujairah, NBF, announced today that NBF Islamic has retained the 'Best Islamic Window – UAE' accolade for the third consecutive year at the Islamic Business and Finance Awards 2018.

Hosted by CPI Financial, the Islamic Business and Finance Awards recognises the efforts of business leaders as they seek to promote their organisation’s Shari’a compliant offerings as well as elevating the UAE’s position as a global Islamic financial hub.

Commenting on the win, Vince Cook, NBF’s CEO, said, 'We are very"...

November 29, 2018

The growth of Islamic finance is very slow as the industry remains fragmented across 60 countries around the world, bankers and experts said at the World Islamic Banking Conference 2018 in Bahrain on Tuesday.

'Islamic finance is no longer an infant industry. Next year will be the 40th anniversary of the establishment of the first Islamic bank in Bahrain. Islamic finance has achieved size, scale, market share and customer attention in many markets around the world including Bahrain. But success is always a function of what you have achieved as compared to your expectations. I have to concede that my expectations from the Islamic finance industry"...

November 18, 2018

The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to new research.

The findings of the 2018 Islamic Banking Index by Emirates Islamic said that Islamic banks are outperforming their conventional peers in customer acquisition.

It noted that 55 percent of UAE consumers now have at least one Islamic banking product, compared to 47 percent when the index was launched in 2015.

In contrast, the penetration score for conventional"...

November 15, 2018

The Global Islamic Economy Summit 2018 in Dubai concluded earlier today with a call for halal industries to embrace innovative technologies in order to ensure their sustainable growth.

The high-level summit, the largest event dedicated to all aspects of the Islamic economy, was held on October 30th-31st, and attended by over 3,000 visitors, including His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, heads of state, ministers, top government officials, business leaders and industry experts from around the world.

Held"...

November 13, 2018

DUBAI, 12th November, 2018 (WAM) -- Sultan Ahmed bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell today to celebrate the multi-currency listing on Nasdaq Dubai of four debt listings. The four listings together amount to a value of about US$3.3 billion.

The listings comprise a 10 year US$1 billion and three conventional bonds of 30 years US$1 billion, eight years €750 million, and 12 years ₤350 million GBP respectively.

The deal sets new benchmarks for Middle East issuers. Amongst other highlights, this deal marks"...

November 12, 2018

Abu Dhabi Islamic Bank (ADIB) has announced that its board of directors has approved the implementation of the foreign ownership of 25 per cent of its issued capital after receiving approval from the Abu Dhabi Executive Council.

Starting November 19, 2018, current ADIB shareholders can trade their shares to non-Emirati investors registered on the Abu Dhabi Securities Exchange (ADX).

Khamis Buharoon, acting CEO and vice-chairman, said: 'This is a major milestone in the bank's history which can positively affect both shareholders and the wider stock market. The decision will allow non-Emirati shareholders to participate in ADIB's growth story.'

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