Company Insights Abu Dhabi Islamic Bank Banking & Finance Abu Dhabi Islamic Bank News Banking & Finance Bad loan provisions drop markedly at UAE banks Most of the UAE’s top banks have significantly reduced how much they put aside to cover bad loans, in an indication of a generally benign economy and expectations of growth stretching into next year. During April and June this year, banks set aside AED1.3 billion ($350 million) in net loan loss provisions (LLPs) – the […] August 22, 2024 Opinion Finance Sharia index is tentative step for Islamic finance in Egypt Egyptian governments and investors have an awkward relationship with sharia-compliant finance June 26, 2024 Finance Aldar prepares for new 10-year green Islamic bonds Aldar Properties, the largest developer in Abu Dhabi, has appointed banks for its US-dollar-denominated 10-year green Islamic bond, according to a news report. HSBC and Standard Chartered Bank will lead as joint global coordinators, Reuters reported, citing a bank document. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First […] May 8, 2024 Banking & Finance ADIB denies stake purchase talks in Indonesian lender Abu Dhabi Islamic Bank (ADIB) has denied holding talks with Indonesia’s largest Islamic lender to acquire a minority stake for just over $1 billion. “ADIB strongly denies being in any negotiations to acquire a stake in Bank Syariah Indonesia,” the emirate’s largest Islamic lender said in a statement published on the Abu Dhabi bourse on […] April 18, 2024 Analysis Banking & Finance Reasons to be cheerful for UAE banks with Egyptian subsidiaries Despite the plunge in the value of the Egyptian pound, UAE banks’ subsidiaries in the country remain a strong long-term asset, analysts have told AGBI. Three Emirati banks – Abu Dhabi Islamic Bank, First Abu Dhabi Bank and Dubai’s Emirates NBD – have acquired Egyptian lenders. The pound-to-dollar exchange rate stood at about EGP31 at […] March 28, 2024 Analysis Banking & Finance GCC banks look to US and Europe GCC banks may be forced to look overseas to fulfil growth ambitions as home markets become increasingly saturated, experts say. While some banks have already ventured abroad – mainly into Turkey, Egypt and Pakistan, which constitute nearly a half of their presence outside the Gulf – more developed markets such as the US and Europe […] February 28, 2024 Renewable Energy Dewa and Masdar secure funding for sixth phase of solar park Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy major Masdar have achieved the financial closing of the 1,800-megawatt (MW) sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The funding has been jointly provided by Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered […] February 22, 2024 Employment Gulf’s ESG uptake hindered by lack of expertise The Gulf has seen a rise in green bonds and funds, but awareness of environmental, social and corporate governance (ESG) reporting and the infrastructure to carry it out is lagging the rest of the world, a leading industry expert says. A survey from the consultancy PwC Middle East revealed that 64 percent of respondents in […] January 3, 2024 Finance Taqa secures funding for $444m desalination project Abu Dhabi National Energy Company (Taqa) has secured finance for its AED1.6 billion ($444 million) low-carbon intensive Shuweihat 4 reverse osmosis seawater desalination project (S4 RO). The project was developed by Abu Dhabi’s Emirates Water and Electricity Company (EWEC) and Spain’s GS Inima, and is funded (71 percent) through debt financing from both local and […] December 24, 2023 Banking & Finance Strong upsurge in UAE green sukuk ahead of Cop28 The UAE has witnessed a strong push for sukuk to finance green projects, according to data released by Fitch Ratings. Sukuk are sharia-compliant bonds that were developed as an alternative to conventional bonds, which are not considered permissible by many Muslims as they pay interest, and also may finance businesses involved in activities not allowed […] November 29, 2023 Posts navigation Previous 1 2 3 4 Next
Banking & Finance Bad loan provisions drop markedly at UAE banks Most of the UAE’s top banks have significantly reduced how much they put aside to cover bad loans, in an indication of a generally benign economy and expectations of growth stretching into next year. During April and June this year, banks set aside AED1.3 billion ($350 million) in net loan loss provisions (LLPs) – the […] August 22, 2024
Opinion Finance Sharia index is tentative step for Islamic finance in Egypt Egyptian governments and investors have an awkward relationship with sharia-compliant finance June 26, 2024
Finance Aldar prepares for new 10-year green Islamic bonds Aldar Properties, the largest developer in Abu Dhabi, has appointed banks for its US-dollar-denominated 10-year green Islamic bond, according to a news report. HSBC and Standard Chartered Bank will lead as joint global coordinators, Reuters reported, citing a bank document. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First […] May 8, 2024
Banking & Finance ADIB denies stake purchase talks in Indonesian lender Abu Dhabi Islamic Bank (ADIB) has denied holding talks with Indonesia’s largest Islamic lender to acquire a minority stake for just over $1 billion. “ADIB strongly denies being in any negotiations to acquire a stake in Bank Syariah Indonesia,” the emirate’s largest Islamic lender said in a statement published on the Abu Dhabi bourse on […] April 18, 2024
Analysis Banking & Finance Reasons to be cheerful for UAE banks with Egyptian subsidiaries Despite the plunge in the value of the Egyptian pound, UAE banks’ subsidiaries in the country remain a strong long-term asset, analysts have told AGBI. Three Emirati banks – Abu Dhabi Islamic Bank, First Abu Dhabi Bank and Dubai’s Emirates NBD – have acquired Egyptian lenders. The pound-to-dollar exchange rate stood at about EGP31 at […] March 28, 2024
Analysis Banking & Finance GCC banks look to US and Europe GCC banks may be forced to look overseas to fulfil growth ambitions as home markets become increasingly saturated, experts say. While some banks have already ventured abroad – mainly into Turkey, Egypt and Pakistan, which constitute nearly a half of their presence outside the Gulf – more developed markets such as the US and Europe […] February 28, 2024
Renewable Energy Dewa and Masdar secure funding for sixth phase of solar park Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy major Masdar have achieved the financial closing of the 1,800-megawatt (MW) sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The funding has been jointly provided by Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered […] February 22, 2024
Employment Gulf’s ESG uptake hindered by lack of expertise The Gulf has seen a rise in green bonds and funds, but awareness of environmental, social and corporate governance (ESG) reporting and the infrastructure to carry it out is lagging the rest of the world, a leading industry expert says. A survey from the consultancy PwC Middle East revealed that 64 percent of respondents in […] January 3, 2024
Finance Taqa secures funding for $444m desalination project Abu Dhabi National Energy Company (Taqa) has secured finance for its AED1.6 billion ($444 million) low-carbon intensive Shuweihat 4 reverse osmosis seawater desalination project (S4 RO). The project was developed by Abu Dhabi’s Emirates Water and Electricity Company (EWEC) and Spain’s GS Inima, and is funded (71 percent) through debt financing from both local and […] December 24, 2023
Banking & Finance Strong upsurge in UAE green sukuk ahead of Cop28 The UAE has witnessed a strong push for sukuk to finance green projects, according to data released by Fitch Ratings. Sukuk are sharia-compliant bonds that were developed as an alternative to conventional bonds, which are not considered permissible by many Muslims as they pay interest, and also may finance businesses involved in activities not allowed […] November 29, 2023
