Company Insights Abu Dhabi Islamic Bank Banking and Finance Abu Dhabi Islamic Bank News Analysis Banking and 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 and 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 Analysis Banking and Finance ADIB expects profits to keep rising after stellar year Abu Dhabi Islamic Bank’s net profit margin will expand further, according to its group chief financial officer Mohamed Abdelbary. The sharia-compliant lender has enjoyed a bumper first nine months of 2023 in which its earnings increased by nearly half. “We’ve managed to capitalise on the increase in interest rates in the market because of the […] November 16, 2023 Finance ADIB raises $500m from its first-ever green sukuk Abu Dhabi Islamic Bank (ADIB) has raised $500 million through a green sukuk offering, the first ever green USD-denominated sukuk issued by a financial institution. The lender priced the five-year senior sukuk at a profit rate of 5.695 percent annually, payable semi-annually. The sukuk will be listed and traded on London Stock Exchange’s international securities […] November 9, 2023 Analysis Banking and Finance Turkey and Egypt can trip up Gulf lenders says analyst Gulf banks are in a resilient position as oil production cuts crimp economic growth, but lenders could face headwinds from macroeconomic volatility in Egypt and Turkey, an S&P Global analyst said this week. In Turkey, Dubai’s Emirates NBD owns Denizbank and Qatar National Bank owns QNB Finansbank, the country’s eighth and ninth largest banks by […] October 12, 2023 Real Estate UK commercial property bargains lure Gulf buyers Gulf backers have contributed over 80 percent towards a British investment fund targeting distressed commercial property sales in the UK. Greenridge Investment Management Ltd has just closed the first round of its $190 million Greenridge Opportunities fund and has surpassed its first capital raise target by 46 percent. Strong participation from Saudi Arabia and Kuwait […] October 11, 2023 Renewable Energy Six UAE banks allocate $52bn for renewable projects A total of AED190 billion ($51 billion) was allocated by six UAE banks for the financing of renewable energy, waste-to-energy and green technology projects in the years leading up to 2022. The banks are First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Dubai Islamic Bank, Mashreq and Abu Dhabi Islamic Bank, the UAE […] August 22, 2023 Posts navigation Previous 1 2 3 4 5 Next
Analysis Banking and 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 and 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
Analysis Banking and Finance ADIB expects profits to keep rising after stellar year Abu Dhabi Islamic Bank’s net profit margin will expand further, according to its group chief financial officer Mohamed Abdelbary. The sharia-compliant lender has enjoyed a bumper first nine months of 2023 in which its earnings increased by nearly half. “We’ve managed to capitalise on the increase in interest rates in the market because of the […] November 16, 2023
Finance ADIB raises $500m from its first-ever green sukuk Abu Dhabi Islamic Bank (ADIB) has raised $500 million through a green sukuk offering, the first ever green USD-denominated sukuk issued by a financial institution. The lender priced the five-year senior sukuk at a profit rate of 5.695 percent annually, payable semi-annually. The sukuk will be listed and traded on London Stock Exchange’s international securities […] November 9, 2023
Analysis Banking and Finance Turkey and Egypt can trip up Gulf lenders says analyst Gulf banks are in a resilient position as oil production cuts crimp economic growth, but lenders could face headwinds from macroeconomic volatility in Egypt and Turkey, an S&P Global analyst said this week. In Turkey, Dubai’s Emirates NBD owns Denizbank and Qatar National Bank owns QNB Finansbank, the country’s eighth and ninth largest banks by […] October 12, 2023
Real Estate UK commercial property bargains lure Gulf buyers Gulf backers have contributed over 80 percent towards a British investment fund targeting distressed commercial property sales in the UK. Greenridge Investment Management Ltd has just closed the first round of its $190 million Greenridge Opportunities fund and has surpassed its first capital raise target by 46 percent. Strong participation from Saudi Arabia and Kuwait […] October 11, 2023
Renewable Energy Six UAE banks allocate $52bn for renewable projects A total of AED190 billion ($51 billion) was allocated by six UAE banks for the financing of renewable energy, waste-to-energy and green technology projects in the years leading up to 2022. The banks are First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Dubai Islamic Bank, Mashreq and Abu Dhabi Islamic Bank, the UAE […] August 22, 2023
