Company Insights Dubai Islamic Bank Banking and Finance Dubai Islamic Bank News Banking and Finance Dubai launches $136 million venture capital fund Dubai Integrated Economic Zones Authority has launched a venture capital fund, backed by a AED500 million ($136 million) pot, to support tech startups. Oraseya Capital was announced at the Dubai Business Forum on Wednesday by Dr Mohammed Alzarooni, executive chairman of DIEZ Authority. He said Oraseya Capital’s key aim is to “foster innovation and drive […] November 1, 2023 Analysis Banking and Finance Stronger GCC relations a boon to Turkey’s Islamic banks Improving relations between Turkey and the GCC could lead to more investment in the country’s Islamic banking system, which the government is keen to expand. The Turkish authorities have set a target for Islamic banks to reach 15 percent of total sector assets by 2025, up from 8.5 percent this year. Top-down support has been […] November 1, 2023 Trade UAE investment in Turkey nears $6bn since 2002 Foreign direct investment from the UAE to Turkey has surged to $5.6 billion (AED20.6 billion) from 2002 until August 2023, said Mesaid Ahmet Burak Daglioglu, head of the investment office of the Turkish presidency. Nearly 600 UAE companies are operating in Turkey as of the first half of 2023, he told the UAE state-owned Wam […] October 18, 2023 Finance DIB acquires 20% stake in Turkey’s TOM Group Dubai Islamic Bank has ventured into Turkey’s digital banking and financial technology arena by acquiring a 20 percent stake in Istanbul-based TOM Group. The Shariah-compliant bank has the option to increase shareholding to 25 percent within 12 months, it said in a statement. TOM Group, established by Aydın Group, includes TOM Katılım Bankası A.Ş. (Turkey’s first licensed digital retail […] October 2, 2023 Banking and Finance DP World to hire banks for 10-year debut green sukuk DP World intends to issue its first 10-year US dollar-denominated benchmark-sized green sukuk, as the ports operator expands its global reach. The Dubai-based company held investor meetings on September 4 and 5, Reuters reported, citing a bank document. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and […] September 5, 2023 Analysis Banking and Finance Islamic finance tops $3.3trn but growth challenges remain Saudi Arabia is the world’s biggest player in Islamic finance and the appetite for it in the kingdom is only growing. It has $830 billion of assets out of a global market estimated to be worth $3.3 trillion, according to Ayman al Sayari, the governor of the Saudi Central Bank. Just last week, when Saudi […] August 30, 2023 Finance Saudi Telecom raises $1.34bn to buy European towers Tawal, a subsidiary of Saudi Telecom Company (STC), has completed the acquisition of three tower companies of United Group in Bulgaria, Croatia and Slovenia for €1.22 billion ($1.34 billion). The company agreed to buy tower infrastructure in April as part of its first foray into Europe’s telecoms market. Tawal raised a Shariah-compliant loan worth $1.42 […] August 28, 2023 Banking and Finance UAE consumers save less, borrow more in second quarter UAE consumers saved less and borrowed more in the second quarter of the year, data from the country’s top 10 banks revealed. The overall loan-to-deposit ratio (LDR) rose from 74.9 percent in Q1 2023 to 76.3 percent in Q2, recording the first increase after four successive quarterly declines, according to the latest quarterly UAE Banking […] August 25, 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 Banking and Finance Cop28 tipped to feed appetite for green sukuk The Cop28 climate conference in the UAE is expected to boost interest in green sukuk as the market gathers momentum in the GCC, Malaysia and Turkey. Environmental, social, and governance (ESG) sukuk – sharia-compliant instruments used to fund renewable energy and other green projects – are set to be a central issuance theme for the remainder […] August 15, 2023 Posts navigation Previous 1 … 3 4 5 6 Next
Banking and Finance Dubai launches $136 million venture capital fund Dubai Integrated Economic Zones Authority has launched a venture capital fund, backed by a AED500 million ($136 million) pot, to support tech startups. Oraseya Capital was announced at the Dubai Business Forum on Wednesday by Dr Mohammed Alzarooni, executive chairman of DIEZ Authority. He said Oraseya Capital’s key aim is to “foster innovation and drive […] November 1, 2023
Analysis Banking and Finance Stronger GCC relations a boon to Turkey’s Islamic banks Improving relations between Turkey and the GCC could lead to more investment in the country’s Islamic banking system, which the government is keen to expand. The Turkish authorities have set a target for Islamic banks to reach 15 percent of total sector assets by 2025, up from 8.5 percent this year. Top-down support has been […] November 1, 2023
Trade UAE investment in Turkey nears $6bn since 2002 Foreign direct investment from the UAE to Turkey has surged to $5.6 billion (AED20.6 billion) from 2002 until August 2023, said Mesaid Ahmet Burak Daglioglu, head of the investment office of the Turkish presidency. Nearly 600 UAE companies are operating in Turkey as of the first half of 2023, he told the UAE state-owned Wam […] October 18, 2023
Finance DIB acquires 20% stake in Turkey’s TOM Group Dubai Islamic Bank has ventured into Turkey’s digital banking and financial technology arena by acquiring a 20 percent stake in Istanbul-based TOM Group. The Shariah-compliant bank has the option to increase shareholding to 25 percent within 12 months, it said in a statement. TOM Group, established by Aydın Group, includes TOM Katılım Bankası A.Ş. (Turkey’s first licensed digital retail […] October 2, 2023
Banking and Finance DP World to hire banks for 10-year debut green sukuk DP World intends to issue its first 10-year US dollar-denominated benchmark-sized green sukuk, as the ports operator expands its global reach. The Dubai-based company held investor meetings on September 4 and 5, Reuters reported, citing a bank document. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and […] September 5, 2023
Analysis Banking and Finance Islamic finance tops $3.3trn but growth challenges remain Saudi Arabia is the world’s biggest player in Islamic finance and the appetite for it in the kingdom is only growing. It has $830 billion of assets out of a global market estimated to be worth $3.3 trillion, according to Ayman al Sayari, the governor of the Saudi Central Bank. Just last week, when Saudi […] August 30, 2023
Finance Saudi Telecom raises $1.34bn to buy European towers Tawal, a subsidiary of Saudi Telecom Company (STC), has completed the acquisition of three tower companies of United Group in Bulgaria, Croatia and Slovenia for €1.22 billion ($1.34 billion). The company agreed to buy tower infrastructure in April as part of its first foray into Europe’s telecoms market. Tawal raised a Shariah-compliant loan worth $1.42 […] August 28, 2023
Banking and Finance UAE consumers save less, borrow more in second quarter UAE consumers saved less and borrowed more in the second quarter of the year, data from the country’s top 10 banks revealed. The overall loan-to-deposit ratio (LDR) rose from 74.9 percent in Q1 2023 to 76.3 percent in Q2, recording the first increase after four successive quarterly declines, according to the latest quarterly UAE Banking […] August 25, 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
Banking and Finance Cop28 tipped to feed appetite for green sukuk The Cop28 climate conference in the UAE is expected to boost interest in green sukuk as the market gathers momentum in the GCC, Malaysia and Turkey. Environmental, social, and governance (ESG) sukuk – sharia-compliant instruments used to fund renewable energy and other green projects – are set to be a central issuance theme for the remainder […] August 15, 2023
