Sharjah Islamic Bank’s $500 million Sukuk listing boosts Dubai’s Islamic finance goals.
June 10, 2025
Sharjah Islamic Bank’s $500 million Sukuk listing boosts Dubai’s Islamic finance goals.
Sharjah Islamic Bank (SIB) has made a significant move in its international Islamic finance journey by listing a $500 million perpetual Sukuk on Nasdaq Dubai. This issuance, which features a non-call period of six years and adheres to Basel III standards, was finalised on June 10, 2025. It drew strong interest from both regional and global investors, emphasising the confidence in SIB’s stability and Dubai’s reputation as a leading centre for Sharia-compliant capital markets. This step increases SIB’s total Sukuk listings on Nasdaq Dubai to $2.5 billion across five offerings. The overall Sukuk value on the exchange now reaches an impressive $95.7 billion. Nasdaq Dubai CEO Hamed Ali stated that this listing shows a strategic shift, with Gulf-based institutions actively expanding local debt markets to meet the rising demand for varied Islamic financial instruments. SIB’s Deputy CEO, Ahmed Saad, noted that the Sukuk supports SIB Bank’s long-term growth plans and compliance with Basel III capital rules. This emphasises the high level of investor trust in SIB’s governance. Market analysts see this issuance as part of a wider trend, with GCC Sukuk volumes expected to grow by around 12% in 2025. This expansion is fueled by continued economic diversification and the growing popularity of ESG-tied Islamic financial instruments. The AT1 Sukuk’s profit-sharing model, more aligned with ethical investing values than interest-paying returns, is attractive to global institutional investors in pursuit of responsible fixed-income instruments. (Source: Zawya, Nasdaq Dubai) To read more on Finance News, head to the link.
Qatar Banking Sector Drives Modest Earnings Growth Amidst Regional Economic Restructuring
June 9, 2025
Qatar Banking Sector Drives Modest Earnings Growth Amidst Regional Economic Restructuring
In the first quarter of 2025, Qatar’s corporate profits rose by a modest 0.9%, to around $3.62 billion. The slight rise primarily resulted from the performance of banks, real estate, and energy companies. The banking sector contributed the lion’s share of profits, with 58%, rising by 1.1% to $2.09 billion. The best performer was Qatar National Bank (QNB), whose profit rose nearly 3% to $1.2 billion as a result of higher income from operations and new loans. Qatar Islamic Bank (QIB) and Qatar International Islamic Bank (QIIB) also saw 3.2% and 6.4% rises in profit, respectively, as a result of higher interest income and lower loan impairments. But telecom companies had a mixed quarter. Ooredoo’s earnings increased 5.2% to approximately $263 million, backed by reduced forex losses and interest expenses. Vodafone Qatar’s net earnings also increased 8.2%, to approximately $44.5 million, backed by expansion in mobile services and IoT services. The energy sector saw profits rise by 7.5% to around $243 million, with Gulf International Services jumping 37.8% to nearly $61 million. Nakilat’s profit increased by 3.2%, mostly because of higher demand for LNG shipping, even though joint venture income dipped a bit. That said, not all sectors performed equally. The materials and Food & Beverage industries saw declines, which slowed overall growth. Across the GCC, corporate profits grew 2% to roughly $58.6 billion, with Qatar’s slight increase showing how much the country depends on banking and energy, especially during tough global economic times. (Source: Zawya) To read more on Banking News, head to the link.
Deutsche Bank’s ADGM Move: Abu Dhabi’s Secret Weapon in Dubai Finance Rivalry
May 26, 2025
Deutsche Bank’s ADGM Move: Abu Dhabi’s Secret Weapon in Dubai Finance Rivalry
ABU DHABI — Deutsche Bank has obtained a new license within Abu Dhabi Global Market (ADGM), a strategic move that emphasises ADGM’s fast development as a key financial hub, challenging the dominance of Dubai’s DIFC. This expansion follows ADGM’s remarkable 245% increase in assets under management in 2024 and a 32% year-over-year growth in operational entities, establishing it as the fastest-growing financial centre in the Gulf Cooperation Council. Deutsche Bank’s decision aligns with its broader strategy to take advantage of Abu Dhabi’s progressive regulatory reforms, such as 50% fee reductions for non-financial firms and a corporate tax rate of zero per cent on qualifying income, benefits that remain unmatched by DIFC for cost-sensitive institutions. Although DIFC holds a prestigious status for banking institutions, ADGM’s 20.5% annual rise in new licenses and its efficient onboarding process, which allows firms to establish operations in under 72 hours, have attracted companies that prioritise operational agility. The new branch of Deutsche Bank in ADGM, under the leadership of Jean-Pierre Habis, will focus on providing services such as “arranging credit” and “advising on investments,” personalised to meet the needs of Abu Dhabi’s expanding private equity and sovereign wealth fund sectors. Notably, ADGM’s recent partnership with Chainlink to develop frameworks for tokenised assets emphasises its leadership in digital finance, an area where Deutsche Bank is actively seeking to expand its blockchain-based solutions. With minimum lease rates of $15,000—greatly lower than DIFC’s threshold of $35,000—Deutsche Bank stands to benefit from substantial operational savings. In addition, Abu Dhabi’s “We the UAE 2031” strategy, developed to attract foreign capital and foreign investment, confirms in return the bank’s shift to ADGM as part of a grand-strategic readjustment. Competitors like BlackRock and Morgan Stanley already have a presence there, attracted by its 39% increase in personnel in 2024—a precious talent pool for Deutsche Bank’s expanding fintech and sustainable finance franchise. The step is an intensification of the Abu Dhabi-Dubai competition as premier finance hubs. While DIFC has a more concentrated capital market network, ADGM’s common law jurisdiction and strict following of English precedents offer a stronger legal certainty to European firms. Deutsche Bank’s ADGM initiative will likely focus on cross-border structured finance and family office business, tapping into Abu Dhabi’s sovereign wealth fund ecosystem of approximately $1.5 trillion. Deutsche Bank would qualify for ADGM’s “Incentives and Support Programs for Businesses”, could make a significant contribution to value added in the calculation, such as a 0% corporate tax rate on qualifying profits, relief from import tariffs, and 50% fee rebates on non-financial business. These incentives, designed to attract global financial institutions, could help Deutsche Bank reduce operating expenses and extend wealth management coverage across the Middle East and North Africa. Furthermore, incentives for businesses with operations on Al Reem Island—including prospective customs-free importation of IT infrastructure—allow ADGM in its goal to simplify cross-border business logistics. The recent 245% growth in assets under management since 2024 underscores the compelling advantages of the new fee and tax structures, underpinning Deutsche Bank’s strategic build-out in the region. To read more about Banking, head to the link.
Alleem Group’s 21 Goals: Where Cricket Meets Kindness & Sustainability
May 22, 2025
Alleem Group’s 21 Goals: Where Cricket Meets Kindness & Sustainability
AJMAN, UAE — The Bahi Ajman Palace Hotel was buzzing with energy as the Alleem Group opened an inspiring event that mixed community kindness, environmental care, and sports diplomacy through the Rashid Alleem Premier League (RPL). Reported by Al Mudassar News Agency from Dubai, UAE, the gathering highlighted how the UAE is pushing for all-around growth, with initiatives that could shake up the business and social scenes in the region. The event began with Dr. Rashid Alleem, Chair of Alleem Group, sharing his vision of blending compassionate policies with real sustainability plans. He introduced Alleem Sustainability, a platform displaying 21 Alleem Sustainable Development Goals (ASDGs). Dr. Alleem stressed how working together is key to tackling climate issues while promoting comprehensive progress. The ASDGs are in line with international standards but focus on local needs like saving water, switching to renewable energy, and cutting down waste. A real emphasis was the Kindness Revolution Certification Ceremony, recognising 20 people for leading some pretty cool community projects. Now in its third year, this initiative aims to make kindness a core part of society, especially in companies and schools. Experts say it lines up well with the UAE’s broader “Year of Sustainability” goals. The debut of the Rashid Alleem Premier League (RPL) marked a new way to connect sports with youth engagement and healthy living. The cricket league, launching at Sharjah Cricket World, showed off team jerseys made from recycled materials—a nod to the group’s commitment to circular economy practices. Industry insiders think RPL could help the UAE become a global leader in “sports diplomacy.” A new partnership between Alleem Group and Bahi Ajman Palace Hotel was also announced, with plans to co-host the Alleem Business Congress and upcoming sustainability events. This partnership means top-notch logistics and hospitality, helping Ajman shine as a hotspot for big corporate events. To wrap it up, Dr. Alleem encouraged everyone—public and private—to accept the ASDGs, saying, “True progress comes from combining compassion with innovation.” The event’s focus on soft values and clear ecological goals shows a regional trend toward balancing economic growth with societal well-being. To read more about Business News, head to the link.
Qatar Economic Forum 2025: Tech Titans and Policy Makers Chart Path for Digital-First Global Economy
May 20, 2025
Qatar Economic Forum 2025: Tech Titans and Policy Makers Chart Path for Digital-First Global Economy
Doha, Qatar — This week in Doha, Qatar, the 5th Qatar Economic Forum, Powered by Bloomberg, is kicking off under the auspices of His Highness Sheikh Tamim bin Hamad Al-Thani. The focus this year is on how technology is reshaping the global economy. More than 2,500 leaders from government, finance, and tech industries will gather from May 20 to 22 to talk about the big challenges and opportunities brought by digital change, energy security, and cross-border innovation. The theme this year is “The Road to 2030: Transforming the Global Economy,” which means there will be a lot of discussions around AI, blockchain technology, and sustainable tech infrastructure. Some key emphasizes include: Let’s dive into AI & Geopolitics, where experts like Turkey’s Finance Minister H.E. Mehmet Şimşek and Blackstone’s Farhad Karim will chat about how to find the right balance between AI rules and global competition. Then, there’s Blockchain in Emerging Markets. Ola Doudin from BitOasis and Jenny Johnson from Franklin Templeton will share their thoughts on decentralised finance (DeFi) and what’s happening with startups in Africa, plus Bloomberg’s new Africa Startups to Watch list. Lastly, we’ll have discussions on Energy-Tech Cooperation with leaders like Ryan Lance from ConocoPhillips and Markus Krebber from RWE, focusing on mixing renewable energy with smart grid technology. There will also be virtual appearances by Elon Musk and Donald Trump Jr., discussing innovation in the private sector. Meanwhile, Qatar’s own tech initiatives, led by the QRDI Council and Edaa, will emphasize advances in fintech and regulatory sandboxes. To read more on Press Releases, head to the link.
