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Fitch says GCC banks show robust appetite for global expansion

GCC banks’ interest in Egypt is gaining momentum, driven by the improved macroeconomic environment

Ajman Bank posts AED 233 million in H1 2024 net profit

The strong results were supported by a healthy balance sheet with total assets of AED 24.2 billion, customer deposits of AED 20.2 billion, and equity of AED 2.9 billion

SAMA regulations enhance Saudi Islamic banks’ Sharia governance, Fitch says

The regulations issued cover profit-sharing investment accounts and aim to enhance Sharia compliance

Bank of Sharjah reports net profit of AED80 million in Q1 2024

The bank’s robust metrics result from strict adherence to a focused approach to funding, lending, and operational effectiveness

Fitch affirms Ajman Bank’s ratings at ‘AA+’, outlook ‘stable’

The bank’s rating is driven by potential support from the UAE authorities if needed, as reflected in its government support rating of “bbb+”

Egypt’s credit score downgraded by Fitch Ratings to ‘B-‘

The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025

Islamic funds’ assets under management fall on rate rises

Islamic funds’ AuM fell by 4% quarter-over-quarter (QoQ) in the GCC, Malaysia, Indonesia and Pakistan.

Fitch affirms Emirates Development Bank at ‘AA-‘

Fitch Ratings has affirmed its 'AA-' Long-Term Issuer Rating (IDR) for Emirates Development Bank ('EDB' or 'the Bank') with a stable outlook. The agency maintained...

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