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#Islamic Banking

Qatar’s Masraf Al Rayan unveils new brand identity

The rebranding signifies the bank’s commitment to innovation, customer empowerment, and contributing to Qatar’s sustainable growth

Egypt central bank plans United Bank IPO

Completion of the offering is expected to take place before the end of the first quarter of 2025

Qatar Islamic Bank issues $750 million 5-year Sukuk

The five-year unsecured sukuk was priced at 100 basis points over US Treasuries at 4.485%

Kuwait Finance House sells entire stake in Sharjah Islamic Bank

The Kuwaiti lender sold the shares to the Endowment of Sheikh Sultan bin Mohammed bin Saqer Al Qasimi, the Sharjah Social Security Fund and Sharjah Islamic Bank

Dubai Islamic Bank posts AED 3.4 billion in half-year net profit

The bank’s total income soared by 21.3% YoY to AED 11.3 billion, showcasing its ability to drive substantial revenue growth

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

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

Sharjah Islamic Bank successfully issues $500 million sukuk

The issuance received tremendous response from international investors, attracting orders that peaked at $1.5 billion

Islamic banks assets increased by AED 86 billion over past 12 months

The Islamic banks’ deposits increased to AED 509.4 billion at the end of February, reflecting an annual increase of 15.8%

ADIB unveils nationwide business banking expansion plan

The expansion includes strategic collaborations with key partners specialising in serving the SME sector and leveraging its extensive network across key locations in the UAE

QIB’s Q1 2024 net profit jumps 5.5% to QAR 955 million

Total income for the first three months of the year was QAR 2.81 billion compared to QAR 2.41 billion for the same period in 2023

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