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Islamic Finance
Looking ahead with the world’s first Islamic bank
Nearly 40 years ago, Dubai Islamic Bank pioneered the concept of Islamic banking. Today it competes on an equal basis with the world’s largest conventional financial institutions
In 1975, history was created when Dubai Islamic Bank (DIB) became the first modern commercial Islamic bank in the world. Before this, customers had no choice but to use conventional banks for all their financial requirements. By incorporating Sharia princ...
Global Takaful provider valued for innovation
FWU Group is raising the performance bar with innovative ways of responding to market conditions, writes Sohail Jaffer
FWU Group is a leading independent financial services group, founded in 1989, focusing on innovative and customised product design in the field of unit-linked investments and family takaful investment-linked plans for international markets. It has signifi...
The unlikely hero
The attraction of Sharia-compliant finance is largely in its ethos, writes Tessa Albrecht
At a time when the conventional lending system is going up in flames, a quiet yet fast-growing segment of the financial services industry is emerging from the embers as the hero the industry desperately needs. It’s always the quiet ones; yet the pote...
A leader in innovative Islamic Banking
BAJ is one of the fastest growing Sharia-compliant financial corporations in Saudi Arabia,
as evidenced by its rapid growth in deposits, offerings and customer reach channels
BAJ commenced its business in 1976 – one of the few banks operating in Saudi Arabia at the time. In 1998, BAJ’s management took a strategic decision to convert its methods from conventional to Sharia-compliant banking. This change can be described as ...
5 year plan sees review at Boubyan
2010 witnessed radical changes for Boubyan Bank as it targets expansion in the Kuwaiti market, through distinguished products and services fulfilling different needs and aspirations
Winning the Best Islamic Bank award in Kuwait from Arabian Business magazine, and the Best Islamic Bank in Kuwait for Customer Service from Service Hero, was proof the bank is on the right track, whether with respect to product and service development or ...
Innovating Islamic ETFs
New Sharia-compliant opportunities are helping the Gulf region attract additional investments
“Our home is where our heart is. The home market is our biggest opportunity. From the beginning we have been focused $600bn of the $1trn dollar Islamic finance industry” says Adeeb Al Solwailim, chief executive officer of Falcom Financial Serv...
KTPB debuts first Turkish sukuk deal
Kuwait Turkish Participation Bank has won three awards for its issuance, thanks to Liquidity Management House’s innovative financial solutions
The Kuwait Turkish Participation Bank (KTPB) issue is the first ever sukuk out of Turkey. The $100m debut sukuk was issued mainly to fund KTPB’s future expansion plan and general corporate purposes. The transaction attracted a large amount of liquid...
Man of the moment
Entrepreneurial Qatari businessman Shk Khalid Bin Thani Al Thani is an expert in finance and founder of the first and only Sharia-compliant bank in the UK, the Islamic Bank of Britain
Shk Khalid Bin Thani Al Thani is a leading Qatari businessman with interests across many areas, including media, real estate and financial securities. He is also the co-founder and benefactor of a number of non-profit organisations and business associatio...
AMAN nominated “Best Takaful Provider”
Dubai Islamic Insurance and Reinsurance Company is recognised in our 2011 Islamic Finance Awards
This global nomination marks a remarkable achievement for a composite insurance company based in the United Arab Emirates. It is truly a testament to Aman’s dedicated team of highly qualified professionals and the security clients feel that Islamic ...
Project finance success for NCB
A $400bn injection into the Saudi infrastructure, as part of a comprehensive economic stimulus package, is good news for project finance advisories, writes Abdulkareem Abu Al-Nasr
Compared to the relatively “mixed” experience of global markets, Saudi Arabia has enjoyed stability and growth in economic performance during 2010. The economy and stock market has outperformed other countries in the region which reflects cust...
Top 10
Zimbabwe
234.1% of GDP, pariah of debt markets, but with hopes for a healthy twelve months ahead
Japan
197.5%, hard-hit by the tsunami, and reeling from the internal corruption allegations
Greece
142.8%, possibly heading for default, and considered one of many eurozone bad boys
Lebanon
133.8%, deceptively, has a strong banking sector, but little more in an ailing economy
Iceland
126%, hopelessly indebted banks and very little light at the end of a long and gloomy tunnel
Italy
119% of GDP, in need of reform, paying over 7% for its debt thanks to technocratic leadership
Singapore
106%, to many an idyllic investment destination, a great borrower, repayer, and long term option
Belgium
101%, no government for most of 2011 didn’t help a weak economy in dire need of stimulus
Egypt
90%, high but it’s recovering from a long and protracted revolution and aiming high
European Union
82%, stronger countries like Germany are contaminated by the weakest. It could go on…
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