Commercial Bank of Dubai
Commercial Bank of Dubai
The facility will enable Siemens's UAE unit to execute its expanding pipeline of projects and drive future growth
Commercial Bank of Dubai
The deal will provide financial agility to key development projects, including the much-anticipated Mina Al Arab Arif Amiri
The six-month programme includes banks, fintech players, regulators and the industry with the potential to unlock the next wave of growth for the sector Buy now Pay later
CBD and buy now, pay later provider Postpay team up on new debt financing arrangement Commercial Bank of Dubai
Shari'a compliant real estate investment trust agrees facility with Emirates NBD and Commercial Bank of Dubai buy now pay later scheme
As the world went into lockdown last year at the onset of the coronavirus pandemic, a great number of people turned to online shopping, whether for necessity or leisure Ajman Bank PJSC
Islamic syndication facility attracted more than 75% oversubscription and was fully subscribed by 12 banks Accion Venture Lab
Now Money receives $7m boost as it seeks to launch operations in Saudi Arabia Abu Dhabi Commercial Bank
New research says UAE banks are generating healthy earnings despite tougher economic conditions in Q1 bank merger
More than 20 Gulf financial institutions with total assets exceeding $1 trillion are said to be in merger talks Abu Dhabi Commercial Bank
Alvarez & Marsal releases latest UAE Banking Pulse report on performance of 10 largest listed banks in the UAE Abraaj
A growing number of companies have declared that they have direct or indirect exposure to the troubled private equity firm. CBD
Brand View: Khaled Rasheed Al Hamadi has more than 20 years of experience in the financial industry
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Gulf Today
8 hours ago
- Gulf Today
UAE's Islamic finance and halal industry poised for robust growth
The UAE continues to cement its status as a leading global hub for Islamic finance and the halal industry, aligned with a comprehensive development vision aimed at diversifying the national economy and enhancing global competitiveness. Backed by forward-thinking government policies, a modern regulatory framework, and cutting-edge financial and industrial infrastructure, both sectors are witnessing dynamic growth. The UAE is investing heavily in a knowledge- and innovation-based economy, with Islamic finance and halal products playing key roles in this transformation. In May, the UAE launched a national strategy for Islamic finance and halal industry development. The plan sets out to create an integrated ecosystem for Islamic financial activities, including banking, Takaful (Islamic insurance), Sukuk (Islamic bonds), and non-banking financial services-aligned with international best practices and standards. According to February data from the Central Bank of the UAE, Islamic banks now account for approximately 18 per cent of total banking assets and 22.8 per cent of total credit within the national banking sector. The Islamic Sukuk market, in particular, has expanded significantly. Notably, the federal government launch of the dirham-denominated Islamic Treasury Sukuk (T-Sukuk) in 2023, signaling a new era for the sector. The UAE is now recognised as one of the world's largest Sukuk listing centres. As of May, Sukuk listed on Nasdaq Dubai exceeded $95.7 billion, reinforcing the country's position as a global hub for Sharia-compliant fixed-income instruments. In the 2023, the country was ranked fourth globally in Islamic financial markets by assets, according to the 2023 Islamic Finance Development Indicator based on total assets. Jamal Saleh, Director-General of the UAE Banks Federation (UBF), noted that the strategy outlines ambitious goals to elevate the Islamic economy's role both domestically, regionally, and internationally. In statements to the Emirates News Agency, Saleh highlighted the UAE's successful development of financial systems that have empowered the Islamic banking sector as part of the nation's broader diversification agenda. He pointed to significant strides in Islamic banking, Sukuk issuance, and broader Sharia-compliant finance. Saleh also noted the sector's impressive growth trajectory. As of February 2025, total credit granted by Islamic banks reached Dhs503.5 billion, a 16 per cent year-on-year increase. Private sector credit alone stood at Dhs350.4 billion, growing 13.2 per cent annually. Meanwhile, deposits at Islamic banks surged to Dhs595.3 billion, marking an annual growth rate of 16.9 per cent. Parallel to its financial achievements, the UAE is asserting itself as a global halal industry hub. Under the newly approved national strategy, the UAE aims to increase halal exports from Dhs74 billion to Dhs315 billion by 2031, leveraging its strategic location and world-class infrastructure. Saleh Lootah, Chairman of the UAE Food and Beverage Manufacturers Group, in statements to WAM, said that the strategy is a landmark step toward establishing the UAE as a global halal production centre. He highlighted growing local manufacturer interest in expanding into this vital sector, particularly as global demand for halal products accelerates. According to a report by Bonafide Research on the halal food and beverage market in the UAE, the market size is projected to exceed $31.27 billion by 2029. This growth reflects the increasing demand for halal-certified products, both within the country and globally, as consumers become more conscious of dietary and ethical standards. The UAE's strategic location as a global trade and tourism hub plays a key role in driving this expansion. Its position enhances the country's appeal to both local and international consumers seeking trusted halal-certified goods, reinforcing the UAE's reputation as a leading centre for halal commerce. Meanwhile the Islamic finance sector in the UAE benefits from a dynamic economic environment and advanced regulatory policies that support Sharia-compliant financial activities. Since the establishment of the UAE's first Islamic bank in 1975, the sector has grown significantly over the decades, becoming a fundamental pillar of the national economy. The industry encompasses Islamic banks, Islamic windows in conventional banks, and sukuk (Islamic bonds), which have witnessed rapid growth in both domestic and international markets. The UAE is committed to developing economic policies and legislation to enhance Islamic finance and the broader Islamic economy. These efforts align with national objectives to ensure sustainable economic growth and establish the UAE as a global hub for the Islamic economy. WAM
The National
9 hours ago
- The National
About 20 million bpd of crude in focus amid Israel and Iran tensions
About 20 million barrels per day of oil and refined products could be affected if shipping operations are disrupted along the Strait of Hormuz amid the continued tensions between Israel and Iran, according to analysts. The Strait of Hormuz is a narrow water channel in the Arabian Gulf between Iran and Oman, where oil tankers carry large volumes of oil and refined products to different destinations from Gulf producers as well as from Iran and Iraq. Iran in the past has threatened to close the strait for maritime traffic in retaliation for western pressure. Any closure could impact trade and oil supplies flowing to global markets. 'The Strait of Hormuz remains the critical chokepoint,' Jorge Leon, head of geopolitical analysis at Rystad Energy, said. 'Around 12 million barrels per day of crude oil pass through the strait, over 80 per cent of it bound for Asia. Including refined products, the total volume can reach up to 20 million barrels per day.' While Saudi Arabia and the UAE have spare pipeline capacity to bypass the strait, it is limited, he said. Saudi Arabia's East-West pipeline and the UAE's Habshan-Fujairah pipeline together can handle around half of the flow, he added. 'The strait is jointly controlled with Oman, and past tactics have included seizing or harassing tankers by jamming their GPS signals to draw them into Iranian waters. This increases the risks of navigating the route.' Last year, Iran 's Revolutionary Guard seized a container ship with links to Israel in the Strait of Hormuz. Tensions across the Middle East rose on Friday after Israel launched a wave of strikes across Iran, killing senior military officials and hitting key nuclear sites. Iran also launched retaliatory missile strikes on Israel into Saturday morning, killing at least three people and wounding dozens, raising concerns of a wider Middle East war. Oil prices have surged in response to rise in tensions in the Middle East. Brent and West Texas Intermediate (WTI), the gauge that tracks US crude, had jumped more than 13 per cent before settling at around 8 per cent higher on Friday. 'While Iran has threatened to block the strait before, their current weakened position makes this uncertain. There's still a risk from Iran's proxies like Houthi rebels and Hamas, who may retaliate,' Phil Flynn, senior market analyst at the Price Futures Group, said. Last year, Houthi rebels have carried out attacks on ships passing through the Red Sea, disrupting maritime traffic and causing oil prices to rise on supplies worries. Many shipping companies were forced to reroute and take a longer route around the Cape of Good Hope at the southern tip of Africa to transport cargo to Europe and other destinations. Houthis said they launched attacks on ships, in solidarity with Hamas fighting against Israel in Gaza. Shipping companies urged to take extra measures 'The situation is very tense, and we have reports that more shipowners are now exercising extra caution and are opting to stay away from the Red Sea and the Arabian Gulf,' Jakob P Larsen, chief safety and security officer with shipping association Bimco, told The National in a statement. If the US is perceived to be involved in attacks, 'the risk of escalation increases significally,' which will impact freedom of navigation in the Red Sea and Strait of Hormuz. 'Such an escalation could include missile attacks on ships or laying of sea mines in the strait,' he added. Bimco has advised shipowners to follow developments closely and implement ship defence measures as tensions continued to rise between Israel and Iran. India's directorate general of shipping also urged Indian-flagged vessels and Indian seafarers transiting through the Strait of Hormuz "to exercise due caution while operating in or navigating through the region," according to an advisory on its website. Oil at $100 per barrel There is an elevated risk premium in the market that could push oil prices higher, analysts said. 'While a full blockade remains unlikely, the possibility, even if small, helps explain the elevated risk premium in the market today,' Mr Leon said. Iman Nasseri, managing director of Middle East at FGE Nexant, expects oil to jump above $100 per barrel if the strait is closed. "It seems like $70 to $80 (per barrel) would be the range for the short term if there is no closure of strait, if the strait gets closed, then we're looking at $90 and even above $100," Mr Nasseri told The National.
Al Etihad
13 hours ago
- Al Etihad
UAE's Islamic finance, halal industry poised for robust growth, economic diversification
14 June 2025 12:30 ABU DHABI (WAM)The UAE continues to cement its status as a leading global hub for Islamic finance and the halal industry, aligned with a comprehensive development vision aimed at diversifying the national economy and enhancing global by forward-thinking government policies, a modern regulatory framework, and cutting-edge financial and industrial infrastructure, both sectors are witnessing dynamic growth. The UAE is investing heavily in a knowledge- and innovation-based economy, with Islamic finance and halal products playing key roles in this May, the UAE launched a national strategy for Islamic finance and halal industry development. The plan sets out to create an integrated ecosystem for Islamic financial activities, including banking, Takaful (Islamic insurance), Sukuk (Islamic bonds), and non-banking financial services—aligned with international best practices and to February data from the Central Bank of the UAE, Islamic banks now account for approximately 18% of total banking assets and 22.8% of total credit within the national banking Islamic Sukuk market, in particular, has expanded significantly. Notably, the federal government launch of the dirham-denominated Islamic Treasury Sukuk (T-Sukuk) in 2023, signalling a new era for the UAE is now recognised as one of the world's largest Sukuk listing centres. As of May, Sukuk listed on Nasdaq Dubai exceeded $95.7 billion, reinforcing the country's position as a global hub for Sharia-compliant fixed-income 2023, the country was ranked fourth globally in Islamic financial markets by assets, according to the 2023 Islamic Finance Development Indicator based on total Saleh, Director-General of the UAE Banks Federation (UBF), noted that the strategy outlines ambitious goals to elevate the Islamic economy's role both domestically, regionally, and statements to the Emirates News Agency (WAM), Saleh highlighted the UAE's successful development of financial systems that have empowered the Islamic banking sector as part of the nation's broader diversification pointed to significant strides in Islamic banking, Sukuk issuance, and broader Sharia-compliant also noted the sector's impressive growth trajectory. As of February 2025, total credit granted by Islamic banks reached AED503.5 billion, a 16% year-on-year increase. Private sector credit alone stood at AED350.4 billion, growing 13.2% deposits at Islamic banks surged to AED595.3 billion, marking an annual growth rate of 16.9%.Parallel to its financial achievements, the UAE is asserting itself as a global halal industry hub. Under the newly approved national strategy, the UAE aims to increase halal exports from AED74 billion to AED315 billion by 2031, leveraging its strategic location and world-class Lootah, Chairman of the UAE Food and Beverage Manufacturers Group, in statements to WAM, said that the strategy is a landmark step toward establishing the UAE as a global halal production highlighted growing local manufacturer interest in expanding into this vital sector, particularly as global demand for halal products to a report by Bonafide Research on the halal food and beverage market in the UAE, the market size is projected to exceed $31.27 billion by 2029. This growth reflects the increasing demand for halal-certified products, both within the country and globally, as consumers become more conscious of dietary and ethical standards. The UAE's strategic location as a global trade and tourism hub plays a key role in driving this expansion. Its position enhances the country's appeal to both local and international consumers seeking trusted halal-certified goods, reinforcing the UAE's reputation as a leading centre for halal commerce.
