VIDEO: Gulf IPO proceeds up 33% but faced headwinds in Q1 2025
Share offerings raised $1.6 billion during the quarter, up by 33% from a year ago on the back of robust activity in Saudi Arabia, according to PwC Middle East. Watch the Zawya video here:
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Zawya
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$5bln boost for Sharia housing in Oman and GCC
MUSCAT: A major regional investment firm aims to accelerate the development of affordable, Shariah-compliant housing in Oman and the wider GCC, following a new strategic partnership between international finance institutions. BCIB Holding Co, Ltd, a Thailand-based financial service and investment banking firm, has acquired a 20 per cent stake in Amwalus Finance LLC, a US-incorporated financial institution with strategic operations in Oman, aligning both companies to jointly scale ethical housing finance solutions across the region. The investment is supported by a $5 billion Medium Term Note (MTN) issued by Bastion Commonwealth Investment Bank, the banking arm of BCIB Holding. According to BCIB Holding Co, the proceeds from the MTN will be used to finance housing projects that adhere to Islamic finance principles, addressing the growing demand for inclusive and affordable residential solutions in Oman and neighbouring Gulf countries. The agreement was formalised in a signing ceremony between Low Chun Keong, Managing Director of BCIB Holding, and Wassem Mesto, Managing Director of Amwalus Finance LLC, a wholly owned subsidiary of US-based Amwalus Trust. The ceremony was also attended by Dr Chutamas Vongvorakit, Co-founder and Chief Financial Officer of BCIB Holding. 'This strategic investment, backed by institutional financing through Bastion Commonwealth Investment Bank, underscores our commitment to fostering inclusive and sustainable development in Oman and across the region,' said Low. Amwalus Finance focuses on Shariah-compliant financing for affordable housing. With the new capital injection and support from its strategic partner, the company plans to expand its housing solutions across the GCC, targeting underserved communities. Wassem Mesto welcomed the partnership as a milestone for the company's mission. 'We are proud to welcome BCIB Holding as a key strategic partner in our mission to provide dignified, affordable housing guided by Islamic finance principles,' he said. 'With this collaboration, and the support of Bastion Commonwealth Investment Bank, we are well-positioned to scale our impact across the GCC and meet the growing demand for ethical, inclusive housing solutions.' The alliance reflects BCIB Holding's broader goal to promote long-term socioeconomic development through innovative Islamic financial instruments, with a particular focus on infrastructure and housing. Oman, which is advancing national priorities under Vision 2040, is expected to be a central focus of these investments. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
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Emirates NBD, Siemens to finance UAE's green infrastructure projects
Dubai: Emirates NBD partnered with global technology leader Siemens to finance large-scale green infrastructure projects and support decarburization in the UAE, according to a press release. In line with the UAE's Net Zero by 2050 Strategic Initiative, the joint agreement integrates technology, sustainability, and finance. The collaboration aims to improve and integrate energy efficiency projects, prioritizing sustainability through the adoption of advanced technologies. Both Emirates NBD and Siemens affirmed a strong commitment to aligning on critical areas related to credit and operational considerations. Siemens has modernized over 5,200 buildings worldwide through its advanced green building systems, achieving more than EUR 1 billion in savings and lowering CO2 emissions by 10 million tons. Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said: 'It [agreement] reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.' Al Qassim added: 'By increasing our presence in the sustainability sector, Emirates NBD is well positioned to become the banking partner of choice to provide clients with access to the trusted, secure, and transparent financing solutions they need to drive continuous innovation and long-term success.' Helmut von Struve, CEO of Siemens in the UAE, commented: 'Decarbonizing infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.' In the three-month period that ended on 31 March 2025, Emirates NBD posted 7% year-on-year (YoY) lower net profits after tax at AED 6.21 billion, compared to AED 6.71 billion.
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Egypt aims to ease investor burdens in coming period: Finance Minister
Egypt - Ahmed Kouchouk, Egypt's Minister of Finance, reaffirmed the government's commitment to reducing the financial and procedural burdens on investors, emphasizing that the focus remains on expanding the tax base rather than increasing rates. In a statement released Monday, Kouchouk highlighted that ongoing reforms aim to alleviate both tax and non-tax pressures on businesses. This includes simplifying procedures and unifying collection authorities under a more efficient and investor-friendly system. 'We are implementing a practical and ambitious programme to reduce non-tax burdens and streamline obligations for our taxpayer partners,' he said, adding that a new package of incentives will be introduced in the next fiscal year to build on the current pro-growth tax trajectory. The minister noted that the government is working to rebuild trust with the business community, pointing out that the initial set of facilitative measures has already encouraged many new taxpayers to enter the system. Kouchouk revealed that preliminary results from the current incentive programme will be announced at a press conference before the end of the month. He also observed growing optimism within the business sector and among senior officials at the Egyptian Tax Authority. 'A 38% increase in tax revenues over the past ten months—achieved without imposing additional burdens—is a clear signal that we are on the right track toward fostering a climate of trust and cooperation,' he said.
