Latest news with #AbuDhabiIslamicBank
Zawya
21-05-2025
- Business
- Zawya
Saudi Alinma Bank's $500mln AT1 sukuk offering launched
Saudi Arabia's Alinma Bank, rated A2 (Stable) by Moody's, and A- (Stable) by both S&P and Fitch, has launched its US dollar-denominated $500 million sukuk with a yield set at 6.5%. Its IPTs were in the 7% area. The sustainable perpetual non-call 5.5-year AT1 offering has an order book in excess of $1.75 billion, excluding JLM interest. The mudaraba sukuk, which comes under Alinma's $1 billion AT1 Capital Certificate Issuance Programme, will be listed on the London Stock Exchange's International Securities Market. Banks mandated include Abu Dhabi Islamic Bank, Alinma Capital, Emirates NBD Bank, Goldman Sachs, JP Morgan Securities and Standard Chartered Bank, which have been appointed as joint lead managers and bookrunners. (Writing by Bindu Rai, editing by Seban Scaria)
Gulf Today
20-05-2025
- Business
- Gulf Today
MoIAT secures over Dhs40 billion in bank partnerships to drive industrial innovation
Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of five Memoranda of Understanding (MoUs) between the ministry and a group of leading national banks: First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. These agreements provide competitive financing solutions exceeding Dhs40 billion to support the development and expansion of the UAE's industrial sector. The MoUs are intended to stimulate investments in industry and advanced technology, offer tailored financing for small and medium-sized enterprises (SMEs), and strengthen strategic public-private partnerships. This initiative supports the UAE's broader objectives for industrial growth and sustainable economic development. Omar Al Suwaidi, Undersecretary of Ministry of Industry and Advanced Technology (MoIAT), represented the ministry. Signatories from the partner banks included Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance, Abdullah Al Shamsi, ADCB's Group Chief Business Officer; Ala'a Eraiqat, Group CEO of Abu Dhabi Commercial Bank Group; Mohammed Abdelbary, Group CEO of Abu Dhabi Islamic Bank; Hisham Al Qassim, Vice Chairman and Managing Director. of Emirates NBD Group; and Jayesh Patel, CEO of WIO Bank. These partnerships underscore MoIAT's commitment to enabling financial access and innovation within the industrial sector. The initiative is designed to foster entrepreneurship, encourage the adoption of advanced technologies, and support the expansion of industrial enterprises across the UAE. Al Suwaidi, said: "The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions. These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy driven by innovation." He highlighted the crucial role of the MoUs in supporting SMEs by improving their ability to scale, adopt advanced technologies, and contribute significantly to the National Strategy for Industry and Advanced Technology. 'We highly value the crucial role of national banks in enhancing the business environment and enabling industry access to flexible, impactful financial solutions. This reflects a robust synergy between the government and the financial sector in advancing the UAE's economic resilience and sustainability,' AI Suwaidi added. On his part, Mohamed Abdulbari Group Chief Executive Officer at Abu Dhabi Islamic Bank (ADIB) said: 'This MoU reflects our commitment to the growth of the UAE's industrial and SME sectors through ethical, Sharia-compliant financing. We are proud to collaborate with MoIAT to deliver innovative banking solutions that align with national development priorities and help businesses scale up with confidence. By supporting the Make it in the Emirates initiative, we are contributing to a more diversified and competitive industrial base, underpinned by advanced technology and empowered by strategic investment. ADIB remains committed to delivering practical, value-driven financial solutions that empower businesses to grow, innovate, and succeed." Hana Al Rostamani, Group Chief Executive Officer at First Abu Dhabi Bank (FAB) said: 'FAB is proud to strengthen its partnership with the Ministry of Industry and Advanced Technology (MoIAT) as we advance the next chapter of the UAE's industrial development. Through this renewed Dhs 5 billion commitment, we will extend tailored, competitive financing to support the full spectrum of industrial enterprises from emerging startups to large manufacturers driving growth across the sector. Surpassing our previous commitment reflects both the strength of the national industrial base and FAB's ability to deploy capital with impact. Together with MoIAT, we are championing an innovation-driven industrial ecosystem that will power the UAE's long-term competitiveness and regional leadership in advanced manufacturing.' Ala'a Eraiqat, ADCB Group Chief Executive Officer, said: 'ADCB is a proud supporter of Make it in the Emirates, an ambitious reflection of the UAE's bold vision for a diversified, innovation-driven economy. As a financial institution deeply rooted in this nation's progress, we view it as both our responsibility and privilege to contribute to shaping a resilient industrial ecosystem that drives long-term value. We remain committed to working collaboratively with our partners to help unlock opportunities that serve both national aspirations and create enduring value for future generations." On his part, Shayne Nelson, Group CEO of Emirates NBD, said: 'Make it in the Emirates initiative is a unique project that will greatly benefit the industrial aspirations of the UAE for many years to come. Emirates NBD is proud to partner with the Ministry of Industry and Advanced Technology on an initiative of such great importance and scope, particularly one that fully aligns with our shared strategic, investment, and development objectives.' He added: 'Our expertise, experience and specialised knowledge of the UAE's economic and industrial landscape means Emirates NBD is well placed to identify, engage, and empower companies, from startups to established firms, that have the product and potential to contribute to the nation's economic vision. Make it in the Emirates is an exciting initiative that will drive growth, welcome investors, and shape the UAE's role as an advanced, dynamic hub for manufacturing, industry and innovation.' Jayesh Patel, CEO of Wio Bank PJSC, said: "The UAE is strengthening its position as a leading destination for advanced industries, with tremendous growth in manufacturing as global businesses expand and invest locally. We are proud to support the drive to Make It in the Emirates through our partnership with MoIAT, combining Wio Bank's digital banking capabilities with the ministry's mission to accelerate industrial innovation and diversification. Through this initiative, Wio aims to extend up to Dhs 1 billion in working capital to eligible corporates and SMEs, and in doing so, enabling smarter access to financial services and supporting the growth of high-impact technology-driven enterprises that are vital to the UAE's economic transformation.'
Al Etihad
20-05-2025
- Business
- Al Etihad
MoIAT secures over Dh40 billion in bank partnerships to drive industrial innovation
20 May 2025 20:13 ABU DHABI (WAM)Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of five Memoranda of Understanding (MoUs) between the ministry and a group of leading national banks: First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO agreements provide competitive financing solutions exceeding Dh40 billion to support the development and expansion of the UAE's industrial MoUs are intended to stimulate investments in industry and advanced technology, offer tailored financing for small and medium-sized enterprises (SMEs), and strengthen strategic public-private partnerships. This initiative supports the UAE's broader objectives for industrial growth and sustainable economic Al Suwaidi, Under-Secretary of Ministry of Industry and Advanced Technology (MoIAT), represented the ministry. Signatories from the partner banks included Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance, Abdullah Al Shamsi, ADCB's Group Chief Business Officer; Ala'a Eraiqat, Group CEO of Abu Dhabi Commercial Bank Group; Mohammed Abdelbary, Group CEO of Abu Dhabi Islamic Bank; Hisham Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group; and Jayesh Patel, CEO of WIO partnerships underscore MoIAT's commitment to enabling financial access and innovation within the industrial sector. The initiative is designed to foster entrepreneurship, encourage the adoption of advanced technologies, and support the expansion of industrial enterprises across the Suwaidi, said, "The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions. These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy driven by innovation."He highlighted the crucial role of the MoUs in supporting SMEs by improving their ability to scale, adopt advanced technologies, and contribute significantly to the National Strategy for Industry and Advanced Technology.'We highly value the crucial role of national banks in enhancing the business environment and enabling industry access to flexible, impactful financial solutions. This reflects a robust synergy between the government and the financial sector in advancing the UAE's economic resilience and sustainability,' AI Suwaidi his part, Mohamed Abdulbari Group Chief Executive Officer at Abu Dhabi Islamic Bank (ADIB), said, 'This MoU reflects our commitment to the growth of the UAE's industrial and SME sectors through ethical, Sharia-compliant financing. We are proud to collaborate with MoIAT to deliver innovative banking solutions that align with national development priorities and help businesses scale up with confidence."Hana Al Rostamani, Group Chief Executive Officer at First Abu Dhabi Bank (FAB), said, 'FAB is proud to strengthen its partnership with the Ministry of Industry and Advanced Technology (MoIAT) as we advance the next chapter of the UAE's industrial development. Through this renewed Dh5 billion commitment, we will extend tailored, competitive financing to support the full spectrum of industrial enterprises from emerging startups to large manufacturers driving growth across the sector. "Surpassing our previous commitment reflects both the strength of the national industrial base and FAB's ability to deploy capital with impact. Together with MoIAT, we are championing an innovation-driven industrial ecosystem that will power the UAE's long-term competitiveness and regional leadership in advanced manufacturing.'Ala'a Eraiqat, ADCB Group Chief Executive Officer, said, 'ADCB is a proud supporter of Make it in the Emirates, an ambitious reflection of the UAE's bold vision for a diversified, innovation-driven economy. As a financial institution deeply rooted in this nation's progress, we view it as both our responsibility and privilege to contribute to shaping a resilient industrial ecosystem that drives long-term value. We remain committed to working collaboratively with our partners to help unlock opportunities that serve both national aspirations and create enduring value for future generations."On his part, Shayne Nelson, Group CEO of Emirates NBD, said, 'Make it in the Emirates initiative is a unique project that will greatly benefit the industrial aspirations of the UAE for many years to come. Emirates NBD is proud to partner with the Ministry of Industry and Advanced Technology on an initiative of such great importance and scope, particularly one that fully aligns with our shared strategic, investment, and development objectives.'He added, 'Our expertise, experience and specialised knowledge of the UAE's economic and industrial landscape means Emirates NBD is well placed to identify, engage, and empower companies, from startups to established firms, that have the product and potential to contribute to the nation's economic vision. Make it in the Emirates is an exciting initiative that will drive growth, welcome investors, and shape the UAE's role as an advanced, dynamic hub for manufacturing, industry and innovation.'Jayesh Patel, CEO of Wio Bank PJSC, said, "The UAE is strengthening its position as a leading destination for advanced industries, with tremendous growth in manufacturing as global businesses expand and invest locally. We are proud to support the drive to Make It in the Emirates through our partnership with MoIAT, combining Wio Bank's digital banking capabilities with the ministry's mission to accelerate industrial innovation and diversification. "Through this initiative, Wio aims to extend up to AED1 billion in working capital to eligible corporates and SMEs, and in doing so, enabling smarter access to financial services and supporting the growth of high-impact technology-driven enterprises that are vital to the UAE's economic transformation.' Make it in the Emirates Continue full coverage
Mid East Info
20-05-2025
- Business
- Mid East Info
Make it in the Emirates: MoIAT Secures over AED 40bn in Bank Partnerships to Drive Industrial Innovation
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of five Memoranda of Understanding (MoUs) between the ministry and a group of leading national banks: First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. These agreements provide competitive financing solutions exceeding AED 40 billion to support the development and expansion of the UAE's industrial sector. The MoUs are intended to stimulate investments in industry and advanced technology, offer tailored financing for small and medium-sized enterprises (SMEs), and strengthen strategic public-private partnerships. This initiative supports the UAE's broader objectives for industrial growth and sustainable economic development. His Excellency Omar Al Suwaidi, Undersecretary of Ministry of Industry and Advanced Technology (MoIAT), represented the ministry. Signatories from the partner banks included Fahad Al Shaer, CEO of First Abu Dhabi Islamic Finance, Abdullah Al Shamsi, ADCB's Group Chief Business Officer ; Ala'a Eraiqat, Group CEO of Abu Dhabi Commercial Bank Group; Mohammed Abdelbary, Group CEO of Abu Dhabi Islamic Bank; Hisham Al Qassim, Vice Chairman and Managing Director. of Emirates NBD Group; and Jayesh Patel, CEO of WIO Bank. These partnerships underscore MoIAT's commitment to enabling financial access and innovation within the industrial sector. The initiative is designed to foster entrepreneurship, encourage the adoption of advanced technologies, and support the expansion of industrial enterprises across the UAE. HE Al Suwaidi, said: 'The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions. These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy driven by innovation.' He highlighted the crucial role of the MoUs in supporting SMEs by improving their ability to scale, adopt advanced technologies, and contribute significantly to the National Strategy for Industry and Advanced Technology. 'We highly value the crucial role of national banks in enhancing the business environment and enabling industry access to flexible, impactful financial solutions. This reflects a robust synergy between the government and the financial sector in advancing the UAE's economic resilience and sustainability,' HE AI Suwaidi added. On his part, Mohamed Abdulbari Group Chief Executive Officer at Abu Dhabi Islamic Bank (ADIB) said: 'This MoU reflects our commitment to the growth of the UAE's industrial and SME sectors through ethical, Sharia-compliant financing. We are proud to collaborate with MoIAT to deliver innovative banking solutions that align with national development priorities and help businesses scale up with confidence. By supporting the Make it in the Emirates initiative, we are contributing to a more diversified and competitive industrial base, underpinned by advanced technology and empowered by strategic investment. ADIB remains committed to delivering practical, value-driven financial solutions that empower businesses to grow, innovate, and succeed. ' Hana Al Rostamani, Group Chief Executive Officer at First Abu Dhabi Bank (FAB) said: 'FAB is proud to strengthen its partnership with the Ministry of Industry and Advanced Technology (MoIAT) as we advance the next chapter of the UAE's industrial development. Through this renewed AED 5 billion commitment, we will extend tailored, competitive financing to support the full spectrum of industrial enterprises from emerging startups to large manufacturers driving growth across the sector. Surpassing our previous commitment reflects both the strength of the national industrial base and FAB's ability to deploy capital with impact. Together with MoIAT, we are championing an innovation-driven industrial ecosystem that will power the UAE's long-term competitiveness and regional leadership in advanced manufacturing.' Ala'a Eraiqat, ADCB Group Chief Executive Officer, said: 'ADCB is a proud supporter of Make it in the Emirates, an ambitious reflection of the UAE's bold vision for a diversified, innovation-driven economy. As a financial institution deeply rooted in this nation's progress, we view it as both our responsibility and privilege to contribute to shaping a resilient industrial ecosystem that drives long-term value. We remain committed to working collaboratively with our partners to help unlock opportunities that serve both national aspirations and create enduring value for future generations. ' On his part, Shayne Nelson, Group CEO of Emirates NBD, said: 'Make it in the Emirates initiative is a unique project that will greatly benefit the industrial aspirations of the UAE for many years to come. Emirates NBD is proud to partner with the Ministry of Industry and Advanced Technology on an initiative of such great importance and scope, particularly one that fully aligns with our shared strategic, investment, and development objectives.' He added: 'Our expertise, experience and specialised knowledge of the UAE's economic and industrial landscape means Emirates NBD is well placed to identify, engage, and empower companies, from startups to established firms, that have the product and potential to contribute to the nation's economic vision. Make it in the Emirates is an exciting initiative that will drive growth, welcome investors, and shape the UAE's role as an advanced, dynamic hub for manufacturing, industry and innovation.' Jayesh Patel, CEO of Wio Bank PJSC, said: 'The UAE is strengthening its position as a leading destination for advanced industries, with tremendous growth in manufacturing as global businesses expand and invest locally. We are proud to support the drive to Make It in the Emirates through our partnership with MoIAT, combining Wio Bank's digital banking capabilities with the ministry's mission to accelerate industrial innovation and diversification. Through this initiative, Wio aims to extend up to AED 1 billion in working capital to eligible corporates and SMEs, and in doing so, enabling smarter access to financial services and supporting the growth of high-impact technology-driven enterprises that are vital to the UAE's economic transformation.'
Arab News
19-05-2025
- Business
- Arab News
Pakistan explores collaboration opportunities with UAE-based banks for economic growth
KARACHI: Finance Minister Muhammad Aurangzeb on Monday held meetings with three UAE-based banks which concluded with both sides expressing their desire to explore potential avenues for collaboration for economic growth, Pakistan's finance ministry said. The ministry held a series of virtual meetings with three UAE-based banks, Sharjah Islamic Bank, Abu Dhabi Islamic Bank, and Ajman Bank. The meeting, chaired by Aurangzeb, focused on the banks' support for Pakistan's development and fiscal objectives, the finance ministry said. 'The meeting concluded with mutual interest in continuing the dialogue and exploring potential avenues for collaboration,' the finance ministry said. 'The finance minister reaffirmed Pakistan's openness to quality commercial partnerships that contribute to economic growth, development financing, and investor confidence.' Aurangzeb said Pakistan is on the path to macroeconomic stability. He noted that this year, Pakistan's forex reserves are approaching the $14 billion mark, which would provide the nation with three months of import cover. Pakistan has undertaken structural, financial reforms in recent months mandated by the International Monetary Fund (IMF) in exchange for bailout programs from the international lender. These include increasing its tax base, introducing reforms in the energy sector and privatizing loss-making public assets. Aurangzeb underscored that the government is 'firmly committed' to long-term reforms. 'We have broken away from the old boom and bust cycle,' the minister said. 'The current stability is backed by difficult but necessary reforms— and we are staying the course.' He shared that Pakistan is set to reach a tax-to-GDP ratio of 10.6 percent by June 2025, with a target of 11 percent in the next fiscal year, the ministry said. 'During the interactive sessions, senior executives of the three banks acknowledged the progress and shared their comments and views on Pakistan's economic plans,' the statement said. The UAE is Pakistan's third-largest trading partner after China and the US, and a major source of foreign investment, with over $10 billion invested in the last two decades. The Gulf country is also home to over a million expatriates from Pakistan, the second-largest overseas Pakistani community globally, and a major source of remittances.
