Latest news with #Emarati
Business Wire
03-06-2025
- Business
- Business Wire
Music Nation Approved by United Arab Emirates to Launch World-class Collective Management Organization, Providing Vital New Royalties for Music Rights Holders
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Music Nation Copyrights Management (Music Nation), a pioneer in music rights management in the United Arab Emirates, today announced the company received formal approval to license, collect and distribute royalties from public performance and neighboring rights, delivering a vital new source of revenue for music rights holders. With best-in-class tools, technology and leading industry partnerships with Broadcast Music Inc. (BMI), the largest performing rights organization in the world, and SoundExchange Inc., the recording industry's top digital global collective management organization, Music Nation will be the industry's first rights management organization capable of natively collecting performance, mechanical and neighboring rights. Music Nation is part of a broad UAE initiative to support the creation of a thriving music ecosystem and to elevate the region's music industry by protecting the rights of music creators and compensating them for the commercial use of their work. This vital new source of royalty revenue in the UAE will help recording artists, songwriters, composers and others create sustainable careers and ensure music creators, labels, publishers and other music copyright owners, both local and international, are compensated for the use of their work. 'Today marks a pivotal moment for the UAE and Music Nation,' said Chairwoman Rasha Khalifa Al Mubarak. 'After years of careful planning, Music Nation is positioned to become a cornerstone of music licensing, empowering the Emirates' vibrant creative industry. As an Emarati, I am honored to establish a world-class music rights infrastructure that not only elevates local artists to greater heights, but also showcases our rich musical heritage and cultural traditions to the world. In partnership with industry leaders BMI and SoundExchange, our cutting-edge technology and services will protect music rights holders and propel the UAE's music economy to new frontiers.' His Excellency Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, said, 'The Ministry continues its efforts to develop an advanced system for the governance of copyright and related rights, based on global best practices. This is achieved by developing regulatory and legislative frameworks, stimulating investment in creativity, and supporting effective collective management systems that ensure the protection of rights and enhance the confidence of creators and musicians in the country's creative climate. The collective management license for music plays an important role in promoting a creative culture in society, providing comprehensive protection for the intellectual property rights of musicians and artists, and providing mechanisms to ensure financial justice for artists and creators in the distribution of revenues and transparency in the collection and distribution of copyrights. This supports raising the competitiveness of the music industry in the country and making it an attractive destination for creative and cultural works worldwide.' Mike O'Neill, President and Chief Executive Officer of BMI, said, 'We are thrilled to partner with Rasha, the Music Nation team and SoundExchange to ensure that music creators in the UAE have the opportunity to turn their passion into their careers by being paid for their creative work. BMI has always been an unwavering advocate for the songwriters, composers and rights holders behind the songs the world loves, and we're excited to provide our music licensing infrastructure, expertise and deep experience fostering career development to benefit the region's incredible creators. There are endless possibilities ahead that Music Nation will deliver, and we look forward to a bright future together.' Michael Huppe, President and CEO of SoundExchange, said, 'This is a major milestone and a vote of confidence from the UAE Ministry of Economy in the combined abilities of Music Nation, SoundExchange, and BMI. We're excited to get to work establishing the region's premier collective management organization and serving creators with the same level of excellence we have for more than two decades in the U.S.' Music Nation will begin collecting royalties in the UAE for more than 2 million songwriters, composers, publishers, artists, sound recording owners and other music creators. The UAE and the broader Middle East and North Africa (MENA) region remain the fastest-growing music market in the world, with the IFPI reporting the territory expanded in 2024 for a tenth consecutive year. Music revenue in MENA last year climbed by 22.8%, outpacing the global average of 5.9% growth. NOTE TO EDITORS: Photos from a ceremony the Ministry of Economy held on May 27, 2025 for Music Nation can be accessed HERE. Photos are Courtesy of the UAE's Ministry of Economy. About Music Nation Music Nation, a pioneer in music rights management in the UAE, licenses the rights of authors, publishers, sound recording owners and performers throughout the United Arab Emirates (UAE). These rights are referred to as neighboring rights (for sound recordings), public performance rights (for musical compositions) and mechanical reproduction rights (also for musical compositions). With world-class partnerships and technology, Music Nation is helping implement the UAE's vision for the protection and enforcement of musical copyrights by developing a world-class music licensing and royalty distribution infrastructure. Music Nation, with its partners BMI and SoundExchange, will help ensure that music creators and rights holders are fully and fairly compensated for the use of their work. For more information, visit
Mid East Info
10-02-2025
- Business
- Mid East Info
Emirates Islamic wins four prestigious awards at the World Finance Islamic Finance Awards 2024 - Middle East Business News and Information
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has secured four prestigious awards at the World Finance Islamic Finance Awards 2024, recognising the bank's strong performance, industry leadership and excellence in products and services. Emirates Islamic was named 'Best Islamic Bank in UAE 2024' for the bank's stellar performance across banking segments and for driving growth in the uptake of Islamic banking solutions across the UAE. The bank has consistently delivered Shariah-compliant banking solutions that cater to the needs of individuals and businesses, with a focus on customer service, product innovation and digital advancement, reinforcing its role as a leader in the sector. Further, the bank was awarded 'Best SME Bank in the UAE 2024' for its commitment to support small and medium enterprises (SMEs) in the region. With its innovative SME banking products, digital platforms and expert team, the bank actively serves more than 40,000 SMEs, with one in 15 UAE SMEs banking with Emirates Islamic, highlighting the strength of the bank's value proposition. Emirates Islamic has introduced several initiatives to support and further the growth of the UAE SME sector. The bank has introduced specialised bank accounts, including the 'Businesswomen Account', a specially curated account package designed for women entrepreneurs in the UAE and the 'Emarati Absher Account', designed exclusively to provide a comprehensive suite of premium banking solutions for Emarati start-ups in the UAE. Further, Emirates Islamic continues to invest in digitisation to bring in operational efficiencies, with more than 45 services available on businessONLINE, and 90% of new accounts onboarded through the Assisted Digital journey. The bank also embarked onto the journey of Advanced Analytics to hyper-personalise the product needs of the SMEs and engaged in strategic collaborations to support SMEs in the region. Recognising the bank's integration of Environmental, Social, and Governance (ESG) principles within Islamic banking and promotion of ethical and sustainable financial practices that align with Shariah principles and modern ESG standards, Emirates Islamic was awarded 'Best Islamic Bank for ESG 2024'. Reaffirming its commitment to sustainable Islamic financing, the bank issued its first ever five-year USD 750 million Sustainability Sukuk in May 2024. A milestone issuance for the Islamic finance industry in the UAE and the region, it garnered substantial interest from global investors, reinforcing the bank's dedication in addressing climate change by offering customers sustainable Islamic solutions. Lastly, the bank was lauded for its user-friendly and secure mobile banking platform and awarded the 'Best Innovation in Mobile Banking 2024'. Over the years, the bank's innovative approach has enhanced customer experience and set a new benchmark for mobile banking in the UAE. Farid AlMulla, Chief Executive Officer of Emirates Islamic, said: 'As a home-grown Islamic bank, we are honoured to be awarded these prestigious international accolades. A key component of our success has been providing a comprehensive Islamic banking proposition to all our customers, backed by seamless, customer-centric banking experiences that are both rewarding and memorable. We look forward to continuing our endeavor to provide customers with the best in Islamic banking in the region through innovative Shariah-compliant financial products and services.' Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said: 'We are proud and sincerely humbled to win major recognition at the World Finance Islamic Finance Awards 2024. Emirates Islamic has contributed significantly to raising the profile of Islamic banking in the UAE and a key component of our success over the last few years has been our pursuit of innovation. Over the years, we have played a key role in setting new benchmarks for the Islamic banking sector in the UAE, whether through the introduction of new products and services, digital initiatives or sustainability offerings.' The World Finance Islamic Finance Awards bring together key players in the Islamic finance industry and recognises the most successful operators from around the globe. The awards are held annually by World Finance, a leading financial magazine published by World News Media in the United Kingdom. The judging panel comprises senior financial and business journalists, supported by a research team as well as reader insight and experience to provide nominations to the judging panel.
Al Bawaba
10-02-2025
- Business
- Al Bawaba
Emirates Islamic wins four prestigious awards at the World Finance Islamic Finance Awards 2024
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has secured four prestigious awards at the World Finance Islamic Finance Awards 2024, recognising the bank's strong performance, industry leadership and excellence in products and services. Emirates Islamic was named 'Best Islamic Bank in UAE 2024' for the bank's stellar performance across banking segments and for driving growth in the uptake of Islamic banking solutions across the UAE. The bank has consistently delivered Shariah-compliant banking solutions that cater to the needs of individuals and businesses, with a focus on customer service, product innovation and digital advancement, reinforcing its role as a leader in the sector. Further, the bank was awarded 'Best SME Bank in the UAE 2024' for its commitment to support small and medium enterprises (SMEs) in the region. With its innovative SME banking products, digital platforms and expert team, the bank actively serves more than 40,000 SMEs, with one in 15 UAE SMEs banking with Emirates Islamic, highlighting the strength of the bank's value proposition. Emirates Islamic has introduced several initiatives to support and further the growth of the UAE SME sector. The bank has introduced specialised bank accounts, including the 'Businesswomen Account', a specially curated account package designed for women entrepreneurs in the UAE and the 'Emarati Absher Account', designed exclusively to provide a comprehensive suite of premium banking solutions for Emarati start-ups in the UAE. Further, Emirates Islamic continues to invest in digitisation to bring in operational efficiencies, with more than 45 services available on businessONLINE, and 90% of new accounts onboarded through the Assisted Digital journey. The bank also embarked onto the journey of Advanced Analytics to hyper-personalise the product needs of the SMEs and engaged in strategic collaborations to support SMEs in the region. Recognising the bank's integration of Environmental, Social, and Governance (ESG) principles within Islamic banking and promotion of ethical and sustainable financial practices that align with Shariah principles and modern ESG standards, Emirates Islamic was awarded 'Best Islamic Bank for ESG 2024'. Reaffirming its commitment to sustainable Islamic financing, the bank issued its first ever five-year USD 750 million Sustainability Sukuk in May 2024. A milestone issuance for the Islamic finance industry in the UAE and the region, it garnered substantial interest from global investors, reinforcing the bank's dedication in addressing climate change by offering customers sustainable Islamic solutions. Lastly, the bank was lauded for its user-friendly and secure mobile banking platform and awarded the 'Best Innovation in Mobile Banking 2024'. Over the years, the bank's innovative approach has enhanced customer experience and set a new benchmark for mobile banking in the UAE. Farid AlMulla, Chief Executive Officer of Emirates Islamic, said: 'As a home-grown Islamic bank, we are honoured to be awarded these prestigious international accolades. A key component of our success has been providing a comprehensive Islamic banking proposition to all our customers, backed by seamless, customer-centric banking experiences that are both rewarding and memorable. We look forward to continuing our endeavor to provide customers with the best in Islamic banking in the region through innovative Shariah-compliant financial products and services.' Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said: 'We are proud and sincerely humbled to win major recognition at the World Finance Islamic Finance Awards 2024. Emirates Islamic has contributed significantly to raising the profile of Islamic banking in the UAE and a key component of our success over the last few years has been our pursuit of innovation. Over the years, we have played a key role in setting new benchmarks for the Islamic banking sector in the UAE, whether through the introduction of new products and services, digital initiatives or sustainability offerings.' The World Finance Islamic Finance Awards bring together key players in the Islamic finance industry and recognises the most successful operators from around the globe. The awards are held annually by World Finance, a leading financial magazine published by World News Media in the United Kingdom. The judging panel comprises senior financial and business journalists, supported by a research team as well as reader insight and experience to provide nominations to the judging panel.
