Latest news with #FinancialExcellence
Globe and Mail
3 days ago
- Business
- Globe and Mail
ShariaPortfolio Wealth Group Surpasses $2 Billion in Assets Under Management
LAKE MARY, Fla., Aug. 08, 2025 (GLOBE NEWSWIRE) -- The ShariaPortfolio Group of Companies (SP Wealth) is proud to celebrate a significant achievement in its pursuit of financial excellence: $2 billion in Assets Under Management (AUM) as of May 2, 2025. This milestone underscores the firm's commitment to delivering Sharia-compliant, ethically sound investment strategies that align with the financial goals and values of its diverse client base. A standout contributor to this success is SPUS, the group's flagship ETF, which alone has grown to over $1.2 billion in assets as of May 9, 2025, a remarkable achievement that demonstrates strong investor confidence in Sharia-compliant equity solutions. SPUS remains a cornerstone in the firm's ETF lineup and a benchmark for ethical investing. The SP Wealth Group of Companies, including SP Funds, continues to innovate within the Islamic finance space. Notably, the firm has introduced a suite of 11 innovative funds, including a unique series of (6) Target Date Funds (TDFs) that address the needs of long-term savers in vehicles like 401(k) and 529 plans. These TDFs stand out in the market for their faith-aligned design, offering a compelling alternative for retirement and education planning. 'With our 11 funds—especially the Target Date Funds—we are not only innovating but also filling a critical gap in the market,' said Naushad Virji, CEO of SP Funds. 'These are not just products; they are purpose-driven solutions that support the long-term goals of investors seeking Sharia-compliant options.' Within the broader funds category, SP Wealth has strategically developed five ETFs that span a wide range of asset classes. This comprehensive offering provides individual investors with a well-rounded toolkit—an arsenal of investment options—to build diversified, ethically grounded portfolios. 'Our milestone of surpassing $2 Billion in assets under management is a testament to the trust our clients have placed in us and the effectiveness of our Sharia-compliant investment strategies,' said Virji. 'This success is not only a reflection of our growth but also of our unwavering commitment to upholding the highest ethical standards in everything we do.' Since its inception in 2003, the SP Wealth Group of Companies has remained dedicated to providing financial solutions rooted in the principles of Halal Investing. The company's iconic shield logo symbolizes this mission—representing the protection of clients from excessive debt and non-compliant investments, while guiding them toward financial security and purpose-driven growth. 'Reaching $2 billion in assets under management marks a major milestone in our journey, but it's only the beginning,' Virji added. 'As we continue to grow, our focus remains on expanding access to responsible, Sharia-compliant investment solutions and delivering exceptional value to our clients worldwide.' For more information about the SP Wealth Group of Companies and its range of Sharia-compliant financial solutions, please visit About SP Wealth: The ShariaPortfolio Wealth Group of Companies is a leading financial services provider committed to offering comprehensive Sharia-compliant investment solutions and personalized financial advice to individuals, families, and institutions. With a focus on integrity, transparency, and excellence, the SP Group helps clients achieve their financial goals and build a secure future. The firm's signature shield logo reflects its dedication to protecting clients from investments with significant debt and those that do not align with their personal values. With over $2 billion in assets under management—including over $1.2 billion in SPUS—the SP Wealth Group remains a trusted partner in financial success.
Zawya
30-07-2025
- Business
- Zawya
South Africa: Empowering MSMEs, How financial excellence drives lasting economic transformation?
At Exxaro, a thriving Enterprise and Supplier Development (ESD) programme isn't just a corporate obligation—it's a powerful catalyst for economic enhancement. Fostering entrepreneurial talent and strengthening aspiring and existing suppliers through ESD, South African businesses can build resilient industries and even uplift the communities they serve. Exxaro Resources, a leading force in Micro, Small and Medium Enterprises (MSME) development, continues to reinforce its commitment to sustainable MSME development through its ongoing partnering with Saica Enterprise Development (Saica ED). At the heart of this collaboration is their Financial Excellence Programme, a transformative initiative designed to empower MSMEs with essential financial management skills. Beyond equipping entrepreneurs with the tools to navigate financial complexities, the financial excellence programme also enhances operational efficiency and cultivates long-term sustainability, which are key ingredients for thriving in today's competitive market. Tangible results: A proven track record The impact of the financial excellence programme speaks for itself, with the success of its previous three cohorts. Some of the key achievements from the 87 MSMEs that participated in the programme over the last three years include: - Over a 65% increase in turnover and a 55% rise in net profit across all businesses. - 102 new jobs created, further fuelling economic expansion. - 16 MSMEs secured new contracts, enhancing their business reach. - 17 MSMEs increased their market share, solidifying their presence in their respective industries. - 4 MSMEs obtained loan funding, providing additional resources for growth. These impressive milestones underscore the programme's far-reaching influence and undeniable success in empowering entrepreneurs and fostering financial sustainability. A programme that transforms businesses: Participants have shared enthusiastic testimonials about the programme's invaluable impact. 'The programme helped us introduce structured accounting systems, align our company with Sars regulations, and address VAT challenges. Our accountant was always available, ensuring our financial framework remained robust.' — Bonginkosi Clement Mashinini and Ntando Gratitude Mashele from Leaders in Business, a business that specialises in transportation of explosives, mining and drilling equipment. 'I've learned the importance of tracking performance, recording relevant data, and processing information for better decision-making.' — Molangoane Chuene Eric from Video production and photography. 'The program has taught me the importance of monitoring the company financial performance and to be always compliant.' Hendrick Seleka from Mahendy Trading Enterprise (PTY) LTD that specialises in supplying mine equipment and pest control services. The journey continues: Cohort 4 takes flight: With such proven success, Saica Enterprise Development is proud to announce the launch of Cohort 4 (Exxaro 4) of the Financial Excellence Programme to offer a group of entrepreneurs the opportunity to sharpen their financial acumen and build prosperous futures. As this long-term collaboration flourishes in 2025, Exxaro Resources and Saica ED remain dedicated to driving meaningful economic transformation, empowering MSME, and paving the way for sustained business success.
Zawya
29-07-2025
- Business
- Zawya
Moody's upgrades Bank Nizwa to investment grade (Baa3), reflecting robust financial strength and strategic growth
Muscat: In a significant development reflecting Bank Nizwa's – the leading and most trusted Islamic bank in the Sultanate of Oman – strategic and sustainable growth, Moody's Investors Service announced significant upgrades to its long-term foreign and local currency deposit ratings, which have been elevated to an investment grade Baa3 from Ba1 with stable outlook. Concurrently, the bank's Baseline Credit Assessment (BCA) and Adjusted BCA have also seen a robust improvement. These prestigious upgrades reflect Bank Nizwa's unwavering commitment to financial excellence and its strong positioning within the Sultanate's evolving economic landscape. The enhancements directly reflect the positive momentum driven by improved operating conditions, which are continually strengthening the bank's financial performance, including capital buffers. Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, commented, 'We extend our sincere gratitude to our shareholders, customers, and the official authorities – including the Central Bank of Oman (CBO), Ministry of Finance and Debt Management Office – for their continued support and unwavering commitment to financial discipline and strategic oversight. Their efforts have contributed to creating a conducive environment for the growth and prosperity of financial institutions in the Sultanate of Oman. This rating stands as a testament to Bank Nizwa's operational resilience and reflects the deep confidence placed in us by our shareholders, customers, and partners. It also aligns with the aspirations of Oman Vision 2040, which lays a strong foundation for diversified economic growth, robust fiscal sustainability, and an Islamic finance sector capable of contributing meaningfully to a progressive and resilient future.' He added, 'As the nation's first Islamic bank, we view this upgrade as a strong affirmation of the growing relevance of Sharia-compliant finance as a catalyst for national stability, financial inclusion, and enduring value creation. A rating action of this nature strengthens market sentiment, improves long-term credibility, and enables us to channel Islamic financial solutions toward effectively creating a tangible transformational impact.' The upgrades to Bank Nizwa's deposit ratings and Baseline Credit Assessment (BCA) reflect Moody's positive outlook on the bank's intrinsic financial strength, reaffirming its strong capital adequacy and ample liquidity. These upgrades also underscore the bank's continued ability to achieve its strategic objectives – including the expansion of its Islamic banking operations – while maintaining disciplined cost control and adhering to sustainable growth practices. Bank Nizwa's institutional strength is reflected in the growing confidence of its customers, as the bank continues to expand its services and enhance its offerings and products. Customer deposits remain a fundamental pillar of its funding structure, and the sustainable growth in the deposit base stands as clear indication of the trust placed in the bank by both individuals and businesses. This development also comes at a time when Oman is earning renewed global recognition for its economic reforms and fiscal discipline. Moody's recent upgrade of the Sultanate's sovereign rating to Baa3 underscores the government's efforts to foster stability, diversify the economy, and strengthen the financial sector. These national-level advancements further reinforce Bank Nizwa's ability to operate confidently and contribute meaningfully to the country's long-term goals. Bank Nizwa remains committed to fostering innovation in Sharia-compliant financial solutions and supporting Oman's broader development aspirations. With strong fundamentals and a future-focused strategy, the bank is poised to play a vital role in shaping the next phase of Islamic banking in the region.
Zawya
18-06-2025
- Business
- Zawya
QIB named Qatar's Best Islamic Bank & Best Digital Bank for SMEs by Euromoney
Doha, Qatar – Qatar Islamic Bank (QIB), Qatar's leading digital bank, has been named Qatar's Best Islamic Bank and Qatar's Best Digital Bank for SMEs at the Euromoney Awards for Excellence 2025, reaffirming its market leadership and dedication to delivering innovative, Shari'a compliant digital financial solutions. This recognition from Euromoney, one of the world's most respected financial publications, reflects QIB's exceptional performance, strong market position, and strategic focus on digital transformation within the framework of Islamic banking principles. QIB's sustained investment in technology and innovation, combined with its strong financial performance, has solidified its leader position. For the first quarter ended 31 March 2025, QIB reported a net profit of QAR 985 million, marking a 3.1% increase over the same period last year. The Bank's Total assets reached QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management and controls, with a non-performing financing assets ratio of 1.76% which is considered one of the lowest ratios in the banking sector, reflecting the quality of the bank's financing portfolio and effective risk management framework. The financing-to-deposit ratio reached 91.4%, reflecting the bank's strong liquidity position. The award for Best Digital Bank for SMEs highlights QIB's customer centric approach and commitment to enabling Qatar's small and medium-sized enterprises. Through a suite of tailored, Shari'a-compliant digital solutions—including digital onboarding, Corporate Internet Banking, the QIB Corporate App, and co-branded credit cards with Ooredoo—QIB has simplified business banking. The Bank also offers a comprehensive range of payment services such as POS terminals, Payment Gateway, and QIB SoftPOS App, empowering SMEs to manage finances, improve liquidity, and scale sustainably. On this occasion Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased to receive this recognition from Euromoney, which reflect our unwavering commitment to delivering innovative, Shari'a-compliant financial solutions and supporting Qatar's economic development. These accolades reaffirm QIB's leadership in Islamic banking and underscore the success of our digital transformation strategy. Our focus on empowering SMEs through tailored digital services is a key pillar in fostering sustainable growth and contributing to the country's diversification efforts.' The Euromoney Awards for Excellence were the first of their kind in the financial publishing industry. It remains one of the most prestigious and respected awards in global banking. The awards programme seeks to showcase financial institutions that deliver world-class services to their clients and which are successfully able to adapt to changing market conditions. For more details, please visit
Globe and Mail
27-05-2025
- Business
- Globe and Mail
Invoice Processing Automation Drives Utah Business Growth with IBN Technologies
"Invoice Processing Automation (USA)" Invoice Processing Automation is revolutionizing how Utah businesses manage vendor invoices and payments. By automating manual tasks, companies reduce errors, speed up approvals, and increase financial transparency. IBN Technologies provides customized automation solutions that streamline invoice capture, validation, and approval workflows—helping Utah firms achieve scalable, accurate, and efficient accounts payable processes. Miami, Florida - 27 May, 2025 - Increasing invoice volumes from various suppliers' challenge companies to synchronize billing and payment workflows efficiently. Organizations require flexible solutions that can maintain accuracy and speed amid growing demands. The rise of invoice processing automation provides a powerful means to address these financial complexities. Utah businesses are embracing Financial Excellence by integrating Intelligent Process Automation into their invoice management systems. These technologies automate critical steps in invoice review and authorization, enhancing clarity and consistency while enabling teams to handle increased workloads effectively. Manage Finances with Experts Automation and Connect Today! Get a free consultation: Manual Invoice Handling Issues In Utah, many businesses still face challenges stemming from manual invoice processing. Without automation, teams get bogged down in repetitive tasks that hinder efficiency and increase risks of error. The lack of process visibility makes approvals confusing and payments vulnerable to delays. Time-consuming manual data entry Mistakes like duplicated or lost invoices Delayed approvals impacting payment schedules Limited tracking of invoice progress Insufficient clarity on expenditures and cash flow Problems with audits caused by inconsistent records Different teams using varying procedures Difficulty scaling with rising invoice numbers Some Utah firms have overcome these obstacles by embracing automation. Solutions offered by companies like IBN Technologies help streamline invoice workflows, reduce inaccuracies, and bring better control to financial teams. Improved Accounts Payable Flows Finance teams in Utah are shifting toward digitized invoice handling to meet today's operational expectations. IBN Technologies offers invoice processing automation solutions designed to support consistency, speed, and visibility throughout accounts payable cycles. Media Contact Company Name: IBN Technologies LLC Contact Person: Pradip Email: Send Email Phone: +1-844-644-8440 Address: 66, West Flagler Street Suite 900 City: Miami State: Florida 33130 Country: United States Website:
