Latest news with #IslamicBanking
Zawya
17 hours ago
- Business
- Zawya
ADIB to hire 400 Emiratis in Al Ain by 2026 as part of National Talent Development Strategy
Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), has announced its plan to hire 400 UAE Nationals in the Al Ain region by the end of 2026, reaffirming its commitment to Emiratisation and the development of local talents across the UAE's banking sector. The announcement was made in line with its ongoing commitment to support the UAE Emiratisation agenda and enhance the participation of Emirati talents in the banking sector in line with the UAE's 'National Skills Development Strategy' and the 'Nafis Program. This initiative aims to create job opportunities for UAE nationals in various fields including Islamic retail banking, operations, as well as compliance and collection. This contributes to empowering national talents and enhancing the institutional presence of the bank in Al Ain city, considering it as one of the prominent cities in the UAE. As part of this initiative, ADIB organized a two-day 'open recruitment event' in Al Ain, in collaboration with Majalis Abu Dhabi, where they conducted on-the-spot interviews with prospective candidates, presenting a wide range of opportunities across key business areas. The event received significant interaction, reflecting Emirati youth's interest in joining the Islamic banking sector. Commenting on the announcement, Mohamed Abdelbary, ADIB's Group Chief Executive Officer at ADIB said: 'At ADIB, we believe in unlocking the potential Emirati talent, as attracting and empowering Emirati talent is a strategic priority. Our initiative in Al Ain is a strategic focus in this direction and reflects our commitment to effectively contributing to the country's comprehensive development and providing sustainable, impactful job opportunities for the national youth. Bushra Alshehhi, ADIB's Group Chief HR Officer added, 'We aspire through this initiative to build an integrated system for qualifying and developing national talents in Al Ain city, in collaboration with our partners from government entities, educational institutions, and Nafis. We will focus on creating a supportive work environment that encourages professional growth and innovation.' This initiative is within the bank's efforts to support the UAE's vision of increasing Emiratisation and enabling citizens to contribute to the economic and digital transformation journey, especially in vital and future sectors. ADIB reaffirms its commitment to preparing a new generation of Emirati leaders through advanced training and development programs that meet the requirements of the modern banking sector. These programs contribute to building a qualified national human resource base capable of leading the future. About ADIB ADIB is a leading bank in the UAE with AED 244 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products. For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes Head of Public Affairs Director of Financial Communications
Zawya
a day ago
- Business
- Zawya
QIB Named Islamic Bank of the Year in the Middle East by The Banker
Doha, Qatar: Qatar Islamic Bank (QIB), Qatar's leading digital bank, has been named Islamic Bank of the Year in the Middle East by The Banker (Financial Times Group) at The Islamic Banking Awards 2025. The recognition reflects QIB's leadership in Islamic finance, its continued investment in innovation, and its focus on delivering secure, Shari'a-compliant financial solutions across the region. The award comes as QIB continues to strengthen its position as one of the most efficient and digitally advanced Islamic banks in the region. In the first quarter of 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to 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, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the Bank's long-term deposit ratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the Bank's long-term rating at 'AA-' with a stable outlook. Over the past years, the Bank introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the QIB Mobile App, which is now offering over 300 features and a refined user experience. The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. With a focus on digital transformation, financial inclusion, and sustainable growth, the Bank continues to drive innovation, offer modern banking solutions, and support Qatar National Vision 2030 for a dynamic, diversified economy. Furthermore, QIB has been continuously outperforming the market and delivering continuous value to its shareholders. Commenting on the recognition, Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased to be named Islamic Bank of the Year in the Middle East by The Banker. On this occasion, I would like to extend my appreciation to QIB's Board of Directors, the entire QIB team and our customers for their trust and support. This award reflects the success of our strategy and our commitment to innovation. We continue to focus on delivering responsible, Shari'a-compliant financial services that create value for our customers, our shareholders and support Qatar's economic development.' The Banker Islamic Banking Awards are among the industry's most respected recognitions, celebrating institutions that deliver innovation, performance, and excellence in Shari'a-compliant financial services.
Trade Arabia
2 days ago
- Business
- Trade Arabia
Al Salam Bank announces sale of key stake in Seef Properties
Al Salam Bank, the largest Islamic bank in Bahrain, has announced the sale of its 15.6% shareholding in Seef Properties to GFH. The exit of Seef Properties forms part of a broader Group optimization strategy designed to expand and reinforce focus on core banking operations and the Group's strategic holdings in banking, takaful, and asset management. ASB Capital, the Group's asset management arm, was appointed by Al Salam Bank as sell-side advisor. Under this, ASB Capital's key role will be to assist in sourcing, structuring and executing the exit of its significant minority stake in Seef Properties. Launched earlier this year with a starting assets under management (AUM) of $4.5 billion, ASB Capital recently launched its investment banking offering covering advisory, transaction mandates, capital market solutions, and other bespoke offerings across various asset classes. On this transaction, Rafik Nayed, Group Chief Executive Officer of Al Salam Bank and Managing Director of ASB Capital, said: "This transaction represents our continued commitment to exit non-strategic holdings as part of a group-wide optimization initiative." "Aligned with our strategy, we are reallocating capital and focus towards growing core banking operations and expanding our strategic holdings in banking, takaful, and asset management- sectors that offer long term value and operational synergies within the context of the Group," he noted. Additionally, Nayed said: "ASB Capital's role in facilitating the transaction, despite global market volatility, underscores the strength of our expertise and execution capabilities in transaction advisory and capital markets."
Zawya
3 days ago
- Business
- Zawya
Bank Nizwa honored as Islamic Bank of the Year and Best Mid-size Bank at New Age Banking Summit
1 June, Muscat: Demonstrating its relentless pursuit of excellence, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, secured two prestigious accolades at the 10th Edition of the New Age Banking Summit – 'Best Islamic Digital Bank in Oman' and 'Best Bank – Mid-size Banks Category'. The distinguished event, themed 'Banking Beyond Boundaries: Redefining Innovation and Sustainability,' was held under the auspices of His Excellency Ahmed Al Musalmi, Governor, Central Bank of Oman. Drawing an elite assembly of senior banking executives, industry experts, influential policymakers, and fintech specialists, the summit provided an exclusive platform characterized by high-caliber discussions and premium networking opportunities. The awards were received by Mr. Mujahid Al Zadjali, GM - IT at Bank Nizwa on behalf of the bank. Mr. Mujahid Al Zadjali, engaged in an insightful panel discussion titled 'The Future of Banking: Navigating Disruption, Sustainability & Customer-Centric Innovation' that explored strategic avenues around fintech integration, digital transformation, open banking frameworks, advanced payment solutions enabling real-time, cross-border, multi-currency transactions, and the deployment of advanced technologies such as blockchain and AI. Highlighting the significance of the bank's participation and achievements, Mr. Mujahid Al Zadjali, remarked, 'Consistent participation in esteemed thought leadership forums such as the New Age Banking Summit reflects Bank Nizwa's enduring commitment to shaping the future of banking through purposeful dialogue and forward-looking insight. By contributing to high-level panel discussions, the bank continues to play a vital role in driving conversations that matter—those that define progress, resilience, and a future-ready financial ecosystem in Oman. The prestigious awards, meanwhile, serve as a powerful affirmation of our strategic clarity and the trust and credibility we have built over the years.' As the largest conference of its kind for the banking and non-banking financial sector in Oman, the event brought together technology companies—underscoring its significance, influence, and scale. Within this dynamic setting, Bank Nizwa underscored its strategic commitment to harnessing innovation as a catalyst for elevating customer experience and operational efficiency. The bank advocates for aligning technological advancements with sustainable and customer-centric banking practices, viewing digital transformation as integral to its strategic growth. Moreover, the bank stressed the importance of collaborative ecosystems, advocating closer partnerships among financial institutions, regulators, and technology providers. The recognition received at the New Age Banking Summit further cements Bank Nizwa's status as a leading force within Oman's Islamic banking sector. These awards not only underscore the bank's strategic prowess and agility but also reinforce its dedication to driving meaningful innovation and fostering a resilient, sustainable financial landscape in the Sultanate.
Arabian Business
6 days ago
- Business
- Arabian Business
Al Salam Bank exits its 15.6% shareholding in Seef Properties
Al Salam Bank, the largest Islamic bank in Bahrain, said it has sold its 15.6 per cent stake in Seef Properties to GFH Financial Group, another Bahrain-based company. In a filing with Dubai Financial Market (DFM), where it is listed, Al Salam Bank said the exit forms 'part of a broader group optimisation strategy designed to expand and reinforce focus on core banking operations and its holdings in banking, takaful, and asset management'. Launched earlier this year with a starting AUM (assets under management) of US$4.5 billion, ASB Capital, the group's asset management arm, was appointed as sell-side advisor and mandated to assist in sourcing, structuring, and executing the exit of its significant minority stake in Seef Properties. Rafik Nayed, Group Chief Executive Officer of Al Salam Bank and Managing Director of ASB Capital, commented: 'This transaction represents our continued commitment to exit non-strategic holdings as part of a group-wide optimisation initiative. Aligned with our strategy, we are reallocating capital and focussing towards growing core banking operations and expanding our strategic holdings in banking, takaful, and asset management – sectors that offer long-term value and operational synergies within the context of the group. 'ASB Capital's role in facilitating the transaction underscores the strength of our expertise and execution capabilities in transaction advisory and capital markets. Backed by a strong pipeline from both local and regional institutional clients spanning private equity, syndications, capital instruments, and advisory services, ASB Capital is well-positioned to build on the growing momentum in regional deal activity.'
