IslamicFinance.de

Fitch Ratings claims that after Abu Dhabi Islamic Bank's (ADIB) hybrid Tier 1 Sukuk further UAE banks are likely to follow their example and issue Basel III-compliant bonds. Both conventional and Shari’ah-compliant banks are expected to issue Tier 1 products in the coming year. Fitch also noted that relatively high levels of capital are a necessity for banks in the Gulf region in order to deal with the difficulties in the operating environment. Moreover, hybrid Tier 1 instruments are believed to be a cost-effective means of accessing a wider investor base.

This week, Abu Dhabi Islamic Bank (ADIB) plans to issue a hybrid sukuk. However, it is likely that investors will demand a big premium for the rare structure. According to expectations, the bank will raise minium $500m to shore up its core capital, complying thus with tighter Basel III global standards. This is a prerequisite for the Tier 1 capital which will be introduced in the UAE in the years to come. ADIB’s Tier 1 sukuk structure is different from the usual instruments to raise Tier 2 capital sold by different Gulf lenders. Firstly, there is no maturity date. Also, the principal is repaid at the discretion of the issuer.

Abu Dhabi Islamic Bank (ADIB) has managed to bring up Islamic finance as an ethical and sustainable business model in the global financial scene. In a TV series launched by Bloomberg TV and sponsored by ADIB, CEO of ADIB Tirad Al Mahmoud explained his view of Shari'a-compliant banking being a viable, resilient and ethical business model. Especially because of the global financial crisis, the demand for ethical banking all around the world has been extremely high.

Read more on: http://www.ameinfo.com/adib-islamic-finance-global-ethical-business-316817

Abu Dhabi Islamic Bank (ADIB) announced their expansion to Iraq yesterday. By opening a branch in Iraq, the bank becomes the first financial institution in the UAE which launches operations there with license from the Iraqi Central Bank. The branch of ADIB will be situated in Baghdad and will be managed by Jawdat Mahmoud Jawdat. ADIB aims to develop the Islamic finance industry in Iraq using best in class Islamic banking products.

Renewable energy such as hydropower, solar and wind energy is becoming focus of some Islamic banks. Especially solar power projects attract major investment in the Middle East and North Africa (MENA). Among the projects are Abu Dhabi’s Masdar City and the German-led Desertec Industrial Initiative (DII). It is expected that energy export thrughout the MENA region and into Europe will become possible.

The National Bank for Development (NBD) together with Abu Dhabi Islamic Bank (ADIB) revealed its 2011 financial results, which showed positive indicators despite the circumstances the Egyptian economy faced during the past year.
Nevine Loutfy, Managing Director and CEO of NBD, stated that NBD's achievements during 2011 confirmed the strong and superior performance of the bank's employees, which was shown in the significant growth in both assets and liabilities, in addition to increasing the bank's market share and reducing the provisions gap.

It seems that Abu Dhabi Islamic Bank (Adib) rose the most in three months, as the country's second-biggest Sharia-compliant lender continued with its roadshow to sell a $500 million five-year sukuk.
The sale will be oragnized by Citigroup, HSBC Holdings, Standard Chartered, Nomura and National Bank of Abu Dhabi.

Abu Dhabi Islamic Bank (ADIB) will hold investor meetings for a potential dollar-denominated Islamic bond, or Sukuk.
Meetings will begin in Kuala Lumpur on Nov. 17, and will cover Singapore and the United Arab Emirates (UAE), before ending in London on Nov. 21.

Three banks from UAE are among 10 largest Arab Islamic banks.
Saudi Arabia’s Al-Rajhi group remained at the same position as the world’s largest Islamic bank at the end of 2010 while four in the UAE were among the 10 top Shariah-compliant banks.
The Kuwait Finance House (KFH) was second by assets, which stood at $43.7 billion at the end of 2010 compared with $39 billion at the end of 2009.
Dubai Islamic Bank (DIB) was ranked third, with assets of about $24.5 billion, followed by Abu Dhabi Islamic Bank (ADIB), with around $20.5 billion.

Abu Dhabi Islamic Bank (ADIB) now provides a cancer cover Takaful to all its “Dana Women’s Banking” customers. This can happen through an underwriting process without the need for medical examinations. The scheme can be renewed upon the breach of a policy year.

It seems that Islamic banking has increased UAE bourses of nearly 29.3 % in their net income in the first half of 2011 while their total assets and deposits also recorded growth.
The five listed Shariah-compliant banks that were included in the report are: The Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank (DIB), Emirates Islamic Bank (EIB), Sharjah Islamic Bank (SIB) and Ajman Bank. The report was published in the semi official daily 'Al Ittihad' and prooves the fact that the banks had strong results in the second quarter of 2011.

It seems that Abu Dhabi Islamic Bank (ADIB) has arranged successful Suhoor for ultra high net worth ladies of Al Ain. Holy Quran launched the event with a recitation, followed by Dr. Mohamed Sultan Al Ulama, Dean, UAEU Libraries, speaking about the importance of safeguarding family wealth and appreciated ADIB’s achievements.
At the end of the event, each guest received a token of appreciation from ADIB.

Egypt’s National Bank for Development (NDB) together with Abu Dhabi Islamic Bank (ADIB) launched a new Sharia-compliant service that can help customers finance their education or travels with up to LE 150,000 and LE 200,000, respectively.
The service permits the bank to lease to a customer a specific service to “exist in the future,” like education or travel, for a certain period of time with a set number of regular installments.

Abu Dhabi Islamic Bank (ADIB) launched of its Gold Priority Banking service that is designed to meet the needs of affluent customers.
Gold Priority Banking has been designed to deliver an exclusive and rewarding banking experience with a wide range of premium products, services and lifestyle benefits. ADIB Gold Priority Banking is accompanied by a valuable package of benefits developed exclusively for affluent customers.

Abu Dhabi Islamic Bank (ADIB) had arranged a syndicated Dh1.14 billion Islamic financing deal for the Majid Al Futtaim (MAF) Group.
ADIB acted as the initial mandated lead arranger, sole bookrunner, investment bank and security agent bank for the deal. Other banks that participated in the financing deal include Al Khaliji Commercial Bank as mandated lead arranger, Al Hilal Bank, First Gulf Bank and United Arab Bank as lead arrangers and Ajman Bank as arranger.