Abu Dhabi ended its six-year initial public offering (IPO) drought in December 2017 with the sale of a 10% stake in the downstream distribution arm of the government-owned Abu Dhabi National Oil Company (ADNOC). The sale of the stake in ADNOC Distribution was the largest IPO in a decade on the Abu Dhabi Securities Exchange (ADX) and gave the...
Banks in Abu Dhabi are well funded and have demonstrated resilience, be that during the global financial crisis of 2007-08 or in response to local challenges since oil prices fell in 2014. They also exist in a very competitive environment that is widely seen as overbanked. After a major merger created the region’s second-largest lender in 2017...
As a religion, Islam has no central authority, and Muslims have established multiple schools of thought. Islamic finance reflects this decentralised approach, as in the past it has been largely up to each individual financial institution to design products and services they believe are sharia compliant.
In April 2018 Sultan Al Jaber, UAE Minister of State and group CEO of Abu Dhabi National Oil Company (ADNOC), announced the launch of Abu Dhabi’s first competitive tender for partners to participate in the exploration and development of oil and gas.
In what ways can the standardisation of Islamic finance boost its overall attractiveness?
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