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...
While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...
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 what ways can the standardisation of Islamic finance boost its overall attractiveness?
Abu Dhabi is a prominent player in Islamic finance and is active in markets for sharia-compliant debt; deposit, lending and investment schemes; and risk-management through takaful (Islamic insurance). Acting through the Abu Dhabi Global Market (ADGM), the emirate’s financial free zone, the sector has access to domestic as well as...
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