Abu Dhabi's ADQ to become majority shareholder in Aramex
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
3 hours ago
- Khaleej Times
From niche to mainstream: Why Islamic finance is critical to the UAE's future development
Islamic finance is no longer a regional curiosity; it is becoming part of the structural foundation of global financial systems. Once confined to a handful of markets and perceived as serving a niche clientele, Islamic banking was often seen as parallel to, rather than integrated with, the global financial mainstream. This shift reflects a growing recognition of its ethical foundations, structural resilience, and alignment with evolving global economic priorities. Within the UAE, both Dubai and Abu Dhabi are increasingly recognised as critical global financial hubs. This has been driven in recent years by successful economic diversification underpinned by a fast-growing financial services sector and infrastructure aligned with international best practice. Islamic finance has an integral role to play in enabling cross-border market accessibility and diversifying domestic funding sources to support the next phase of financial services development in the UAE. Standard Chartered's latest report, Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts, reveals that global Islamic finance assets are on track to surpass $7.5 trillion by 2028, up from $5.5 trillion in 2024. This represents an impressive 36 per cent asset growth over the next four years. Rising financial volatility, growing calls for sustainability, and demand for inclusive, ethical finance have brought Islamic banking into sharper global focus. The UAE is at the forefront of this shift, publishing a set of Guiding Principles for sustainability in Islamic financial institutions in 2023 that encourage industry participants to integrate sustainability ambitions into their practices and processes. Recent progress has shown that these values are resonating more than ever with governments, corporates, and investors seeking resilient and inclusive financial frameworks in the UAE and across the MENA region. Islamic banking now accounts for over 70 per cent of total Islamic finance assets and is set to grow from $4 trillion in 2024 to $5.2 trillion by 2028. Meanwhile, the Sukuk market, a vital liquidity tool for governments and institutions, is projected to reach nearly $1.5 trillion. The UAE was one of several countries to make short-term treasury sukuks available in recent years, as they are considered among the most effective tools for fund raising in Islamic money markets. The overall growth in Islamic finance assets highlights shifting preferences, deeper institutional integration, and rising global demand for sustainable finance. This shift also reflects a broader change in mindset. Islamic finance is no longer seen as 'alternative finance,' but as strategic finance, a model that can integrate into the portfolios of global asset managers and the frameworks of sovereign wealth funds. Since the pandemic, the emergence of Islamic digital banks in countries including the UAE has been testament to this. At Standard Chartered, we view this moment as a call to action. As the only international bank with a global Islamic banking franchise, Standard Chartered Saadiq, we are uniquely positioned to partner with financial institutions, corporates, and clients across more than 25 markets, from the UAE to the UK and Africa. From helping institutions meet liquidity requirements to supporting green Sukuk issuances, we are enabling the next chapter of growth in Islamic finance. Yet, with opportunity comes responsibility. The next phase of growth in Islamic banking will depend on how well the industry addresses existing challenges. Regulatory harmonisation across jurisdictions, improved liquidity management mechanisms, and a renewed focus on product innovation are all essential. The journey of Islamic banking reflects growing prominence in the UAE, the broader MENA region and across international markets. As the world becomes more focused on resilience, sustainability, and inclusive prosperity, Islamic finance offers a model that speaks to both values and performance. The work ahead lies in deepening collaboration, improving consistency across markets, and continuing to innovate in ways that serve real economic needs. At Standard Chartered, we are committed to enabling that journey and see this as an opportunity and a responsibility to support our clients, strengthen communities, and help shape a more balanced and purpose-driven financial future for the UAE as an increasingly critical global financial hub serving international markets. The writer is CEO, Group Islamic Banking, Standard Chartered
Arabian Business
4 hours ago
- Arabian Business
Race for private markets firms to establish UAE office gets hotter
Private-markets firms continue to gravitate towards the United Arab Emirates (UAE). Bloomberg reported that companies managing over US$700 billion in assets are joining a number of others who have established new offices in either Abu Dhabi or Dubai. Sweden's EQT AB, France's Eurazeo and UK-based Pollen Street Capital are among those setting up in Abu Dhabi, according to a Bloomberg report after speaking to people familiar with the matter. Meanwhile, New York-headquartered Baron Capital Management, and Silver Point Capital Management, based in Greenwich, Charlotte, have recently established a presence in Dubai. The report said that these firms have been undeterred by the recent tensions in the region because of the Israel's operations in Gaza and then the Israel-Iran war. After years of tapping the Gulf mainly as a fundraising source, some of the biggest names in the business, Brookfield Asset Management and KKR & Company, have pivoted to deploying investment professionals on the ground and are actively seeking to invest capital in the region. The shift comes as high interest rates and sluggish deal pipelines in the US and Europe push managers to seek faster-growing markets – and to deepen relationships with Gulf sovereign funds and wealthy families, who have become critical limited partners, Bloomberg added. UAE emerges as private equity hub The growing presence of private equity firms in the UAE comes alongside a wave of expansion by hedge funds and other alternative asset managers. EQT is a purpose-driven global investment organisation focused on active ownership strategies. It has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. The company has EUR273 billion (US$322 billion) in total assets under management as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT, which has its headquarters in Stockholm, is planning to have investment professionals on the ground in Abu Dhabi and is planning to do deals in the region, the sources told Bloomberg. It may also open offices in other regional cities. Eurazeo plans to open an office in Abu Dhabi this year with new hires and staff relocations and is considering expanding into other regional markets. Bloomberg said the Paris-based asset manager is not just targeting the region for fundraising; it also intends to invest locally. The effort is being led by Adrien Pinelli, a managing director in the firm's investor relations team. Eurazeo has more than US$43.4 billion in assets under management with 13 offices worldwide. It has over 20 years of experience in managing dedicated funds, and provides institutional investors with tailored access to private markets via three investment strategies – commitments to primary funds, secondary transactions, and direct equity co-investments. Pollen Street Capital is also in the early stages of establishing a presence in the Middle East. The alternative asset manager, which oversees over $7 billion, recently registered in Abu Dhabi. Bloomberg reached out to representatives of the firms, but they declined to comment. Baron Capital, which has registered in Dubai, has nearly US$41 billion under management. Silver Point Capital has deployed close to US$155 billion in capital. Last month, Swiss-based Partners Group, one of the largest firms in the global private markets industry with around 1,800 professionals and over US$150 billion in assets under management, expanded its presence in the Middle East with the opening of a new regional headquarters in Abu Dhabi. It already had an office in Dubai since 2010.
Khaleej Times
5 hours ago
- Khaleej Times
UAE: Etihad Airways celebrates first flight to Atlanta
Etihad Airways has touched down in Atlanta for the first time, expanding its US footprint and connecting the cultural and commercial heart of the US Southeast with Abu Dhabi and beyond. The launch marks another milestone in Etihad's North American expansion. Etihad's first flight from Abu Dhabi's Zayed International Airport to Atlanta's Hartsfield-Jackson Atlanta International Airport touched down on July 2, making Atlanta the fifth US gateway in Etihad's global network, joining New York City, Chicago, Washington DC, and Boston. Guests travelling from Abu Dhabi benefit from the convenience of the United States Customs and Border Protection (CBP) Preclearance facility at Zayed International Airport — the only one of its kind in the region. This allows passengers to clear US immigration and customs before departure, arriving in the United States as domestic travellers and saving valuable time on arrival. The newly launched route meets the growing appetite for travel between the UAE and the US, catering to business travellers, vacationers, and those visiting friends and family. The Atlanta route launched with four flights per week, but record-high load factors and remarkable early bookings have prompted Etihad to fast-track expansion, with daily flights set to commence from November 2025. Demand from both leisure and corporate segments has exceeded expectations, firmly validating Atlanta's position as a key market for Etihad. Antonoaldo Neves, Chief Executive Officer at Etihad Airways, said, 'Atlanta is a dynamic city with deep cultural, economic and aviation significance. This new service enhances access to the southeastern United States while offering seamless connections across the Middle East, Indian Subcontinent, and Asia. 'With US Preclearance at Zayed International Airport, guests can enjoy the convenience of arriving in Atlanta as domestic travellers. We're delighted to bring our award-winning experience to guests travelling to and from Atlanta.
