37,356 issued, renewed licenses in Sharjah during H1 2025
The data revealed the most significant developments and events witnessed by the economic sectors in Sharjah, as well as the measures and efforts undertaken by the Department across all sectors and activities. This release aimed at providing a comprehensive tool for stakeholders in the emirate's economic sectors and inform them of the most significant results achieved. Such thing confirms SEDD's efforts to achieve balanced and sustainable economic performance and enhance business continuity across various sectors.
Thereof, the number of issued licenses during the first half of 2025 reached 4,359, with a 16% increase. On the other hand, the number of renewed licenses hit 32,997, a 7% increase over the same period last year.
When analyzing the issued and renewed licenses in Sharjah during the first half of 2025 by type, it was clearly displayed that the commercial licenses took the first rank in the number of licenses issued and renewed in the emirate with a total of 23,945 licenses and a growth rate of 7% compared to the first half of last year. Then, it was followed by professional licenses with a total of 10,693 licenses with an increase of about 7%. On the other hand, the industrial licenses hit 1,924 ones, with a growth rate of 14%, while Eitimad licenses came in fourth with 522 licenses, and with a growth of 41%. Later on, the e-commerce licenses reached 272 ones, with a growth rate of 23% compared to the first half of last year.
Furthermore, SEDD conducted 78,887 inspection campaigns on various economic establishments in the emirate during the first half of 2025. Also, the Department has dealt with many different cases of commercial protection complaints during the past period, each of which was fully resolved in cooperation with all concerned parties. Thus, the total number of commercial protection complaints reached 7,685, including 6,677 consumer protection complaints, 652 commercial fraud complaints, and 356 service agent complaints. The satisfaction rate with the department's consumer protection services for the first half of this year reached 78%.
Regarding the data on the scales calibrated by type during the first half this year, the total number of "commercial and gold" scales reached 1,950, representing a growth rate of 56% compared to the same period last year.
Commenting on that, Hamad Ali Abdalla Al Mahmoud, SEDD Chairman, stated that the economic sectors in Sharjah are built on solid foundations of diversifying sources of income, focusing on developing key sectors, supporting and stimulating future economic activities, and developing and modernizing flexible legal frameworks that support businesses. This is done in cooperation with concerned partners from all sectors, to make the emirate a leading investment destination in the region.
On the other hand, Fahad Ahmed Al Khamiri, SEDD Director, pointed out that the data of 2025 first half confirm the strength of the emirate's economy, the attractiveness of its investment environment, and the confidence of business sectors in the investment opportunities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Emirates 24/7
17 minutes ago
- Emirates 24/7
Emirates Islamic delivers a record AED 2.2 billion profit before tax in the first half of 2025, driven by strong income and deposit growth
Emirates Islamic delivered a record AED 2.2 billion profit before tax in the first half of 2025, reflecting strong growth momentum. Total income rose 9% year-on-year to AED 2.9 billion, driven by continued expansion in both funded and non-funded income streams. Customer financing grew 13% to AED 80 billion, while customer deposits showed exceptional growth, rising 27% to AED 97.4 billion. Current and Savings Account balances now represent 65.5% of total deposits. These results highlight Emirates Islamic's position as one of the UAE's leading Islamic banks. Key Highlights – First Half 2025 - Strong operating performance on higher funded income and non-funded income • Total income up 9% y-o-y driven by higher funded and non-funded income • Expenses increased 15% y-o-y reflecting continued investments to drive growth • Impairment allowances credit at AED 136 million • Operating profit improved 6% y-o-y • Net profit increased to AED 1.863 billion, up by 12% • Net profit margin healthy at 3.74% - Strong capital and liquidity combined with a healthy deposit mix empowering the Bank to provide improved products to customers • Total assets increased by 24% to AED 138 billion during first half of 2025 • Customer financing at AED 80 billion, increased 13% during first half of 2025 • Customer deposits at AED 97.4 billion, increased 27% during first half of 2025 with Current and Saving Account balances at 65.5% of deposits • Credit Quality: Non-performing financing ratio at 2.8% with strong coverage ratio at 159.9% • Capital: Common Equity Tier 1 ratio at 17.4% and Capital adequacy ratio at 18.5% reflect the bank's strong and stable capital position • Headline Financing to Deposit ratio at 82% comfortably within the management's target range Hesham Abdulla Al Qassim, Chairman, Emirates Islamic said: • Emirates Islamic has reported a record profit before tax of AED 2.2 billion for the first half of 2025, increasing 19% year-on-year. The net profit margin stands healthy at 3.74%, while operating profit improved by 6% year-on-year. • Emirates Islamic continues to deliver strong results and accomplish its key objectives with an increasing focus on technology, new services and sustainability. We remain committed to strengthening our digital offerings to our individual, SME and corporate customers by consistently making strategic investments in technological solutions. • With the UAE's economy continuing to be buoyant, Emirates Islamic is proud to play an integral part in the nation's growth story. The bank successfully issued a USD 750 million Senior Unsecured Sukuk in the first half of 2025, received positively by the regional and global investor community. This milestone emphasises the increasing recognition of Emirates Islamic among the global investor community as Islamic banking continues to see strong growth globally while delivering increasingly sophisticated products. Emirates Islamic is committed to ensuring the proceeds are used to help in the growth of the UAE economy. • We recently partnered with Leonteq Securities AG to expand the bank's Shariah-compliant Wealth Management offerings and signed an agreement with DURAR OCTA to facilitate financial management for an upcoming luxury real estate project in Ras Al Khaimah. • The bank has received due recognition for its performance and leadership in the Islamic banking sector by winning a number of prestigious global awards in the first half of 2025. At the Euromoney Islamic Finance Awards, the bank won the award for 'The World's Best Islamic Digital Bank' and seven other awards while at the Global Finance - Best Islamic Financial Institutions Awards the bank won the awards for 'Best Islamic Corporate Bank in the World' and 'Best Islamic Financial Institution in the UAE'. • As a bank deeply rooted in the UAE, we are committed to the ongoing career growth of UAE Nationals at Emirates Islamic. With an Emiratisation rate of 42.3%, we continue with our efforts to attract and develop Emirati talent to become the future leaders of the country.' Farid AlMulla, Chief Executive Officer, Emirates Islamic said: • Emirates Islamic's growth momentum continued in the first half of 2025, with total income at AED 2.9 billion, increasing by 9% year-on-year driven by higher funded and non-funded income. • Total assets increased significantly by 24% to AED 138 billion during first half of 2025, while Customer Financing increased by 13% to AED 80 billion. Customer Deposits have shown remarkable growth, rising by 27% to AED 97.4 billion with Current and Saving Account balances at 65.5% of deposits. • During the first six months of the year, the bank reinforced its ongoing commitment to community empowerment and financial inclusion through Islamic Banking by introducing the ALPHA Youth Account. The solution encourages parents to empower their children with essential financial literacy skills and introduce them to financial independence at an early age. • Emirates Islamic strengthened its dedication to banking excellence and empowering SMEs, while contributing to the UAE's thriving business ecosystem, by launching the Business Banking Diamond Account, crafted for high-value SMEs. • We continue to secure strategic partnerships that drive digital innovation to enhance customer experiences. Emirates Islamic recently partnered with the Sharjah Real Estate Registration Department to enhance the efficiency of real estate registration and financing procedures. • Emirates Islamic recognises its workforce as a foundational pillar of success. The bank launched several specific initiatives for employees including the 'Let's Create Bankers Initiative' which supports learning, development, and growth of selected Emarati talent across the business; and the 'EI Ambassadors Programme' that focuses on collaboration between the bank and external partners for sustainability activities.'
Fintech News ME
an hour ago
- Fintech News ME
United Arab Bank Partners with Lune for Data-Driven Mobile Banking
United Arab Bank (UAB) has entered into a partnership with Lune, a UAE-based fintech company specialising in AI-driven transaction enrichment and financial data analytics. The collaboration aims to support UAB's upcoming mobile banking platform by enabling data-driven and personalised customer experiences. Through Lune's technology, UAB will convert raw transaction data into clearer financial insights via a simplified interface. The solution is intended to enhance transparency and support customers in making informed financial decisions. Features will include personalised recommendations, contextual offers, and financial planning tools delivered through conversational interfaces. Commenting on the partnership, , Head of Retail Banking at UAB, said: 'While the underlying technologies have existed for some time, we at UAB were not entirely convinced about the maturity of the outcomes, until now. Partnering with Lune, a homegrown fintech with deep expertise in the UAE's payment ecosystem and cutting-edge technologies, gives us confidence in delivering the enriched digital experience our customers expect.' Helal Tariq Lootah, Co-Founder and Co-CEO of Lune, added: 'We're delighted to be working with United Arab Bank. This collaboration reflects our shared commitment to innovation, customer empowerment, and building a stronger, data-driven financial future.' The partnership aligns with UAB's broader digital transformation agenda and its continued efforts to work with fintechs to improve banking services.
Zawya
an hour ago
- Zawya
Foreign portfolio investors return as Egypt's financial health improves
Despite receiving a reprimand from the IMF over delays in its privatisation programme, Egypt continues to draw strong interest from foreign portfolio investors. This is reflected in the $15 billion of inflows into local debt markets—particularly EGP-denominated treasury bills and bonds—since the flotation of the Egyptian pound in March 2024. These instruments offer high yields and are relatively insulated from foreign exchange risk. Investor sentiment toward Egypt has remained broadly positive in recent months, supported by a stronger foreign reserves position, the UAE's $35 billion investment in Ras El-Hekma, and progress on the IMF-backed reforms. Within the broader emerging markets (EM) allocation context, Egypt stands out as a relatively favourable trade. This is partly due to domestic developments but also reflects global macro trends. Two key shifts have worked in Egypt's favour since the onset of tariff tensions earlier this year: -A weaker US dollar, which typically boosts capital flows into EMs. -Lower oil prices, which benefit Egypt as a net energy importer. 'We maintain a positive fundamental credit view on Egypt,' said Fady Gendy, Portfolio Manager at Arqaam Capital. 'The country enjoys strong backing from bilateral partners, and there are potential new deals in the pipeline. For instance, Qatar and Kuwait may convert their central bank deposits into direct investments, alongside fresh inflows.' Investor confidence has also been buoyed by the IMF's fifth and sixth combined review of Egypt's support programme, as well as support from the EU and World Bank. However, the pace of privatisation of state assets remains a key concern, as it is central to the IMF program and critical for fiscal consolidation. On the hard currency side, Egypt's eurobonds have rallied significantly since the April 2 sell-off—triggered by US tariff reforms and the brief Israel-Iran conflict. 'Following the rally, yields have dropped, and Egypt now appears expensive—both historically and relative to similarly rated EM peers like Bahrain, Jordan, and some African sovereigns. We're waiting for more attractive entry points,' Gendy added. Dual strategy Meanwhile, foreign investors remain active in the local currency market, particularly in short-term EGP-denominated instruments, which offer net yields above 20%. These instruments are attractive due to their short duration and limited interest rate sensitivity. 'We view these as high-yielding, short-term carry trades. Entering now—before the Central Bank of Egypt (CBE) resumes its rate-cutting cycle—offers the potential to lock in gains, especially by extending into longer-dated bonds,' Gendy said. The CBE, which cut overnight interest rates in April and May for the first time in over five years, has since paused. However, markets anticipate up to 300 basis points (bps) of rate cuts in the second half of the year. As a result, foreign investors are pursuing a dual strategy: investing in short-term treasury bills (3, 6, and 12 months) to capture current high yields of 20–22%, while also positioning in 3- and 5-year bonds to benefit from potential price appreciation as rates decline. Mohamed Abu Basha, Head of Macroeconomic Analysis, at EFG Hermes, noted that while there were significant outflows during the Israel-Iran tensions, these have been fully reversed and that market has actually seen net inflows since the ceasefire was reached. 'With the Finance Ministry increasing its issuances, and the CBE slowing its pace of easing, yields have edged up slightly—by 40bps on average for short-end of the curve and 14bps for the longer end. When foreign participation in auctions dips, local investors typically tend to push for higher returns,' Abu Basha told Zawya. Foreign investors currently hold an estimated 25–30% of Egypt's local currency debt, according to Abu Basha. Looking ahead, tangible progress on privatization will be crucial—especially as Egypt aims to become a regular issuer in international markets, targeting $3–4 billion in annual issuance. 'While the lack of progress may not immediately impact the debt market, it's a key risk we're monitoring. Delays in asset sales could trigger a domino effect,' Gendy warned. 'Foreign investors have continued to add to their positions, and the EGP has appreciated. That seems to reflect confidence in Egypt's reserve position, especially after last year's Ras El Hekma deal as well as more recent improvement in the current account balance,' Basha said. Egypt plans to raise EGP 3.2 trillion ($65 billion) in the domestic debt market in FY 2025/26, up from EGP 2.7 trillion in the previous fiscal year, as the government seeks to refinance maturing debt and plug its fiscal deficit. (Reporting by Brinda Darasha; editing by Seban Scaria)
