Latest news with #MohamedAbdalla
Al Bawaba
a day ago
- Business
- Al Bawaba
Sharjah Islamic Bank Wins Sharjah Gulf Excellence Award 2024
Sharjah Islamic Bank (SIB) was awarded the Sharjah Excellence Award (SEA) in the 'Sharjah Gulf Excellence' category for its 2024 edition, organized by the Sharjah Chamber of Commerce and Industry. This recognition comes in appreciation of the SIB's significant initiatives and institutional achievements, which have played a key role in cementing its position as one of the leading banking institutions in the UAE and the region. This honor follows the recent inclusion of the bank in the "Top 100 Companies in the Middle East for 2024" list, according to Forbes magazine, a clear indication of its strong institutional performance and its sustainable and innovative business Investment in Vital Sectors Locally and Regionally, Enhancing National Economic Competitiveness, and Establishing Sharjah as a Leading Business and Innovation HubOn this occasion, HE Mohamed Abdalla, CEO of Sharjah Islamic Bank, said: "We draw inspiration for all our initiatives and strategic directions from the wise vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, may God protect him, which drives us toward excellence and leadership. At Sharjah Islamic Bank, we are committed to being an active part of the economic system by supporting investment in vital sectors locally, regionally, and globally, enhancing the competitiveness of the national economy, and reinforcing Sharjah's position as a leading center for business and innovation."He added: "We will continue to reinforce a culture of innovation and responsibility at SIB, moving forward with pioneering banking initiatives that have a real impact on society and the economy. This includes empowering entrepreneurs, supporting small and medium-sized enterprises, and expanding our regional partnerships to contribute to comprehensive and sustainable development. This aligns with our vision of providing a renewed banking model that supports national and Gulf aspirations." He also pointed out that this recognition reflects the trust institutions place in our message and the SIB's approach, which is based on sustainability through advanced financial solutions that meet the aspirations of various segments of society and align with the UAE's vision in the financial sector.A Financial Institution Committed to ExcellenceThis award represents a new milestone in the continued success of Sharjah Islamic Bank, reinforcing its status as a leading financial institution committed to excellence and contributing effectively to driving the economy forward according to the highest global standards. This recognition adds to the SIB's growing portfolio of awards and achievements at the local, regional, and international levels in various sectors, including institutional innovation, banking services, sustainability, and corporate social responsibility. It is worth noting that the " Sharjah Excellence Award" is one of the most prestigious institutional awards in the region. Launched in 1990 under the umbrella of the Sharjah Chamber of Commerce and Industry, the award aims to enhance competitiveness, foster a culture of quality and excellence, and encourage institutions to adopt best administrative and economic practices. This aligns perfectly with the approach adopted by SIB in all its operations and initiatives.
Sharjah 24
2 days ago
- Business
- Sharjah 24
SIB wins Sharjah Gulf Excellence Award 2024
This honour follows the recent inclusion of the bank in the "Top 100 Companies in the Middle East for 2024" list, according to Forbes magazine, a clear indication of its strong institutional performance and its sustainable and innovative business model. Supporting Investment in Vital Sectors Locally and Regionally, Enhancing National Economic Competitiveness, and Establishing Sharjah as a Leading Business and Innovation Hub On this occasion, His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, said: "We draw inspiration for all our initiatives and strategic directions from the wise vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, may God protect him, which drives us toward excellence and leadership. At Sharjah Islamic Bank, we are committed to being an active part of the economic system by supporting investment in vital sectors locally, regionally, and globally, enhancing the competitiveness of the national economy, and reinforcing Sharjah's position as a leading center for business and innovation." He added: "We will continue to reinforce a culture of innovation and responsibility at SIB, moving forward with pioneering banking initiatives that have a real impact on society and the economy. This includes empowering entrepreneurs, supporting small and medium-sized enterprises, and expanding our regional partnerships to contribute to comprehensive and sustainable development. This aligns with our vision of providing a renewed banking model that supports national and Gulf aspirations." He also pointed out that this recognition reflects the trust institutions place in our message and the SIB's approach, which is based on sustainability through advanced financial solutions that meet the aspirations of various segments of society and align with the UAE's vision in the financial sector. A Financial Institution Committed to Excellence This award represents a new milestone in the continued success of Sharjah Islamic Bank, reinforcing its status as a leading financial institution committed to excellence and contributing effectively to driving the economy forward according to the highest global standards. This recognition adds to the SIB's growing portfolio of awards and achievements at the local, regional, and international levels in various sectors, including institutional innovation, banking services, sustainability, and corporate social responsibility. It is worth noting that the " Sharjah Excellence Award" is one of the most prestigious institutional awards in the region. Launched in 1990 under the umbrella of the Sharjah Chamber of Commerce and Industry, the award aims to enhance competitiveness, foster a culture of quality and excellence, and encourage institutions to adopt best administrative and economic practices. This aligns perfectly with the approach adopted by SIB in all its operations and initiatives.
Al Bawaba
30-05-2025
- Business
- Al Bawaba
Sharjah Islamic Bank Strengthens Global Standing with Successful Pricing of USD 500 Million Perpetual Sukuk
In a move that reaffirms its strong appeal in regional and global capital markets, Sharjah Islamic Bank (SIB) has successfully priced USD 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125% and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented: 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.'The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added: 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.'This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a USD 500 million sukuk at a profit rate of 5.20%, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over USD 1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
Gulf Today
29-05-2025
- Business
- Gulf Today
Sharjah Islamic Bank strengthens global standing with successful pricing of $500 million perpetual sukuk
Sharjah Islamic Bank (SIB) has successfully priced US$ 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125 percent and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 bps. The issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment funds. This transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital base. Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented, 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.' The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor base. Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added, 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.' This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a US$500 million sukuk at a profit rate of 5.20 percent, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over US$1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and Asia. The joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability. WAM
Sharjah 24
29-05-2025
- Business
- Sharjah 24
SIB strengthens global standing, issues $500 M. Perpetual Sukuk
The issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment funds. This transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital base. His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented: This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.' The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor base. His Excellency Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added: 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.' This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a USD 500 million sukuk at a profit rate of 5.20%, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over USD 1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and Asia. The joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
