Category: Middle East/Asia

Charting the Future of Islamic Finance in Russia:CIBAFI and TIDA Host Strategic Session and Training Programme

Mr Mohammed

The General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with the Tatarstan Investment Development Agency (TIDA), successfully hosted a high-level strategic session titled “Prospects for Islamic Finance in the Russian Federation” in Kazan, Tatarstan. Dr. Belatik stated: “Islamic finance has strong growth potential, and collaboration between Russia and countries where it is well established can accelerate its development. It offers opportunities for economic growth by supporting real economic activities and promoting ethical finance. CIBAFI remains committed to this progress through advocacy, capacity building, and industry engagement. By strengthening human…

The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

Mr Mohammed

Djibouti City, Djibouti – 19 February 2025–The second edition of the Djibouti Forum, under the theme “Unlocking opportunities for regional and global growth”, will take place from the 6th to the 8th of April 2025. Organised by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this landmark gathering seeks to positively shape the African agenda while highlighting the Horn of Africa’s pivotal role as a catalyst for growth and development in the region. Positioned at the crossroads of Africa, the Middle East, and Asia, the eastern corridor of…

Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation

Mr Mohammed

PARIS, France, February 17, 2025/ — Africa’s energy sector is seeing growing interest from Islamic financial institutions, as demonstrated by the recent $400 million Murabaha financing secured by Africa Finance Corporation (AFC). This transaction not only underscores the growing role of Islamic finance in Africa’s infrastructure development, but also highlights significant opportunities for deeper financial cooperation between Arab and African nations in the energy sector. The strong demand for AFC’s facility, which attracted 11 Islamic financial institutions – including Abu Dhabi Islamic Bank, Al Rajhi Bank and Emirates Islamic Bank…

Africa: The Islamic Development Bank Institute (IsDBI) and Mohammed bin Salman (MBS) College Announce Strategic Partnership to Deliver Entrepreneurial Leadership Programs

Mr Mohammed

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) and Prince Mohammed bin Salman College of Business & Entrepreneurship (MBSC) have signed agreements to foster entrepreneurial skills and leadership excellence in IsDB Member Countries and Muslim Communities. This collaboration aims to launch two innovative programs: the Entrepreneurial Mindset Development Program and the Strategic Business Leadership Program. These programs integrate Islamic finance values and instruments to foster economic growth in Member Countries. The programs will be hosted by MBSC and delivered jointly by both institutions. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, and Dr.…

15th IRENA Assembly to Set Energy Transition Narrative for 2025

Mr Mohammed

Abu Dhabi, United Arab Emirates, 12 January 2025 – The 15th Session of the International Renewable Energy Agency (IRENA) Assembly convenes today, January 12, 2025, in Abu Dhabi, marking the first international energy meeting of the year. Under the theme ‘Accelerating the Renewable Energy Transition – The Way Forward,’ the two-day meetings will bring together ministers and high-level delegates from IRENA’s 170 Member States, academia, development banks, CEOs and youth to enhance wider, cross-sectoral collaboration on the energy transition. Key discussions will focus on tripling renewable energy capacity by 2030, enhancing ambition in Nationally Determined Contributions (NDC…

Dubai Property Market sets new benchmarks with Over 50,000 Sales Transactions

Mr Mohammed

Dubai, United Arab Emirates, 20 November 2024: The real estate market in Dubai continues to grow at an exponential rate, driven by increasing demand as an investment destination, relaxing land ownership regulations, the increasing inflow of expats to the Emirate and convenient payment plans offered by developers. Breaking records in standard Dubai style, sales of real estate in the third quarter of 2024 achieved an unmatched milestone, with a total value of almost AED 141.9 billion ($38.7 billion). This surpasses the previous record of AED 124.07 billion ($33.8 billion) set…

Africa Finance Corporation (AFC) Secures US$300 Million Loan, Expanding Investor Base with Indian Lenders

Mr Mohammed

DUBAI, United Arab Emirates, November 18, 2024/ — Africa Finance Corporation (AFC) the continent’s leading infrastructure solutions provider, has successfully closed a US$300 million India-focused syndicated loan, marking a significant milestone in its ongoing strategy to diversify its international investor base. The transaction introduced a new group of lenders from India, further expanding AFC’s global partnerships. This landmark transaction, commemorated in Dubai, underscores AFC’s robust standing as an investment-grade rated development financial institution with a unique ability to attract diverse global investors, furthering its pivotal mission to catalyse infrastructure development…

Dubai’s tourism triumph: Issam Kazim on the strategy driving Brand Dubai

Mr Mohammed

Dubai’s tourism sector has been on a remarkable trajectory, marking an 11 per cent increase in international overnight visitors in Q1 2024, with 5.18 million visitors gracing the emirate’s shores. This surge follows a record-breaking year in 2023, where Dubai welcomed an unprecedented 17.15 million international overnight visitors, firmly establishing itself as a global tourism powerhouse. Dubai’s success story isn’t just confined to numbers; it’s a testament to the city’s diversified approach, tailored strategies, and activities across more than 80 markets. This approach has maintained Dubai’s status as the destination…

UAE Society of Engineers Calls for Nominations in 3rd Excellence and Creative Engineering Award

Mr Mohammed

Dubai, UAE, 1 July 2024: The UAE Society of Engineers has announced the opening of nominations for participants in the third session of the Excellence and Creative Engineering Award 2024. The aim is to motivate engineers within the country to excel, create, and innovate by providing advanced engineering solutions. This initiative aims to foster a spirit of competition and leadership while promoting excellence in various fields of engineering, contributing to the prominence and prosperity of engineering work in the United Arab Emirates. In the previous session held in 2023, the…

Strait of Malacca becomes oil market’s largest transport artery

Mr Mohammed

The transit of oil and petroleum products through the Strait of Malacca, which is located between the Malay Peninsula and the Indonesian island of Sumatra and connects the Indian and Pacific oceans, rose by 800,000 barrels per day (bpd) in 2023, reaching 23.7 million bpd. According to the U.S. Energy Information Administration (EIA), the Strait of Malacca has surpassed the Strait of Hormuz in terms of transit volume of raw materials, as the amount of oil and petroleum products transported via the Strait of Hormuz last year totalled 20.9 million…