Islamic Financial Services
From The Report: Abu Dhabi 2014
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Home to some of the UAE’s most prominent Islamic banks and takaful operators, Abu Dhabi has long been a regional centre for Islamic financial services. Global Islamic banking assets are forecast to surpass the $2trn mark by the end of 2014, and Abu Dhabi’s sharia-compliant financers are well positioned to capitalise on this expansion, although a competitive market and the lingering effects of the 2008-09 global economic crisis remain challenges. Potential for takaful growth in Abu Dhabi and the wider UAE is strong, underwritten by high levels of disposable income and the low insurance penetration.
This chapter contains an interview with Tirad M Mahmoud, CEO, Abu Dhabi Islamic Bank.

Articles from this Chapter

Overview

Success story: Opportunities are numerous both at home and abroad
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Home to some of the UAE’s most prominent Islamic banks and takaful (sharia-compliant insurance) operators, Abu Dhabi has long been a regional centre for Islamic financial services. Strong capital bases have raised the possibility of international expansion in recent years, while in the UAE Abu Dhabi-based institutions continue to develop market-defining products and services. A competitive market and the lingering effects of the 2008-09 global economic crisis remain as systemic challenges, but…

Interview

An attractive option: OBG talks to Tirad M Mahmoud, CEO, Abu Dhabi Islamic Bank
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Interview: Tirad Al-Mahmoud How has the government’s investment strategy, post-economic crisis, impacted the demand for sharia-compliant financial services? TIRAD AL-MAHMOUD: The characteristics of sharia-compliant services, grounded in limited risk and morality, have become more desirable for consumers in light of the recent global economic slowdown. Increased government investment has also stimulated personal and corporate lending. This has led to a growing demand for Islamic financial services…

Analysis

Looking abroad: The emirate’s Islamic lenders are well positioned to expand overseas
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Thanks to a competitive domestic banking market, the UAE’s relatively small population of around 9.2m and plentiful capital reserves, Abu Dhabi’s Islamic lenders are well positioned for international expansion. And in this regard, the two Abu Dhabi-based Islamic banks have already established a track record of success. ADIB The foreign expansion of Abu Dhabi Islamic Bank (ADIB) began in 2008 with the purchase of Egypt’s National Bank of Development, a commercial lender that brought ADIB 70…