CEO Tirad Al-Mahmoud discusses his vision of Abu Dhabi Islamic Bank as a top-tier transaction banking institution as the industry evolves and seeks new sources of growth.
February 11, 2016 | TABInsightsIslamic Banking continues to make significant strides in the Middle East and North Africa (MENA) region as it outpaces growth compared with its conventional counterparts especially in core markets such as the UAE. The Dubai Islamic Economy Development Centre (DIEDC) has projected that Shariah-compliant banking asset will reach $2.6 trillion by 2020 with a CAGR growth of 9.92% for the foreseeable future. This has implications for the UAE, which is the world’s third largest market in terms of Islamic Banking assets, and where 17% of the country’s total banking assets and 19% of total consumer deposits is considered to be Shariah-compliant.
The Abu Dhabi Islamic Bank (ADIB) has been a key driver of that penetration particularly in the Emirates as both lenders and borrowers shift towards what they consider to be a more ethical and participatory form of banking. While the success of Islamic banking can be credited as a shared endeavour by stakeholders across the wider Islamic world, Islamic banks such as ADIB continue to stand out in terms of revenue and customer acquisition.
Leadership in Transaction Banking
As the era of rapid growth for the industry comes to an end, Islamic banks and Shariah based lenders will seek to diversify their sources of funding while ensuring that asset quality is maintained. This has risen in importance given the intensification of competition in the marketplace and volatility in energy markets. Islamic Banks are hard pressed to evolve in building sustainable businesses, which can reach some acceptable level.
At the helm spearheading the transformation at ADIB is CEO Tirad Al-Mahmoud who has pioneered expanding the bank’s focus from its primary retail banking business to include transaction banking services. “We want to become a top-tier transaction and digital banking institution,” is how Tirad described his aspirations for ADIB as he seeks to ...
Categories:
Trade Finance, Transaction BankingKeywords:ADIB, OIC, MENA, DIEDC, Retail, Liquidity Solutions
CEO Tirad Al-Mahmoud discusses his vision of Abu Dhabi Islamic Bank as a top-tier transaction banking institution as the industry evolves and seeks new sources of growth.
February 11, 2016 | TABInsightsIslamic Banking continues to make significant strides in the Middle East and North Africa (MENA) region as it outpaces growth compared with its conventional counterparts especially in core markets such as the UAE. The Dubai Islamic Economy Development Centre (DIEDC) has projected that Shariah-compliant banking asset will reach $2.6 trillion by 2020 with a CAGR growth of 9.92% for the foreseeable future. This has implications for the UAE, which is the world’s third largest market in terms of Islamic Banking assets, and where 17% of the country’s total banking assets and 19% of total consumer deposits is considered to be Shariah-compliant.
The Abu Dhabi Islamic Bank (ADIB) has been a key driver of that penetration particularly in the Emirates as both lenders and borrowers shift towards what they consider to be a more ethical and participatory form of banking. While the success of Islamic banking can be credited as a shared endeavour by stakeholders across the wider Islamic world, Islamic banks such as ADIB continue to stand out in terms of revenue and customer acquisition.
Leadership in Transaction Banking
As the era of rapid growth for the industry comes to an end, Islamic banks and Shariah based lenders will seek to diversify their sources of funding while ensuring that asset quality is maintained. This has risen in importance given the intensification of competition in the marketplace and volatility in energy markets. Islamic Banks are hard pressed to evolve in building sustainable businesses, which can reach some acceptable level.
At the helm spearheading the transformation at ADIB is CEO Tirad Al-Mahmoud who has pioneered expanding the bank’s focus from its primary retail banking business to include transaction banking services. “We want to become a top-tier transaction and digital banking institution,” is how Tirad described his aspirations for ADIB as he seeks to ...
Categories:
Trade Finance, Transaction BankingKeywords:ADIB, OIC, MENA, DIEDC, Retail, Liquidity Solutions
