Islamic banking assets in Qatar valued at $97bn by end-2017: QFC Authority CEO

Islamic banking assets in Qatar were valued at $97bn by the end of 2017, which constituted nearly 81% of the total Islamic finance assets, said QFC Authority chief executive officer Yousuf Mohamed al-Jaida. In the past five years, the growth of Islamic banking industry assets in Qatar has outpaced that of the conventional banking industry, he said at an event here on Monday. Source: Islamic banking assets in Qatar valued at $97bn by end-2017: QFC Authority CEO

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UAE’s ADNOC seals $4bn pipeline infrastructure deal with KKR, BlackRock – Gulf Business

Abu Dhabi National Oil Company (ADNOC) has sealed a $4bn midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock, the government-owned company said on Sunday. ADNOC has been expanding through strategic partnerships since 2017. Last month it won a combined $5.8bn investment from Italy’s Eni and Austria’s OMV for a stake in its refining business to establish a new trading operation owned by the three partners. Source: UAE’s ADNOC seals $4bn pipeline infrastructure deal with KKR, BlackRock – Gulf Business

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Abu Dhabi banks ADCB, UNB and Al Hilal to merge creating UAE’s third largest lender – Gulf Business

UAE lenders Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have confirmed plans to merge and together acquire Al Hilal Bank to create the country’s third largest lender. The new banking group will carry the ADCB identity and will continue to have institutional backing from its biggest stakeholder – the Abu Dhabi government, a statement said. Source: Abu Dhabi banks ADCB, UNB and Al Hilal to merge creating UAE’s third largest lender – Gulf Business

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