Consider Investing in Dubai
By Saghir Aslam
Rawalpindi, Pakistan

(The following information is provided solely to educate the Muslim community about investing and financial planning. It is hoped that the Ummah will benefit from this effort through greater financial empowerment, enabling the community to live in security and dignity and fulfill their religious and moral obligations towards charitable activities)
Remember the Golden rules of investing you must do your own research. Do your homework thoroughly and completely for investing.
Emirates Islamic profit up at Dh387M:
Emirates Islamic announced strong results for the first half of 2017, declaring a net profit of Dh387 million for the same period last year on the back of an improved overall performance and increased customer deposits. The bank’s total assets rose two percent to Dh60.5 billion. Results underlined Emirates Islamic’s role as a key driver in the growth of Islamic banking in the UAE.” We have consistently investing in innovation and infrastructure, the results of which are now evident in our positive numbers. Shariah compliant banking continues to set new milestone in the overall banking sector, and Emirates Islamic aims to contribute substantially to the sector’s growth and the government’s goal of making Dubai the global capital of Islamic economy’’,
Dubai Islamic Bank’s H1 profit rises 7% to Dh2.14B;
DUBAI-Dubai Islamic Bank (DIB) on Wednesday said its net profit in the first-half of 2017 increased seven percent to Dh2.14 billion from Dh2 billion in the same period last year on the back of higher income. Total income increased to Dh4.86 billion, an increase of 15 percent compared to Dh4.23 billion for the same period in 2016.Net operating revenues increased to Dh3.67 billion, up 10 percent compared with Dh 3.35 billion for the same period in 2016. Net financing assets rose to Dh125.4 billion, up by nine percent as against Dh114.9 billion at the end of 2016.Sukuk investments increased to Dh26.4 billion, a growth of 13 percent, compared to Dh23.4 billion at the end of 2016.Total assets stood at Dh193.1 billion, an increase of 10 percent, compared to Dh174.9 billion at the end of 2016.Customerdeposits stood at Dh141.4 billion compared to Dh122.3 billion at the end of 2016,up by 16 percent. Capital adequacy ratio remained strong, standing at 16.6 percent as against 12 percent minimum required. Shariah Complaint Bank continues to show remarkable progress with total income now reaching nearly Dh5 billion. ’’Our international expansion is on track as the bank officially received its license in April from the Central Bank of Kenya to start our operations. This paves the way for the bank’s aspiration in Africa and proliferation of Islamic finance across Asia, Middle East and the East African Belt, “AL Shaibani continues to demonstrate robust earnings in the back of strong and unyielding focus on key economic growth sectors in the markets and jurisdictions we operate. The nine percent growth in financing assets supported by the 16 percent rise in customer deposits clearly show cases the franchise’s incredible ability to continue to generate liquidity at will while simultaneously deploying the same in quality earning assets. With liquidity pressure easing this year along with hikes in fed rates, we expect relative improvement in margins as a significant portion of our financing book will have a favourable impact due to its variable pricing nature’’. Listed at the Dubai Financial Market, the Shariah lender’s share price was unchanged at Dh5.85 at around 2.32pm.
Emirates NBD posts record profit for H1
Emirates NBD posted on Wednesday record half t profits of 3.9 billion, up five percent on higher net interest income, lower expenses and lower provisions. The Dubai based lender said interest income improved two percent year on year due to loan growth and helped by a recent improvement in margins.Net interest margins improved since the beginning of the year as loans as reset at higher rates and funding costs improved as liquidity conditions eased. The operating performance was also supported by a control on expenses and lower provisions total assets rose two percent to Dh456.2 billion from end of 2016. Customer loans rose five percent to Dh304.0 billion and customer deposits increased by three percent to Dh319.9 billion. Impaired loan ratio improved to 6.1 percent while the impaired loan coverage ratio strengthened to 18.3 percent and capital adequacy ratio advanced to 20.7 percent with retrained earnings. Emirates NBD, the lender achieved its highest ever net profit in the first half of 2017.Throughout 2017,we aim to embrace and adopt the year of giving by ensuring that all activities in our CSR calendar are designed to make a difference to individual, society and nation as a whole” Emirates NBD has delivered a record set of half year results. During 2017 we have seen margins widen 29 bps as recent rates rises flowed through to loan pricing and funding costs improved as regional liquidity conditons eased. The Group’s balance sheet continued to strengthen with improved capital and credit quality ratios and liquidity ratios were comfortably maintained within management’s target range. Last year the bank announced a major investment in its digital platform. ”We plan to continue our digital transformation program with a planned investment of Dh1 billion over the next three years” the first half saw margins improve coupled with controlled loan growth. Expenses remains firmly under control and provide headroom to invest for future growth .”We also delivered a further improvement in credit quality with an increase in margins and lower costs, is a position we expect to hold for the remainder of 2017,”
(To be continued)
(Saghir A. Aslam only explains strategies and formulas that he has been using. He is merely providing information, and NO ADVICE is given. Mr Aslam does not endorse or recommend any broker, brokerage firm, or any investment at all, nor does he suggest that anyone will earn a profit when or if they purchase stocks, bonds or any other investments. All stocks or investment vehicles mentioned are for illustrative purposes only. Mr Aslam is not an attorney, accountant, real estate broker, stockbroker, investment advisor, or certified financial planner. Mr Aslam does not have anything for sale)

 

 

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Editor: Akhtar M. Faruqui
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