Abu Dhabi carrier welcomed over 1.4 million passengers last month
Combined assets of global Islamic financial institutions (IFIs), which are expected to post a growth of 20 to 30 per cent this year, have already shown signs of deceleration.
“However, IFIs benefit from a number of buffers (including ample capital and strong retail platforms) that will enable them to continue growing, albeit at a slower pace, before resuming more rapid growth, most probably within an 18-month timeframe,” a report by Moody’s said.
In times of crisis, clients may find it more comfortable doing business with an Islamic bank as such institutions are perceived as focusing on the basics of financial intermediation and depositors may therefore view them as safer havens less prone to excessive financial innovation, the report noted.
In the GCC, IFIs, despite their higher direct and indirect exposures to the property market compared to conventional peers, have displayed strong resilience amid the current global financial debacle, the report said.
Abu Dhabi carrier welcomed over 1.4 million passengers last month
ACT is accepted by all US colleges and universities
With major roads impassable due to floods, supply chains in some communities have taken a hit
The problem extends beyond the water shortage, electricity has also been cut off – so building lifts are no longer functioning
The safety of passengers, restoring operations to normal, and mitigating the effects of the crisis on travellers at the airport, have been their priorities
Leaders have emphasised that the safety of the people is their top priority.
Profit attributable to shareholders stood at Dh1.13 billion on December 31, 2023
Facility is the first of its kind raised by a Shariah-compliant financial institution