Prasanna Kandiah

For Manufacturing and Industrialization investors: #AbuDhabiBusinessWeek is a significant event for manufacturing and industrialization investors, not only within Abu Dhabi and the UAE but also on a global scale. Attendance at this event is crucial, as it offers valuable insights into the robust infrastructure of Abu Dhabi, which can facilitate business expansion and enhance investment opportunities. Engaging in this forum will undoubtedly contribute to the growth and value of their investments.

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"ADIB is proud to announce a strategic partnership with Emirates Development Bank (EDB) to empower UAE SMEs. As a leading financial institution committed to fostering the growth of the local economy, we recognize the vital role SMEs play in driving economic development. This partnership strengthens our ability to provide tailored financing solutions that meet the unique needs of these businesses. Together with EDB, we are dedicated to advancing financial inclusion for SMEs across various sectors. Our goal is to empower enterprises to scale, innovate, and navigate financial challenges more effectively. This partnership aligns with ADIB's broader SME initiatives, including: Digital SME Instant Account Opening: Simplifying the onboarding process through our user-friendly mobile app. ADIB Business Souq: Offering exclusive deals and discounts to reduce operational costs. By combining our expertise and resources, we aim to create a more supportive ecosystem for SMEs in the UAE. Join us in driving economic growth and empowering businesses to reach their full potential. #SMEFinance #UAE #EconomicGrowth #Partnership #ADIB #EDB

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Last week, I was privileged to engage with our top leadership team in an offsite meeting where we laid the groundwork for our #ADIB 2035 vision. This vision is not just about adapting to change; it’s about leading the way in a rapidly evolving banking landscape. The changes we’re witnessing in the banking industry—driven by consumer preferences and technological advancements like #AI—are occurring at an unprecedented pace. Coupled with the #UAE’s ambitious Vision 2071, it’s clear that ADIB must be ready to adapt and thrive. With ADIB 2035 vision , we are setting a comprehensive 10-year roadmap that will guide us through this next era of development with clear strategic goals mirroring the #UAE’s pioneering and inspiring experience in anticipating the future. Our focus will remain on being a customer-centric bank with a strong focus on innovation, fostering advanced digital capabilities and delivering innovative solutions that enhance the client experience. We will ensure that our digital transformation extends beyond customer touchpoints to drive efficiency in our operations. By leveraging AI, we will simplifyprocesses and anticipate customer needs for a seamless and personalized customer experience. At ADIB, our commitment to ethical and responsible banking is unwavering. We aspire to be a bank that employees are proud to work for, grounded in our Sharia-inspired principles and dedication to the community. Sustainability is a significant priority for us as part of #ADIB 2035 vision, and I’m proud to share that we received an AA rating from #MSCI. This recognition underscores our mission to serve as a trusted partner, delivering responsible and sustainable financial services. Together, we can ensure that ADIB not only meets the challenges of tomorrow but thrives as a lifelong partner for our customers, communities, and colleagues. #ADIB2035 #IslamicBanking #BankingInnovation #AI #Sustainability #Leadership #UAE2071

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ADIB Delivers Strong Performance in First Nine Months of 2024 ADIB today announced its financial results for the first nine months of 2024, demonstrating robust growth across all business lines. This success is driven by a combination of strong financing activity, a diversified funding base, and a balanced revenue mix. Key Highlights: Revenue Growth: ADIB achieved a significant 19% year-on-year increase in revenue for the first nine months of 2024, reaching AED 8 billion. Net Profit: Net profit before tax surged by an impressive 33% year-on-year to AED 5.2 billion, resulting in an industry-leading return on equity of 29%. Assets: Total assets reached AED 223 billion, reflecting strong customer financing growth. Market Share: The customer base expanded by 150,000, surpassing 1.4 million customers. Continued Commitment to Innovation: ADIB remains committed to fostering innovation. The recent launch of ADIB Ventures exemplifies this dedication. This initiative establishes an ecosystem that fosters groundbreaking solutions through partnerships with leading fintech disruptors. By combining forces, ADIB can develop cutting-edge digital solutions that seamlessly align with the evolving needs of its customers. Vision for the Future: Looking ahead, ADIB embarks on a new journey guided by a renewed vision for 2035. This vision emphasizes continuous product innovation, targeted expansion into new customer segments, and unwavering investment in next-generation technology. These strategic priorities ensure ADIB remains a future-proof bank. I would like to sincerely thank our loyal customers and trusting shareholders, our supportive Board of directors and the entire ADIB family for their hard work and dedication, Their unwavering support plays a critical role in realizing the bank's vision. For detailed financial report information, please visit our Investor Relations page: https://lnkd.in/dczhzmZu #ADIB #FinancialPerformance #Growth #Innovation #CustomerCentric#ADIBvision2035

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ADIB is pleased to announce the release of its 2023 Environmental, Social, and Governance (ESG) Report, outlining significant progress towards our net-zero emissions target by 2030. We are committed to translating our sustainability goals into concrete action. In 2023, ADIB achieved notable milestones: Issuance of the world's first green sukuk by a bank, raising $500 million to support environmentally beneficial projects. Reduction of Scope 1 emissions by 65%, demonstrating our dedication to operational efficiency and environmental responsibility. Beyond these achievements, ADIB is actively embedding ESG principles throughout its operations. This focus on responsible practices strengthens our service offerings while contributing to a more sustainable future. The 2023 ESG Report details our commitment to aligning Islamic finance principles with environmental and social responsibility. Download the full report to learn more about ADIB's journey towards a sustainable future and visit our website: https://lnkd.in/drR48atH #ADIB #Sustainability #NetZero #ESG #Innovation #SustainableFuture

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Start of a transformational journey for Ajman Bank. The results speak of a clear vision and strategy set for the bank. More to follow so watch this space!

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Abu Dhabi Commercial Bank today announced its Q2/H1 2024 results, with a very strong financial & operational performance amid robust UAE economic fundamentals. Learn more on adcb.com/ir Highlights include: - Net profit before tax of AED 5.023 bn in H1’24, up 28% and AED 2.593 bn in Q2’24, up 30% YoY - Net loan growth of 22% YoY - Customer deposit growth of 23% YoY - Strengthened capital position of 13.17% CET1 and 16.43% CAR - Further improved risk adjusted margins for Q2'24 at 2.16% (9bps improvement YoY) By leveraging its leading franchise and financial strength, ADCB is well positioned to achieve further growth, and to play a central role in UAE's vibrant economy.

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Introducing UAE's first fractional sukuk platform....real-time buying / selling of sukuks with $1000 !

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Tokenisation of real-world assets and offering them as investment opportunities is critical for the customers to diversify their portfolio

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Glad to see ADIB - Abu Dhabi Islamic Bank leading the way again in reshaping the future of Islamic finance. The world of finance is evolving rapidly, and one of the most exciting innovations is the rise of digital assets. By leveraging technology, these sukuk are breaking down the barriers to access new investment opportunities creating a more inclusive financial experience. #Financialinclusion #tokenized sukuk #Fintech #Innovation #DigitalAssets #islamic finance

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My article in Islamic Finance News, Volume 21, dated 1/10/2024, covering the potential merger between Boubyan Bank and Gulf Bank, digital banking Innovations and the completion of KFH-AUB Merger

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I take pride in sharing with you Ajman Bank's annual sustainability report which summarizes our efforts and direction towards a sustainable future. As a Shariah compliant Bank, environmental and social responsibility has always been a core of our basic values and practices; sustainability is a part of that longstanding promise and guides our approach to how we conduct our business today and how we aspire to grow in the future. #Sustainability #ESG

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QIB Recognized as Qatar’s Best Bank By Global Finance for a second year in a row Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has once again been named the Best Bank in Qatar for the second year in a row in the World’s Best Bank Awards 2024 by Global Finance Magazine. This prestigious accolade solidifies QIB’s position as Qatar’s leading banking institution, highlighting its dedication to fostering sustainable growth and being the preferred choice for customers who value trust, security, and innovation. It also underscores QIB’s commitment to investing in digital innovation to adapt to the evolving needs of its customers. QIB has led digitalization efforts, enhancing both retail and corporate online experience by introducing innovative features across its Mobile Apps, setting new industry standards. This dedication has revolutionized customer interactions and internal operations, yielding significant benefits for stakeholders. With an impressive 99% of transactions now seamlessly conducted through self-service channels, QIB prioritizes customer convenience and efficiency. Moreover, the bank’s commitment to innovation is evident through the introduction of new products, services, and features across retail and corporate mobile apps, consolidating its leadership in the financial market. Expanding beyond digital banking, QIB maintains a network of modern branches across Qatar, tailored to different customer needs. With a focus on strong customer relationships and community involvement, QIB supports economic diversification, sustainable growth, and improves customer financial well-being. Commenting on this achievement, Mr. Bassel Gamal, QIB Group CEO said: “Amid this year’s volatile macroeconomic conditions, QIB has reaffirmed its resilience as a consecutive award recipient and has exceeded customers’ expectations by introducing innovative products, setting new standards for banking in Qatar and beyond. This recognition cements our leadership, reinforcing our commitment to delivering convenient and innovative services. Congratulations to our team on this well-deserved recognition that would have not been possible without the support of our Board of Directors and the trust of our customers.” Global Finance recently announced its 31st annual awards for the World’s Best Banks, honoring outstanding financial institutions across the world. The awards span nearly 150 countries worldwide, encompassing regions such as Africa, Asia-Pacific, Latin America, and more. Criteria for selection ranged from objective metrics like asset growth and profitability to subjective assessments, including feedback from industry experts and stakeholders. Winners were chosen based on their commitment to customer satisfaction, innovation, and adaptability in challenging market conditions.

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📢 Exciting news! Arab Bank is leading the way as the first bank to offer a Remote Deposit Cheque service for corporate clients, allowing them to deposit checks quickly and securely through Arabi Connect. Proud to have been part of this project to enhance our clients’ banking experience. Reach out with any questions! #ArabBank #DigitalBanking #DigitalTransformation #CorporateBanking

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In today's world, where #empowerment and #progress matter most, the Emirates Institute of Finance (EIF) shines as a beacon of #opportunity. Working alongside the Central Bank of the UAE (CBUAE), EIF is dedicated to helping Emiratis succeed in #banking and #finance. The question of why this commitment to empowering national talent is paramount is simple yet profound. It's about fostering a sense of ownership, pride, and capability within the Emirati community. When individuals are empowered with the knowledge, skills, and opportunities to thrive, they not only elevate themselves but also contribute significantly to the prosperity and sustainability of their nation. We achieve this empowerment through a multifaceted approach. Firstly, we provide world-class education and training programs tailored to the needs of the banking and finance sector. These programs equip Emiratis with the expertise and confidence to excel in their chosen fields. Additionally, we foster a culture of mentorship and support, connecting aspiring professionals with seasoned industry leaders who guide and inspire them along their journey. Moreover, we actively promote diversity and inclusion within the sector, ensuring that all voices are heard and valued. As we look forward, there's a lot more to come in our journey of empowerment. We'll keep finding new ways to help, adapting to what's needed in the banking world. Plus, We'll team up with others to make sure Emiratis have even more chances to do well and help our country move forward.

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In the latest meeting chaired by H.E. Mohammed Omran Al Shamsi, the UAE Banks Federation highlighted achievements in #bankingsector growth and #Emiratisation efforts, emphasising trust and #innovation for #SMEs and #sustainablefinance. Click here to read the complete story: https://shorturl.at/Ks0ao Follow SME10X for regular updates. #sme10x

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Saudi Arabia’s e-commerce landscape is expanding rapidly, with 53% of customers in the Kingdom looking to boost their online spending in the next 12 months. Driven by increasing consumer trust and preference for online shopping and digital transactions. Rapid e-commerce growth: 1) 53% of customers in Saudi Arabia plan to increase their online spending in the next 12 months. 2) 180% increase in regular e-commerce shoppers over the past four years. 3) 90% increase in individuals making daily online purchases since 2020. Digital payments ecosystem: 1) Significant growth in digital payments, with a 66% decline in cash-on-delivery preference since 2020. 2) 75% of online shoppers would use card payments if cash on delivery is unavailable. 3) Emphasis on payment security and increased trust in digital payments. Regional trends: 1) Middle East and North Africa (MENA) region saw a nearly sevenfold increase in digital payment transactions (678%) since 2020. Fintech advancements: 1) Saudi Arabia's fintech sector is progressing towards becoming a regional financial hub. 2) Cashless payments in Saudi Arabia expected to rise by 7.6% to SR550 billion ($146.8 billion) in 2024. 3) Saudi card payments market projected to grow at an annual rate of 6.4% from 2024 to 2028, reaching SR705.2 billion. Transformation goals: 1) Saudi Arabia aims to reduce dependency on cash transactions as part of its broader economic transformation.   This growth is supported by strategic investments and developments in the fintech sector, aligning with the country's broader economic transformation goals. #saudiecommerce #digitaltransformation #onlineshopping #ecommercegrowth #cashlesssociety #digitalpayments #fintech #saudivision2030 #proptech #techinnovation #saudifintech #middleeasttech #paymentsecurity #smartinvestments #futureofcommerce #saudiarabia #gcctech #smartpayments #innovationinconstruction https://lnkd.in/dFNDW5VP

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Making the world smaller one transaction at a time.

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