Sharia lender Al Hilal Bank profit rises 42 per cent



Al Hilal Bank, an Abu Dhabi-based Sharia-compliant lender, said its profit rose 42 per cent last year to a record amid increased demand for loans in a booming economy.

Net income increased to Dh441.4 million from Dh310.3m, the bank said on Wednesday. Customer deposits rose 13 per cent to Dh28.2 billion from Dh25bn.

The bank’s return on equity increased to 12 per cent last year from 7.8 per cent in 2010, while non-performing loans decreased to 1.2 per cent of its total financing lastyear, the lowest percentage recorded in the UAE, according to the bank.

“Al Hilal Bank has been able to account for a significant share of the local banking market in the first five years of its existence,” said Mohamed Jamil Berro, Al Hilal Bank’s group chief executive. “The bank has continuously witnessed steady growth since its establishment.”

“This is a result of successful implementation of the bank’s strategy which guides us, setting ambitious targets, delivering innovation and value to customers,” he said.

The bank, which has 85,000 customers (of which 4,000 were added in the first two-and-a-half months of this year), has been particularly keen to support the government’s Emiratisation programme. Out of its total workforce, 34 per cent are Emiratis.

Al Hilal Bank was established in 2008 by the state-run Abu Dhabi Investment Council. It is rated A1 by the credit rating agency Moody’s and A+ by Fitch, the highest ratings awarded to an Islamic bank in the UAE.

mkassem@thenational.ae

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Reputation

Taylor Swift

(Big Machine Records)

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Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

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Blackpink World Tour [Born Pink] In Cinemas

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Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

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UAE currency: the story behind the money in your pockets
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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Porsche Taycan Turbo specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 1050Nm

Range: 450km

Price: Dh601,800

On sale: now

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How Voiss turns words to speech

The device has a screen reader or software that monitors what happens on the screen

The screen reader sends the text to the speech synthesiser

This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen

A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB

The speech synthesisers VOISS develops are free

Subsequent computer versions will include improvements such as wireless keyboards

Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser

Partnerships planned during Expo 2020 Dubai to add more languages

At least 2.2 billion people globally have a vision impairment or blindness

More than 90 per cent live in developing countries

The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device

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The specs

The specs: 2019 Audi Q8
Price, base: Dh315,000
Engine: 3.0-litre turbocharged V6
Gearbox: Eight-speed automatic
Power: 340hp @ 3,500rpm
Torque: 500Nm @ 2,250rpm
Fuel economy, combined: 6.7L / 100km
 

Name: Brendalle Belaza

From: Crossing Rubber, Philippines

Arrived in the UAE: 2007

Favourite place in Abu Dhabi: NYUAD campus

Favourite photography style: Street photography

Favourite book: Harry Potter

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

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GULF MEN'S LEAGUE

Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2

Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers

 

Opening fixtures

Thursday, December 5

6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles

7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers

7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles

7pm, Pitch 5, Bahrain v Dubai Eagles 2

 

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