RIYADH: Saudi Arabia and Iraq plan to launch a joint investment company, Al Arabiya reported.
Saudi Commerce Minister Majid Al-Qasabi, who also chairs the Saudi-Iraqi Coordination Council, told the news channel that the company would act as a guarantor for investments and help to channel capital from the Kingdom to Iraq.
It follows plans to launch a $3 billion fund to promote investments in the country agreed in March during a visit by Iraqi Prime Minister Mustafa Al-Kadhimi to Saudi Arabia.
Al-Qasabi also revealed that the Kingdom was studying the opening of other border crossings with Iraq following the re-opening of the Arar border post last year for the first time in 30 years. It had been closed after Saddam Hussein's invasion of Kuwait.
He added that three commercial offices would be opened in Iraq along with branches of the Kingdom’s investment ministry.
The commerce minister said that the Kingdom supported the reconstruction of cities liberated by Daesh, through the Saudi Investment Fund and had allocated 500 educational scholarships for Iraqi youth.
Saudi commerce minister reveals plans for joint Iraqi investment company
https://arab.news/byf9s
Saudi commerce minister reveals plans for joint Iraqi investment company
- It follows plans to launch a $3 billion fund to promote investments in the country agreed in March during a visit by Iraqi Prime Minister Mustafa Al-Kadhimi to Saudi Arabia
Islamic banks’ market share in Turkiye rises to 9.2%: Fitch Ratings
RIYADH: Islamic banks in Turkiye lifted their asset market share to 9.2 percent in 2025 from 8.1 percent a year earlier, as financing and deposits outpaced the broader banking sector, a new analysis showed.
In its latest report, Fitch Ratings said financing and deposit market shares rose to 7.9 percent and 10.4 percent, respectively, by the end of 2025, compared with 7.3 percent and 9.4 percent in 2024.
The agency noted that new digital Islamic banks are emerging in the country, with investment from Gulf Cooperation Council countries expected to continue.
Turkiye’s strong ties with Islamic countries across the Balkans, Africa and the Middle East support the development of its Islamic banking sector, attracting investors and contributing to the industry’s growth.
In its latest report, Fitch stated: “Three recently established private Islamic banks (two digital) grew rapidly in the first nine months of 2025. Investment in digital participation banking from the Gulf Cooperation Council countries underscores the potential for further investment from the region.”
It added: “Planned establishment of new participation banks, and rapid growth of recently established banks – albeit from small bases – means that the segment landscape may be reshaped in 2026.”
Dubai Islamic Bank PJSC’s investment in digital bank TOM underscores the potential for further GCC investment.
Turkish regulators have approved the establishment of Halk Katilim Bankasi A.S. and Adil Katilim Bankasi A.S. (digital), while BIM Birlesik Magazalar A.S.’s application is pending.
Fitch added that state-owned participation banks may merge or pursue initial public offerings, potentially reshaping the banking landscape.
The report predicts Islamic banks’ market share will rise further in 2026, supported by strong internal capital generation and growth appetite. However, the non-performing financing ratio may increase moderately due to high inflows.
“The segment’s non-performing financings ratio deteriorated to 2 percent at end-2025 compared to 1.2 percent in 2024 but remained below the sector average of 2.5 percent,” said Fitch.
It added: “We expect pressure to persist given still-high financing rates, high but declining inflation, and the sensitivity of unsecured retail (lower share than conventional banks) and SME segments to economic cycles. We forecast a moderate increase in the segment NPF ratio in 2026.”
