Islamic News Archive - East Africa

As part of our Sustainability Program, we organized a school supplies distribution initiative on September 13, 2026, in Balbala, in collaboration with the Jeune Midnimo Biyokeid Association.

This initiative aimed to support children and their families during the back-to-school period, a time when household expenses can significantly increase. A total of 150 children, accompanied by their parents, benefited from the distribution of essential school supplies, helping to ease the financial burden on families and ensuring that children could start the new school year with the necessary materials.

The school supplies distributed included backpacks, pencil cases, pens, and notebooks. Each complete set of supplies was carefully arranged and placed inside the backpacks before being distributed to the beneficiaries.

Through this initiative, we reaffirm our commitment to supporting local communities and contributing to equal access to education.

We would like to extend our sincere thanks to the Jeune Midnimo Biyokeid Association for its continued collaboration, commitment, and valuable support in making this initiative possible. We look forward to continuing to work together on future initiatives that create a positive and lasting impact within our community.

The British Embassy in Djibouti hosted a send-off event on Thursday 27 to celebrate this year’s Chevening Scholars ahead of their departure to the United Kingdom. Ilwade scholars celebrated was Ms. Ilwad Mahdi Abdi, who will be joining the University of Sussex to pursue a Master’s degree in International Law. iib East Africa is proud to sponsor Ms. Ilwad’s Chevening Scholarship, supporting her academic journey and contributing to the development of future talent in Djibouti.

The event was attended by H.E. Vinay Talwar, British Ambassador to Djibouti, and Mr Vianney Bizimana, Acting CEO of iib East Africa, alongside colleagues and guests who gathered to celebrate Ms. Ilwad’s achievement and wish her success as she begins this important new chapter.

iib East Africa’s sponsorship reflects iib’s wider commitment to investing in education, empowering young talent, and supporting the development of future leaders. iib’s involvement with the Chevening Scholarship programme began last year and has since become an integral part of its education mandate, supporting scholars in Djibouti, Ethiopia, and Cape Verde.

iib congratulates Ms. Ilwad Mahdi Abdi on this significant achievement and wishes her every success throughout her studies at the University of Sussex and beyond.

London, 16 July 2026 – iibGroup celebrated a remarkable achievement at the global Euromoney Awards for Excellence ceremony, held at The Peninsula London, where the Group received three major awards across two African markets, reinforcing its growing influence in the continent’s financial sector.

The evening saw iib West Africa claim two distinguished titles, Cape Verde’s Best Bank and Cape Verde’s Best Investment Bank, while iib East Africa was named Djibouti’s Best Investment Bank. For more than 30 years, the Euromoney Awards for Excellence have recognised financial institutions that set the global standard in performance, innovation and client impact.

These awards demonstrate iibGroup’s ability to deliver excellence across diverse markets. In Cape Verde, iib West Africa’s dual recognition reflects its strength across retail, corporate and investment banking, supported by landmark initiatives such as the country’s first Blue Bond.

In Djibouti, iib East Africa, was recognised for its leadership in investment banking, with particular strengths in structured trade finance and cross-border advisory services, reinforcing its position as a trusted financial partner in the region.

“These three Euromoney awards are a significant endorsement of our approach across two important markets. They reflect the consistency of our strategy, the capability of our teams, and the confidence that our clients continue to place in us. Recognition at this level reinforces our belief that excellence, integrity, and a long-term focus remain the foundations of sustainable success.”

Sohail Sultan, Group Chairman.

The London ceremony was attended by iibGroup representatives including Sohail Sultan, Chairman – iibGroup,Joseph Carasso, CEO – iib West Africa, Mateen Beg, CFO – iibGroup, Sabiha Sultan Director – Institutional Investors and Farah Sayeed, Director – Brands & MarCom.

The latest wins build on iibGroup’s momentum in 2026, following earlier recognition at the Euromoney Private Banking Awards. The Group remains focused on expanding its private banking, investment banking, and wealth management capabilities across Africa and beyond, combining global standards with deep local expertise.

About iib West Africa (Cape Verde)

iib West Africa is a licensed banking institution based in Cape Verde, serving corporate and institutional clients across the region. The bank is committed to advancing financial inclusion, innovation, and private sector development in the region.

About iib East Africa (Djibouti)

iib East Africa is a licensed banking institution based in Djibouti, with a representative office in Addis Ababa, Ethiopia, serving corporate and institutional clients across the Ethiopia–Djibouti corridor. The bank is committed to advancing financial inclusion, innovation, and private sector development in the region.

About iibGroup Holdings W.L.L. (Bahrain)

iibGroup is a diversified international investment and banking group with operations across East Africa, the Middle East, West Africa, and the Caribbean. The Group provides commercial banking, structured investment and advisory solutions while also deploying capital into high-impact sectors such as trade, digital infrastructure, and financial inclusion. Through its regional platforms, iibGroup supports SMEs, empowers women- and youth-led enterprises, and channels capital to industries that strengthen regional integration and sustainable growth across emerging markets.

Visit Chevening Impact Report

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(Read about iib on pg 27)

Addis Ababa, 2nd June 2026 – Building on its successful partnership with the Chevening Scholarships programme in Cabo Verde and Djibouti, iibGroup has renewed its support for the 2026–2027 academic year and expanded the initiative to Ethiopia. This year, three fully funded Chevening scholarships will be awarded across Africa, one each in Cabo Verde, Djibouti, and Ethiopia, reinforcing iib’s commitment to education, leadership development, and capacity building across the continent.

A formal signing ceremony was held on Tuesday, 2 June, at the residence of the UK Ambassador in Addis Ababa to officially mark the partnership. The event brought together H.E. Darren Welch, UK Ambassador to Ethiopia & Permanent Representative to the African Union, and Sohail Sultan, Chairman of iibGroup. The ceremony was attended by a distinguished group of stakeholders, including S.K. Husain, Maruf Ahmed, Mateen Beg, Aynalem Ababu and Farah Sayeed, representing iib. Zafar Sultan, Scott Lewis and Ali Khuatau were also in attendance. The ceremony highlighted the collective commitment of all parties to foster meaningful collaboration and strengthen strategic partnerships in support of shared objectives.

Speaking at the occasion, Sohail Sultan, Chairman of iibGroup, said, “Over the past year, students supported through the iib Chevening Scholarships have demonstrated the transformative power of investing in talent. Their achievements are generating positive ripple effects, not only in their own lives but also across their communities. By extending this partnership to cover Ethiopia, we reaffirm our commitment to nurturing future leaders and advancing sustainable and inclusive development across the continent. As an institution with an active presence in emerging markets, supporting social development is of critical importance to us. We are immensely proud to work closely with the FCDO and its local representatives on initiatives we truly believe in. Education, in our view, is fundamental to both social and economic progress, and the Chevening programme represents the very best of British values.”

H.E. Darren Welch, UK Ambassador to Ethiopia & Permanent Representative to the African Union, stated, “This new partnership with iib will create opportunities for the next generation of women Ethiopian leaders through our Chevening programme. We are proud to be collaborating with iib to support Ethiopian talent, and through supporting scholarships in the financial sector, we will be giving opportunities to learn about the London market, one of the world’s biggest and most innovative. Through the Chevening programme, we are investing not only in education, but in the future of Ethiopia’s financial sector and its global connections. We look forward to seeing the impact these brilliant scholars will have in the years ahead.”

The Chevening Scholarship initiative, funded by the UK Government, is aimed at exceptional individuals with proven leadership potential and a strong drive to make an impact. The programme fully supports postgraduate studies at universities across the United Kingdom while also connecting scholars to an influential international community of more than 60,000 alumni spanning over 160 countries and regions worldwide.

Beyond covering tuition and living expenses, iib will provide selected scholars with mentorship, professional guidance, and hands-on exposure to its diverse portfolio of initiatives through active involvement in meaningful projects across the organisation. This continued commitment reflects iib’s dedication to developing future leaders, creating lasting social impact, and empowering talented individuals to drive innovation and contribute to sustainable development within their communities and beyond.

About iibGroup Holdings W.L.L. (Bahrain)

About iib East Africa

London, 21 April 2026 — iibGroup is proud to announce that iib East Africa has been named Best Sustainable Bank in Djibouti 2026 by Global Finance Magazine as part of its annual Sustainable Finance Awards. The recognition was presented at the Global Finance Awards Ceremony, bringing together leading financial institutions from around the world.

This marks the second consecutive year the bank has received this recognition, reinforcing its growing role in advancing sustainable finance across the Ethiopia–Djibouti corridor.

The Global Finance Sustainable Finance Awards recognise institutions demonstrating strong integration of sustainability into their operations, alongside measurable contribution to economic development through responsible financing practices.

Representing iibGroup at the ceremony were Sohail Sultan, Chairman of iibGroup, and S.K. Husain, COO, who accepted the award on behalf of the bank. The recognition reflects iib East Africa’s continued focus on enabling access to finance, supporting enterprise growth, and delivering responsible banking solutions in Djibouti and the wider region.

Commenting on the achievement, Sohail Sultan, Chairman of iibGroup, said:
“Sustainable finance remains central to how we operate across our markets. Our focus is on deploying capital in a way that supports long-term economic growth while enabling businesses to scale. This recognition reflects the progress we are making in delivering that impact.”

iib East Africa continues to prioritise sustainable finance across key sectors including trade, infrastructure, and private enterprise, supporting long-term development while strengthening financial inclusion.

This recognition further underscores iibGroup’s commitment to building a responsible and impact-driven banking platform across emerging markets.

Djibouti — 15th April, 2026 – iib East Africa, part of iibGroup, has signed a Memorandum of Understanding (MoU) under the Chevening Scholarship Programme, further strengthening its commitment to education and talent development across Africa.

As part of the initiative, iibGroup will sponsor three scholars for the upcoming academic cycle one each from Djibouti, Ethiopia and Cape Verde enabling them to pursue one year postgraduate studies in the United Kingdom.

The agreement reflects an expansion of the partnership, with Ethiopia included this year, alongside Djibouti and Cape Verde, reinforcing iibGroup’s growing regional footprint and cross-market engagement.

The signing ceremony was held in Djibouti and attended by Maruf Ahmed, Director iib East Africa; Neima Omar, Chief Operating Officer; Nasir Abdi, Head of Client Coverage; Vinay Talwar, H.E Ambassador of UK to Djibouti and other colleagues.

Strategic Focus on Talent and Regional Development
Through this collaboration with the Chevening Scholarship Programme, one of the UK government’s most prestigious global scholarship initiatives. Through this partnership, iibGroup will enable selected scholars to pursue one-year further studies in the United Kingdom, contributing to the development of skilled professionals across its core markets while strengthening regional connectivity through shared academic and leadership exposure.

Maruf Ahmed – Director iib East Africa commented:
“This year’s expansion to include Ethiopia reflects the natural progression of our regional strategy. By extending this partnership across three markets, we are supporting the development of talent that understands both local realities and global frameworks, an essential combination for the next phase of growth across our operating regions.”

Vinay Talwar – H.E. Ambassador of UK to Djibouti added:
“Our continued partnership with Chevening in Djibouti reflects a long-term commitment to investing in people. Initiatives like this play an important role in strengthening institutional and educational ties, while creating opportunities for future leaders to contribute meaningfully to national development.”

Driving Long-Term Impact
The initiative forms part of iibGroup’s broader ESG and development agenda, which focuses on strengthening local ecosystems through education, financial inclusion, and strategic partnerships.
By aligning with globally recognized institutions such as Chevening, iibGroup continues to position itself as a catalyst for meaningful, long-term impact across emerging markets.

About iib East Africa (Djibouti)
iib East Africa is a licensed banking institution based in Djibouti, serving corporate and institutional clients across the Ethiopia–Djibouti corridor. The bank is committed to advancing financial inclusion, innovation, and private sector development in the region.

About iibGroup Holdings W.L.L. (Bahrain)
iibGroup is a diversified international investment and banking group with operations across East Africa, the Middle East, West Africa, and the Caribbean. The Group provides banking, investment, and advisory solutions while also deploying capital into high-impact sectors such as trade, digital infrastructure, and financial inclusion. Through its regional platforms, iibGroup supports SMEs, empowers women- and youth-led enterprises, and channels capital to industries that strengthen regional integration and sustainable growth across emerging markets.

About Chevening
Chevening is the UK Government’s international scholarships programme, funded by the Foreign, Commonwealth and Development Office (FCDO) and partner organisations. It offers outstanding emerging leaders from around the world the opportunity to pursue one-year master’s degrees in the UK.

Addis Ababa, Ethiopia/Manama, Bahrain, March 27, 2026 – iibGroup has officially opened a Representative Office in Addis Ababa, marking a significant milestone in the Group’s long-term regional strategy in East Africa. The new office will enable iibGroup to deepen its engagement with Ethiopia’s financial ecosystem, support cross-border investment, and position the Group to play a constructive role as the country advances reforms aimed at modernizing and opening its financial landscape. While there are 15 representative offices in Ethiopia, iib is the first to obtain this significant license post-reform, which underscores our commitment to the Ethiopian market.

Ethiopia’s Financial Liberalization Creates New Opportunities
As regulatory reforms continue to unfold, the market is expected to unlock new opportunities in foreign investment, trade facilitation, and financial services innovation. Building on its regional platform through iib East Africa in Djibouti, iib’s presence in Addis Ababa positions the Group among the first international financial institutions establishing a footprint in Ethiopia. Through its regional expertise and transactional banking capabilities, the bank aims to support Ethiopia’s expanding trade and investment landscape while building long-term partnerships with local institutions and businesses. iib is well positioned to leverage its experience and networks across the Horn of Africa to support Ethiopia’s financial sector transformation.

“Ethiopia represents one of the most exciting frontier opportunities in global finance today,” said Sohail Sultan, Chairman of iibGroup. “As we deepen our understanding of the local market and build trusted partnerships with Ethiopian businesses and institutions, we will continue to explore opportunities to expand our presence in line with Ethiopia’s evolving regulatory framework. Our office in Addis Ababa reflects our long-term commitment to Ethiopia and to the broader East African region.”

Strengthening the Ethiopia–Djibouti Trade Corridor
With a presence in both Djibouti and Ethiopia, iib East Africa will provide commercial and transactional banking services with a focused mandate on the Ethiopia–Djibouti trade corridor, one of the region’s most strategically important trade routes through which most of Ethiopia’s import and export trade flows.

Operating within the regulatory framework governing banking offices, iib East Africa in Ethiopia will focus on developing relationships with local financial institutions, engaging with key stakeholders, and conducting market research to identify emerging opportunities in Ethiopia’s evolving financial sector. The office will also serve as a liaison through which Ethiopian businesses and potential partners can access iibGroup’s international banking capabilities and connect with the bank’s broader regional network.

“We aim to serve as a bridge between Ethiopian businesses and international markets,” said Mrs. Aynalem Ababu, Chief Representative Officer in Addis Ababa. “At the same time, we look forward to supporting international investment into Ethiopia’s major infrastructure initiatives, including the Bishoftu airport project and its planned aerotropolis development.”

Media Contact
Farah Sayeed
Director, Brand & Marketing Communications
iibGroup
farah.sayeed@iibanks.com
+973 1711 6634
www.iibanks.com

Djibouti, 18 March 2026 – iib East Africa organized a community food distribution initiative in partnership with the Jeune Midnimo Biyokeid association, reinforcing its commitment to supporting vulnerable communities across Djibouti.

The initiative took place in the Biyokeid neighborhood of Balbala, an area where local needs remain significant and where the association plays an active and impactful role in community support. Held during the final days of the holy month of Ramadan, the initiative carried special significance reflecting the values of solidarity, generosity, and compassion that define this period.

As part of the effort, approximately 90 food packages were distributed to families in the community. Each package included essential food items aimed at providing meaningful support to households during Ramadan. In addition, coupons were distributed to all beneficiaries to enable better follow-up and coordination, ensuring that assistance reaches those who need it most in a structured and sustainable manner.

iib East Africa extends its sincere appreciation to the Jeune Midnimo Biyokeid association for their exceptional dedication, efficiency, and strong presence on the ground. Their commitment and local engagement were instrumental in the successful execution of this initiative.

Through this collaboration, iib East Africa reaffirms its broader mission of contributing to social development and supporting communities at the grassroots level. The bank remains committed to driving initiatives that create tangible impact, particularly during moments that call for collective support and shared responsibility.

Cape Verde / Djibouti / London, 19 March 2026 – iib has secured two prestigious wins at the Euromoney Private Banking Awards 2026, with iib West Africa named Cape Verde’s Best for Premier Banking and iib East Africa awarded Djibouti’s Best Private Bank. The awards were formally presented at a ceremony hosted at The Peninsula London Hotel on March 19, 2026, celebrating leading institutions in global private banking and wealth management.

The Euromoney Private Banking Awards are widely regarded as a benchmark of excellence in the financial industry, recognizing institutions that demonstrate superior performance in client service, innovation, discretionary portfolio management, and the ability to meet the evolving needs of high-net-worth clients.

These dual recognitions highlight iibGroup’s growing strength across multiple markets, underpinned by a client-centric approach and a commitment to delivering tailored financial solutions. In Cape Verde, iib West Africa has continued to strengthen its premier banking proposition through personalized advisory services and innovative product offerings. In Djibouti, iib East Africa has reinforced its leadership in private banking by delivering bespoke wealth management solutions and enhancing client experience through both relationship-driven service and digital innovation.

Commenting on the achievement, Sohail Sultan, Group Chairman, said:
“We are honored to receive these recognitions from Euromoney across two key markets. These awards reflect the strength of our strategy and our unwavering focus on delivering personalized, high-quality banking experiences. These awards are a testament to the trust our clients place in us and the dedication of our teams across regions to continuously raise the standard of private banking.”

The awards ceremony in London was attended by senior representatives from iibGroup, including Sohail Sultan, Chairman iibGroup) and Joseph Carasso, CEO iib West Africa, marking a significant milestone for the Group’s international presence and continued growth in private banking.

iibGroup remains committed to expanding its footprint and enhancing its private banking and wealth management capabilities, combining global best practices with deep local market expertise to serve clients across its operating regions.

About Euromoney
Euromoney is a globally recognized authority in financial publishing, providing analysis and rankings across the international banking sector. Its Private Banking Awards celebrate institutions that demonstrate excellence in wealth management and set the benchmark for client service and innovation worldwide.