Yousef Haddad

Writer,

icn.live

Yousef Haddad writes for ICN.live about global markets, cross-border payments, and digital custody and has authored market coverage for Arab News Tech, and other regional publications. Known for clarity and precision, he trained in Broadcast Journalism and Media Communication at a leading Arab University. His passion for biking is very well known inside of the company. He has a huge collection of bikes.

Banking

CBI’s first-half 2026 profit jumps 68% on legacy recoveries and loan growth

CBI’s first-half 2026 profit reached AED156 million, up 68 percent from the same period a year earlier. The result at Commercial Bank International rested on a wider balance sheet and money recovered from older accounts.

Second-quarter pre-tax net profit came to AED104 million. Recoveries linked to the clearing of legacy accounts lifted the quarter, and that pattern shaped the half-year figure.

What lifted CBI’s first-half 2026 profit

Net interest income rose 8 percent year-on-year to AED207 million. Growth in customer assets carried the increase. In the second quarter, net interest income climbed 9 percent to AED103 million, up from AED95 million a year earlier. The bank earns net interest income on the gap between what it charges borrowers and what it pays depositors. A bigger loan book widened that gap over the half.

The rise in CBI pre-tax net profit also tracked a sharp move in provisions. CBI booked a net impairment recovery of AED69 million. The figure reflects better asset quality as older accounts were settled. Legacy accounts are older loans and exposures a bank flags as troubled. Clearing them frees capital and can turn past write-downs into gains when borrowers repay, or assets sell.

Balance sheet and deposits

Total assets rose 12 percent year-on-year to AED23 billion. Loan growth and a larger strategic investment portfolio drove the gain. Customer deposits grew 7 percent to AED16.4 billion, which strengthened liquidity and the funding base.

The capital adequacy ratio stood at 16.5 percent. That level sits above the minimum set by regulators, leaving room to fund further lending. A cushion above the regulatory floor lets a bank keep lending through a downturn without breaching its limits.

Ali Sultan Rakkad Al Amri, chief executive of Commercial Bank International, tied the results to the bank’s transformation. The chief executive said the first-half figures reflected continued momentum, with profit growth built on disciplined execution, balance sheet work, and progress in resolving legacy accounts. He called the operating model resilient.

Al Amri pointed to solid fundamentals behind the performance. He cited a focus on a customer-centred experience across products, services, and channels, and on longer customer relationships.

Where the numbers sit among UAE bank results 2026

The half-year figure followed a first quarter in which CBI reported pre-tax net profit of AED52.1 million, up 14 percent year-on-year. For the full year 2025, the bank posted pre-tax net profit of AED311 million, its highest annual figure on record. The CBI first half 2026 profit outpaced the first-quarter run rate by a wide margin.

Commercial Bank International began operating in 1991 and is based in Dubai. Its shares trade on the Abu Dhabi Securities Exchange, and the Central Bank of the UAE and the Securities and Commodities Authority oversee it. Set against the broader run of UAE bank results 2026, the bank’s steadier asset quality and firm capital position point to a lender closing the gap on larger peers.

Looking ahead, Al Amri said the bank would keep building its operational strength and financial position. He linked that work to supporting customers and delivering sustainable growth and long-term value for clients and shareholders.

By Yousef Haddad
3 min read

Real Estate

Emirati investors in Sharjah led the property market in H1 2026

The department’s specialised report placed UAE nationals at the top of every investor segment. Their AED14.9 billion covered 22,599 properties held by 9,655 investors. That share came to 50.6 percent of the total, a figure that frames the rest of the data. Sharjah real estate transactions H1 2026 reached AED29.5 billion across all buyers.

The department linked the result to confidence in the emirate’s investment environment. It pointed to advanced legislation, sustainable urban development and quality projects as the drivers. Each factor, the report said, adds to the emirate’s competitiveness.

Sharjah’s real estate market drew a wide investor base this year, and Emirati buyers set the pace on both value and volume.

Women’s share of the market

The report gave close attention to Emirati women in the property market. Male investors accounted for 72 percent of traded properties. Women held the other 28 percent.

Ownership distribution told a similar story. Emirati male owners made up 59.3 percent of sales transactions, against 40.7 percent for female owners. On value, men accounted for 75.3 percent of total sales transaction value and women 24.7 percent. The department read these figures as a sign of the growing economic role of Emirati women and their weight as partners in investment and development.

How the age groups compare

The report broke investment activity into three age bands. Among nationals aged 35 and under, men held 65.5 percent of traded properties and women 34.5 percent. Ownership split 57 percent to 43 percent, while sales value ran 72.5 percent to 27.5 percent.

For the 36 to 53 band, men accounted for 71.2 percent of traded properties and women 28.8 percent. Ownership reached 58.2 percent for men and 41.8 percent for women. Sales value stood at 73.3 percent to 26.7 percent. Among investors aged 54 and above, men held 77.6 percent of traded properties and women 22.4 percent. Ownership reached 64.3 percent to 35.7 percent, and sales value 78 percent to 22 percent. The pattern points to stronger female participation at younger ages.

What officials said

Abdulaziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, said the UAE Investor Report results reflect the success of the emirate’s development approach and the strength of its market. He tied the achievements to the vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of H.H. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler.

Al-Shamsi said the report’s meaning goes beyond investment volumes to the wider participation of young people and women. Emirati investors in Sharjah, he added, continue to find opportunities that reinforce the emirate’s standing as a destination for sustainable property investment. UAE nationals’ property investment across Sharjah, backed by the Sharjah Real Estate Registration Department, keeps drawing steady interest. For anyone tracking Sharjah property investment, the H1 figures set a clear marker on where the demand sits.

By Yousef Haddad
3 min read

FTA VAT refund for UAE nationals climbs to Dhs353.5m in H1 2026

The VAT refund for UAE nationals building new homes reached Dhs353.5 million in the first half of 2026, the Federal Tax Authority confirmed. About 4,000 applications won approval in that period. Each covered VAT paid during construction of a private residence.

The prior year set a lower base. In H1 2025, the authority approved 3,100 applications worth Dhs284.8 million. Approved applications climbed 27.5 per cent. The value refunded rose 24.1 per cent.

Numbers behind the increase

The gap between the two years is measurable. About 900 more applications cleared approval. Refunds grew by roughly Dhs68.7 million year on year. The average refund per approved application sat close to Dhs88,000 in H1 2026.

Abdulaziz Mohammed Al Mulla, Director-General of the FTA, tied the result to changes in how the scheme runs. He said the authority has added measures to simplify and speed up procedures through its digital refund platform. He also pointed to awareness work across several channels, aimed at showing citizens how the service works and what has improved.

How the VAT refund for UAE nationals now works

The Federal Tax Authority has built a proactive service into the process. A refund application can be generated automatically through the Maskan app once the municipality issues the building completion certificate. Where it applies, the building permit can trigger the same step.

After the application is created, the citizen gets an SMS and an email. Both confirm that a refund application for the residence exists. The messages carry a link or a QR code that sends the citizen to the Maskan app to finish the required steps.

Less manual work for applicants

Invoice details now flow in on their own. Once registered suppliers issue invoices, the details populate the citizen’s account inside the Maskan app. The number of banking-information fields has been cut through integration with the Central Bank of the UAE.

Invoice data is also compiled into one Excel file that holds applicants’ details once typed in by hand. Artificial intelligence checks the accuracy of refund amounts and suppliers’ Tax Registration Numbers. All invoices are consolidated into a single file.

Wider eligibility under the Year of Family

The 2026 designation as the Year of Family shaped one change to the scheme. The FTA expanded the range of eligible expenses that qualify for VAT refunds tied to new residence construction. The authority said the step supports a modern housing system and helps citizens fund a stable family home.

For homebuilders, the practical route runs through two channels. Applicants can file through the EmaraTax portal or the Maskan app, depending on preference. The VAT refund for UAE nationals covers construction VAT, not furniture, appliances, or other non-structural items, based on FTA guidance published earlier in 2026. Claims generally must be lodged within 12 months of completion.

By Yousef Haddad
3 min read

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