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Latest News - Thursday, 28 March 2024

Daily Cover Story: Financial services company launches NGN10 billion (US$7.12 million) initiative to support Shariah compliant ventures

NIGERIA: Trade Lenda, a Lagos-based financial services provider with a special focus on helping MSMEs access financing, has launched a new initiative to support Shariah compliant businesses. The initiative is a fund worth NGN10 billion (US$7.12 million) that will support...

This Week’s Newsletter

Cover Story: Investors paying more attention to Islamic assets

After hitting a record high in 2021, Islamic assets under management (AuM) never quite recovered. But with renewed interest from big institutional names and a changing interest rate environment, it looks like Shariah funds are...

Editor's Note

Ebb and flow

There is something to be said about the Islamic investment space now. Peaks and troughs are natural in the investment cycle, and with more products, players and interest emerging in this realm, one wonders if...

IFN Annual Guide 2024

IFN Case Study

Public Investment Fund’s Sukuk: Sophomore issuance

The Saudi Public Investment Fund (PIF) returned to the Islamic capital market with an international Sukuk issuance — the second of its kind from the sovereign wealth fund. NESSREEN TAMANO writes. The Islamic trust certificate,...

IFN Sovereign Securities

Sovereign Sukuk: Turkiye issues gold lease certificates

The Turkiye government collected gold for lease certificates while the Pakistani Stock Exchange is preparing to hold its fifth government Sukuk Ijarah auction. Regular issuers Malaysia, Bangladesh, The...

IFN Country Analysis

The Ivory Coast: Ample support for Islamic finance

The Republic of Cote d’Ivoire, or the Ivory Coast, holds strong potential for a thriving Islamic finance industry, especially with the support it has garnered from the government in the past couple of years. NESSREEN...

IFN Sector Analysis

Bank debt and loan financing: Upward trajectory despite slowdown

Banking continues to be the real star in the global Islamic finance arena. Growth in Shariah financing may have moderated in certain markets, but the sector continues to expand. VINEETA TAN takes a closer look....

IFN Monthly Review

January

The global Islamic banking sector saw some notable developments this month, including a new Islamic bank from both the Philippines and Libya, while the Sukuk market welcomed the first issuances of the year from corporates in the GCC. The Malaysian and Indonesian regulators released new...

IFN Awards

IFN Awards

The Islamic Finance news Awards honor the best in the Islamic financial industry and are one of the most prestigious awards highly recognized by the global Islamic capital markets. These awards continue to be an apt representation of the current Islamic financial market landscape.


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IFN Features

  • Emerging challenges for Islamic investors in ESG investment

    In the rapidly evolving landscape of global finance, two distinct yet increasingly interconnected domains are emerging as pivotal forces for ethical investment: ESG investing and Islamic finance. While operating under different principles and frameworks, both...

  • Islamic finance in the US: A growing industry

    Islamic finance, also known as Shariah compliant finance, is a rapidly expanding sector that has gained significant traction in the US in recent decades. DR HUSAM YAGHI explores the principles of Islamic finance, its growth...

  • Risk management implementation in Indonesia’s Takaful industry

    The Takaful industry in Indonesia has grown in the last 10 years. As of December 2023, Takaful assets amounted to IDR44.31 trillion (US$2.9 million) with the composition of Shariah life insurance (55.71%), Shariah general insurance...

  • Pakistan’s sovereign Sukuk: A win-win for all

    Pakistan has been issuing sovereign Sukuk as part of its financing strategy, tapping into both domestic and international Islamic finance markets. More recently, the government of Pakistan offered a series of Sukuk to the public...

  • Shariah compliant transaction developments in the UAE

    The UAE is one of the oldest and most vibrant Shariah compliant financial markets in the world. Shariah compliant financings are widespread in the UAE, with a number of Islamic financial institutions active in the...

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Schools of thought: Madhhab — Part 2

    Going through Islamic history, I find it highly mysterious the often-tragic end of so many scholars, starting from the very beginning of Islam in the shape of As-Hab Al Suffa who were taken by the people pretending to be new Muslims to the two faraway places outside Medina with the permission of Prophet Muhammad on the pretext of learning Quran and Islamic teachings from them but were brutally killed as it turned out to be a trap. Such a massive loss of so many lives from As-Hab Al Suffa exposed the new Islamic society to a potential knowledge vacuum as...

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IFN Correspondent Reports

  • Significant Halal product deals in Malaysia

    The Halal Development Corporation (HDC), an agency under the Ministry of Investment, Trade, and Industry, has signed an MoU with Hong Leong Islamic Bank (HLISB). The MoU was signed by HDC CEO Hairol Ariffein Sahari, while HLISB was represented by its CEO, Dafinah Hilmi, witnessed by HDC Chairman Khairul Azwan H, HLISB Chairman Dr Md...

  • Takaful & re-Takaful (Africa)    

    Shariah law as regulatory requirement for Takaful undertakings (Part 1)

    Islamic finance and Takaful in Africa have been steadily growing in recent years, driven by a combination of factors, including a growing Muslim population, increasing interest in Islamic finance and the desire to diversify financial services. Africa is the world’s second-largest and most populous continent after Asia. With one billion people, it accounts for about...

  • Structured Finance  

    Islamic finance and capitalism are poles apart — capitalism means debt — really?

    Islamic finance is generally regarded as something which discourages debt and debt-based structured financing products because they involve the payment of interest, ie Riba. Is this specific to Islamic finance? If we look at the impact of debt on economies and the global financial sector, then it may help to understand whether Islamic finance is...

  • Türkiye  

    Steady progress toward 2025 strategic goals

    In 2023, a significant part of the forecasts for the global economy were pessimistic due to the ongoing Russian–Ukrainian crisis, energy supply scenarios, the inability to stop the inflationary environment and the tightening financial conditions. However, economic activity both in Turkiye and  the world has taken a stronger-than-expected path. Turkiye entered into an important period...

  • Risk Management  

    AI tools help to manage risk and compliance

    Generative artificial intelligence (gen AI) is a leap forward in AI. The tools that are emerging with this growing technology have been enabling the management of the domain of risk and compliance in many ways. This technology is now changing how banking activities operate, including how Islamic and conventional financial institutions manage risks and stay...

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