SAUDI ARABIA: IsDB concludes 18th Global Islamic Finance Forum
GLOBAL: ITFC and Saudi EXIM Bank sign agreement for line of financing of US$25 million to Banque du Caire
GLOBAL: Islamic Corporation for the Development of the Private Sector signs 11 agreements with stakeholders
GLOBAL: Islamic Corporation for the Development of the Private Sector concludes annual meeting side events
KUWAIT: Boubyan Capital receives authorization to market shares of ninth Islamic leasing and finance fund in US Dollars
INDONESIA: Menara Soekarno Hatta registers Sukuk worth IDR1.5 billion (US$92,330.8)
MALAYSIA: Sabah Credit Corporation prints Sukuk worth RM100 million (US$20.95 million)
INDONESIA: Pandu Biosains floats Islamic paper worth IDR4.16 billion (US$256,169)
KUWAIT: Central Bank of Kuwait issues bonds and related Tawarruq facilities valued at KWD200 million (US$647.73 million)
BAHRAIN: Central Bank of Bahrain’s monthly Sukuk Ijarah issue receives BHD67.14 million (US$176.99 million) in subscriptions
MALAYSIA: Bank Negara Malaysia issues Islamic facility worth RM17.56 billion (US$3.68 billion)
MALAYSIA: APM Automotive Holdings launches Islamic papers worth RM200 million (US$41.9 million) in total
INDONESIA: Cam Property Sejahtera lodges Sukuk worth IDR504.5 million (US$31,053.9) on Indonesia Central Securities Depository
KUWAIT: Kuwait Finance House reports net profit for shareholders of KWD162.8 million (US$527.12 million) for Q1 2024
SAUDI ARABIA: Nama Chemicals Company secures Shariah compliant financing worth up to US$45 million with AIS Company
SAUDI ARABIA: Middle East Specialized Cables secures Shariah compliant credit facilities worth SAR100 million (US$26.65 million)
UAE: Emirates Islamic launches fractional Sukuk product for customers
PAKISTAN: State Bank of Pakistan’s Shariah compliant liquidity injection sees PKR339.9 billion (US$1.22 billion) offered and accepted
BANGLADESH:Bangladesh Bank receives bid amounting to BDT2 billion (US$18.02million) for Islamic Banks Liquidity Facility
MAURITANIA: IsDB Institute signs Islamic finance technical assistance agreement with Central Bank of Mauritania
KUWAIT: Warba Bank appoints Dr Issa Jassim Al Qassar as executive manager of Shariah Development Studies and Research Unit
UAE: SHUAA Capital appoints Badr Al Olama as chairman of board of directors
MALAYSIA: SkyWorld Capital sells Islamic commercial paper worth RM50 million (US$10.48 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM15.27 billion (US$3.2 billion) in total
SAUDI ARABIA: KASB Capital Group changes name to Value Capital Company
UK: Nomo Bank’s mortgage products are live on Iress’s broker software Xplan Mortgage and Trigold
BAHRAIN: Khalid Yousif Abdulrahman retires as board member of Bahrain Islamic Bank
MALAYSIA: YNH Property says technical default involving Sukuk program remedied, EdgeProp reports
MALAYSIA: Sunway Healthcare Treasury prints Islamic medium-term notes worth RM400 million (US$83.85 million) in total
MALAYSIA: Gabungan AQRS sells Islamic commercial paper worth RM5 million (US$1.05 million)
BANGLADESH: Bangladesh Bank’s Bangladesh Government Islami Investment Bonds auction receives total bids of BDT5.85 billion (US$52.75 million) in total
US: US District Judge Frederic Block sentences Halal Capital Founder Jebara Igbara to 84 months in prison for overlapping fraud schemes
UAE: Emirates Islamic records net profit of AED811 million (US$220.77 million) for Q1 2024
UAE: Dubai Islamic Bank records pre-tax net profit of AED1.85 billion (US$503.61 million) for Q1 2024
KUWAIT: Boubyan Bank’s net profit for Q1 2024 reaches KWD24.99 million (US$80.98 million)
MALAYSIA: Tabung Haji’s branch office relocates to Bandar Putra, Kulai, Johor
MALAYSIA: Malaysian Association of Asset Managers appoints Ismitz Matthew De Alwis as chairperson
SAUDI ARABIA: Rawabi Holding concludes Sukuk issuance worth SAR1.2 billion (US$319.74 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM18.52 billion (US$3.88 billion) in total
MALAYSIA: Capital Markets Malaysia seeks public feedback on sectoral guidance supplemental to Simplified ESG Disclosure Guide for SMEs
BANGLADESH: Bangladesh Bank receives bids amounting to BDT44.25 billion (US$398.96 million) for Islamic Banks Liquidity Facility
MALAYSIA: Sunway Treasury Sukuk sells Sukuk worth RM165 million (US$34.5 million) in total
UK: King & Spalding confirms support for IFN UK Forum 2024 as partner
QATAR: Dukhan Bank reports net profit of QAR423 million (US$115.13 million) for Q1 2024
UAE: Abu Dhabi Islamic Bank’s profit after Zakat and tax for Q1 2024 reaches AED1.45 billion (US$395.05 million)
UAE: Qardly launches Shariah compliant friends and family lending app
IRAN: Iranian government launches renewable energy certificates on Iran Energy Exchange
PAKISTAN: Securities and Exchange Commission of Pakistan and IFSB host workshop on Islamic capital markets
BAHRAIN: Bahrain Islamic Bank appoints Zaid Khalid Abdul Rahman as chairperson of board of directors
PAKISTAN: Pakistan Stock Exchange auctions government Sukuk with accepted competitive bids totaling PKR95.39 billion (US$341.79 million)
Uganda takes on Islamic banking with the launch of its first-ever fully-fledged Islamic bank, Oman’s newly established Financial Services Authority issued a legislation to encourage innovative Sukuk products and Canada announced it will be looking into easing its Muslim community’s...
Investment managers are chasing the Halal premium, but the road is riddled with hurdles. Islamic investors from across some of the most exciting Islamic financial markets share their assessment of the Shariah opportunity. VINEETA TAN...
The inaugural IFN Investor Middle East Forum gathered some of the leading Islamic investment managers from across the globe in Dubai. The discussions were fervent, engaging and illuminating. In this first series of the coverage,...
Turkish fully-fledged Islamic investment bank Golden Global Yatirim Bankasi launched its inaugural international Sukuk issuance: a EUR30 million (US$32.08 million) facility under its recently established US$200 million Sukuk program. NESSREEN TAMANO has the exclusive. "In...
This week, the Pakistani government auctioned its Sukuk Ijarah while regular issuers Malaysia, Bangladesh, The Gambia and Indonesia tapped the Sukuk market. HANIF NAMORA brings you updates from...
The past three years saw a surge in activity in the Egyptian Sukuk market, with the Republic welcoming the first Islamic issuance from its private sector and later launching its inaugural sovereign Sukuk facility, which...
Islamic cross-border financing is on the rise as businesses become more globalized and borders become more fluid. VINEETA TAN provides an overview of the sector. Overview Cross-border financing involves sourcing funds from outside the home...
Issuers in the GCC continue with the Sukuk trend, with notable launches from Abu Dhabi’s sovereign wealth fund and two Islamic banks in Saudi Arabia. In Tanzania, the capital market welcomed a landmark Sukuk issuance from the country’s education sector, while in Australia, the bank...
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.
This week, the Pakistani government auctioned its Sukuk Ijarah while regular issuers Malaysia, Bangladesh, The Gambia and Indonesia tapped the Sukuk market. HANIF NAMORA brings you updates from the global sovereign Islamic securities space. Pakistan...
Jazz, the trade name of Pakistan Mobile Communications and the country's largest mobile network and internet services provider, has tapped the Islamic capital market with a landmark issuance. NESSREEN TAMANO writes. The Islamic facility, worth...
The IsDB Group and its subsidiaries kicked off the 2024 IsDB Group Annual Meetings in Riyadh with agreements signed with member countries and strategic partners, to foster economic growth and development across vital sectors. NESSREEN...
Most of our winners do not arrive at the top of the list as the keystone of a national program. The IFN Overall Deal of the Year was structured under the leadership of the UAE’s...
The Indonesian province of West Java has affirmed its commitment to promoting a Shariah economy with the establishment of a dedicated Sharia Economic and Financial Regional Committee, or Komite Daerah Ekonomi dan Keuangan Syariah (KDEKS)....
Vennre, a digital platform specializing in selected private market investments and headquartered in the UK, has affirmed its commitment to ethical and Islamic financial principles with its latest move: enlisting Shariyah Review Bureau (SRB) as...
This week, the Pakistani government announced its upcoming Sukuk auctions while the Saudi government opened the third round of its Sah savings Sukuk. Regular issuers Malaysia, The Gambia, Kuwait, Qatar and Turkiye issued new Islamic...
Takaful Oman, one of only two fully-fledged Islamic insurers in the Sultanate, has plans to expand its offerings within the next couple of years, CEO Neelmani Bhardwaj tells NESSREEN TAMANO. The company aims to introduce...
A consortium of 10 multilateral development banks (MDBs), including the IsDB, met to outline the key deliverables for a joint and coordinated action in 2024 that will increase the impact and scale of their work...
The Islamic Development Bank Group (IsDB) has many important tools to support its member countries achieve their development goals. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), The Islamic Corporation for...
Islamic exchange-traded funds (ETFs) have been growing at a fast pace over the past five years. In 2018, seven funds held US$326 million in assets under management (AuM), which exponentially accelerated to 29 funds with...
In the dynamic landscape of Islamic finance, where tradition intersects with innovation, the concept of human capital emerges as a vital catalyst for success. As the senior partner of a leading law firm in Malaysia...
The Republic Act No 11054, known as the Bangsamoro Organic Law, established the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), a political entity that recognizes the justness and legitimacy of the cause of the Bangsamoro...
Islamic finance is a rapidly growing sector within the global financial landscape, aiming to provide financial products and services that comply with Islamic law, known as Shariah. One significant area of Islamic finance is Islamic...
Islamic banking has experienced significant growth in Oman in recent years at a constant growth rate of 12%-plus, reflecting the increasing popularity and acceptance of Islamic finance in the country. Oman, like many other countries...
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...
The Securities Commission Malaysia (SC) recently released its 2023 annual report last month, giving insights into the performance of and initiatives taken in the capital market. Some of the highlights on the Islamic capital market (ICM) include: Sustained and stable growth of the ICM, remains significant in the overall capital market The ICM grew 4.5%...
Nature never forgets its genes’ programming and reverts to it in essence and practice. It is like an intelligent material that regains its original shape. Anything that sticks to its core lives longer, and is durable and sustainable. Business and economics are not an exception. Not just of old times but even the financial management...
Since October 2023, the current geopolitical situation in the Middle East has been escalating to a greater extent with the recent action from Iran which is almost nearing toward a regional war. The Bank of England in its recent outlook highlighted that risk outlook conditions remain challenging. It is important to note that 43% of...
Since Kazakhstan obtained its independence in 1991, Kazakhstan has witnessed only one attempt to establish Islamic insurance on its soil. In 2010, the first Takaful operator had been established in the form of a mutual insurance society named MIS Akniet, which was later renamed MIS Takaful. At the time, MIS Takaful offered various Takaful products,...
Mackenzie Investments has expanded its portfolio offerings with the introduction of the Mackenzie Shariah Global Equity Fund, a new investment vehicle designed to comply with Islamic financial principles. This fund specifically caters to investors seeking to align their investments with their religious and ethical beliefs. The fund is rigorously certified and regularly reviewed by Ratings...
The aviation industry is one of the leading sectors with high growth including in technology, infrastructure development, innovation, globalization contributions and strengthening the economy. The global aviation sector has impressive growth with diversification in its...
Australia, with its growing Muslim population, is witnessing a surge in interest for Islamic finance products and services. While the market is still nascent compared with established players in Southeast Asia, recent developments signal a...
This report is part of a series where DR MUHAMMAD ISSYAM ITAM delves into the challenges and implications associated with implementing Shariah Standard No 59 by AAOIFI (S59) in the global Sukuk market. It is...
Trade sanctions often work in mysterious ways. Generally, sanctions are penalties imposed by one country on another, to discourage the latter from acting aggressively or breaking international law. According to the BBC, there are more...
In June 2023, the United Nations Population Fund (UNFPA), Selangor Islamic University and Yayasan KUIS signed an MoU to begin their collaborative journey towards integrating Islamic finance to holistically address vital social issues such as...
Takaful Oman’s CEO Neelmani Bhardwaj shares insights into the burgeoning Islamic insurance sector of the Sultanate, as well as Takaful Oman’s expansion plans in the short and medium term, with IFN’s Nessreen Tamano in this podcast episode.
