MALAYSIA: RAM reaffirms Jimah Energy Ventures’s RM4.85 billion (US$1.19 billion) senior Islamic medium-term note facility at ‘AA3/Stable’
MALAYSIA: Prudential BSN Takaful rolls out mobile app
PAKISTAN: BankIslami Pakistan’s Sukuk trading suspended to facilitate profit payment to Sukukholders
UAE: ENBD REIT sees net asset value contract by US$32 million at the end of September 2020 driven primarily by valuation pressure
BAHRAIN: Al Baraka Banking Group to convert wholesale Islamic banking license into Category 1 Islamic Investment Firm license; expects to finalize within six to 12 months
MALAYSIA: Securities Commission Malaysia updates list of Islamic securities; includes 39 and excludes 16, bringing total number to 715 or 79% of total listed companies
MALAYSIA: Urusharta Jamaah to pay Lembaga Tabung Haji RM500 million (US$122.69 million) to redeem Sukuk among others
PAKISTAN: Pakistani government to hire four financial institutions for Sukuk issuance
INDONESIA: Indonesia lists three sovereign Shariah securities totaling IDR10 trillion (US$706.57 million) on Indonesia Stock Exchange
MALAYSIA: Sime Darby Property revises Sukuk Musharakah program terms for potential issuance of ASEAN Sustainable and Responsible Investment Sukuk
SAUDI ARABIA: National Commercial Bank introduces Islamic gold account for retail customers
PALESTINE: International Finance Corporation to aid Palestinian Capital Market Authority in formulating Islamic finance roadmap
INDONESIA: Bank Syariah Mandiri rolls out digital gold trading feature
INDONESIA: Bank BRI Syariah partners with start-up Flip.id to enable interbank transfers
SAUDI ARABIA: Saudi Ministry of Finance closes November Sukuk offering worth SAR795 million (US$211.88 million)
SAUDI ARABIA: Sadara Chemical Company seeks approval to amend terms of SAR7.5 billion (US$2 billion) Sukuk as part of debt reprofiling
EGYPT: Sarwa Capital raises EGP2.5 billion (US$159.38 million) from seven-year Sukuk
GLOBAL: IFSB and Bahrain Institute of Banking and Finance renew MoU to jointly develop Islamic finance
MALAYSIA: Projek Lintasan Sungai Besi–Ulu Klang floats seven-year RM470 million (US$115.33 million) Islamic medium-term note
MALAYSIA: Bank Negara Malaysia sells two Islamic papers totaling RM15.73 billion (US$3.86 billion)
MALAYSIA: BGRB Venture issues one-year unrated Islamic medium-term note
MALAYSIA: FWD Takaful partners with UnBound Malaysia to develop augmented reality game to improve awareness of Takaful protection for students
MALAYSIA: Toyota Capital Malaysia maintains ‘AAA(s)/Stable/P1(s)’ ratings on conventional–Islamic bond program
MALAYSIA: MARC affirms Sunway Treasury Sukuk’s programs at ‘MARC-1IS(cg)/AA-IS(cg)’
UAE: Emirates REIT records net property income decrease of 6.4% year-on-year for third quarter of 2020
MALAYSIA: Zamarad Asset secures final ratings for fifth Sukuk offering under RM2 billion (US$489.01 million) program
SAUDI ARABIA: Moody’s upgrades Saudi Electricity Company’s rating to ‘A1’
MALAYSIA: ‘AA+IS’ for Sime Darby Property’s RM4.5 billion (US$1.1 billion) Sukuk Musharakah program
QATAR: Moody’s affirms Qatar Islamic Bank’s long-term deposit rating at ‘A1’ with a stable outlook
IRAN: Iranian Securities and Exchange Organization issues directive allowing listed companies to raise capital from equity premium
UAE: Central Bank of the UAE inaugurates CBUAE FinTech Office to drive fintech development
MALAYSIA: Bank Islam unveils Sadaqah-based microfinance facility for microentrepreneurs; expects to benefit over 200 individuals from initial allocation
SAUDI ARABIA: Allianz Saudi Fransi Cooperative Insurance Co to seek approval for board member replacement at general assembly meeting
SAUDI ARABIA: Abdullah Sulaiman Al Rajhi and Ibrahim Mohammed Al Romaih join Al Rajhi Bank’s board of directors as chairman and vice-chairman respectively
MALAYSIA: Sunway Treasury Sukuk floats RM175 million (US$42.79 million) Islamic commercial paper
EGYPT: Misr Capital to issue Sukuk and securitized debt instruments worth a total of over EGP7 billion (US$446.11 million)
UAE: Dubai Financial Services Authority admits Dubai Aerospace Enterprise’s US$750 million trust certificates to official list of securities
MALAYSIA: Bank Negara Malaysia prints Islamic liquidity management tools
KUWAIT: Capital Markets Authority renews KFH Capital Gulf Equity Fund’s license for three years
KUWAIT: Kuwait International Bank receives ‘A-’ rating for US$300 million Tier 2 Sukuk
JORDAN: Islamic Corporation for the Development of the Private Sector-funded Shobak Wind Farm begins commercial operation
BANGLADESH: Bangladesh Bank appoints new deputy governors
MALAYSIA: MARC assigns final rating of ‘A+IS’ with a stable outlook to Sunsuria’s RM500 million (US$122.2 million) Sukuk Wakalah program
SAUDI ARABIA: Saudi Central Bank licenses three payment companies, bringing number of licensed fintech entities to 11
BAHRAIN: Ithmaar Bank commissions cybersecurity firm CTM360 to provide cyber threat management
BANGLADESH: Reliance Finance rebrands into Aviva Finance
IRAN: Iranian Ministry of Economic Affairs and Finance concludes 26th bond auction
INDONESIA: Indonesia concludes Sukuk auction; cash Waqf-linked Sukuk series SWR001 records IDR14.91 billion (US$1.05 million) in sales
UK: Jade Merchant Bank acquires GBP29 million (US$38.69 million) asset in Dorset
SAUDI ARABIA: Saudi Reinsurance Co signs SAR177 million (US$47.17 million)-worth of contracts with Probitas Corporate Capital
The Islamic dollar is big business – but how can Halal firms make sure that their financing is as ethical as their output? IFN Halal Finance is a comprehensive resource providing Halal firms with the information they need on the Islamic financial markets and the choices therein.
IFN Halal Finance provides a direct channel of communication to corporates worldwide. From January 2020 IFN Halal Finance takes over from IFN Corporate
As the coronavirus pandemic sweeps the globe, healthcare is one of the few industries that have benefited from the current conditions — and the Halal pharmaceuticals sector is no exception. A recent report from Adroit Market Research projects the total...
Arab Company for Projects and Urban Development, a wholly-owned construction and real estate subsidiary of Egyptian holdings company Talaat Moustafa Group, on the 8th April issued a Sukuk facility worth EGP2 billion (US$126.78 million). The...
It has been fascinating to witness how the Halal industry has evolved over the past few years, as companies, organizations and even countries strategize to position themselves in this growing marketplace. DR SUTAN EMIR HIDAYAT,...
The global Islamic economy has gained an increasingly strong foothold in the world economy, driven by increasing Muslim consumer demand for dedicated products and services compliant with Islamic law that has developed the global subsectors...
Dubai, already a market leader in terms of Halal contribution, is seeking to cement its influence in 2020–21 with the development of a new global legislative code to enable authorities around the world to embed...
Malaysia’s central bank, Bank Negara Malaysia (BNM), has not only increased its SME financing fund by a further RM4 billion (US$937.7 million) to RM13.1 billion (US$3.1 billion), and offered SMEs access to credit guarantee schemes...
In a bid to boost its Halal export sector the UAE’s federal export credit company, Etihad Credit Insurance (ECI), has partnered with the Dubai Islamic Economy Development Centre (DIEDC) to provide a new range of...
Malaysia has led the way during the coronavirus crisis with a wide array of Shariah compliant funding packages to support its Halal production and manufacturing sector. The latest initiative comes in the form of a...
The Arab Brazilian Chamber of Commerce on the 10th June held a virtual meeting to discuss the significant potential for the manufacture and export of products for Muslim consumption — including opportunities in the tourism,...
Fully Halal Saudi-based fashion and food retailer Fawaz Abdulaziz Al Hokair Co, which has operations across 13 countries, in March secured a dual currency US$800 million refinancing package from a consortium of GCC banks to...
The coronavirus (COVID-19) epidemic is undeniably having a material impact on the global economy. At the time of writing, the total number of confirmed cases had risen to more than 90,000 and killed more than...