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Latest News - Thursday, 23 September 2021

Daily Cover Story: APICORP unveils Green Bond Framework lending strength to potential transition Sukuk offering

SAUDI ARABIA: Less than a week since it revealed its potential transition Sukuk plan, the Arab Petroleum Investment Corporation (APICORP) has launched its inaugural Green Bond Framework which will guide the financial institution in raising green Sukuk and bonds. “The...

This Week’s Newsletter

Cover Story: Egypt gets ready to enter the international Sukuk market

Last week we discussed Nigeria’s nascent Sukuk market, and this week we turn our eyes to its northerly neighbor, Egypt. It has been a long time coming, but this summer has finally seen momentum build...

Editor's Note

Long-anticipated Egyptian move

We continue our tour around Africa this week with a discussion on Egypt. The North African nation has been working on a sovereign Sukuk issuance for years with some even casting doubts over the possibility...

IFN Case Study

Purple Group’s Sukuk: Tapping the Islamic market

Nigeria-based real estate investment firm Purple Group has turned to the Islamic financial market as a source for alternative funding and issued its debut Sukuk worth NGN5 billion (US$12.13 million) — the first in a...

IFN Sovereign Securities

Sovereign Securities: Pakistan eyes international dollar Sukuk

Pakistan is looking at issuing international Sukuk while regular issuers sustained momentum. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the week. Indonesia The Indonesian government was...

IFN Country Analysis

The UAE: A major player

The UAE boasts vibrant financial centers and strong ties with the big players of the global Islamic finance and banking industry, confirming its potential and commitment to becoming a hub for Shariah compliant financial products...

IFN Sector Analysis

Gold: Islamic investments support stronger growth in gold

Since the release of AAOIFI’s standard on gold, it has provided Islamic investors the opportunity to tap the gold market with products such as gold-backed Sukuk, gold funds and exchange-traded funds (ETFs). JEVITHA MUTHUSAMY writes....


IFN Monthly Review

September

From groundbreaking Sukuk offerings to landmark Islamic fintech acquisitions and growth, to a flurry of Islamic fund launches and significant regulations unfolding, August has been quite the month for Islamic finance. The IFN Monthly Review...

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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Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Shariah condition for commencement of trading in Sukuk

    After having explained the asset classes of the AAOIFI Shariah standard’s definition on Sukuk in the last article, it is important for me to explain its last part which reads as: “However, this is true after the receipt of the value of Sukuk, the closing of subscription and the employment of funds received for the purpose of which the Sukuk were issued”. Let me try to explain the aforementioned through the Sukuk subscription, allotment and deployment cycle which equally applies to a listed or a privately placed Sukuk. The listed Sukuk is the one which is registered at a bourse...

IFN Correspondent Reports

  • China & Hong Kong

    The latest opportunity for Hong Kong green Sukuk

    The Climate Bonds Initiative recently released the 2020 Hong Kong Green Bond Market Briefing report. According to the briefing report, the number of green bonds issued by Hong Kong issuers last year hit a record high, but the total amount of green bonds issued was US$2.09 billion, a year-on-year decrease of 18%. However, the total...

  • Leasing

    Islamic leasing and banking worth trillions

    The volume of the Islamic banking and leasing industry across the globe was over US$2.7 trillion in 2020. That is the big takeaway from a recent report where Egypt accounted for US$22 billion of global Islamic banking that was mentioned during the first Arab forum on Sukuk held recently that was attended by representatives from...

  • Education

    Are Islamic finance training programs to be or not to be?

    Islamic economics and finance (IEF) is a field with an increasing number of certification programs and training opportunities. This is owing to the multidisciplinary character of the sector, which requires expertise in finance, economics, Shariah, law and data science. As a result, a variety of international, governmental and non-governmental organizations organize and provide training. Recently,...

  • Bangladesh

    NRB Bank adds new feather to cap through Islamic banking window

    NRB Bank of Bangladesh has added another feather to its cap by inaugurating a Shariah-based banking solution through a new Islamic banking window. As part of the regular modernization, the bank is committed to offer state-of-the-art banking services with uncompromising Shariah adherence. NRB Bank will be the catalyst in harnessing Shariah-based financial needs from a...

  • Offshore Financial Centers

    Luxembourg : A global hub for Islamic finance

    The Grand Duchy of Luxembourg benefits from a long history in Islamic finance when in 1978 Luxembourg became the first country in Europe to license an Islamic financial institution. Since then, all required legal, tax and regulatory structures have been put in place to enable Luxembourg to become a major European hub for Islamic finance...


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