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Latest News - Thursday, 04 March 2021

Daily Cover Story: Malaysia pioneers regulatory best practice for ESG and sustainable finance

Today marks the launch of a unique and pioneering deep dive into the complexities of how best to support environmental, social and governance (ESG) and sustainable finance from a regulatory and legislative perspective — a comprehensive new initiative from Capital...

This Week’s Newsletter

Cover Story: Saudi sets the bar: Will Islamic finance be affected?

Saudi Arabia recently introduced a sweeping new package of social and economic reforms, setting the Kingdom firmly on the path toward a codified legal system. One of the most notable is the requirement, from 2024,...

Editor's Note

Saudi sunset

The sweeping reforms of Saudi Arabia include the mandatory requirement for international firms to locate their regional headquarters in Saudi if they want to do business in the Kingdom. In this week’s cover story, we...


IFN Case Study

Bidaya Home Finance’s Sukuk: A strong follow-up

Saudi mortgage finance company Bidaya Home Finance has issued the second tranche under its SAR1 billion (US$266.28 million) Sukuk program, which it had pioneered in December 2019 as the only one of its kind offered...

IFN Sovereign Securities

Sovereign Securities: South Africa plans Sukuk

South Africa plans to issue Sukuk to diversify its debt portfolio while Indonesia offers retail Sukuk series SR014. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the...

IFN Country Analysis

Russia: Fostering relations with the Middle East

Islamic finance and banking has a large potential market in Russia which, according to World Population Review, has an estimated total population of 146 million in 2019, 6.5% of which is Muslim. However, progress has...

IFN Sector Analysis

Aviation and marine financing: Pandemic transforms industries

The onset and spread of the COVID-19 pandemic has brought about a dramatic fall in the performance of the aviation and maritime sectors as both saw a scarcity in the deals closed in 2020. JEVITHA...


IFN Monthly Review

February

The pandemic may not be over yet but 2021 is off to a good start with encouraging developments across the industry. The Sukuk market is looking up; mergers and acquisitions are moving ahead in both...

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

    Agency can be of different kinds

    I am currently explaining investment agency or Wakalah Bi Istithmar and we are at the third article on the subject. After discussing the definition and parameters of Wakalah, in the last article I explained the difference between revocable and irrevocable Wakalah. The act of entrusting Wakalah by a person to another is not something trivial or ordinary. To be appointed as the Wakeel should be considered an honor. This is because Almighty God elevated the credibility of a person to the extent that he or she may now be considered to be appointed as the Wakeel. Such a blessing must...

IFN Correspondent Reports

  • Palestine

    Demand for Islamic microfinance investment in Palestine

    Islamic microfinance can play a vital role in advancing the socioeconomic development of the poor and small entrepreneurs. The ethical attributes of Islamic microfinance can motivate microentrepreneurs. Therefore, it is important to develop a suitable model of Islamic microfinance, which will respect the political, social and religious sentiment of a particular country like Palestine and...

  • Indonesia

    Will Bank Syariah Indonesia be a game-changer for the Islamic finance industry?

    Since the beginning of February 2021, Bank Syariah Indonesia (BSI), the merged bank of three state-owned Islamic banks, has been legally established in Indonesia. The BSI became the biggest Islamic bank and is included in the 10 largest banks in terms of assets in Indonesia. In the last five years, the development of the Indonesian...

  • The UAE

    The UAE at the forefront of innovations in Islamic finance

    The COVID-19 related decline in economic activity has hit hard at most banks around the world. The Shariah compliant banks in the UAE are no exception and their recent result announcements reflect a bleak picture. All of them reported a substantial decline in profits and some even losses. Dubai Islamic Bank reported a 38% decline...

  • Structured Finance

    International cultural diversity seeds innovations in global structured finance

    The culture of a community has a strong influence on its economic activities and financial architecture since the early ages of human history. From this perspective, every community in the history and even in today’s modern world has contributed to the development of new ideas and many of those structured solutions later on took the...

  • Canada

    The need for a Sukuk issuance in Canada

    In 2020, Sukuk issuance was more than US$170 billion and total worldwide Sukuk issuance crossed the US$1 trillion mark since the first Sukuk issuance in 1996. Most of the experts predict continuity in the uptrend of Sukuk issuance in 2021 with two-digit growth. This is especially since governments and private lenders are in need of...


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