Latest News - Sunday, 20 August 2017

Daily Cover Story: IFN weekly market roundup: 12th – 18th August 2017

It was business as usual in the global Islamic finance landscape this week with several announcements in the Sukuk space and a slew of financial transactions occurring worldwide. Jordan is moving closer to its debut international Sukuk, the Standard Life Aberdeen merger was completed and a...

This Week’s Newsletter

Cover Story: A helping hand: The tricky business of restructuring debt

Dana Gas might be hitting the headlines for all the wrong reasons, but it is not the only corporate seeking to renegotiate its terms. This week, LAUREN MCAUGHTRY looks at the other side of the coin — and learns that when it comes to the crunch, a little courtesy...

Editor's Note

Virtue is its own reward

With Dana Gas dominating the headlines, it is easy to overlook the string of other corporates seeking to restructure their own Sukuk offerings. But the relative shorter column inches dedicated to these corporates is probably good news – it’s not mired in controversies like Dana Gas is – and...

Today's News Briefs

  • Maybank i-shares to have positive impact

    MALAYSIA: CIMB Equities Research is positive on Permodalan Nasional’s plan for Islamic shares (i-shares) in Maybank as it would unlock value for Maybank Islamic, The Star reported. CIMB Equities Research said that there would be an increase in demand...

  • Qatar tells banks to tap international investors

    QATAR: Qatar is telling its banks to raise financing by tapping international investors and is encouraging them to borrow internationally through bonds and loans instead of mainly relying on government funding, Bloomberg reported based on information from people familiar...

  • NBP chief pushes for Islamic finance in Balochistan

    PAKISTAN: Saeed Ahmad, the president and CEO of the National Bank of Pakistan (NBP) which is the country’s central bank, has affirmed during a visit to Balochistan that “the introduction of financing for SMEs, Islamic banking and other products...

  • UNB starts operations in Shanghai

    UAE: Union National Bank (UNB), which offers Shariah compliant solutions, has commenced operations from its new branch in Shanghai, China, according to a statement. The bank’s branch is located in the Shanghai World Financial Center. UNB is the first...

  • Samba Bank

    PAKISTAN: Javed Iqbal, a director of Samba Bank that offers Shariah compliant solutions, has resigned from his position, according to a bourse filing.

  • Bank of Tokyo-Mitsubishi UFJ

    SINGAPORE: Bank of Tokyo-Mitsubishi UFJ, which offers Shariah compliant solutions, has appointed Sanjiv Vohra as the co-head of corporate banking for Asia and Oceania, The Asset reported. He will join the bank on 4th September 2017 and will be...

  • PNB to enhance global Shariah banking

    MALAYSIA: Permodalan Nasional (PNB)’s group chairman, Wahid Omar, said in a speech that the organization is planning to appoint Shariah experts and develop Maqasid Syariah or an investment security framework, among others, to enhance Malaysia’s position as a center...

  • ADGM rolls out Foundations regime

    UAE: Abu Dhabi Global Market (ADGM) has established the UAE’s first Foundations regime in support of more effective structures to boost its wealth preservation and management services, according to a press release. The regime offers a platform for financial...

  • SABB to pay dividends today

    SAUDI ARABIA: Saudi British Bank, which provides Islamic finance and banking solutions, will be paying dividends to shareholders for the first half of 2017, with effect from today. According to a bourse filing, the bank has allocated SAR1.07 billion...

  • KEV’s Sukuk outlook upgraded

    MALAYSIA: MARC has revised the outlook on Kapar Energy Ventures (KEV)’s RM2 billion (US$464.14 million) Sukuk Ijarah from negative to stable and affirmed the rating at ‘AA+IS’. According to a press release, the outlook revision is on the back...


IN THIS WEEK’S ISSUE

Case Study

Public Islamic Bank’s Sukuk: Tapping the market after a three-year hiatus

Earlier this month, Malaysia-based Public Islamic Bank (PIB) floated its subordinated Sukuk after a gap of over three years. The paper, which is the second tranche under its Sukuk...

Sovereign Sukuk

Sovereign Sukuk: New issuer on the horizon

It has been a rather exciting week in the sovereign Sukuk space with Indonesia leading the retail sector and Algeria potentially making its debut in the Sukuk universe. MARC...

IFN Country Analysis

Morocco: Fast-tracking to success

2017 has so far been a year of promising material Islamic finance progress for Morocco, particularly in the banking sector. VINEETA TAN provides an overview. Regulatory environment Following the...

IFN Sector Analysis

Africa building up its ecosystem

As Islamic finance is gaining traction in Africa, many countries are introducing new regulations to set up an exhaustive Shariah compliant ecosystem. Other sovereigns like Malaysia, Saudi Arabia and...



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    Women in Islamic Finance

    • Women and Words: More jobs for the boys in iCSR?

      By Laura Elder, a cultural anthropologist who teaches in the Department of Global Studies at Saint Mary’s College in Notre Dame. Her primary research interests are global political economy,...


    IFN Columnists


    IFN Correspondent Reports

    • Hong Kong

      Hong Kong Sukuk: An excellent form of financing for green infrastructure projects worldwide

      Many countries like Malaysia, Singapore and those in Europe and the Americas are now looking into the context of green financing that involves some promising green initiatives and projects, both privately institutionalized or government aligned, particularly in the current niche position of green finance,...

    • Leasing

      The UK paves the way for Shariah compliant leases for vehicles

      Islam is the fastest-growing religion in the world. Statistics report that 5% of the UK population call themselves Muslims. These immigrants often have small businesses and lifestyles that require vehicles and loans for their businesses and homes. There’s a need for Shariah compliant leases...

    • The Philippines

      Updated list of Shariah compliant shares on the Philippine Stock Exchange

      The Philippine Stock Exchange (PSE) recently released an updated list of Shariah compliant securities through a memorandum to the investing public and all trading participants dated the 7th July 2017. This list is usually published by the PSE on its website (www.pse.com.ph) by the...

    • Real Estate

      Innovation in Islamic real estate investment: Is there any?

      I was recently asked in a Q&A session what innovations there are in the Islamic real estate investment world at the moment and I confess that I had to admit that I wasn’t aware of any. The global financial crisis started 10 years ago...

    • Morocco

      Morocco: The first players are already in the market

      By the 15th August 2017, the licenses granted to all of the eight players in the Islamic banking sector in Morocco should have already been published in the Official Journal of the Kingdom of Morocco. The contracts for opening a Shariah compliant current account...


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