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Latest News - Friday, 23 July 2021

Daily Cover Story: IFN Weekly Round-up: 17th – 23rd July 2021

As the Muslim world celebrated Eid Al Adha, the Islamic finance industry welcomed notable developments including new leaders at major Islamic finance organizations including the IsDB; and industry stalwarts reaffirmed Islamic green commitments and formed new partnerships while a former...

This Week’s Newsletter

Cover Story: Iraq: Spreading its wings

As Iraq prepares for democratic elections in October, the country is looking to the future, hoping to throw off the yoke of violence and volatility it has suffered since the overthrow of Saddam Hussein back...

Editor's Note

Into Iraq

It seems that the world is in a state of flux with tectonic political shifts underway sending economic, social and financial tremors across the globe including in key Muslim jurisdictions. Iraq is one of the...


IFN Case Study

Exsim Capital Resources’s Sukuk: Fully subscribed

Exsim Development’s subsidiary Exsim Capital Resources has raised RM323 million (US$76.69 million) in a Sukuk issuance backed by future receivables from two of its residential development projects in Malaysia. NESSREEN TAMANO writes. The recent Sukuk...

IFN Sovereign Securities

Lucrative Islamic finance opportunity attracts yet another Uzbek bank

Another Uzbek bank is taking the Islamic route, jumping into the Shariah finance space through an Islamic banking window, bringing the number of Shariah banking aspirants in the...

IFN Country Analysis

Pakistan: A strong push for Islamic finance

Having the second-largest Muslim population in Asia after Indonesia, Pakistan is a key Islamic financial market in the region. NESSREEN TAMANO provides an overview of the developments in the Shariah finance industry of the country,...

IFN Sector Analysis

Financial technology: Fintech trends soar during pandemic

Blockchain, cryptocurrencies, crowdfunding as well as robo-advisors are changing the way Islamic finance has been operating in recent years. JEVITHA MUTHUSAMY brings you the latest developments in this sector. Background Financial technology or fintech is...


IFN Monthly Review

July

Despite a Sukuk default, the Sukuk market is brimming with positive developments including several dollar offerings from governments and corporates. June is also a month for Islamic digital banks, with new entities emerging in Saudi...

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.


IFN Reports

  • Maybank’s sustainable commitment bodes well for green Sukuk

    MALAYSIA: One of the largest names in Islamic banking will be scaling up its green and ethical Sukuk/bonds program as part of its RM50 billion (US$11.84 billion) multipronged sustainable finance strategy to anchor itself as...

  • Sovereign Securities: Regular issuers hit the market

    Regular issuances from Indonesia, Gambia, Malaysia and Kuwait and more received strong demand from investors. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the week. Turkey The Ministry of Treasury and Finance of Turkey...

  • Fund Focus: Shariah China A-Shares 100 ETF

    Value Partners Asset Management Malaysia, a wholly-owned subsidiary of Value Partners Group, has debuted the Shariah China A-Shares 100 ETF (exchange-traded fund) targeting high-risk investors. JEVITHA MUTHUSAMY has more. “Value Partners Malaysia considered multiple options...

  • PODCAST: Shariah banks welcome support in digital transformation

    The global Islamic banking industry has been on the digital transformation route since the Fourth Industrial Revolution began in earnest almost a decade ago, but the COVID-19 pandemic, the impact of which was felt by...

  • IFN Weekly Round-up: 10th – 16th July 2021

    An Islamic digital bank officially launches in the UK while a Middle Eastern Shariah virtual bank bids for licenses in Africa; another Uzbek lender will be launching an Islamic banking window; Oman prepares sustainable and...

IFN Features

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Elements of the investment agency agreement

    We are defining the essential elements of an investment agency agreement. Continuing from the last article, the parties can sign a conditional investment agency agreement which means the agency effect shall come into play only upon the fulfillment of certain pre-specified conditions either by the Muwakeel or Wakeel, or both. For example, if the Wakeel (agent) is required to pledge a certain asset in favor of the Muwakeel (principal) as surety for its due performance, the investment agency shall come alive only after the completion of the pledge. The condition from the Wakeel could be the delivery of the entire...

IFN Correspondent Reports

  • China & Hong Kong

    What next for Hong Kong after three Sukuk issuances?

    The Financial Services and the Treasury Bureau (FSTB) of the government of the Hong Kong Special Administrative Region (HKSAR) of the People's Republic of China made the last amendments to profits tax and stamp duty regulations in 2013 and 2014 catering to Sukuk as well as issuances of three tranches of US dollar-denominated Sukuk in...

  • Halal Industry

    The importance of Halal science research

    The Halal industry is currently one of the expanding consumer segments experiencing an increase both in terms of development and market. The Global Islamic Finance Report in 2020 stated that the world's 1.8 billion Muslim population has a need for the Halal industry of up to US$2.3 trillion. In addition, consumer ethics with universal values...

  • The UAE

    Sizzling activity in the UAE capital markets

    Despite the heat and lull of the summer season, June turned out to be a stellar month for the UAE capital markets. The Abu Dhabi Exchange (ADX) saw its first major IPO in over two years. Last month, Mubadala Investment Company’s Al Yah Satellite Communications (Yahsat) raised over AED2.68 billion (US$729.49 million) via a Shariah...

  • Microfinance

    Islamic agri-financing: Opportunities for Udhiyya?

    Agricultural finance, or agrifinance, is a model that assists vulnerable and rural smallholder farmers to reduce risk and increase investment in their farms, leading to increased yields and higher income. Smallholders are predominant in many frontier and emerging markets, making them a vital part of food supply chains. Therefore, supporting small-scale agriculture can help reduce...

  • Oman

    Bolstering the Omani health Takaful regulatory framework

    The Omani Takaful sector has been rapidly growing since the passing of the Takaful Law in 2016. According to the annual report of the Capital Market Authority (CMA) of Oman for 2019, the gross direct Takaful premiums increased to OMR64.17 million (US$166.21 million) in 2019 compared with OMR53.58 million (US$138.78 million) in 2018, which represents...


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