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Latest News - Monday, 10 May 2021

Daily Cover Story: Stumbling block for Sparks Energy 1’s ASEAN Green SRI Sukuk as project faces delays due to COVID-19

MALAYSIA: COVID-19 and unfavorable weather have thrown a spanner in the works to Sparks Energy 1’s sustainable Sukuk plan as it faces setbacks in achieving the commercial operation date (COD) for its solar power plants. The delays to its 30...

This Week’s Newsletter

Cover Story: Gender-based finance: How can Islamic finance support women’s access to banking?

According to the latest World Bank figures, the world is losing US$172 trillion in wealth because of differences in lifetime earnings between women and men. It is a serious issue that could have transformative consequences...

Editor's Note

Who runs the world?

Women make up about half of the world’s population, yet they are severely underrepresented in politics, finance and even investments, among others. The income disparity between men and women is staggering: the World Bank estimates...


IFN Case Study

Inertia’s Islamic facility: Financing a new coastal city

Real estate developer Inertia Egypt closed an Islamic financing agreement worth EGP1.1 billion (US$70.11 million) from Banque Misr to finance the fourth phase of Jefaira, a fully integrated coastal city project. NESSREEN TAMANO has the...

IFN Sovereign Securities

Sovereign Securities: Maldives completes tap issuance

The Maldives reissued an existing Sukuk paper while regular issuances received strong demand from investors. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the week. Malaysia Bank...

IFN Country Analysis

Egypt: Islamic capital market makes great strides

After years of struggling to launch, Egypt’s Sukuk market has finally taken off with the issuance of the country’s first corporate Sukuk last year. NESSREEN TAMANO highlights other top developments in the North African nation’s...

IFN Sector Analysis

Cross-border financing: Picking up momentum amid pandemic

Islamic cross-border financing has seen growing activity from Islamic banks over the past 12 months, although data on Islamic cross-border deals is not widely accessible making it challenging to assess the sector. JEVITHA MUTHUSAMY writes....


IFN Monthly Review

May

The market is constantly moving: as the industry transitions away from the London Interbank Offered Rate (LIBOR), and embraces sustainability, we see Sukuk offerings mirroring such trends. Across the banking sector, capital markets and the...

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


IFN Features


Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Death, insanity or winding-up of principal or agent

    As humans or natural persons we are mortal. There is always a possibility (or rather certainty) that the principal or the agent, or both, may die in the middle of the validity of an agency contract. Another possibility is that either may lose the perfect capacity. By perfect capacity, Shariah means that both contracting natural persons are above 15 years of age and possess sound mind. You may refer to article 31 should you need to comprehend the definition in detail. As per English law, perfect capacity is attained at the age of 18 (revised down from 21 in 1969)...

IFN Correspondent Reports

  • Islamic Leasing

    Start-ups boost Islamic leasing

    Venture capital firm Wamda shared some good news about business in Islamic leasing in April while in March, start-ups in the UAE, Saudi Arabia and Egypt raised US$170 million. This figure boosted the total amount for the first quarter of 2021 to US$396 million across 125 different deals. The three countries continue to lead in...

  • Oman

    Oman: Possible transition to a more Shariah compliant banking system

    The growth of the Islamic banking industry in Oman over recent years has continued at a strong pace compared with its conventional counterpart. According to statements made by Fitch Ratings in March 2021, the Omani Islamic banking market grew by 9.5% in 2020, compared with the conventional financial institutions’ growth rate of only 2.1%. In...

  • Waqf

    The giving landscape and Waqf

    Waqf-based giving is a new pathway for people to distribute charity-focused wealth in a more sustainable manner for social impact. The difference with Waqf-based giving to a consumable charity is there is a goal set by the donor which is to have a sustainable impact regardless of whether the person is living or not. As...

  • Iran

    Mortgage right certificates for home financing in the Iranian capital market

    Enabling families which plan to purchase homes financially is a key policy in many financial systems. Providing a mortgage facility has a very important role in this regard. Through mortgage facilities, homebuyers will have more financial power to purchase a house. However, the monetary policies of the Central Bank of Iran have affected the mortgage...

  • China

    Closer Sino–UAE relation boosts Islamic finance: Guangdong approach

    In recent years, Sino–UAE cooperation in the financial field has been continuously strengthened. Currently, Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China and China Construction Bank have branches in the UAE while the National Bank of Abu Dhabi has set up a representative office in Shanghai. Policy financial institutions such...


IFN Special Reports

  • Can Sukuk match the growth trajectory of green bonds?

    As the socially responsible investing movement in fixed income began to take off a decade ago, a great deal of ink was spilled on the similarity of green bonds and Sukuk. Both products are explicitly...

  • Untapped opportunities of Islamic finance Down Under

    The Australian Trade Commission mentioned in a 2010 report that: “Islamic finance has considerable potential to become an important element in Australia’s aspirations to be a global financial services centre in the region. It has...

  • Germany’s Islamic finance market — a niche with great potential

    Islamic finance and classical western finance systems are much different; however, there are more and more ways that both work hand in hand together and Islamic finance principles are becoming increasingly popular for sustainable investments,...

  • The advantage of Islamic finance for SMEs

    The economic contributions made by SMEs to improve a country’s welfare are supported by the government. Nowadays, SMEs represent 96% of registered companies and approximately 50% of GDP and 65% of employment worldwide, therefore SMEs...

  • Insights on Islamic finance during Ramadan

    In the holy month of Ramadan, Muslims worldwide observe a time for dawn-to-sunset fasting, prayer, reflection and community. Typically, it is a quieter period as they spend time with family and loved ones. However, Islamic...

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