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Latest News - Friday, 18 June 2021

Daily Cover Story: IFN Weekly Roundup: 12th – 18th June 2021

There were landmark Sukuk offerings this week across the board from sovereigns such as Turkey, corporates like Saudi’s ACWA and banks such as Dubai Islamic Bank and Ahli United Bank. New fintech initiatives unfolded while new regulations were revealed and...

This Week’s Newsletter

Cover Story: Is Standard 59 strangling Sukuk issuance?

The UAE has barely seen a trickle of Sukuk issuance in 2021, and what there is has been primarily Tier 1 capital issuance. There are rumblings in the market that the bottleneck is all because...

Editor's Note

The AAOIFI effect

Rules matter. And they could either facilitate or stifle one’s growth. It is the same in Islamic finance. In a two-part special, we are exploring how global Islamic finance standard-setting body AAOIFI’s Shariah Standard 59...


IFN Case Study

Ahli United Bank’s Sukuk: A successful return

Kuwait’s Ahli United Bank (AUB) has made a return to the international Islamic capital market with a US$600 million Sukuk issuance — almost five years since its US$200 million Islamic paper issued in 2016. NESSREEN...

IFN Sovereign Securities

Sovereign Securities: Islamic markets enter dollar Sukuk market

Oman taps the dollar Sukuk market while Turkey prepares its international offering as Indonesia lists its successful US$3 billion Sukuk for trade. JEVITHA MUTHUSAMY rounds up Shariah sovereign...

IFN Country Analysis

Kenya: Slow but steady

As one of Africa’s Islamic finance pioneers, Kenya has had a head start over its neighbors, but the past few years have been quiet for the country’s Shariah industry. NESSREEN TAMANO writes an overview of...

IFN Sector Analysis

Law and legal frameworks: Evolving regulatory landscape

The Islamic banking sector, particularly emerging Islamic finance markets, benefits from legal frameworks established by regulators, making it an essential pillar of the Islamic finance industry. JEVITHA MUTHUSAMY rounds up the latest developments in the...


IFN Monthly Review

June

With the Muslim world celebrating Eid in the month of May, Islamic financial institutions, corporates and governments ramped up activities, tapping Sukuk, launching new products and issuing new regulations. IFN reviews the top Islamic finance...

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

    Live example of an agent’s negligence and its consequences

    As I concluded the last article on the agent requiring the goods to be inspected by an independent survey firm as its responsibility, I somehow knew the question which will be raised. And it is about the extra cost for such examination. The question did arrive in my email. It was also stated that at times such third-party inspection may pave the way for corruption, citing a particular country where all imports were made conditional upon such inspection some time ago with a certain fee-sharing arrangement between the company and the ruling elite. Well, this was a one-off incident and...

IFN Correspondent Reports

  • China & Hong Kong

    An update on the changes in Hong Kong Islamic index fund

    As illustrated in my previous report ‘Introduction and status quo of Hong Kong Islamic index fund’ in IFN Volume 18 Issue 04 published on the 27th January 2021, we understand that the Hang Seng Islamic China Index Fund is the first Securities and Futures Commission-authorized Islamic fund in Hong Kong. The fund tracks the Dow...

  • Qatar

    Partnerships and growth in Qatar

    The Qatar Financial Centre (QFC) is seeking to strengthen trade and business relationships between Russia and Qatar, particularly in the digital, sports, media and financial services sectors. The QFC was part of the Qatari delegation participating in the 24th St Petersburg International Economic Forum (SPIEF), which included over 50 Qatari public and private entities. The...

  • Bangladesh

    Bangladesh: Thrust for Islamic banks for sending foreign remittance

    Foreign remittance inflow through the country's Islamic banks last year marked a 46% year-on-year growth even amid the COVID-19 pandemic. According to Bangladesh Bank, the central bank of the country, expatriates are more interested in sending remittances through Islamic banks than the conventional ones. In 2019, Islamic banks posted a 12% year-on-year growth in remittances....

  • The Philippines

    Liquidity risk management guidelines for Islamic banking

    The Bangko Sentral ng Pilipinas (BSP) recently issued Circular No 1116 setting forth the following four basic guidelines on the management of liquidity risk by Islamic banks and Islamic banking units of conventional banks. Firstly, Islamic banks and Islamic banking units are to consider the specific liquidity characteristics of Shariah compliant instruments that will be...

  • Turkey

    Sustainable development and participation finance in Turkey

    In 2020, participation banks continued to provide financing in line with the needs and demands of SMEs in particular, with the policies aiming to achieve sustainable growth and sound expansion of the Turkish economy. The total SME financing volume of participation banks increased by 79.75% from TRY39.5 billion (US$4.64 billion) in 2019 to TRY71 billion...


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