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Latest News - Friday, 19 April 2024

Daily Cover Story: Pakistan welcomes first digital Family Takaful operator registered with regulator

PAKISTAN: The Securities and Exchange Commission of Pakistan (SECP) has announced the first digital Family Takaful operator registered with the country's regulator. Salaam Family Takaful, the family insurance arm of Islamic insurer Salaam Takaful, which itself has previously announced its...

This Week’s Newsletter

Cover Story: A tired tune: Shariah banking liquidity woes persist

More than half a century since the first modern Islamic bank took shape, Islamic banks today still struggle with managing their short-term liquidity in the absence of permissible tools, due largely to a lack of...

Editor's Note

Looking at liquidity

What Islamic banks in Bangladesh have been experiencing when it comes to maintaining a healthy current account balance is a prime example of how Shariah banking providers are at an extreme disadvantage as far as...

IFN Annual Guide 2024

IFN Case Study

KLCCP’s Sukuk: Funding acquisitions and investments

Malaysian property investment company KLCC Property Holdings (KLCCP) successfully launched the first issuance under its newly established Sukuk Wakalah program. NESSREEN TAMANO reports. The company's Islamic medium-term notes issuance amounted to an aggregate of RM1.95...

IFN Sovereign Securities

Sovereign Securities: Indonesia to auction Sukuk

This week, the Indonesian government announced its upcoming state Shariah securities auction while regular issuers Malaysia, Bahrain, The Gambia, Pakistan and Turkiye issued new Islamic facilities. HANIF NAMORA...

Moody's Ratings

IFN Country Analysis

Bangladesh: Stronger support for Islamic finance

There has been a substantial increase in the support for the Bangladeshi Islamic finance and banking sector, both from the government side and from market players, in response to growing demand for Shariah products in...

IFN Sector Analysis

Asset management – institutional: Renewed interest

Islamic funds have had a slight boost as institutional investors strengthen their Islamic focus. VINEETA TAN brings an overview of the Shariah asset management on the institutional side. Overview It has been challenging in the...

IFN Monthly Review


The past month saw a spate of Sukuk issuances come out of the GCC, notably a landmark facility from the UAE’s real estate and property sector, Saudi Arabia’s first savings Sukuk issuance and the first perpetual Sukuk in the region. The Islamic asset management sector...

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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IFN Features

  • Unlocking the potential of Islamic digital banking in Indonesia

    The Islamic financial assets in Indonesia have shown significant positive development. According to the Islamic Finance Development Report in 2022, Indonesia secured the 7th position globally. This encouraging news is further reinforced by the increased...

  • The road ahead for Islamic finance in Australia: Opportunities for inclusion and growth

    No single week passes without receiving enquiries about Shariah compliant mortgages in Australia. The answer is too complicated to be detailed for non-specialized people in a situation similar to an elevator pitch. This article aims...

  • The Shariah perspective of Gold Account-i

    Nowadays, there is gaining awareness and popularity among the public on investment in gold. The existence of several platforms for investment in gold also facilitates the demand. To fulfill this demand, some Islamic banks have...

  • Cash Waqf-linked deposit

    In Islamic history, Zakat, Sadaqah, Waqf and Qard Hasan are demonstrated as redistributive tools of Islamic finance that can improve financial inclusion by reducing poverty. Therefore, Islamic finance and economics stakeholders are required to contribute...

  • Halal financing: A global perspective

    In today's interconnected world, the principles of Halal financing have emerged as a cornerstone of ethical and transparent financial practices. Halal is an Arabic word, which means permissible and technically, the word Halal is used...

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Schools of thought: Madhhab — Part 2

    Going through Islamic history, I find it highly mysterious the often-tragic end of so many scholars, starting from the very beginning of Islam in the shape of As-Hab Al Suffa who were taken by the people pretending to be new Muslims to the two faraway places outside Medina with the permission of Prophet Muhammad on the pretext of learning Quran and Islamic teachings from them but were brutally killed as it turned out to be a trap. Such a massive loss of so many lives from As-Hab Al Suffa exposed the new Islamic society to a potential knowledge vacuum as...

IFN Lawyers

IFN Correspondent Reports

  • The Maldives

    Eyecare Sukuk raises MVR26.07 million (US$1.68 million) for Hulhumale’ eye center development

    EyeCare’s parallel Sukuk Istisna facility has achieved significant success, raising 86% of its target amount, reaching MVR26.07 million (US$1.68 million). This Sukuk facility, priced at MVR1,000 (US$64.4) per unit, aims to support the development of an eye center with a parking facility at Hulhumale'. The issuance, classified as a debt offering, attracted considerable interest from...

  • The Philippines    

    Halal Expo Philippines

    The Department of Trade and Industry (DTI) will hold Halal Expo Philippines in November 2024 at the World Trade Center Metro Manila, in line with the DTI’s strategic advancement of the Halal industry in the Philippines. This is expected to generate up to PHP230 billion (US$4.05 billion) in investments and 120,000 jobs in the Philippines...

  • Private Equity & Venture Capital

    Islamic venture capital ≠ conventional venture capital + Fatwa

    There is no need to try to catch up with the Joneses, meaning to try to bring Islamic venture capital (VC) to the standards and the size of the conventional industry. Our financial system is based on the principles of Islam — so, it is and it must be different. Islam is based on many...

  • Pakistan  

    Sukuk in Pakistan successfully heading toward listing on PSX

    The government of Pakistan (GoP)’s first primary market auction of a one-year Sukuk Ijarah facility on the Pakistan Stock Exchange (PSX) in December last year was a great accomplishment. The successful issuance and listing of Pakistan’s first sovereign Sukuk on the PSX opened the door for the regular issuance of Shariah compliant instruments and provided...

  • Somalia  

    Combating corruption, bribery and upholding integrity in Islamic banking in Somalia

    Corruption and bribery have undermined the establishment of a strong government in Somalia for decades. According to the 2023 Corruption Perceptions Index reported by Transparency International, Somalia has consistently been ranked as the most corrupted nation out of 180 countries. These illicit practices have significant implications for the country's economic development, hindering investment opportunities, diverting...

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