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IFN Annual Guide 2022

Latest News - Thursday, 10 February 2022

Daily Cover Story: Islamic mutual funds have grown substantially, exceeding global fund growth rate, Fitch says

GLOBAL: Assets under management (AuM) of Islamic mutual funds have increased substantially, peaking at a total of around US$130 billion by the second quarter of 2021 before settling at around US$120 billion at the end of that year, Fitch Ratings...

This Week’s Newsletter

Cover Story: Islamic banks gradually return to market — and this time, they are going green

It is the start of a new year and, as always, that means the banks are coming back to market. We have seen a handful of capital raises in recent weeks in the GCC, as...

Editor's Note

Greener pastures

Green is good. And not only for the environment but it is also looking like it is good for business. We explore how the Islamic markets are adapting. In this issue, we also take a...

IFN Case Study

KAB Energy Power’s Sukuk: Funding green ventures

A wholly-owned subsidiary of Malaysian engineering company Kejuruteraan Asastera (KAB), KAB Energy Power (KABEP) has issued the first tranche of its multicurrency Sukuk Murabahah program worth RM500 million (US$119.56 million). NESSREEN TAMANO has the details....

IFN Sovereign Securities

Sovereign Securities: The usual suspects

Regular issuers from Malaysia, Bangladesh, Brunei and Kuwait sustained the momentum. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the week. Indonesia The Indonesian government was due...

IFN Country Analysis

Tanzania: Progress in the Islamic finance sector

The past year has been eventful for the United Republic of Tanzania’s Islamic finance and banking sector, with the capital market seeing its first-ever Sukuk issuance and the Shariah banking sector welcoming CRDB Bank’s Islamic...

IFN Sector Analysis

Standards and standardization: Exploring new regulations amid the pandemic

The COVID-19 pandemic offers an opportunity for more integrated and transformative growth with a higher degree of standardization. JEVITHA MUTHUSAMY brings you the latest developments in this sector. Overview The lack of standardization continues to...

The Royal Award For Islamic Finance

IFN Monthly Review

February

Rating agencies released mixed forecasts for the global Sukuk market; a flurry of Sukuk offerings hit the market; mergers and acquisitions came to fruition while new players and funds entered the space; blockchain start-ups moved...

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

    Incident which set the course right for Islamic capital market

    We are on the subject of Sukuk default scenarios and I am explaining all possible events which can be envisaged in the run-up to the Sukuk maturity date and where the originator or obligor may not be able to walk the tightrope and resultantly may put the transaction in jeopardy. I concluded the last article on the most important aspect of the Sukuk transaction which is the originator’s responsibility to pay the periodic profit or partial redemption (if that was agreed at the outset) or both on time and the risk of its failure to comply with it. Actually, the...

IFN Correspondent Reports

  • Oman

    Title to land in diminishing Musharakah products

    Diminishing Musharakah (DM) products are commonly offered by banks in Oman for medium to high value and medium- to long-term financing needs of both retail and corporate customers. One of the key areas in which DM products are used is real estate financing. DM products can be tailored and used for funding the acquisition of...

  • The Maldives

    Bank of Maldives appoints new director of Islamic banking

    The Bank of Maldives has announced the appointment of Hassan Kalaam as the new director of Islamic banking in a press release dated the 7th February 2022. Hassan is a licensed Shariah advisor with more than 10 years of experience in the financial services and banking industry. Since joining the bank in 2013, Hassan has...

  • Egypt  

    Hundred percent Egyptian-owned credit rating companies could soon evaluate Sukuk

    Egyptian Sukuk and conventional securities issuances are typically rated by one of the major international credit rating companies, such as Moody’s Investors Service, or Fitch Ratings. The Financial Regulatory Authority (FRA) previously prohibited the establishment of credit rating companies in Egypt unless an international credit rating agency held a minimum 10% ownership stake. Recently, the...

  • Italy

    The growing process of internationalization of modeFinance

    Italian company modeFinance, which specializes in financial consulting and evaluation of companies’ creditworthiness, plans to introduce solutions and know-how of Italian fintech on the digitization and automation of credit risk assessment to the global financial and banking world. Most clients of modeFinance are market players operating in various economic sectors such as insurance, banking, financial...

  • Iran  

    Implementation of Shariah supervision in Iran’s banking system

    The banking system in Iran is one of the unique frameworks where different services can be provided in compliance with Shariah principles. Riba-free banking law enacted in 1984 by the Islamic consultative assembly provides a Shariah compliant legal structure for banks in performing their business. Several contracts were introduced which allow the banks to take deposits from one...


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