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Latest News - Saturday, 02 December 2023

Daily Cover Story: IFN Monthly Review: November — Milestone sovereign issuances

The governments of Turkiye, Indonesia, South Africa and, most recently, the Philippines have all launched landmark sovereign Sukuk issuances this month. In the UAE, a group of Islamic finance infrastructure organizations were hosted by the central bank to launch an...

This Week’s Newsletter

Cover Story: Islamic arbitration: Could Malaysia lead the way?

The Asian International Arbitration Centre (AIAC), headquartered in Kuala Lumpur, is spearheading efforts to establish Shariah versions of standard contracts across different industries including construction in an ambitious move toward promoting Islamic arbitration. VINEETA TAN...

Editor's Note

Mediate and arbitrate

A regional arbitration center is working on introducing Shariah compliant standard building contracts in the hopes of kick-starting a series of similar projects to promote Islamic arbitration globally. We speak to the people behind the...

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IFN Case Study

The Philippines’s sovereign Sukuk: A successful debut

The Republic of the Philippines has tapped the Sukuk market for the first time, with its successful issuance of a US dollar-denominated Sukuk facility. NESSREEN TAMANO writes. Structured under the concepts of Ijarah and Wakalah...

IFN Sovereign Securities

Sovereign Securities: Philippines hires banks for upcoming Sukuk

The Philippine government has mandated banks for the issuance of its inaugural Sukuk, South Africa issued its first-ever rand-denominated sovereign Sukuk and Indonesia is looking into a green...

IFN Country Analysis

Luxembourg: Advocating Islamic finance

A known supporter of Islamic finance, international financial center Luxembourg has long been the domicile of choice for Shariah compliant funds and investment platforms, and a popular destination for Sukuk listings (through the Luxembourg Stock...

IFN Sector Analysis

Family offices: Shifting strategies amid uncertainty

Higher inflation and hawkish central bank policy are pushing family offices to revise their investment strategy with a significant proportion looking to move their money into fixed income. VINEETA TAN takes a look at how...

IFN Monthly Review


Some notable firsts in the global Sukuk market this month include Kenya’s debut Islamic paper from the corporate sector, and upcoming maiden issuances from the South African government and from Pakistan’s steel manufacturing sector. On the Islamic banking side, Uganda announced its first Shariah bank...

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

    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 Correspondent Reports

  • Real Estate

    Surfing in Saudi

    Noticeable by their near absence are announcements of new international real estate acquisitions by Middle Eastern investors. Judging by the headlines, the vast majority of new money for property purchases is staying in the region and particularly Saudi Arabia. Readers will be familiar with Saudi Arabia’s Vision 2030, and the mega projects that are part...

  • The UK

    COP and what it might mean

    The annual COP [United Nations Climate Change Conference] show moves to the Dubai Expo shortly and will no doubt throw up headlines before the event as well as whatever impact statements are made during and after. Of particular note and with a strong UK flavor are some of the activities around COP28 [2023 United Nations...

  • Takaful & re-Takaful (Africa)  

    Digital transformation strategies for Takaful operations in Africa (Part 1)

    Takaful undertakings continue their growth throughout the world. The concept of Takaful insurance tends to make the practice of insurance compatible with Shariah rules and principles which is appealing not only to the countries in Southeast Asia but also the African region. A Takaful undertaking is a win–win model of insurance where Takaful participants who...

  • Nigeria

    Nigeria: With four Islamic banks, the party is just beginning

    The saying by James Thurber goes: “Two is company, four is a party, three is a crowd. One is a wanderer.” Just a few weeks ago, Nigeria welcomed its fourth fully-fledged Islamic bank following the transformation of a previous Islamic banking window into a stand-alone enterprise. It has been a long road for the Islamic...

  • Risk Management

    IsDB, UNEP FI and CIBAFI enlighten Islamic financial institutions on climate-related risks and regulation

    Since the emergence of climate risk, many financial institutions including Islamic ones have been overwhelmed with a lot of new regulations being implemented, especially those aligned to the SDGs. In November 2023, the United Nations Environment Program Finance Initiative (UNEP FI), the IsDB and the General Council for Islamic Banks and Financial Institutions (CIBAFI) joined...

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