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ISFI Events 2023

Latest News - Monday, 06 February 2023

Daily Cover Story: Islamic banks in Bangladesh get one more liquidity facility from the central bank to safeguard financial health

BANGLADESH: In a bid to assist liquidity management, Bangladesh Bank (BB) has introduced a new Shariah compliant financial instrument, the Mudarabah Liquidity Support (MLS), to safeguard the financial health of the Islamic banking system. Under the new instrument, Islamic banks...

This Week’s Newsletter

Cover Story: Islamic finance in Germany: Can digital start-ups succeed where traditional institutions have failed?

Despite housing the largest concentration of Muslims in Europe after France, Germany has found little success in Islamic finance. Pundits are quick to point out the reasons why Islamic finance has failed in Germany, but...

Editor's Note

Germany gearing up

Islamic finance in Germany has been slow to take off but good work is being done on the ground, which may put the industry on the right path. In this week’s cover story, we canvass...

IFN Case Study

Pomegranate Nigeria’s Sukuk: Supporting expansion

Third-party logistics firm Pomegranate Nigeria (PNL) has successfully raised NGN2.25 billion (US$4.88 million) through a Sukuk Ijarah issuance. NESSREEN TAMANO has the story. Proceeds from the privately placed Islamic facility, which carries a three-year tenor,...

IFN Sovereign Securities

Sovereign Securities: Saudi Arabia closes January 2023 Sukuk issuance

Saudi Arabia closed its January 2023 issuance worth SAR3.47 billion (US$922.98 million) under the government’s Saudi riyal-denominated Sukuk program, while Brunei priced its 107th issuance of its central...

IFN Country Analysis

Japan: Maintaining strong interest in Islamic finance

Despite having a small Muslim population (around 185,000, or 0.1% of the total population as of 2023 according to World Population Review), Japan continues to recognize the importance of Islamic finance and banking, on both...

IFN Sector Analysis

Mergers and acquisitions: Titans unite

2022 was marked by a slew of significant merger and acquisition (M&A) deals within the Islamic banking and Takaful industries, creating industry giants along the way. EMIR ZAINUL highlights the latest developments in M&A deals....

IFN Financial Innovation Report 2022

IFN Monthly Review

January

Algeria and Bangladesh have reaffirmed their commitment to strengthening their respective Sukuk markets, while Indonesia and Pakistan launched new guidelines to further support their Islamic finance and banking sectors. KCB Bank Tanzania launched a landmark Sukuk issuance while Labuan plans to debut Shariah compliant security...

IFN Awards

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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

    SDGs: Part 2

    The 17 SDGs initially emerged from the United Nations Development Programme (UNDP) conference on sustainable development in Brazil in 2012 and were finally approved and adopted in 2015 at the UN General Assembly by all 193 countries present at the time. The goals replaced the eight MDGs or Millennium Development Goals, which were launched by the UNDP in 2000 with the commitment from world leaders to fight poverty, hunger, disease, illiteracy, environmental degradation and discrimination against women in all parts of the world. The debate is on whether the MDGs were a failure or part success but an analysis I...

IFN Correspondent Reports

  • Private Equity & Venture Capital

    Shariah compliant actively managed certificates for Islamic investors

    Actively managed certificates (AMCs) have been around for a while — they became quite popular in Switzerland in the early 2000s. This investment instrument grew strong due to its cost and time efficiency, as well flexibility and application possibilities. Bank Julius Bar defines AMCs as “structured products offering participation in an underlying portfolio of assets”....

  • Australia

    Australian Islamic finance proceeding at full pace following COVID-19

    The Australian Islamic finance industry has been growing at a steady pace in recent years, with more and more investors looking for ways to align their financial goals with their moral and ethical values. Two of the most well-recognized and major financial companies offering Islamic finance products in Australia, Crescent Wealth and Hejaz Financial Services,...

  • Trading & Brokerage

    MENA region poised for growth in the trading and brokerage space

    2022 proved to be an action-packed year in terms of trading and brokerage endeavors and engagements in the Islamic world, and 2023 is poised to be an even greater success. The MENA region in particular seems set to continue in its outperformance of the global economy, with the IMF predicting GDP regional growth for the...

  • Canada  

    New Islamic finance offerings in Canada

    Eqraz is the newest kid on the block in the Canadian Islamic finance landscape where it is providing Shariah compliant retail financing based on Tawarruq. It has been an endeavor of four years and is a product which complies with the Canadian tax and disclosure regulations among many others as relayed by its CEO and...

  • Mergers & Acquisitions

    M&A momentum will continue in the GCC Takaful sector

    According to an S&P Global Ratings report, the GCC’s continued economic recovery from the COVID-19 pandemic would enhance Islamic insurers’ growth prospects in 2023. This recovery is being strengthened by higher hydrocarbon prices, rising activity in the non-oil sector and increased government spending on infrastructure projects. Additional mandatory coverage and generally higher insurance demand are...


IFN Special Reports

  • Bridging the gap between Islamic finance and blockchain

    Islamic finance and blockchain are two subsectors of the global financial ecosystem rarely discussed in tandem. That does not undermine their significance — on the contrary, blockchain and Islamic finance are regularly featured in the...

  • Restructuring issues in Shariah compliant financial products

    Financial product restructuring (FPR) is an action taken by an Islamic financial institution to significantly modify the financial and operational aspects of a product or financial instrument, usually when the business is facing financial pressures....

  • Ghana’s long journey to Islamic finance

    Islamic finance today has become a global growth phenomenon that no region or country can afford to ignore. According to the State of the Global Islamic Economy Report 2020/21, an annual industry report produced by...

  • Infaq’s role in revitalizing disaster management in Indonesia

    Zakat and Infaq are alternative solutions in alleviating poverty. In Indonesia, Infaq has been used in solving social problems related to education and poverty (Daroini, Ikhawan & Saputro, 2020; Ulya & Al-Azizah, 2021). Infaq means...

  • State Bank of Pakistan to continue with monetary tightening

    Although there is a strict prohibition against charging interest, a significant number of Islamic banks still rely on interest-based benchmarks like the Karachi Interbank Offered Rate (KIBOR) or the London Interbank Offered Rate as a...

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