IFN - Post-sanctions Iran: A force to be reckoned with

SAUDI ARABIA: 2P Perfect Presentation secures Islamic financing from Banque Saudi Fransi
TURKIYE: Turkiye Finans sells lease certificate
TURKIYE: Kuveyt Turk Katilim Bankasi sells Islamic facility
TURKIYE: Turkiye Emlak Katilim Bankasi prints Islamic lease certificate
SAUDI ARABIA: alrajhi bank’s net profit for Q1 2024 reaches SAR4.41 billion (US$1.17 billion)
QATAR: Qatar Central Bank auctions treasury bills and Sukuk
UZBEKISTAN: ICIEC, Agrobank and Standard Chartered to explore Islamic financing initiative
KUWAIT: Warba Bank secures regulatory approval to issue Sukuk
SAUDI ARABIA: BlackRock Saudi Arabia amends business profile
SAUDI ARABIA: Alinma Bank reports net profit of SAR1.31 billion (US$350.29 million) for Q1 2024
SAUDI ARABIA: IsDB Group concludes 49^th annual meetings
GLOBAL: IsDB Group Business Forum signs MoU with Federation of Saudi Chambers
GLOBAL: Lives & Livelihoods Fund receives funding from King Salman Humanitarian Aid and Relief Centre
KUWAIT: KFH Capital receives private marketing license to market 250,000 units of US KFH Capital Real Estate Fund 6
QATAR: Alkhaleej Takaful Insurance’s net profit of Q1 2024 reaches QAR27.03 million (US$7.35 million)
BANGLADESH: Bangladesh Bank receives bids amounting to BDT10.67 billion (US$95.96 million) for Islamic Banks Liquidity Facilities
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM22.26 billion (US$4.67 billion) in total
QATAR: Qatar Central Bank admits PayLater into regulatory sandbox
KUWAIT: Kuwait International Bank’s US$300 million perpetual Sukuk oversubscribed two times
UK: Shariah compliant payment app Musc-Pay to launch in UK in coming weeks, Hyphen reports
MALAYSIA: Kuantan Port sells Islamic medium-term note worth RM100 million (US$20.96 million)
LIBYA: Ministry of Finance of Libya and IsDB Group to establish development fund ‘Tamkeen’, The Libya Observer reports
GLOBAL: IsDB Group Business Forum partners with World Association of Investment Promotion Agencies to promote investment opportunities
GLOBAL: International Islamic Trade Finance Corporation signs strategic agreements and gives awards to partners during Private Sector Forum 2024
PAKISTAN: TPL REIT Management Company to launch IPO of TPL REIT Fund I on 2^nd and 3^rd May 2024
SENEGAL: IFN announces new correspondent for Senegal
SAUDI ARABIA: IsDB Group’s private sector institutions hold 12^th edition of Private Sector Forum
GLOBAL: IsDB Institute issues new book and annual report for 2023
GLOBAL: International Capital Market Association, IsDB and London Stock Exchange Group release guidance on sustainable Sukuk
MALAYSIA: Sunway Treasury issues Islamic paper worth RM50 million (US$10.48 million)
QATAR: QIIB records net profit of QAR335.19 million (US$91.07 million) for Q1 2024
SAUDI ARABIA: IsDB concludes 18^th Global Islamic Finance Forum
GLOBAL: ITFC and Saudi EXIM Bank sign agreement for line of financing of US$25 million to Banque du Caire
GLOBAL: Islamic Corporation for the Development of the Private Sector signs 11 agreements with stakeholders
GLOBAL: Islamic Corporation for the Development of the Private Sector concludes annual meeting side events
KUWAIT: Boubyan Capital receives authorization to market shares of ninth Islamic leasing and finance fund in US Dollars
INDONESIA: Menara Soekarno Hatta registers Sukuk worth IDR1.5 billion (US$92,330.8)
MALAYSIA: Sabah Credit Corporation prints Sukuk worth RM100 million (US$20.95 million)
INDONESIA: Pandu Biosains floats Islamic paper worth IDR4.16 billion (US$256,169)
KUWAIT: Central Bank of Kuwait issues bonds and related Tawarruq facilities valued at KWD200 million (US$647.73 million)
BAHRAIN: Central Bank of Bahrain’s monthly Sukuk Ijarah issue receives BHD67.14 million (US$176.99 million) in subscriptions
MALAYSIA: Bank Negara Malaysia issues Islamic facility worth RM17.56 billion (US$3.68 billion)
MALAYSIA: APM Automotive Holdings launches Islamic papers worth RM200 million (US$41.9 million) in total
INDONESIA: Cam Property Sejahtera lodges Sukuk worth IDR504.5 million (US$31,053.9) on Indonesia Central Securities Depository
KUWAIT: Kuwait Finance House reports net profit for shareholders of KWD162.8 million (US$527.12 million) for Q1 2024
SAUDI ARABIA: Nama Chemicals Company secures Shariah compliant financing worth up to US$45 million with AIS Company
SAUDI ARABIA: Middle East Specialized Cables secures Shariah compliant credit facilities worth SAR100 million (US$26.65 million)
UAE: Emirates Islamic launches fractional Sukuk product for customers
PAKISTAN: State Bank of Pakistan’s Shariah compliant liquidity injection sees PKR339.9 billion (US$1.22 billion) offered and accepted
BANGLADESH:Bangladesh Bank receives bid amounting to BDT2 billion (US$18.02million) for Islamic Banks Liquidity Facility

Post-sanctions Iran: A force to be reckoned with

Analyses
Islamic Finance news
18/05/2016
0

How has the termination of years of economic sanctions shaped the largest Islamic banking market in the world? VINEETA TAN takes a look. Legal and regulatory Under the 1983 law of Usury Free Banking, banks in Iran are not allowed to engage in transactions paying or receiving interest, making its entire financial system entirely Shariah compliant. Regulated by the Central Bank of Iran (CBI), the rules of the Shia Islamic financial system, however, allow the selling of debt at a....

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