BANGLADESH: Central bank issues facilities to aid Islamic banks manage liquidity
INDONESIA: Indonesian engineering firm raises funds through short-term Sukuk
OMAN: Islamic P2P financing platform integrates new payment solution allowing cross-border transactions
KUWAIT: Investment company receives approval to market Islamic real estate fund to Kuwaiti investors
SAUDI ARABIA: Islamic SME financier recommends 3.5% cash dividend for 2023
MALAYSIA: Malaysian conglomerate launches Islamic facility
MALAYSIA: Property developer prints ringgit Islamic commercial paper
MALAYSIA: Bank Negara Malaysia issues Islamic liquidity management facility
MALAYSIA: Port operator launches investment grade Sukuk offering
INDONESIA: Telecommunications and electronics procurement firm lodges Sukuk on Indonesia Central Securities Depository
TURKIYE: Turkish participation bank sells short-term Sukuk carrying 66% annual return
KUWAIT: Central Bank of Kuwait issues bonds and related Tawarruq facilities
INDONESIA: Fiber optic telecommunications company registers Sukuk on Indonesia Central Securities Depository
SAUDI ARABIA: Fintech start-up secures license to provide debt crowdfunding solutions
UK: XTCC launches Shariah compliant multicurrency carbon credits
MALAYSIA: Malaysian bank raises RM500 million (US$106.15 million) Sukuk to fund Tier 2 capital
PAKISTAN: MCB Islamic Bank partners with Techlogix to implement compliance screening solution
GAMBIA: Central Bank of The Gambia floats tenders for Sukuk Salam facilities
MALAYSIA: OCK Group auctions second tranche of Islamic medium-term note
PAKISTAN: Al Baraka Bank to open new branches in Pakistan, Bloomberg reports
GLOBAL: AAOIFI Public Interest Monitoring Consultative Committee holds 7th meeting
PAKISTAN: KalPay closes early-stage funding round
KUWAIT: Warba Bank receives license from Capital Markets Authority of Kuwait
SAUDI ARABIA: Zain signs vendor financing banking facility with alrajhi bank
GLOBAL: IsDB strengthens strategic partnership with Qatar
UK: British Business Bank offers Shariah compliant financing for entrepreneurs
MALAYSIA: Malaysia Building Society appoints new CFO, The Star reports
UAE: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum appoints new board members of Dubai Financial Services Authority
MALAYSIA: Bank Negara Malaysia issues Islamic facility
UAE: Ajman government’s ownership in Ajman Bank increases
GLOBAL: Malaysia continues to dominate Islamic banking in Asia Pacific, says S&P Global Ratings
PAKISTAN: U Microfinance Bank and Raqami form interoperable partnership
BANGLADESH: Bangladesh Bank offers Islamic Banks Liquidity Facility
BAHRAIN: Central Bank of Bahrain prints monthly Sukuk Ijarah
TURKIYE: Vakif Katilim auctions lease certificate
TURKIYE: Real estate developer Emlak Konut prints Islamic lease certificate
TURKIYE: Turkiye Emlak Katilim Bankasi sells short-term Islamic paper
SAUDI ARABIA: Sahara and Maaden Petrochemical Company refinances existing syndicated bank facility
GLOBAL: Namara aims to expand to Saudi Arabia and Egypt soon, The National reports
QATAR: Qatar Central Bank auctions treasury bills and Sukuk
PAKISTAN: Securities and Exchange Commission of Pakistan releases guide for Modaraba agreements
TURKIYE: Islamic Corporation for the Development of the Private Sector signs letter of intent with Golden Global Bank to extend line of financing
MALAYSIA: Bursa Carbon Exchange to begin offering Malaysian carbon credits soon
NIGERIA: Securities and Exchange Commission of Nigeria issues new rules on Sukuk issuance for private companies
MALAYSIA: Bank Negara Malaysia issues Islamic facilities
UAE: Emirates NBD Asset Management establishes first public fund in Dubai International Financial Centre
OMAN: Bank Nizwa signs agreement with Al-Dhaw Sustainability Energy
MALAYSIA: LBS Bina Holdings prints Islamic facilities
UAE: Dar Al Sharia certifies Chimera S&P UAE Shariah ETF’s transactions as Shariah compliant
BAHRAIN: GFH Financial Group announces ownership changes in two companies
GLOBAL: The United Nations Development Programme (UNDP) will be developing an Islamic sustainable financing platform in partnership with the first member of the Global Takaful Alliance as part of a joint effort to provide Shariah compliant risk protection and financing...
Digital innovation and sustainability — the two driving forces shaping the future of Islamic finance. What are the biggest themes and challenges surrounding these two, particularly within the context of asset management? Experts share their...
Tokenization is where the money is, and transition finance could be the poster child for Islamic ESG finance — these were what practitioners arrived at following lively debates at the successful IFN Investor Middle East...
Rawabi Holding Company, an oilfield and industrial services provider headquartered in Saudi Arabia, broke its own record with its latest fundraising effort through a Sukuk issuance. NESSREEN TAMANO writes. The company concluded its largest-ever Saudi...
This week, the Pakistani government announced its plan to issue green Sukuk this year. Regular issuers Malaysia, Bangladesh, The Gambia, Kuwait, Qatar and Turkiye launched Islamic papers. HANIF...
As a country that runs a fully Shariah compliant financial system in an official capacity, Iran is regarded as a major player in the global Islamic finance and banking industry. NESSREEN TAMANO writes an overview...
The poly-crisis of surging inflation, costly commodities, geopolitical upheavals and supply chain troubles adversely impacted global trade volumes including in OIC nations. However, things are looking up this year. VINEETA TAN reviews the sector. Overview...
Uganda takes on Islamic banking with the launch of its first-ever fully-fledged Islamic bank, Oman’s newly established Financial Services Authority issued a legislation to encourage innovative Sukuk products and Canada announced it will be looking into easing its Muslim community’s access to Halal mortgage financing....
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.
CAMEROON: Cameroon’s nascent Takaful sector may soon welcome a new player as a result of a partnership between an Islamic financial institution and a local insurer. Savana Islamic Finance, which was established in 2018 as...
This week, the Pakistani government announced its plan to issue green Sukuk this year. Regular issuers Malaysia, Bangladesh, The Gambia, Kuwait, Qatar and Turkiye launched Islamic papers. HANIF NAMORA brings you updates from the global...
A group of offices and organizations in the Philippines's Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have pledged their support for the Shariah compliant Women Empowerment Facility (WEF) that will provide Islamic microfinance solutions in...
It’s been a whirlwind of a week with new planned dollar Sukuk offerings from the IsDB Group, alrajhi bank and Warba Bank as well as a potential sovereign issuance from Syria. Sri Lanka caught our...
Saudi Islamic finance heavyweights have engaged banks to orchestrate their imminent return to the international Sukuk market, cementing the Kingdom’s lead as one of the most prolific Sukuk issuers. VINEETA TAN writes. The IsDB Group...
Abyan Capital, a Saudi financial services company providing Shariah compliant automated solutions and portfolio management for long-term investments, has raised funds through a Series A round. NESSREEN TAMANO reports. Led by STV alongside Saudi Aramco's...
This week, regular issuers Malaysia, Bahrain, Bangladesh, Indonesia, The Gambia, Kuwait and Qatar launched Islamic papers. HANIF NAMORA brings you updates from the global sovereign Islamic securities space. Malaysia Bank Negara Malaysia between the 30th...
The export and import market in Palestine has received support in the form of a trade finance line worth US$2 million extended to Arab Islamic Bank (AIB) by the European Bank for Reconstruction and Development...
Emirates Islamic (EI) has cemented its position as a leading global name in Shariah banking, having won the IFN Best Overall Islamic Bank award for 2023 as voted by the industry in the most competitive...
The Southeast African nation of Malawi, which is bordered by Zambia, Tanzania and Mozambique, has welcomed the first Islamic banking service in the country, offered by a local commercial bank. NESSREEN TAMANO writes. FDH Bank,...
The global energy market is a massive industry requiring immense amounts of capital for exploration, production, transportation and other operations. Historically, this capital has come from conventional financing sources like banks, capital markets and public...
Ireland has the potential to be the EU’s center of excellence for Islamic finance. The country boasts a constructive and enthusiastic regulatory regime, strong tax incentives, access to the EU’s single market and a growing...
Pakistan was founded in 1947 in the name of the Islam religion, when British rule over India was ended and a new country within India, comprising thickly populated Muslims’ areas, was created. Therefore, since its...
Islamic exchange-traded funds (ETFs) have been growing at a fast pace over the past five years. In 2018, seven funds held US$326 million in assets under management (AuM), which exponentially accelerated to 29 funds with...
In the dynamic landscape of Islamic finance, where tradition intersects with innovation, the concept of human capital emerges as a vital catalyst for success. As the senior partner of a leading law firm in Malaysia...
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...
In a bid to strengthen governance and stability within Bangladesh's banking sector, the Shariah-based Exim Bank is set to acquire the troubled Padma Bank, marking the commencement of a series of planned mergers orchestrated by Bangladesh Bank. The merged bank will operate by Shariah principles. This transformative endeavor is part of Bangladesh Bank's overarching initiative...
Malaysia, like many other countries, is becoming an aging nation due to declining fertility and increasing life expectancy. Based on information from the Malaysia Population Research Hub, 10.7% of its population is aged above 60 in 2020 compared with 7.9% in 2010. This percentage is projected to increase to 15.3% by 2030. With an aging...
‘New Algeria’ is the current vision of Algeria’s president, Teboun Abdelmadjid; a commitment to engage in various reforms with the purpose of not only enhancing the daily lives of the Algerian people but also attracting foreign investors. The promulgation of the new Law of Currency and Banking No 23-09 in mid-2023 is expected to enhance...
In a landmark move aimed at bolstering road safety across Somaliland, the Somaliland National Insurance Authority (SLNIA) announced the introduction of the comprehensive Third-Party Car Takaful Scheme, set to launch on the 1st June 2024. This initiative marks a significant step forward in the nation's efforts to reduce accidents and mitigate the financial burden of...
The Republic of Senegal is, with other eight countries, a member of the West African Economic and Monetary Union (WAEMU). In order to guarantee and ensure, among other objectives, the stability of the WAEMU banking and financial system, its members in 1992 established the Central Bank of West African States (BCEAO), an international public institution...
There are many ways of contribution that would enhance people’s lives in a way that reduces their poverty like trust funds, endowments, Waqf, Zakat and welfare. These types of philanthropy are very important for any...
Human capital is among the main fundamental blocks for the successful development of Islamic finance in Malaysia and abroad. A nation that plans to build or expand Islamic finance development must consider the sustainable supply...
Islamic banking in Russia has long been underdeveloped, particularly in the legal sphere, which hindered its widespread adoption and application. Meanwhile, there are prerequisites for the introduction of Islamic banking in Russia. In line with...
According to the General Council for Islamic Banks and Financial Institutions, the global Islamic fund market has grown by more than 300% over the past decade. The GCC and Malaysia are at the forefront of...
The global Sukuk market, which is very attractive to investors interested in Islamic-compliant securities, has seen considerable growth in recent years. At year-end 2023, the total volume of outstanding global Sukuk was over US$850 billion,...
Takaful Oman’s CEO Neelmani Bhardwaj shares insights into the burgeoning Islamic insurance sector of the Sultanate, as well as Takaful Oman’s expansion plans in the short and medium term, with IFN’s Nessreen Tamano in this podcast episode.
