IRAN: Iran’s stock market shuts down following death of Iranian president and foreign minister, Tasnim News Agency reports
GLOBAL: IsDB to take part in 10th World Water Forum
TURKIYE: Ziraat Katilim raises TRY1.5 billion (US$46.47 million) through Sukuk issuance
INDONESIA: Indonesian engineering company lodges Sukuk on Indonesia Central Securities Depository
TURKIYE: Vakif Katilim sells Islamic paper worth TRY700 million (US$21.68 million)
MALAYSIA: Sabah state-owned financial services company sells Islamic medium-term note
MALAYSIA: Bank Negara Malaysia issues Islamic facilities
TURKIYE: Paraffin production company in Turkiye issues TRY50 million (US$1.55 million) Sukuk
PAKISTAN: Pakistan Stock Exchange to hold 9th auction of government of Pakistan Sukuk Ijarah
BANGLADESH: Bangladesh Bank auctions Bangladesh Government Islami Investment Bonds
GLOBAL: AAOIFI Accounting Board holds 38th meeting
PAKISTAN: Pakistan Stock Exchange introduces same-day settlement for government’s Sukuk Ijarah trading
INDONESIA: Financial Services Authority of Indonesia launches regulation for rural banks
AFGHANISTAN: Non-profit company signs agreement with Afghan bank to extend Islamic financing for SMEs
MALAYSIA: Bank Negara Malaysia issues Islamic facility
SAUDI ARABIA: Saudi REIT fund appoints independent valuer
PAKISTAN: Securities and Exchange Commission of Pakistan revises framework for digital lenders
SAUDI ARABIA: Shariah compliant Saudi asset management firm commences public offering of new fund
TURKIYE: ZKB Varlik Kiralama prints Islamic paper
TURKIYE: Turkish leasing company sells Sukuk facilities
TURKIYE: Turkish logistics company launches Sukuk
TURKIYE: Turkiye Emlak Katilim Bankasi sells Islamic facility
TURKIYE: Albaraka Turk Participation Bank prints Sukuk facilities
SAUDI ARABIA: Value of utility company’s Islamic banking facilities increases
TURKIYE: Fitch Ratings expects Turkiye’s Sukuk market share mix to increase
MALAYSIA: Asset management company appoints new CEO, The Edge Malaysia reports
MALAYSIA: Investment holding company lodges Sukuk program
UAE: UAE-based Rent Now Pay Later provider secures Sukuk and equity financing
BAHRAIN: Bahraini Islamic bank completes acquisition of Kuwaiti bank’s Bahrain branch
UAE: District cooling company to issue green bonds or Sukuk next year, Asharq Business reports
UAE: NASDAQ Dubai admits IsDB’s Sukuk to official list of securities
MALAYSIA: Bank Negara Malaysia issues Islamic facility
SAUDI ARABIA: Sharia compliant crowdfunding platform receives permit from Saudi Capital Market Authority
OMAN: Omani bank launches Shariah compliant credit cards
PAKISTAN: Pakistani regulator completes Shariah compliant open market operation liquidity injection
INDONESIA: Two Indonesian companies’ shares certified as Shariah compliant
PAKISTAN: Stock exchange lists government of Pakistan’s Sukuk Ijarah
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
ZAMBIA: A Zambian property developer could be the first issuer of Sukuk in the country, which has seen at least four other entities in the past year express their interest in issuing Sukuk. Eden Villas Properties, a subsidiary of Egypt-owned...
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...
Our awards board characterized the 2023 round of competition as “not a typical year”, and it was not, indeed. From the collapse of Silicon Valley Bank and skyrocketing inflation to escalating deadly geopolitical conflicts, the...
The Islamic banking subsidiary of Malaysian lender RHB Bank has made a return to the domestic Sukuk market after a two-year absence. NESSREEN TAMANO has the story. RHB Islamic Bank, on the 15th May 2024,...
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.
An Islamic finance company partnered with a local insurer to promote Takaful in Cameroon, the Philippines’s Muslim region announced a new Shariah compliant financing facility is in the works and two GCC companies issued green...
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...
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...
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...
The long-awaited Qatar Economic Forum was held in Doha from the 14th May to the 16th May 2024. Participants and speakers at the forum included government leaders, global investors, CEOs and other influential voices who discussed issues concerning energy, artificial intelligence (AI), global finance, healthcare, geopolitics and sports among other matters. Several collaborations and partnerships...
The Bangko Sentral ng Pilipinas (BSP) announced that two potential applicants are in serious discussions with the BSP for their entry into the Islamic banking sector of the Philippines. One of them is Maybank Philippines which is interested in opening an Islamic banking unit to complement its existing commercial banking operations in the Philippines. The...
My writing for this month's column is inspired by a recent academic discourse I attended, delivered by Professor Dr Asad Zaman, a distinguished scholar in the field of Islamic economics. Titled ‘Decolonizing of Education: An Islamic Perspective’, the lecture triggered profound contemplation. Despite its lengthy duration, I found satisfaction in understanding Professor Dr Asad's insights,...
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...
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.
