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IFN UK Forum 2022

Latest News - Wednesday, 06 July 2022

Daily Cover Story: Appetite for Islamic finance in Australia remains high, say industry players

AUSTRALIA: Australia is an exciting market at the moment in terms of Islamic finance, and the potential and appetite for Islamic investment products and financial services remain high, according to some industry players during a discussion at IFN Australia OnAir...

This Week’s Newsletter

Cover Story: UK — global Islamic fintech hub?

When it comes to global Islamic finance leadership, the winners are fairly clear cut: Malaysia and Saudi Arabia. But the rankings are muddled when it comes to Islamic fintech. Incumbent Shariah finance heavyweights such as...

Editor's Note

Fintech fervor

With new entrants making their debut and new regulations in the making, the Islamic fintech market is rapidly evolving. In light of these developments, we take a look at how certain Shariah fintech strongholds are...

Islamic Sustainable Finance and Investment

IFN Case Study

Saudi Investment Bank returns to Sukuk market

Commercial bank Saudi Investment Bank (SAIB), which offers Islamic financial products through its Al Asalah Islamic Banking brand, has returned to the domestic Sukuk market over three years after its last Islamic issuance in 2019....

IFN Sovereign Securities

Sovereign Securities: Turkish Treasury to auction lease certificates

Turkish Treasury will offer lease certificates while regular issuers from Indonesia, Malaysia and Gambia sustained momentum. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over the week. Indonesia...

IFN Country Analysis

Syria: Surviving the conflict

Syria continues to suffer from the negative social and economic impact of an armed conflict that has been ongoing for 12 years, further exacerbated by the COVID-19 pandemic. NESSREEN TAMANO writes an overview of the...

IFN Sector Analysis

Pensions: Strong returns amid pandemic

Preliminary data for 2020 showed that pension funds held over US$35 trillion of assets worldwide at the end of 2020, exceeding 2019 levels despite the headwinds due to the COVID-19 pandemic. JEVITHA MUTHUSAMY analyzes the...


IFN Monthly Review

June

Banks and financial institutions in Afghanistan are moving toward fully Islamic conversion following an instruction from the central bank to do so “as soon as possible”. Similarly, in Pakistan, the Federal Shariat Court issued an...

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.


IFN Reports


IFN Features

  • Unauthorized agency in Islamic finance

    The notion of Tasarruf Fuduli (a transaction entered into by a person on behalf of another, without or beyond the mandate given, hereafter referred to as ‘unauthorized agency’) in Islamic financial institutions has invoked an...

  • Islamic finance and ESG’s alluring momentum in equity markets

    Orientation toward sustainability has become a key requisite for companies, especially after the COVID-19 outbreak. A similar trend was witnessed in equity markets, as evidenced by the record inflows into ESG-focused funds in the past...

  • Shariah compliant mortgage financing in Singapore

    The only regulatory authority in Singapore which oversees banking and finance systems is the Monetary Authority of Singapore (MAS). In Singapore, there is no specific law governing the practices of Islamic finance. As things stand,...

  • Musharakah investing in an era of booming private markets

    Over the last decade, private markets grew five-fold with assets reaching US$10 trillion in 2021 (Source: Preqin). Private markets growth is expected to continue for the foreseeable future supported by a rise in ethical and...

  • The actuarial challenge in Takaful in the digital age

    Like most sectors of the economy in the Muslim world, Takaful is also affected by the imperative of a digital transition. The actuary's profession, protean in its essence and made up of figures, complex models,...

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    ESG Sukuk

    Socially responsible investment has always been at the heart of the good Samaritans of any society. The phenomenon has existed from time immemorial through individual steps or small-scale cooperative style efforts, centerd around a community’s religious organs. However, it was first institutionalized in 2006 through the six ‘Principles for Responsible Investment’ released by the UN (UNPRI). The gist of these principles is that the large investor companies and funds which become the signatories of UNPRI shall give due consideration to the ESG issues when making investment decisions. They will incorporate ESG into their own culture, demand ESG disclosure from companies...

IFN Correspondent Reports

  • Turkey

    Unlocking Islamic finance for women’s economic empowerment

    Women’s economic empowerment is key to realizing women’s rights and gender equality. It incorporates women’s equal participation in existing markets, access to and control over assets, opportunities for decent work and raised self-agency and participation in economic decision-making at all levels. Empowering women in economy and closing gender gaps are both key enablers to and...

  • Takaful & re-Takaful (Asia)  

    MicroTakaful demand study: Understanding the BM40 market in Malaysia

    In 2017, Bank Negara Malaysia (BNM) launched the Perlindungan Tenang (PT) initiative with the local insurance and Takaful industry, aiming to provide simple and affordable insurance/Takaful plans to the low-income group in Malaysia. To facilitate PT product purchases, the Malaysian government subsequently launched a voucher program in September 2021, giving out RM50 (US$11.36) vouchers to...

  • Egypt

    Egyptian Sukuk market ebbs and flows at the close of FY21/22

    The Egyptian Sukuk market continues to experience alternating periods of regression and optimism in light of the economic difficulties the country is facing in the aftermath of the COVID-19 pandemic and in the midst of the Russian invasion of Ukraine. Despite previous announcements that Egypt’s first sovereign Sukuk issuance would occur this summer, the Ministry...

  • UK

    UK Sukuk issuance: The corporate gap

    The UK market for Islamic finance is an interesting study of what is both good and bad about the current state of Islamic finance. With some activity at the top and lots of enthusiasm at the bottom, why is there such a gaping hole in the middle? At the top, of course, are the two...

  • Russia

    Amendment of legislation to promote Islamic finance in Russia

    The Participating Banking Working Group of the Central Bank of the Russian Federation has held its first meeting at the end of June 2022 after the COVID-19 pandemic era. One of the key questions on the agenda was the adjustment of the current Russian legislation to promote the development of the Islamic finance model. The...


IFN Special Reports

  • Trading Islamic commodities

    In Islamic finance, commodities have always held intrinsic value. They include precious metals, such as gold and silver, as well as consumable food items, such as wheat, barley and dates. In addition to being mentioned...

  • Sustainable financing framework and green deposit model set course for Islamic banking in Qatar

    Islamic banking — already a US$2.2 trillion global sector — is on the rise with a projected growth of 10–12% this year alone. In Qatar, following Masraf Al Rayan’s recent merger with Al Khaliji Commercial...

  • Ethics in Islamic finance

    The paradigm of modern economic thought is such that it separates the ‘economic’ from social life and prevents any integrative holistic approach. It starts from the assumption that the motivations of ‘players’ in the economy,...

  • Islamic trading and brokerage

    An intermediary between a seller and a buyer or between a producer and a consumer of legitimate goods and services is not prohibited in Islamic law and Shariah. This can be extended to all businesses...

  • The trendsetter of alternate financing in Sri Lanka

    LOLC Al-Falaah, Sri Lanka’s alternate financial services brand, celebrated its 15th anniversary in April 2022. This milestone marks a period during which LOLC Al-Falaah revolutionized Sri Lanka’s non-interest-based financial services as the trendsetter of the...

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