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IFN Investor

Latest News - Monday, 24 June 2024

Daily Cover Story: Investment firm to list global Sukuk ETF on Abu Dhabi exchange

UAE: Abu Dhabi-based private investment firm Chimera Capital will list its Chimera JP Morgan Global Sukuk ETF on the Abu Dhabi Securities Exchange (ADX) on the 8th July 2024. The Sukuk ETF would track the performance of the JP Morgan...

This Week’s Newsletter

Cover Story: Pakistan counting on REITs to unlock missed real estate opportunities

Pakistan falls incredibly short when it comes to capitalizing on one of its largest asset classes — real estate. Could Islamic REITs be the answer? VINEETA TAN finds out. For a sector that connects to...

Editor's Note

REITs to the rescue?

Despite being one of the largest countries in the world by population and undergoing rapid urbanization, Pakistan is a long way from realizing the potential of its real estate assets, which are significantly underutilized and...

IFN Case Study

Esterad Investment Company’s financing: An Islamic mezzanine facility

Bahraini investment firm Esterad Investment Company, through its subsidiary Esterad Bank, which is a fully- fledged Islamic bank licensed in the Kingdom, successfully closed a Shariah compliant mezzanine Murabahah financing deal. NESSREEN TAMANO shares an...

IFN Sovereign Securities

Sovereign Securities: Regular issuers tap market

This week, regular issuers Malaysia, Kuwait, Qatar and The Gambia issued Islamic facilities. HANIF NAMORA brings you updates from the global sovereign Islamic securities space. Malaysia Bank Negara...

Moody's Ratings

IFN Country Analysis

Iraq: Harnessing the potential of Islamic finance

The Iraqi government has, in recent years, prioritized the development of Islamic banking and finance in the country, as it recognizes the potential of Islamic financial instruments as a tool to support its reconstruction and...

IFN Sector Analysis

Ratings: Growth and market dynamics

The ratings landscape in Islamic finance continues to adjust itself within the context of evolving economic conditions, regulatory updates and a growing focus on ESG factors. GURUCHATHRAM LEDCHUMANAN delves into the developments of the past...

IFN Monthly Review

May

The regulators of Nigeria, Malaysia, Uzbekistan and Iran announced updates and plans to further support their respective Sukuk and Islamic finance markets. In the GCC, mergers and acquisitions announced in Q1 2024 moved forward, while the Southeast African nation of Malawi welcomed its first Islamic...

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

HSBC Amanah

IFN Features

  • Achieving socioeconomic justice through Islamic banking

    Sadaqa House: Inspiring 'Adl and Ihsan in the Realm of Islamic Banking’ delves into the innovative concept of Sadaqa House, a Malaysian initiative that merges Islamic social finance with the Islamic banking framework. Authored by...

  • Takaful in Sri Lanka thriving among challenges

    Sri Lanka has had its own particular economic problems that have negatively impacted the growth of the insurance industry as disposable incomes have dropped consequent to the sharp rise in the cost of living and...

  • Islamic finance role in cinematographic education in France

    In IFN Volume 20 Issue 34, the virtues of Islamic financing of French places of worship and theme of schools’ financing in France through Mudarabah digital Islamic banking were highlighted. In this article, SHEIKH DR...

  • A growing niche in wealth management and growth drivers

    Islamic family offices are becoming a major force in global wealth management, catering to the unique needs of high-net-worth Muslim families. These firms adhere to Islamic finance principles, ensuring all investments and financial decisions comply...

  • Bright future for Islamic private banking sector in Turkiye

    Islamic banks in Turkiye, also known as participation banks, have been steadily increasing their market share within the Turkish banking sector, typically in the range of 8–9% of the total banking assets in the country....

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Schools of thought: Madhhab — Part 2

    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...

IFN Lawyers

IFN Correspondent Reports

  • Pakistan

    Modaraba: Shariah compliant financing instrument in Pakistan

    In Pakistan, the process of Islamization of the economy was initiated in 1977 and in light of the recommendations made by the Council of Islamic Ideology, the government of Pakistan introduced certain changes in the Banking Companies Ordinance. The Modaraba Law was also promulgated to provide a legal framework for the Islamic financial system. This...

  • ESG      

    Scaling up impact of Sukuk market through ESG digital Sukuk

    ESG Sukuk are a type of fixed-income instrument that raises capital in a Shariah compliant way for projects or companies that address ESG issues. ESG Sukuk outstanding amounted to US$24.41 billion in 2022 and the total Sukuk issuance was estimated at US$8.4 billion, a significant increase from US$6.1 billion in 2021. In the conventional markets,...

  • Somaliland  

    Overcoming barriers: Operational hurdles for Takaful companies in Somaliland

    The adoption and growth of Takaful companies in Somaliland face significant operational challenges, which impede their ability to effectively compete with conventional insurance firms and serve the local market. These challenges encompass issues related to awareness, capital and human resources, all of which are critical for the successful operation of Takaful businesses. One of the...

  • Bangladesh

    Bangladesh secures US$289.52 million financing from IsDB for transformative rural housing development

    In a pivotal moment at the annual gathering of the IsDB convened in Riyadh, Bangladesh and the IsDB forged a momentous partnership by finalizing a groundbreaking financing agreement valued at US$289.52 million. This landmark agreement marks the inception of the second phase of the 'Rural and Peri-Urban Housing Finance Project,' an ambitious endeavor aimed at...

  • Uzbekistan

    Development of the fintech landscape in Uzbekistan

    Growth of BNPL and POS Financing The Buy Now Pay Later (BNPL) and POS [point-of-sale] financing markets are experiencing rapid growth in Uzbekistan. By 2027, the total volume of cashless transactions is expected to reach between US$107 billion and US$125 billion, with the POS financing and BNPL market projected to grow fourfold. The gross merchandise...

IFN Special Reports

  • Pakistan’s journey toward a Riba-free economy

    "Interest-based banking has enslaved our economy. We must rid ourselves of this evil," said the founder of the Islamic Republic of Pakistan, Muhammad Ali Jinnah, who emphasized the importance of eliminating interest-based systems to foster...

  • Composite Sukuk in light of AAOIFI draft Sukuk Shariah Standard No 62

    Issuing Sukuk in a structure that aligns with the needs of the issuer and meets Shariah parameters has been a dilemma for quite a long period. This is mainly due to the unique nature and...

  • Adapting to economic trends: Pakistan’s debt dynamics through an Islamic lens

    COVID-19 influenced consumer behaviors, preferences and consumption, disrupting the global supply and demand balance. The world is still experiencing COVID-19-related effects, such as uncontrolled inflation driven by the services sector and unstable growth. This level...

  • Applicability of blockchain smart contracts in Zakat

    Blockchain is a digital transaction record based on its structure where individual records called blocks are linked together in a register called a chain. Islamic social finance and fintech (financial technology) offer new opportunities for...

  • Spread of Islamic finance in the post-Soviet region

    The terms ‘Islamic finance’ and ‘Islamic banking’ have become increasingly common in recent times. A type of bank financing that has recently been actively developing worldwide, Islamic finance, with its growth potential and increasingly widespread...

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