State Bank of India – Islamic Finance News

IFN Thought Leadership Dialogues 2022

SAUDI ARABIA: Salama Cooperative Insurance Co receives letter of approval from Saudi Central Bank to reduce capital by SAR150 million (US$39.94 million)
SAUDI ARABIA: Gulf Union Al Ahlia Cooperative Insurance Co receives Saudi Central Bank’s approval to launch new product
SAUDI ARABIA: Capital Market Authority of Saudi Arabia approves Amana Cooperative Insurance Company’s request to increase capital via rights issue
UAE: Trading of GFH Financial Group’s shares on Abu Dhabi Securities Exchange to be activated on the 31st May 2022
MALAYSIA: FWD Takaful launches several value-based intermediation for Takaful initiatives including partnership with Malaysian Takaful Association
SAUDI ARABIA: More than six million new shares of Gulf Union Al Ahlia Cooperative Insurance Company subscribed in rights issue trading and new shares subscription
SAUDI ARABIA: Trade Development Fund and Foreign Trade Training Center to organize training program to support SMEs accessing global markets
UAE: Postpay receives Shariah compliance certification from Shariyah Review Bureau
PAKISTAN: PACRA assigns ‘AAA’ preliminary rating to Water and Power Development Authority of Pakistan’s third tranche of i-e Series C Sukuk worth PKR6.35 billion (US$31.5 million)
MALAYSIA: Cagamas sells one-year Islamic medium-term note worth RM100 million (US$22.77 million)
MALAYSIA: Bank Negara Malaysia issues four Islamic liquidity management papers
BANGLADESH: Bangladesh Bank auctions one Bangladesh Government Islami Investment Bond
GLOBAL: Islamic Corporation for the Insurance of Investment and Export Credit and International Federation of Islamic Takaful and Insurance Companies sign MoU to boost Takaful sector
SAUDI ARABIA: Mediterranean and Gulf Insurance and Reinsurance Co reports net loss before Zakat of SAR55.4 million (US$14.75 million) for first quarter of 2022
UAE: Dubai Islamic Bank makes AED1 million (US$272,230) donation to Dubai’s Rental Disputes Center to assist those affected by judicial rulings due to inability to pay rent
EGYPT: Al Baraka Bank Egypt to inject US$6 million to expand digital services
SAUDI ARABIA: Saudi Enaya Insurance Company to increase capital via rights issue worth SAR300 million (US$79.89 million)
QATAR: Masraf Al Rayan completes operational integration upon acquisition of Al Khaliji Bank; consolidates operations to single platform
GLOBAL: Astana International Financial Centre signs MoU with Qatar Financial Centre to foster joint projects stimulating activity on both financial platforms
NIGERIA: IsDB approves US$49,000 grant for University of Health Sciences to train hospital staff in Nigeria
SAUDI ARABIA: Abdulmohsen Abdulrahman Musaed Al Sowailem resigns as CEO and managing director of Nayifat Finance Company
UAE: Aafaq Islamic Finance appoints Darrel D Souza as senior vice-president of credit and collection
SAUDI ARABIA: Saudi Home Loans Co reports net profit before Zakat and income tax of SAR35.85 million (US$9.55 million) for first quarter of 2022
MALAYSIA: Amanat Lebuhraya Rakyat proposes landmark sustainable Sukuk program worth RM5.5 billion (US$1.25 billion); receives preliminary ratings from MARC and RAM
MALAYSIA: Tanjung Bin Energy sells eight Islamic medium-term notes totaling RM710 million (US$161.58 million)
INDONESIA: Indonesia Stock Exchange delists Medco Power Indonesia’s Sukuk Wakalah worth IDR832.7 billion (US$58.29 million)
BRUNEI: Brunei Darussalam Central Bank prices 73rd issuance of BDCB Islamic Bills at BN$27 million (US$19.56 million) with a profit rate of 0.35%
MALAYSIA: Bank Negara Malaysia issues four Shariah papers
SAUDI ARABIA: United Cooperative Assurance Co reports net loss before Zakat of SAR19.86 million (US$5.3 million) for first quarter of 2022
SAUDI ARABIA: Gulf Union Alahlia Cooperative Insurance Co records net loss before Zakat of SAR20.39 million (US$5.43 million) for first quarter of 2022
SAUDI ARABIA: Gulf General Cooperative Insurance Co reports net loss before Zakat of SAR18.07 million (US$4.81 million) for first quarter of 2022
SAUDI ARABIA: CHUBB Arabia Cooperative Insurance Co sees net profit before Zakat decline by 16.19% on year-on-year basis to SAR2.03 million (US$541,634) for first quarter of 2022
SAUDI ARABIA: Allianz Saudi Fransi Cooperative Insurance Co reports net profit before Zakat of SAR3.19 million (US$850,669) for first quarter of 2022
GLOBAL: Turk Eximbank and Etihad Credit Insurance sign MoU to enhance Halal trade and support business relations between Turkey and the UAE
QATAR: Shariah compliant crypto exchange CoinMENA launches in Qatar
SAUDI ARABIA: Riyad Bank calls for board membership nominations
BANGLADESH: Bangladesh Bank asks Islamic banks and conventional banks with Islamic operations to submit information on Shariah committee members
RUSSIA: Sber to offer Shariah compliant business lending product
INDONESIA: Bank Syariah Indonesia to conduct rights issue exercise worth IDR5 trillion (US$350 million)
SAUDI ARABIA: Bashar Yahya Alqunaibet resigns as deputy chairman of SABB Takaful
INDONESIA: PEFINDO affirms ‘idA+(sy)’ rating on Oki Pulp and Paper Mills’s Sukuk I Year 2021 Series A worth IDR700 billion (US$49 million) maturing on the 18th July 2022
INDONESIA: PEFINDO affirms ‘idA+(sy)’ rating on Jasamarga Pandaan Tol’s Sukuk Ijarah Year 2019
INDONESIA: PEFINDO raises rating for Hutama Karya’s Shelf Registered Sukuk I to ‘idAA-(sy)’ from ‘idA(sy)’
GLOBAL: Bahrain Bourse and Abu Dhabi Securities Exchange discuss high-level strategic partnership to implement cooperation agreement signed in November 2021
INDONESIA: Indonesia to issue project-based Sukuk paper via private placement
MALAYSIA: Bank Negara Malaysia issues five Shariah papers
UK: Cloud native banking technology company Thought Machine closes Series D funding round
SAUDI ARABIA: ANB Invest signs agreement with Hisham Al Musa Group to invest SAR700 million (US$186.4 million) in real estate project
BAHRAIN: Central Bank of Bahrain launches Bahrain Open Banking Supernova 2022 innovation challenges

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Islamic banking and finance in India: One must not lose hope!

Thursday, 13 Jan 2022 | IFN Annual Guide 2022

Features

Does Islamic finance have a role in New India’s aspirational US$5 trillion economy?

Tuesday, 20 Aug 2019 | Volume16.Issue33

Features

How interest-free financing survived in Maqasid dialogues

Monday, 29 Jul 2019 | Volume16.Issue30

Special Reports

Islamic finance for financial inclusion and infrastructure development in India

Tuesday, 14 Aug 2018 | Volume15.Issue33

Features

Indian PE firm to use Islamic finance to invest in Africa

Wednesday, 24 Jan 2018 | Volume15.Issue05

A slow but promising path for Shariah banking in India

Tuesday, 26 Dec 2017 | IFN Annual Guide 2018

Features

The TASIS-Tata agreement

Monday, 13 Nov 2017 | Volume14.Issue46

IFN Correspondent Reports

Islamic finance: No steps for the introduction of Shariah compliant mutual funds

Thursday, 31 Aug 2017 | Volume14.Issue36

IFN Correspondent Reports

Islamic finance in India still at the crossroads

Tuesday, 15 Aug 2017 | Volume14.Issue33

Features

No initiatives for Islamic funds

Monday, 31 Jul 2017 | Volume14.Issue31

Religious restrictions result in billions of rupees lying in suspended accounts

Friday, 02 Jun 2017 | Volume14.Issue23

IFN Correspondent Reports

Reserve Bank of India

Monday, 22 Aug 2016 | Volume13.Issue34

Moves

India shortlists replacements for RBI governor

Tuesday, 28 Jun 2016 | Volume13.Issue26

India: Moving in the right direction, slowly

Wednesday, 17 Feb 2016 | Volume13.Issue07

The silent revolution: UK Islamic retail banks turn the market around

Thursday, 11 Feb 2016 | Volume13.Issue06

Islamic finance in India no longer a distant dream

Wednesday, 09 Dec 2015 | IFN Guide 2016

India: Regulatory hurdles abound in India but all is not lost for Islamic finance

Wednesday, 16 Sep 2015 | Volume12.Issue37

Special Reports

India: Islamic banking and finance review

Wednesday, 09 Sep 2015 | Volume12.Issue36

Special Reports

Clean energy: An Islamic opportunity

Wednesday, 25 Mar 2015 | Volume12.Issue12

Regulation of the Islamic finance sector in India

Friday, 13 Mar 2015 | IFN Annual Guide 2015

Features

Regulation of the Islamic finance sector in India

Wednesday, 11 Mar 2015 | IFN Guide 2015

Features

India — one step forward, two steps back

Wednesday, 18 Feb 2015 | Volume12.Issue07

Shariah investments gaining popularity in India

Thursday, 15 Jan 2015 | Volume12.Issue03

SBI postpones fund

Tuesday, 02 Dec 2014 | Volume11.Issue48

Asset Management

New Indian fund

Monday, 01 Dec 2014 | Volume11.Issue48

Asset Management

State Bank of India to launch Shariah compliant mutual fund

Wednesday, 26 Nov 2014 | Volume11.Issue47

State Bank of India to launch Shariah compliant mutual fund in December

Tuesday, 25 Nov 2014 | Volume11.Issue47

NBAD to establish Indian operations

Thursday, 22 May 2014 | Volume11.Issue21

Saudi Arabian conglomerate, Al Bayan Holding Group, issues first tranche of Malaysian ringgit-denominated Sukuk

Thursday, 25 Apr 2013 | Volume10.Issue17

Islamic Finance Developments in 2010 and Prospects for 2011

Tuesday, 15 Mar 2011 | Islamic Finance News Guide 2011

Features

Dynamism of Islamic Insurance

Wednesday, 22 Sep 2010 | Volume7.Issue38

Takaful News Feature

Establishing A Haj Fund In India

Wednesday, 30 Jun 2010 | Volume7.Issue26

Features

The World of Takaful — An Update

Wednesday, 24 Mar 2010 | Volume7.Issue12

Features

Missed opportunities

Wednesday, 10 Mar 2010 | Volume7.Issue10

Little Island State, Big Plans

Monday, 01 Feb 2010 | Islamic Finance Asia

Features

Takaful gains ground

Friday, 16 Oct 2009 | Volume6.Issue41

Mizuho taps Indian marts

Friday, 01 Feb 2008 | Volume5.Issue04

The Way Forward to Islamic Banking in India

Friday, 05 Jan 2007 | Volume4.Issue01

Features

Loan facility for Star Cement

Friday, 17 Nov 2006 | Volume3.Issue41

India bags Saudi deal

Friday, 06 Oct 2006 | Volume3.Issue35

India to explore Islamic banking

Monday, 11 Jul 2005 | Volume2.Issue14

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