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Latest News - Tuesday, 30 November 2021

Daily Cover Story: Major player in Malaysia’s Islamic exchange-traded fund market finds new home

MALAYSIA: Kenanga Investment Bank, Malaysia's largest independent investment bank, has acquired ValueCAP’s wholly owned Islamic asset management subsidiary i-VCAP Management. The acquisition comes more than a year after ValueCAP announced its plans to exit the third-party asset management business and...

This Week’s Newsletter

Cover Story: Pakistan: New Sukuk issuance adds to spiraling debt levels

Pakistan intends to launch its first international Sukuk since 2017 this quarter, and the market is awaiting its release with anticipation. The issuance has not been without its hiccups, but it marks an important step...

Editor's Note

Pakistan staging a comeback

In this weekly edition, we are shining the spotlight on Pakistan — the Islamic finance leader of the South Asian region — and its quest to stage its comeback to the international Sukuk stage after...

IFN Case Study

First Abu Dhabi Bank’s Sukuk: Kicking off the new year

Leading GCC Sukuk issuers in the new year was First Abu Dhabi Bank (FAB) with a Sukuk facility worth US$500 million completed on the 11th January, the first issued out of the region in 2021....

IFN Sovereign Securities

Sovereign Securities: Tunisia mulls Sukuk

The Tunisian government mulls Sukuk as budget deficit widens while Turkey will issue lease certificates after a brief hiatus. JEVITHA MUTHUSAMY rounds up Shariah sovereign securities developments over...

IFN Country Analysis

Japan: Maintaining strong ties in Islamic finance

While Islamic finance developments in Japan have been slow due to a small Muslim population and customer base for Islamic products, the country often partners with Islamic finance powerhouses like Malaysia and Saudi Arabia to...

IFN Sector Analysis

Mergers and acquisitions: Activity rebounds amid pandemic

The banking industry saw a wave of mergers and acquisitions (M&A) take place over the past 12 months despite the COVID-19 pandemic that severely affected the global economy and financial markets. JEVITHA MUTHUSAMY brings you...

IFN Monthly Review


The pandemic may not be over yet but 2021 is off to a good start with encouraging developments across the industry. The Sukuk market is looking up; mergers and acquisitions are moving ahead in both...

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

Back to Basics

  • A weekly educative column on Islamic banking and finance today

    Trading of shares of modern joint stock companies

    I had explained the Shariah permissibility of modern joint stock companies in the last article. Today, I will discuss the do’s and don’ts for trading in the shares of a public joint stock company (PJSC) which is classified as a compliant entity based on certain screening parameters defined in AAOIFI Shariah Standard No 21 ‘Financial Paper (Shares and Bonds)’. A detailed explanation of the Shariah screening criteria, justification and benefits shall be discussed separately down the line under the subject of Islamic funds after I have completed the cycle of explaining the Islamic finance and investment contracts. A particular share...

IFN Correspondent Reports

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    The Qard Hasan banking experience in Iran

    One of the Shariah requirements for doing business in the banking sector is that the charging of interest on a debt-based facility is not permitted. In Iran’s Shariah compliant banking framework, the same regulation has been implemented. Moreover, according to Principle 43 of the country's constitution, it is not permitted in the banking system to...

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    Economic empowerment fund for Palestinians

    After officially launching the Economic Empowerment Fund for the Palestinian People (EEFPP) under the leadership and direction of Dr Bandar Hajjar, the president of the IsDB, Dr Nabil Ghalleb, the director of the Economic Empowerment Department, chaired the first meeting of the Administrative Committee of the EEFPP. The meeting was held virtually, and participated by...

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    AAOIFI: Making an impact through a knowledge-sharing initiative

    For over three decades, AAOIFI has continued to provide Shariah compliant financial and investment industry guidance and developed standards in a wider spectrum, covering areas of jurisprudence, business ethics, governance, accounting, auditing, risk and compliance. The leading industry standard-setter’s success in developing good practice standards and industry guidance has fueled product and services research and...

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    Structured Finance

    Mapping renewable energy conventional solutions with Islamic structured finance

    Planet Earth is facing climate deterioration and Mother Nature is not happy at all. The International Renewable Energy Agency (IREA) 2019 Report states that by 2050, total energy investments estimated at around US$110 trillion (about US$3.2 trillion per year) will be required. As per the World Bank Group and Securities Commission Malaysia report titled ‘Islamic...

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    The UK

    New deals, new opportunities and new initiatives in the UK for 2021

    January is usually a time for contemplating the past and making lists for the future. There is a strong temptation to try to make predictions for the coming year as to what the UK might be able to achieve in progressing its stated objective to be a world-leading center for Islamic finance. Following from recent...

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