PAKISTAN: Pak-Qatar Takaful Group closes 2021 with over PKR11 billion (US$62.26 million) in total business, 28% higher year-on-year
SAUDI ARABIA: Amana Cooperative Insurance Company seeks to raise SAR300 million (US$79.89 million) in capital via rights issue
BAHRAIN: Al Salam Bank donates BDH10,000 (US$26,363.5) to Royal Humanitarian Foundation through community-led corporate social responsibility campaign
NIGER: IsDB, Islamic Solidarity Fund for Development and Niger government launch cataract surgery campaigns in three regions
PAKISTAN: First IBL Modaraba and First Paramount Modaraba respond to Pakistan Stock Exchange’s enquiry on unusual share price movement
BAHRAIN: Rain Financial raises US$110 million in Series B funding
LITHUANIA: Tijarah Holding partners with Goldchainex to secure Islamic digital banking license
UZBEKISTAN: International Islamic Trade Finance Corporation signs US$15 million trade finance agreement with Uzbek Industrial and Construction Bank
PAKISTAN: Pakistan plans US dollar sovereign Sukuk; Fitch assigns ‘B-’ rating to proposed offering
PAKISTAN: OILCO Petroleum eyes PKR750 million (US$4.25 million) Sukuk; obtains ‘A+’ preliminary rating
INDONESIA: Indonesian government aims to raise IDR11 trillion (US$766.39 million) at Sukuk auction next week
GAMBIA: Central Bank of Gambia receives underwhelming response for six-month and one-year Sukuk Salam while three-month paper oversubscribed
UK: Sidra Capital acquires Coca Cola headquarters for GBP43.6 million (US$59.36 million)
QATAR: Qatar Islamic Bank registers 2.2% growth in 2021 total income to QAR8.1 billion (US$2.22 billion)
INDONESIA: PEFINDO affirms ‘idAAA(sy)’ rating on Sarana Multi Infrastruktur’s maturing Sukuk
MALAYSIA: RAM reaffirms ‘P1’ and ‘AA3/Stable’ ratings on Bermaz Auto’s Islamic issuance programs
SAUDI ARABIA: Al Rajhi Bank secures regulatory approval to acquire Ejada Systems
OMAN: Fitch revises negative outlook on Bank Muscat’s long-term issuer default rating to stable
PAKISTAN: NRSP Microfinance Bank hits PKR1 billion (US$5.64 million) Islamic gross loan portfolio milestone
EGYPT: Egypt concludes US$3 billion Islamic–green three-year financing
INDONESIA: Askrindo Syariah appoints Aviantono Yudihariadi as new marketing director, replacing Supardi Najamuddin
INDONESIA: Indonesia lists three new Sukuk offerings worth IDR1.7 trillion (US$118.62 million) on the Indonesia Stock Exchange
SAUDI ARABIA: Al Rajhi Bank raises SAR6.5 billion (US$1.73 billion) through Tier 1 Sukuk
GLOBAL: International Islamic Liquidity Management Corporation’s first offering of 2022 oversubscribed by 1.54 times
MALAYSIA: Bank Negara Malaysia prints three Islamic liquidity management facilities
BANGLADESH: Bangladesh Bank prints three-month and six-month Bangladesh Government Islami Investment Bond
PAKISTAN: Pakistan Stock Exchange requires three Modaraba companies to disclose details relevant to unusual movement in share prices and volume
BAHRAIN: Al Baraka Islamic Bank launches financing for customers looking to install solar systems
SAUDI ARABIA: Abdul Latif Jameel Finance launches Tawarruq financing product for SMEs
UAE: IHC Food Holdings acquires 75% controlling stake in Abu Dhabi Vegetable Oil Company as part of settlement with Dubai Islamic Bank
BANGLADESH: National Board of Revenue of Bangladesh examining tax rebates for Sukukholders
LIBYA: Libyan Islamic Bank signs strategic partnership with online marketplace Zanomy
PAKISTAN: Securities and Exchange Commission of Pakistan consolidates 60 insurance circulars to issue master circular facilitating insurance and Takaful sectors
SAUDI ARABIA: Arabian Shield Cooperative Insurance Company concludes merger with AIAhli Takaful Company
BAHRAIN: Kuwait Finance House-Bahrain launches Shariah compliant University Education Financing program
BAHRAIN: Gold Souq receives BHD10,000 (US$26,367.4) in funding from Hope Ventures
UK: Shariah compliant marketplace platform Halal.co.uk launches in the UK
BAHRAIN: Bahrain’s Liquidity Fund disburses BHD176.8 million (US$466.18 million) in financing for SMEs since inception through partnership with local banks
KUWAIT: Kuwait International Bank appoints new heads of digital and information technology departments
IRAN: Central Bank of Iran appoints Afshin Khani as deputy foreign minister, Abuzar Soroush as deputy supervisor and Mohsen Karimi as international deputy governor
MALAYSIA: Former CEO of Sun Life Malaysia Takaful Muhammad Fikri Mohamad Rawi joins Takaful Ikhlas Family as new CEO and president
SAUDI ARABIA: AXA Cooperative Insurance Company appoints Khalid Abdulaziz Alshuwaier as new CEO
MALAYSIA: Point Zone seeks approval to establish Sukuk Wakalah program worth up to RM3 billion (US$717.7 million)
MALAYSIA: Perbadanan Kemajuan Negeri Selangor auctions three Tawarruq- and Murabahah-based Islamic papers
MALAYSIA: MBSB Bank to establish RM5 billion (US$1.2 billion) Sukuk Wakalah program
INDONESIA: Indonesia raises IDR11 trillion (US$768.35 million) from Sukuk auction
BANGLADESH: Islami Bank Bangladesh and Shahjalal Islami Bank list Mudarabah bonds on Chittagong Stock Exchange
MALAYSIA: Cagamas places Islamic commercial papers totaling RM300 million (US$71.77 million)
BRUNEI: Brunei Darussalam Central Bank sells 202nd Sukuk Ijarah paper worth BN$100 million (US$74.12 million)
MALAYSIA: Bank Negara Malaysia issues two Islamic liquidity management papers totaling RM20.9 billion (US$5 billion)
The Islamic dollar is big business – but how can Halal firms make sure that their financing is as ethical as their output? IFN Halal Finance is a comprehensive resource providing Halal firms with the information they need on the Islamic financial markets and the choices therein.
IFN Halal Finance provides a direct channel of communication to corporates worldwide. From January 2020 IFN Halal Finance takes over from IFN Corporate
As the coronavirus pandemic sweeps the globe, healthcare is one of the few industries that have benefited from the current conditions — and the Halal pharmaceuticals sector is no exception. A recent report from Adroit Market Research projects the total...
Arab Company for Projects and Urban Development, a wholly-owned construction and real estate subsidiary of Egyptian holdings company Talaat Moustafa Group, on the 8th April issued a Sukuk facility worth EGP2 billion (US$126.78 million). The...
It has been fascinating to witness how the Halal industry has evolved over the past few years, as companies, organizations and even countries strategize to position themselves in this growing marketplace. DR SUTAN EMIR HIDAYAT,...
The global Islamic economy has gained an increasingly strong foothold in the world economy, driven by increasing Muslim consumer demand for dedicated products and services compliant with Islamic law that has developed the global subsectors...
Dubai, already a market leader in terms of Halal contribution, is seeking to cement its influence in 2020–21 with the development of a new global legislative code to enable authorities around the world to embed...
Malaysia’s central bank, Bank Negara Malaysia (BNM), has not only increased its SME financing fund by a further RM4 billion (US$937.7 million) to RM13.1 billion (US$3.1 billion), and offered SMEs access to credit guarantee schemes...
In a bid to boost its Halal export sector the UAE’s federal export credit company, Etihad Credit Insurance (ECI), has partnered with the Dubai Islamic Economy Development Centre (DIEDC) to provide a new range of...
Malaysia has led the way during the coronavirus crisis with a wide array of Shariah compliant funding packages to support its Halal production and manufacturing sector. The latest initiative comes in the form of a...
The Arab Brazilian Chamber of Commerce on the 10th June held a virtual meeting to discuss the significant potential for the manufacture and export of products for Muslim consumption — including opportunities in the tourism,...
Fully Halal Saudi-based fashion and food retailer Fawaz Abdulaziz Al Hokair Co, which has operations across 13 countries, in March secured a dual currency US$800 million refinancing package from a consortium of GCC banks to...
The coronavirus (COVID-19) epidemic is undeniably having a material impact on the global economy. At the time of writing, the total number of confirmed cases had risen to more than 90,000 and killed more than...