UAE: Emirates Islamic partners with IDEMIA to launch Smart Metal Art cards to appeal to millennials
SAUDI ARABIA: Saudi Fransi Capital Company increases remuneration of Taleem REIT Fund’s board members to SAR10,000 (US$2,663.23)
UAE: National Takaful Company records increase in net profit to AED18.4 million (US$5.01 million) for 2020
SAUDI ARABIA: Aljazira Takaful Taawuni Company receives approval to renew license for three years
MALAYSIA: Great Eastern Holdings pledges RM1 million (US$243,989) for customers affected by COVID-19
QATAR: Dukhan Bank grows revenues by 15.7% in 2020 to QAR3.8 billion (US$1.04 billion)
MALAYSIA: QSP Semenanjung secures rating upgrade for RM1 billion (US$243.99 million) green Sukuk
MALAYSIA: AmBank Islamic and parent group suffer rating downgrade due to 1MDB settlement
KUWAIT: Kuwait Finance House wins legal case against Mushrif Trading and Contracting Co; court rules latter to pay KWD37.36 million (US$123.03 million)
OMAN: Capital Market Authority rolls out digital licensing system for health insurance third-party administrators
INDONESIA: MNC Guna Usaha Syariah to launch Hajj registration financing service SIAP HAJI
MALAYSIA: Maybank Islamic introduces SKIM CAKNA for eligible SMEs
PAKISTAN: Eighteen and Habib Bank’s Islamic banking arm collaborate to offer Islamic house financing facilities
TURKEY: Hakan Atilla resigns as managing director of Borsa Istanbul
MALAYSIA: Sunway Treasury Sukuk auctions two Mudarabah-based Islamic commercial papers
MALAYSIA: Danum Capital issues RM400 million (US$97.6 million) Islamic medium-term note
MALAYSIA: Bank Negara Malaysia prints two Islamic papers totaling RM24.79 billion (US$6.05 billion)
NIGERIA: Norrenberger to launch second Islamic fund by December
INDONESIA: Fitch Ratings sets optimistic outlook on Indonesia’s Takaful industry in 2021
TURKEY: Turkish parliament approves regulation for interest-free funding market for housing
UAE: Dubai-based neobank YAP partners with RAK Bank; officially launches
MALAYSIA: Axis REIT to acquire property from FIW Steel for RM120 million (US$29.44 million)
TURKEY: Participation Banks Association of Turkey signs MoU with Istanbul International Center for Private Sector in Development on sustainable development goals
INDONESIA: Indonesian Financial Services Authority inaugurates two micro Waqf banks in Central Java
MALAYSIA: Malaysia’s income tax exemption law on Sukuk Prihatin gazetted
GLOBAL: Al Meezan Investments collaborates with DirectFN to implement new system
INDONESIA: Bank Syariah Indonesia launches homeownership financing for a period of up to 30 years
SAUDI ARABIA: The Saudi Central Bank extends period of payment deferment and guaranteed financing programs
SAUDI ARABIA: Al Moammar Information Systems Company renews Islamic facility with Bank Albilad worth SAR100 million (US$26.62 million)
PAKISTAN: Lahore Development Authority signs agreement with Allied Bank’s Islamic banking division to facilitate online payment system
GLOBAL: Islamic Research and Training Institute strengthens collaboration with partners on global value chains and multidimensional poverty assessments
SAUDI ARABIA: BNP Paribas appoints Reema Al Asmari as new head of territory for Saudi Arabia
BAHRAIN: FinHub973 launches open API sandbox feature supporting Bahrain’s open banking framework
MALAYSIA: Bank Islam Malaysia to set up digital bank with infrastructure partners Mambu and Experian by second quarter of 2021
BRUNEI: Autoriti Monetari Brunei Darussalam prices 192nd Sukuk Ijarah issuance at BN$15 million (US$11.17 million)
INDONESIA: Bank Danamon Indonesia launches cash Waqf service following appointment as official institution receiving cash Waqf
BAHRAIN: Investcorp appoints Mohammed Al Sada as head of Bahrain and Kuwait for private wealth
SAUDI ARABIA: National Commercial Bank to redeem 2015 Tier 1 Sukuk worth SAR2.7 billion (US$718.68 million) in full
MALAYSIA: Maybank Islamic prints two Islamic commercial papers totaling RM1 billion (US$245.3 million)
MALAYSIA: Bank Negara Malaysia issues two Shariah papers
TURKEY: Albaraka Turk Katilim Bankasi sells TRY150 million (US$19.82 million) lease certificates
QATAR: Al Khaleej Takaful Insurance Co records increase in net profit for 2020 amounting to QAR33.99 million (US$9.25 million)
MALAYSIA: FWD Takaful launches RM1 million (US$246,368) COVID-19 Vaccine Special Fund for eligible customers
IRAQ: Central Bank of Iraq changes all interest imposed by banks and guarantor companies to diminishing rates
GLOBAL: Bank Syariah Indonesia and Dubai Islamic Bank to collaborate on global Sukuk, capacity-building and Shariah product development
AUSTRALIA: Plenti introduces interest-free buy-now-pay-later financing option to fund solar projects in Australia
SRI LANKA: Amana Bank’s Gold Certificate Financing increases emergency cash amount up to LKR70,000 (US$355.16)
PAKISTAN: BankIslami partners with Pakistan International Airlines to co-brand aircraft
GLOBAL: Islamic Corporation for the Insurance of Investment and Export Credit signs reinsurance agreement to support Jordanian economy
MALAYSIA: Shahril Azuar Jimin joins Maybank Group as chief sustainability officer
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...