KUWAIT: Central Bank of Kuwait directs banking sector to nationalize leadership roles
UAE: NMC Healthcare files lawsuit against Dubai Islamic Bank
TURKEY: Participation Bank Association of Turkey releases 2021–25 Participation Banking Strategy Update Report outlining 10 strategies
PAKISTAN: Securities and Exchange Commission of Pakistan rolls out online facility to facilitate issuance of digitally certified true copies of mortgage register and statutory returns
INDONESIA: National Zakat Agency joins hands with Bank Syariah Indonesia to harness IDR300 trillion (US$20.5 billion) Zakat potential
MALAYSIA: BIMB Holdings issues 222.22 million new shares to raise an estimated RM795.6 million (US$192.58 million)
INDONESIA: Bank BCA Syariah signs cooperation agreement with Ministry of Religious Affairs to improve Hajj management services
INDONESIA: Integra Indocabinet lists two-tranche Sukuk Mudarabah on Indonesia Stock Exchange
UAE: Dubai Islamic Bank prices perpetual additional Tier 1 Sukuk at US$500 million with a profit rate of 3.38% per annum
GLOBAL: Islamic Corporation for the Development of the Private Sector collaborates with Arab Tourism Organization to establish tourism development framework for Arab region
OMAN: Tariq Atiq assumes role of chief retail and digital banking officer at National Bank of Oman
TURKEY: Ziraat Participation Bank makes return payments to holders of TRY350 million (US$43.21 million) lease certificates
IRAN: Saba Tamin Investment Company auctions Sukuk Ijarah worth IRR10 trillion (US$236.91 million)
BAHRAIN: Ithmaar Holding and BBK extend acquisition due diligence by three months
TURKEY: Ministry of Treasury and Finance of Turkey collects 9,827 kilograms of gold for lease certificates
MALAYSIA: Tropicana Corporation prints two Islamic medium-term notes totaling RM183 million (US$44.3 million)
MALAYSIA: Sabah Credit Corporation auctions RM150 million (US$36.31 million) Islamic medium-term note with a profit rate of 2.85%
MALAYSIA: Infracap Resources sells 11 Islamic medium-term notes totaling RM5.75 billion (US$1.39 billion)
MALAYSIA: Imtiaz Sukuk II to issue two Sukuk Wakalah papers totaling RM1 billion (US$242.06 million)
MALAYSIA: Gamuda prints Murabahah-based Islamic commercial paper
MALAYSIA: Malaysia issues RM2.5 billion (US$605.15 million) Government Investment Issue Murabahah paper
SAUDI ARABIA: Riyad Capital and BNP Paribas Securities Services to provide joint servicing proposition
MALAYSIA: Infracap Resources secures final ‘AAA(s)/Stable’ rating for RM15 billion (US$3.63 billion) Sukuk Murabahah program
PAKISTAN: Meezan Bank to provide payment and collection services to Tufail Group through digital platform eBiz+
NIGERIA: TAJBank rolls out NQR payment platform powered by Nigeria Inter-Bank Settlement System to offer fast and instant payments
KENYA: Gulf African Bank partners with Toyotsu Auto Mart Kenya to offer Islamic vehicle financing
EGYPT: First Abu Dhabi Bank expects to complete Bank Audi Egypt acquisition by end of 2021; market share to hit up to 5% post-purchase
UAE: SHUAA Capital announces promotions of two senior executives
SAUDI ARABIA: Gulf Union Alahlia Cooperative Insurance Co appoints Mesheal Ibrahim Al Shayea as new CEO
SAUDI ARABIA: Saudi Enaya Cooperative Insurance Company receives regulatory approval on appointment of two new board members
MALAYSIA: Kenanga Investors debuts Kenanga Waqf Al-Ihsan Fund
PHILIPPINES: Al Amanah Islamic Investment Bank Director Miguel C Abaya passes away
INDONESIA: Bank Syariah Indonesia targets to distribute IDR2 trillion (US$136.57 million) through Housing Financing Liquidity Facility in 2021
UAE: National Takaful Company approves 7.5% dividend payment to shareholders for 2020
QATAR: Qatar Islamic Bank posts increase in net profit for first quarter of 2021
MALAYSIA: Bank Kerjasama Rakyat Malaysia declares 13% dividend for 2020 financial year
BAHRAIN: Al Salam Bank Bahrain launches newly revamped Danat Savings Scheme for 2021
UAE: Abu Dhabi Islamic Bank defers installment repayments on personal financing for one month during Ramadan
NIGERIA: National Hajj Commission of Nigeria and Jaiz Bank roll out Hajj Savings Scheme in Benue state
CAMEROON: International Islamic Trade Finance Corporation and Cameroonian government sign two agreements to support key sectors
MALAYSIA: AIA Public Takaful appoints Mahani Amat as board chairperson
BAHRAIN: Oil and Gas Holding Company issues US$600 million Sukuk with profit rate of 5.25%
MALAYSIA: Maybank Islamic completes early full redemption of Islamic commercial papers
TURKEY: Kuveyt Turk Katilim Bankasi sells lease certificates worth TRY200 million (US$24.54 million)
INDONESIA: Indonesia targets IDR10 trillion (US$682.84 million) in upcoming Sukuk auction
GLOBAL: International Islamic Liquidity Management Corporation reissues three-tranche short-term Sukuk paper totaling US$1.1 billion
GAMBIA: Central Bank of Gambia’s Sukuk Salam papers oversubscribed
MALAYSIA: Bank Negara Malaysia issues two Islamic liquidity management papers totaling RM18.15 billion (US$4.39 billion)
TUNISIA: Remaining near-term pressures land negative outlook on Wifak International Bank’s ‘BB-(tun)’ national long-term rating
MALAYSIA: Tulus partners with Touch ’n Go; to facilitate Zakat payments for nine states during Ramadan
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...