JORDAN: Jordan Islamic Bank signs partnership agreement with Social Security Corporation to offer Daman Pay services to bank customers
MALAYSIA: Takaful Ikhlas fulfills Zakat obligations totaling RM446,835 (US$105,572) for financial year ended the 31st March 2021
IRAN: Securities and Exchange Organization of Iran signs agreement with central bank to establish settlement bank
GLOBAL: Banque Sahelo-Saharienne Pour L’Investissement Et Le Commerce prepares for establishment of Islamic windows
INDONESIA: New UN program in Indonesia aims to tap innovative financing instruments including Islamic capital to fill sustainable development goals funding gap
INDONESIA: Vice-President Ma’ruf Amin urges regulatory authorities to issue regulation and guideline to boost digital Shariah economy
INDONESIA: Bank BCA Syariah inaugurates new sub-branch office in Banyuwangi City
PAKISTAN: Dubai Islamic Bank Pakistan introduces Johara Account for women
BANGLADESH: City Bank launches redesigned Islamic banking service
INDONESIA: Indah Kiat Pulp & Paper issues three-tranche Sukuk Mudarabah worth IDR738.8 billion (US$50.81 million)
INDONESIA: Garuda Indonesia defers repayment of outstanding Sukuk worth US$500 million
BRUNEI: Brunei Darussalam Central Bank prices 52nd issuance of BDCB Islamic-Bills at BN$27 million (US$19.66 million)
MALAYSIA: Bank Negara Malaysia issues two Islamic liquidity management papers
TURKEY: Albaraka Turk Katilim Bankasi auctions lease certificates worth TRY100 million (US$7.28 million)
BRUNEI: BIBD Securities unveils Arabesque Global ESG Momentum Flexible Allocation Fund
MALAYSIA: Axis REIT raises RM334.7 million (US$79.08 million) from private placement exercise
ALGERIA: Takaful companies to open doors in Algeria before end of 2021, according to prime minister
SAUDI ARABIA: Mediterranean and Gulf Cooperative Insurance and Reinsurance Company strikes one-year deal with Saudi Electricity Company
MALAYSIA: RAM reaffirms ‘AA2/Stable’ rating on Kesas’s RM735 million (US$173.75 million) Sukuk Musharakah
SAUDI ARABIA: Wa’ed and RAED Ventures invests SAR19 million (US$5.06 million) in fintech startup Lamaa
GLOBAL: Royal Award for Islamic Finance calls for global nominations; introduces Emerging Leader Prize and the Impact Challenge Prize
GLOBAL: Responsible Finance & Investment Foundation publishes research findings supporting Islamic ESG proposition
GLOBAL: MRHB DeFi receives investment from Shanghai’s Sinofy Group
INDONESIA: Bank Syariah Indonesia launches Electronic Data Capture and Quick Response Code Indonesian Standard machines in Aceh
INDONESIA: Telkom Indonesia collaborates with peer-to-peer financier ALAMI Sharia to provide agricultural financing
GAMBIA: APS Islamic Microfinance launches in Gambia
AUSTRALIA: Amirsan Roberto joins MRHB DeFi as head of investments and partnerships
MALAYSIA: CIMB Islamic Bank to launch Hibah-based Takaful products
BANGLADESH: Bangladesh Finance signs agreement with Leeds Corporation to implement Islamic core banking platform
AUSTRALIA: Michael Trist joins Hejaz Financial Services as general manager of sales and distribution
SAUDI ARABIA: SEDCO Holding appoints Rayyan Mohammed Nagadi as new CEO
MALAYSIA: Sunway Treasury Sukuk prints RM25 million Islamic commercial paper
MALAYSIA: Prasarana Malaysia auctions three Islamic medium-term notes totaling RM350 million (US$82.74 million)
INDONESIA: Steel Pipe Industry of Indonesia lists two-tranche Sukuk Ijarah worth IDR150 billion (US$10.42 million) on Indonesia Stock Exchange
MALAYSIA: Bank Negara Malaysia prints Murabahah and Qard papers to facilitate liquidity management
SAUDI ARABIA: Al Sagr Cooperative Insurance Co posts net loss before Zakat of SAR18.92 million (US$5.04 million)
MALAYSIA: Hong Leong Bank records decrease in net income from Islamic banking business
MALAYSIA: MNRB Holdings reports higher profits for Family Takaful business while General Takaful business declines in six months ending 30th September 2021
MALAYSIA: Bank Islam Malaysia makes 19.3% gain in pre-Zakat profit for first nine months of 2021 to RM627.8 million (US$148.98 million)
GLOBAL: Kuwait Finance House to update studies of acquisition of Ahli United Bank Bahrain
KUWAIT: GFH Financial Group sets timetable of revised offer for acquisition of Khaleeji Commercial Bank’s shares
IRAN: Securities and Exchange Organization revises minimum capital adequacy requirements for financial institutions
GLOBAL: General Council for Islamic Banks and Financial Institutions submits comments on three exposure drafts to AAOIFI
SAUDI ARABIA: Aljazira Takaful Taawuni Co agrees to increase capital by issuing new shares
PAKISTAN: Pakistani regulator approves new Family Takaful operator to offer life insurance business
PAKISTAN: United Bank and U Microfinance Bank sign MoU to collaborate on Islamic microfinance, among others
BAHRAIN: Bahrain Development Bank appoints Dalal Al Qais as CEO
MALAYSIA: Penang mulls investment in Sukuk and bond markets
PAKISTAN: Pakistan to raise PKR6.9 trillion (US$39.2 billion) via Sukuk and bonds
SAUDI ARABIA: Rawaj Real Estate Company signs amended lease agreement with Al Rajhi REIT to reschedule unpaid dues
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...