GLOBAL: Central Bank of Iran dismisses media reports of Bahraini court taking action against central bank and Iranian banks as baseless
PAKISTAN: Pakistan International Airlines’s PIA-Sukuk-I facility to be an approved security for maintenance of liquid assets
SAUDI ARABIA: Al Rajhi Company for Cooperative Insurance signs contract with Al Rajhi Bank to provide insurance coverage
UK: VG signs on as partner to support IFN UK Forum 2021
MALAYSIA: Sarawak, Kenanga Investment Bank and Revenue Group submit application for digital banking license from Bank Negara Malaysia
BANGLADESH: Takaful Islami Insurance re-elects Anwer Hossain Khan as chairman and Abul Hashem as vice-chairman
KUWAIT: Kuwait International Bank appoints Hesham Ahmad Abdullah Al Mubaraki as new general manager of wholesale banking department
KUWAIT: Warba Bank receives approval from Central Bank of Kuwait to issue Sukuk worth US$500 million
MALAYSIA: Infracap Resources sells RM15 billion (US$3.55 billion) Sukuk Murabahah paper
MALAYSIA: Bank Negara Malaysia issues three Shariah papers
SAUDI ARABIA: Alinma Bank posts 24.07% increase in net profit at SAR1.35 billion (US$359.5 million) as at end of June 2021
SAUDI ARABIA: Al Rajhi Bank records 44.1% increase in net profit for first half of 2021
SAUDI ARABIA: Saudi Indian Company for Cooperative Insurance moves to cancel financial reorganization
INDONESIA: Zurich Insurance Company receives Shariah license from regulatory authority
SAUDI ARABIA: Islamic fintech start-up Forus Capital secures Series A funding to expand market share and offerings
GLOBAL: Asian Development Bank signs agreement with Dubai Islamic Bank Pakistan to support trade finance in Pakistan
MALAYSIA: CIMB Bank and CIMB Islamic Bank launch CIMB OctoSavers Savings Account-i and CIMB OctoDebit MasterCard
INDONESIA: Indonesia lists sovereign Shariah securities totaling IDR13.15 trillion (US$909.23 million) on Indonesia Stock Exchange
INDONESIA: Hutama Karya conducts public offering for Sukuk Mudarabah worth IDR500 billion (US$34.57 million)
MALAYSIA: Sunway Treasury Sukuk prints Islamic commercial paper worth RM50 million (US$11.84 million)
MALAYSIA: LBS Bina Group issues RM93 million (US$22.02 million) Sukuk Musharakah paper
MALAYSIA: Gas Malaysia Distribution sells RM200 million (US$47.36 million) Islamic commercial paper
INDONESIA: Otoritas Jasa Keuangan revokes Shariah license of Madani Emas Nusantara Islamic Microfinance Institution Cooperative
MALAYSIA: Bank Negara Malaysia issues three Islamic liquidity management papers totaling RM19.82 billion (US$4.69 billion)
UAE: Abu Dhabi Islamic Bank records profit after Zakat and tax of AED1.12 billion (US$304.86 million) for first half of 2021
GLOBAL: Eiger supports IFN Europe Forum 2021
SAUDI ARABIA: AlAhli Takaful Company signs bancassurance distribution agreement with Saudi National Bank
SAUDI ARABIA: Takween Advanced Industries conducts partial early settlement worth SAR152.3 million (US$40.56 million)
OMAN: Takaful Oman to conduct Sukuk profit distribution of OMR255,000 (US$660,429)
GLOBAL: S&P Ratings anticipates credit ratings on GCC’s Takaful and conventional industry to remain stable
MALAYSIA: RAM reaffirms ‘AA3/Stable’ rating on Solar Management (Seremban)’s RM260 million (US$61.38 million) green Sukuk paper
MALAYSIA: RAM downgrades ratings on Menara ABS’s RM345 million (US$81.44 million) Sukuk
MALAYSIA: MARC affirms CIMB Islamic Bank’s financial institution ratings at ‘AAA/MARC-1/Stable’
PAKISTAN: Silkbank selects Temenos Infinity digital banking platform
MALAYSIA: CGS-CIMB Securities launches iCash Trading Account and the Islamic Share Margin Financing facility
MALAYSIA: Sunway Treasury Sukuk sells RM40 million (US$9.44 million) Islamic commercial paper
TURKEY: Turkiye Emlak Katilim Bankasi prints lease certificates worth TRY82.77 million (US$9.73 million)
MALAYSIA: Malaysia issues RM3.5 billion (US$826.23 million) Government Investment Issue Murabahah paper with a profit rate of 3.47%
SAUDI ARABIA: Saudi Real Estate Company reaches final stage to liquidate Alinma Real Estate Fund
SAUDI ARABIA: Capital Market Authority of Saudi Arabia approves public offering of Al Rajhi Saudi Freestyle Equity Fund
QATAR: QIIB records an increase of 6.1% in net profit for first half of 2021
UAE: Emirates Islamic posts net profit of AED569 million (US$154.88 million) for first half of 2021
UAE: Dubai Islamic Bank records total income of AED5.84 billion (US$1.59 billion) in first half of 2021
BAHRAIN: Fitch affirms Ahli United Bank’s long-term issuer default rating and viability rating at ‘BB+’ and ‘bb’ respectively
QATAR: Islamic finance assets in Qatar reach an estimated QAR528 billion (US$144.22 billion)
SAUDI ARABIA: Alkhorayef Water and Power Technologies signs SAR199 million (US$52.99 million) Islamic agreement with Banque Saudi Fransi
GLOBAL: QIIB discusses investment opportunities in Sudan
US: Islamic neobank Fardows to offer Islamic checking accounts and robo-advisory this year
EGYPT: Banque Misr and BM Lease extend EGP700 million (US$44.5 million) in Islamic financing to Bonyan for Development and Trade
INDONESIA: Bank BTPN Syariah disburses financing worth IDR10.05 trillion (US$693.28 million) in second quarter of 2021
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
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...
Malaysia’s Top Glove Corporation, through its fully-owned subsidiary TG Excellence, in February made market history with the issuance of a RM1.3 billion (US$310.4 million) perpetual Sukuk that achieved the lowest yield ever for a corporate...
Halpro Engineering, a special purpose company set up by Malaysian contractor Majulia and German alternative energy firm Greencells to develop solar plants, was in October awarded the highest possible rating for its proposed RM195 million...
In August 2019 Dubai-based The First Group (TFG), one of the largest privately-owned real estate developers in the emirate, issued a US$135 million secured amortizing Sukuk, listed on the London Stock Exchange (LSE)’s International Securities...
Malaysia’s national water company, Pengurusan Aset Air Berhad (PAAB), at the start of July placed an Islamic paper totalling RM1.1 billion (US$266.06 million), made up of three tranches. The issuance, the latest in a long...
Indonesia’s Aneka Gas, one of the country’s biggest industrial gas companies, in March launched a public offering for Shelf-Registered Bonds I Phase III 2019 amounting to IDR180 billion (US$12.8 million) and Shelf-Registered Sukuk I Phase...
In February 2019, Almarai Company, one of Saudi Arabia’s largest conglomerates and the world’s biggest vertically integrated dairy company, launched its debut international Islamic offering to immense demand — with an orderbook oversubscribed 11 times,...
In late December 2018 yet another Malaysian corporate joined the thriving domestic Sukuk market with the debut issuance of RM165 million (US$40.5 million) in Islamic medium-term notes, under a RM300 million (US$73.6 million) program. Facilities...
Malaysian property developer Exsim Development made history in November, becoming the first company in Malaysia to monetize unbilled sales from multiple development projects to finance a RM290 million (US$69.6 million) Sukuk, the first tranche to...
The second Sukuk issuance from environmentally-friendly property developer EcoWorld demonstrates the growing appeal of the Islamic debt capital market for companies seeking to raise finance for overseas expansion on a socially responsibly basis – without...