MOROCCO: Morocco to debut Takaful coverage with three products
UK: Digital real estate agency Nested to launch interest-free equity loan
MALDIVES: Bank of Maldives introduces cash financing option for BML Islamic Personal Financing portfolio
AUSTRALIA: Centre for Islamic Economics Australia certifies MRHB DeFI as Shariah compliant
MALAYSIA: A Tech Insure partners with Pertubuhan Keselamatan Sosial and Angkatan Koperasi Kebangsaan Malaysia to offer Qard-based solution
GLOBAL: US-based Aspiration to offer Islamic and conventional sustainable finance solutions in Qatar Free Zones
MALAYSIA: Shariah Advisory Council of Securities Commission Malaysia approves 33 companies as Shariah compliant
MALAYSIA: Islamic financial comparison website SharLife launches in Malaysia
GLOBAL: Delegation from African Union discusses Islamic finance with Bahrain Institute of Banking and Finance
BANGLADESH: Bangladesh House Building Finance Corporation launches new Islamic housing finance product
INDONESIA: Bank Syariah Indonesia signs MoU with LinkAja to increase inclusion and digital financial literacy in Indonesia
INDONESIA: Bank KB Bukopin Syariah opens new branch office in Aceh
MALAYSIA: Yinson Holdings one step closer to issuing RM1 billion (US$236.43 million) Sukuk facility; receives final ‘A+IS’ rating
MALAYSIA: CIMB Group and CIMB Bank set up RM15 billion (US$3.55 billion) Sukuk Wakalah programs
INDONESIA: Bank Muamalat Indonesia eyes IDR2 trillion (US$139.93 million) Sukuk issuance to strengthen capital structure
KUWAIT: Warba Bank receives tender offers amounting to US$101.95 million for outstanding US$250 million Tier 1 capital certificates
MALAYSIA: AME Elite Consortium to establish Shariah compliant AME REIT
SAUDI ARABIA: FALCOM Financial Services appoints Albilad Investment Company as independent custodian for two funds
MALAYSIA: Bank Negara Malaysia places two Shariah papers
MALAYSIA: Cagamas issues RM500 million (US$118.21 million) Islamic medium-term note with a profit rate of 2.33%,
MALAYSIA: Gamuda sells Murabahah-based Islamic commercial paper
MALAYSIA: Idiwan Solar prices unrated RM2 million (US$472,851) Islamic medium-term note
MALAYSIA: Ihsan Sukuk proposes to replace Khazanah Nasional’s role as investment agent in RM1 billion (US$236.43 million) Islamic medium-term note program
MALAYSIA: Setia Fontaines auctions two Islamic medium-term notes totaling RM14 million (US$3.31 million)
PAKISTAN: Securities and Exchange Commission of Pakistan amends regulations to facilitate start-ups in raising equity
IRAQ: Islamic International Rating Agency assigns ‘B/B’ local and foreign currency ratings to Trust International Islamic Bank
MALAYSIA: MY EG Services signs MoU with A Tech Insure for Takaful coverage and road tax renewal
MALAYSIA: FWD Takaful provides funding worth RM250,000 (US$59,355.9) to International Islamic University College Selangor’s research project
SAUDI ARABIA: Saudi Central Bank greenlights Amana Cooperative Insurance Company’s merger with Saudi Enaya for Cooperative Insurance Co
INDONESIA: Otoritas Jasa Keuangan issues sanction to limit business activities of Asuransi Jiwa Syariah Bumiputera
MALAYSIA: MARC affirms ‘MARC-1IS’ and ‘AA-IS’ ratings on Northport Malaysia’s Islamic facilities
UAE: Sharjah Islamic Bank signs cooperation agreement with Ajman Sewerage Company to facilitate payment
PAKISTAN: Meezan Bank-led consortium and EnerTech Water Private sign PKR25.5 billion (US$145.09 million) Islamic syndicated financing deal
GLOBAL: IsDB extends nomination deadline for IsDB Prize for Impactful Achievement in Islamic Economics for the year 2022
GLOBAL: Members of IsDB Group allocate funding for member countries and SMEs
INDONESIA: Indonesia Stock Exchange signs MoU with Hajj Financial Management Agency to develop Indonesia’s Shariah capital market
EGYPT: Egypt secures US$2 billion Islamic-conventional syndicated bank financing
SENEGAL: International Islamic Trade Finance Corporation grants EUR40 million (US$44.87 million) in financing to Senegal National Groundnut Company
UAE: SHUAA Capital in talks to list one or more subsidiaries through IPO
BAHRAIN: Al Salam Bank Bahrain acquires 344,000 treasury shares on Bahrain Bourse
MALAYSIA: Bank Negara Malaysia prices three Islamic liquidity management papers totaling RM25.35 billion (US$6.02 billion)
MALAYSIA: Tenaga Nasional issues four Murabahah- and Wakalah-based Islamic medium-term notes totaling RM3 billion (US$712.27 million)
GLOBAL: Mohammed Hassan Al Naqool Sons Company realizes almost 24% returns on initial investment into Shariah compliant Graphene Ventures Fund
MALAYSIA: Syarikat Takaful Malaysia records RM255.69 million (US$60.93 million) in profit during first nine months
MALAYSIA: EKVE maintains ‘AAA’ rating on guaranteed Sukuk Murabahah of up to RM1 billion (US$238.31 million)
MALAYSIA: RAM reaffirms top ratings on Digi Telecommunications’s Islamic facilities
OMAN: Ahli Islamic launches mobile application for opening of savings account
MALAYSIA: Bursa Securities files originating summons in Kuala Lumpur High Court against Serba Dinamik Holdings
YEMEN: IsDB Group commits US$20 million to support construction of oxygen production stations in Yemen in partnership with World Health Organization and Yemeni government
SAUDI ARABIA: Investcorp launches Saudi-focused Pre-IPO Growth Vehicle
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...