SAUDI ARABIA: Al Rajhi Company for Cooperative Insurance calls for board membership nominations
MALAYSIA: Inland Revenue Board of Malaysia centralizes and decentralizes certain categories of taxpayer files
MALAYSIA: Bank Islam Malaysia extends Revolving Credit-i facility worth up to RM16 million (US$3.96 million) to Thriven Global
SAUDI ARABIA: Salman Nasser Al-Hawawi resigns as independent member of Malath Cooperative Insurance Company’s board
PAKISTAN: Government of Pakistan issues Sukuk Ijarah worth PKR8.25 billion (US$51.39 million) at 9.45% fixed rental rate
GLOBAL: Investcorp acquires software as a service e-commerce solutions provider Unilog
SUDAN: Al Salam Bank Sudan records total assets worth SDG8.05 billion (US$145.09 million) in 2020
QATAR: Qatar Islamic Bank reports net profit of QAR3.07 billion (US$835.94 million) as at end of December 2020
NIGERIA: TAJBank seeks national license from Central Bank of Nigeria for expansion plans
UK: Crowdtolive launches platform for purchasing residential property in the UK under Musharakah structure
MALAYSIA: PayHalal appointed as digital Zakat collection channel by Kelantan Islamic Religious and Malay Customs Council
QATAR: College of Islamic Studies at Hamad Bin Khalifa University launches new volume of Astrolabe featuring papers by graduate students
QATAR: Barwa Real Estate Company signs QAR600 million (US$163.38 million) financing agreement with Qatar Islamic Bank
SAUDI ARABIA: Middle East Paper Company renews SAR101 million (US$26.89 million) Islamic financing facility with Riyad Bank
GLOBAL: Bank of Bahrain and Kuwait and Ithmaar Holding agree on list of assets for potential acquisition
GLOBAL: Bank ABC enters into agreement with Lebanon’s BLOM Bank to acquire latter’s 99.4% stake in Egyptian operations
SAUDI ARABIA: National Commercial Bank appoints banks for potential additional Tier 1 US dollar Sukuk
SYRIA: Al Baraka Bank Syria opens new branch in Safita City, Tartous
GLOBAL: Israeli banks Bank Hapoalim and Bank Leumi Le-Israel sign MoUs with National Bank of Bahrain
KUWAIT: Kuwait International Bank welcomes Manal Adnan Al Rubaian as deputy general manager of internal audit department
MALAYSIA: Bank Negara Malaysia issues RM22.79 billion (US$5.64 billion)-worth of Shariah papers
BAHRAIN: GFH Financial Group acquires 80% stake in Hidd Mall alongside strategic partner
MALAYSIA: Co-opbank Pertama Malaysia exceeds 2020 financial target despite COVID-19
MALAYSIA: MARC affirms ratings on UEM Sunrise’s Shariah papers
MALAYSIA: RAM reaffirms Suria KLCC’s RM600 million (US$148.46 million) Islamic medium-term note program rating at ‘AAA/Stable’
BAHRAIN: Family Microfinance House opens new branch in Budaiya to support individuals and families with limited income
INDONESIA: Indonesia lists six sovereign Shariah securities totaling IDR16 trillion (US$1.14 billion) on Indonesia Stock Exchange
SAUDI ARABIA: Gulf Union Al Ahlia Cooperative Insurance Company concludes sale of fractional shares
MALAYSIA: Standard Chartered Saadiq maintains top ratings as RAM believes ultimate parent will lend support if necessary
MALAYSIA: RAM assigns preliminary ratings to Axis REIT Sukuk’s proposed RM105 million (US$25.98 million) fourth Sukuk issuance
MALAYSIA: Dynasty Harmony’s RM165 million (US$40.83 million) Islamic medium-term notes reaffirmed at ‘AA3/Stable’
PAKISTAN: EMAAR Karachi and Dubai Islamic Bank Pakistan sign deal to promote home financing
BAHRAIN: Investcorp Holdings appoints Frances Townsend as board director
GLOBAL: AAOIFI approves release of Arabic version of governance standard on Shariah compliance function
MALAYSIA: Bank Negara Malaysia announces appointments of external members of Monetary Policy Committee
MALAYSIA: Gamuda issues Murabahah-based Islamic commercial paper
MALAYSIA: George Kent (Malaysia) to issue Islamic papers worth up to RM500 million (US$123.71 million)
INDONESIA: Indonesian government seeking legal consultants for 2021 retail sovereign Sukuk program; appoints new online distribution partner
TURKEY: Albaraka Turk Katilim Bankasi seeks Capital Markets Board of Turkey’s approval to issue lease certificates worth TRY120 million (US$16.23 million)
BRUNEI: Autoriti Monetari Brunei Darussalam prices 11th issuance of AMBD Islamic Bills at BN$43 million (US$32.43 million)
MALAYSIA: Malaysia auctions RM3 billion (US$742.27 million) Government Investment Issue Murabahah paper
MALAYSIA: Sabah Credit Corporation sells RM50 million (US$12.37 million) Islamic commercial paper
GLOBAL: RAM reaffirms ‘AAA/Stable’ rating on Gulf Investment Corporation’s RM3.5 billion (US$864.69 million) Sukuk program
MALAYSIA: MARC assigns ‘MARC-1 IS’ and ‘A+IS’ preliminary ratings to George Kent (Malaysia)’s proposed ICP and IMTN programs respectively
IRAN: Iran issues electronic promissory notes to pay 70,000 coronavirus financing facilities; plans to phase out paper-based promissory notes
MALAYSIA: Affin Islamic Bank extends six-month moratorium to flood victims via Financial Assistance and Instalment Relief Program
NIGERIA: Central Bank of Nigeria issues framework on regulatory sandbox for Nigerian Payments System targeting fintechs
MALAYSIA: HSBC Amanah CEO Arsalaan Ahmed serving gardening leave
BAHRAIN: Naseej partners with Ithmaar Holding to develop BHD40 million (US$105.53 million) residential project
PAKISTAN: Bank of Khyber selects T24 core banking solution by Temenos to increase market share
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
Islamic issuance has been a stalwart for capital-raising within the telecommunications industry across the Gulf and Asia, with companies from Saudi Telecom and Etisalat to Asian giant Axiata getting in on the game. Last month...
Qatar’s first ever international issuance from a local firm was met by strong investor demand, highlighting the continued appetite for Islamic issuance from high grade issuers and emphasizing the opportunities available to local firms looking...
Malaysia-based Sime Darby recently made its third entry to the Islamic bond market with a successful RM2.2 billion (US$546.94 million) despite its recent credit downgrade - showing that even amid turbulent conditions, Islamic transactions can...
Last month Jordanian tourism firm Al-Tajamouat for Touristic Projects, the parent company of TAJ Mall, signed an agreement with Jordan Dubai Islamic Bank (JDIB) and JordInvest to arrange an Islamic bond issuance of JOD45 million...
In November 2015, Oman Air blazed the trail for Shariah compliant financing in its home country with a US$127 million facility representing the first Islamic aviation finance transaction in Oman. The innovative structure, allowing the...
Telecoms firm Axiata in March 2016 successfully tapped the Sukuk market with a benchmark US$500 million 10-year issuance - just four months after it successfully closed a US$500 million five-year Islamic deal in the same...
Al Mulla International Finance Company (AMIFC), a Kuwaiti firm whose interests span multiple sectors including the selling and renting of vehicles, wanted to sell a portfolio worth in excess of US$66 million in order to...
Malaysian property developer UDA Holdings in March raised RM500 million (US$124.8 million) through a syndicated Islamic financing facility with five Malaysian banks. The funds will allow the firm to finance eight property projects with an...
Low oil prices and tightening liquidity have seen debt yields in the Middle East rise, creating an unfavorable situation for issuers seeking to raise capital. However, the successful debut SAR1 billion (US$266.78 million) Islamic issuance...
Mohebi Logistics, one of the largest vertically-integrated supply chain management companies in the Middle East, in November 2015 successfully raised AED400 million (US$108.87 million) in a transaction that broke new ground in the application of...