MALAYSIA: UEM Group maintains ‘AA2/Stable’ Sukuk rating despite weaker stand-alone credit profile as government support continues
SAUDI ARABIA: Moody’s withdraws Malath Cooperative Insurance Company’s ‘Baa2’ insurance financial strength rating citing business reasons
MALAYSIA: RAM reaffirms ‘AAA/Stable’ rating on Suria KLCC’s RM600 million (US$143.54 million) Sukuk
MALAYSIA: RAM reaffirms Export-Import Bank of Malaysia’s ratings including ‘gA2(s)/Stable’ rating on US$1 billion multicurrency Sukuk program
MALAYSIA: RAM reaffirms Cagamas’s Sukuk ratings
MALAYSIA: AmBank Islamic secures ‘AA3/Stable/P1’ ratings reaffirmation
INDONESIA: Indonesian Hajj-managed funds grow 9.64% in 2021 to IDR158.88 trillion (US$11.1 billion), exceeding yearly target of IDR155.92 trillion (US$10.9 billion)
UAE: Sharjah Islamic Bank receiving nominations for membership of board of directors until the 22nd January
PAKISTAN: U Microfinance Bank launches first Islamic banking branch
INDONESIA: Hutama Karya lists IDR313 billion (US$21.88 million) Sukuk Mudarabah on Indonesia Stock Exchange
MALAYSIA: KPJ Healthcare secures ‘AA-IS(CG)’ preliminary rating for Sukuk Wakalah program of up to RM3 billion (US$716.35 million) to be issued by Point Zone
GLOBAL: Citi to sell consumer banking franchises in Malaysia, Indonesia, Thailand and Vietnam to UOB Group
BANGLADESH: Rupali Bank implements Millennium Information Solution’s Islamic core banking system in preparation of Shariah window launch
MALAYSIA: Invest Shariah Corporate Conversation 2022 by Bursa Malaysia and CGS-CIMB Securities taking place on the 20th January
INDONESIA: Bank Syariah Indonesia inaugurates new priority banking branch; assets under management from priority banking exceeds IDR50 trillion (US$3.49 billion)
MALAYSIA: HSBC Bank Malaysia names CIMB banker Omar Siddiq as CEO
SRI LANKA: Amana Takaful Life Insurance appoints three new directors
GLOBAL: Kuwait Finance House, Standard Chartered Bank and Maybank Islamic top primary dealers league for Islamic Liquidity Management Corporation’s 2021 Sukuk program
GAMBIA: Gambian government’s three Sukuk Salam offerings oversubscribed
MALAYSIA: Bank Negara Malaysia issues several Islamic liquidity management facilities to the tune of RM18.75 billion (US$4.49 billion)
BANGLADESH: Bangladesh Export Import Company begins trading green Sukuk on Dhaka Stock Exchange
UAE: Abu Dhabi Islamic Bank raises over AED587 million (US$159.79 million) via new flagship global Sukuk fund
SAUDI ARABIA: Al Alamiya for Cooperative Insurance receives approval to appoint Abdulaziz Hasan as chairman and Dr Tariq AlNaeem as vice-chairman
UAE: Mark Nicholas Curtis no longer CEO of ADGM Authority, reveals Abu Dhabi Global Market
EGYPT: Palm Hills Development Company preparing to raise EGP3 billion (US$190.5 million) via Sukuk in first quarter
MALAYSIA: Maybank Islamic raises RM1 billion (US$239.78 million) through Islamic commercial papers
MALAYSIA: KPJ Healthcare to set up RM3 billion (US$716.35 million) sustainable Sukuk Wakalah program
MALAYSIA: Cagamas issues RM300 million (US$71.63 million) three-month Islamic paper
MALAYSIA: Bank Negara Malaysia issues RM17.81 billion (US$4.25 billion)-worth of overnight Murabahah money market facility
US: Invesco launches Islamic exchange-traded fund; lists on London and Swiss exchanges
MALAYSIA: Sunway Treasury Sukuk issues RM50 million (US$11.94 million) one-month Islamic commercial paper
BANGLADESH: Shahjalal Islami Bank concludes BDT5 billion (US$57.18 million) Sukuk Mudarabah offering
SAUDI ARABIA: Saudi National Bank raises US$750 million through five-year Sukuk to fund environmentally friendly projects
SAUDI ARABIA: Tadawul commences delisting process of AlAhli Takaful Co’s shares following merger with Arabian Shield Cooperative Insurance Co
SAUDI ARABIA: SABB unveils Shariah compliant green deposit product
SAUDI ARABIA: Narmo Capital secures Capital Market Authority license to deal with securities
SAUDI ARABIA: Bayt Alnomow amends business profile to include managing investments and arranging securities business
MALAYSIA: Yayasan Hijrah Selangor partners with Shoraka Global Resources to facilitate migration into Islamic finance space via fintech
NIGERIA: Hamid Joda takes over as CEO of TAJBank following departure of Norfadelizan Abdul Rahman
SAUDI ARABIA: Aljazira Takaful renews license for another year
MALAYSIA: MEX II suffers Sukuk rating downgrade following non-payment
MALAYSIA: RAM upgrades rating on Bumitama Agri’s RM2 billion (US$476.64 million) Sukuk Musharakah to ‘AA2/Stable’
SAUDI ARABIA: Saudi Arabia welcomes launch of Banking and Financial Disputes Ombudsman Center
SAUDI ARABIA: Saudi Central Bank updates debt crowdfunding rules to redefine beneficiary and define aggregate accounts
SAUDI ARABIA: Alhasoob Co secures SAR7.5 million (US$2 million) short-term Islamic financing to support expansion plans
PAKISTAN: Faysal Bank on track to convert into fully-fledged Islamic bank; 11 conventional branches remain
SINGAPORE: iMAL R14.5 receives AAOIFI compliance certification
PAKISTAN: TPL Life Insurance enters into bancaTakaful partnership with Dubai Islamic Bank Pakistan to offer unit-linked Takaful schemes
OMAN: Finance minister issues decision to establish Supreme Shariah Supervisory Board for Capital Market Authority
GLOBAL: S&P Dow Jones Indices reaffirms Islamic finance commitment; signs on as partner for IFN Asia Forum 2022 and IFN Green & Sustainable Finance Forum 2022
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
Since bursting onto the Islamic bond market in 2017 with its debut US$9 billion Sukuk issuance, Saudi Arabia has shown no signs of slowing down – quite the opposite in fact. The first quarter of...
Malaysia continues to display a healthy Shariah compliant capital market despite a worrying slowdown in domestic economic performance for 2019 amid political paralysis and industrial depression – confirming the role of Islamic finance market as...
Malaysia’s first financial guarantee insurer, Danajamin Nasional, is on a mission. Occupying a unique position in the country’s financial landscape, Danajamin has played a key role in facilitating liquidity, supporting issuance and democratizing the capital...
Financial institutions have shown the way for 2019 with a rush of issuances as banks scramble to sort out their capital requirements for the coming year. While they may not be your typical corporate, bank...
In our last issue of the year, instead of taking you through the same tired old statistics or extolling the virtues of Islamic issuance ad nauseam, we thought it might be more interesting to take...
Despite the economic headwinds, Sukuk performance for 2018 is looking positive, with Moody’s Investors Service in the third quarter (Q3) predicting global issuance to break the US$100 billion barrier, well in line with 2017 levels...
Blockchain and smart contract protocols could change the global Sukuk industry for the better, according to a bold new statement by S&P Global Ratings released in October. A microfinance start-up in Indonesia has already taken...
After a slow summer, the UAE’s Sukuk market is gathering momentum – with a plethora of deals emerging or announced over the last month that look set to drive the Emirates into the forefront of...
In August 2018, NASDAQ Dubai announced plans to allow retail investors access to its primary Sukuk market – following on the heels of Bursa Malaysia, which made the promise toward the end of 2017. Should...
Love it or hate it, the price of oil is important – not only is it central to global trade and consequently global prosperity, but for many Muslim-majority jurisdictions in the Middle East and Asia,...