KUWAIT: Mezzan Holding Company signs market maker agreement on shares with KFH Capital Investment Company
GLOBAL: IsDB and The World Academy of Sciences collaborate to offer joint research and technology transfer grant to qualified women researchers
UK: Offa completes Shariah compliant rebridging facility worth GBP826,000 (US$1.15 million) for London properties
SAUDI ARABIA: Saudi Arabia’s insurance sector witnesses 2.3% growth as total written premiums reach SAR38.78 billion (US$10.34 billion) in 2020
KUWAIT: Kuwait International Bank partners with Mobiquity to design bank’s digital transformation
GLOBAL: IsDB and South Center release policy paper on strategies for South–South and triangular cooperation
INDONESIA: Five conventional banks to exit Aceh as province implements fully Islamic financial system
UZBEKISTAN: Trustbank signs agreement with ICS Financial Systems for Islamic banking software solution
SAUDI ARABIA: Arabian Shield Cooperative Insurance Company receives approval from Capital Market Authority for capital increase
PAKISTAN: Faysal Bank signs agreement with Emaar Properties to provide Islamic home financing facilities
PAKISTAN: Summit Bank welcomes Salman Zafar Siddiqi as new CFO
MALAYSIA: HSBC Malaysia launches online investment platform EZInvest offering Islamic and conventional investment funds
UAE: Codebase Technologies launches peer-to-peer payment and fund transfer solution SocialPay
MALAYSIA: Bank Negara Malaysia maintains overnight policy rate at 1.75%
MALAYSIA: Bank Muamalat signs MoU with Malaysia Automotive, Robotics and IoT Institute to develop Automotive Vendor Financing Programme
NIGERIA: Nigerian Exchange Group supports IFN Nigeria OnAir Forum 2021
MALAYSIA: Permodalan Nasional’s chief investment officer, Rizal Rickman Ramli, joins Sime Darby Property as new chairman
MALAYSIA: Permodalan Nasional appoints former chief justice Arifin Zakaria as group chairman
MALAYSIA: Sunway Treasury Sukuk prints RM50 million (US$12.12 million) Islamic commercial paper
MALAYSIA: Bank Negara Malaysia sells three Shariah papers
AUSTRALIA: Hejaz Financial Services to launch Islamic financial advisors network of up to 200 authorized representatives
KAZAKHSTAN: Tayyab engages Shariyah Review Bureau as advisor for newly launched debit cards
LIBYA: Libya to reopen stock market with two Islamic banks’ IPOs and three investment Sukuk issuances
GLOBAL: AAOIFI issues updated version of Auditing Standard for Islamic Financial Institutions 6
INDONESIA: National Zakat Agency signs MoU with Bank Negara Indonesia for Zakat management
EGYPT: First Abu Dhabi Bank commences integration process of Bank Audi Egypt and First Abu Dhabi Bank Egypt
PAKISTAN: Former governor of State Bank of Pakistan Dr Shamshad Akhtar joins Pakistan Stock Exchange as new chairperson
BANGLADESH: Golam Awlia joins NRB Commercial Bank as CEO and managing director
MALAYSIA: Sovereign wealth fund Khazanah Nasional prices dual-tranche US dollar-denominated Sukuk
BANGLADESH: Bangladesh Export Import Company seeks Bangladesh Securities and Exchange Commission’s approval for Sukuk issuance
MALAYSIA: Maybank Islamic to fully purchase outstanding Islamic commercial papers totaling RM1.5 billion (US$364.08 million)
MALAYSIA: Al Aqar Capital redeems three-tranche Islamic medium-term notes totaling RM575 million (US$139.56 million)
TURKEY: TF Varlik Kiralama sells TRY500 million (US$59.96 million) domestic lease certificates to qualified investors
MALAYSIA: Putrajaya Holdings prints RM50 million (US$12.14 million) Islamic medium-term note with a profit rate of 3.6%
MALAYSIA: Bank Negara Malaysia issues two short-term Islamic papers
TURKEY: Albaraka Turk Katilim Bankasi auctions TRY50 million (US$6 million) lease certificates
TURKEY: Fitch affirms Ziraat Bankasi’s long-term rating at ‘B+’ with a negative outlook
OMAN: Alizz Islamic Bank to offer home financing solutions to clients of Zain Property Development
GLOBAL: AAOIFI releases Arabic version of accounting standard for Waqf institutions
GLOBAL: Securities Commission Malaysia collaborates with UK’s Oxford Centre for Islamic Studies to offer fellowship in Islamic finance
PAKISTAN: Meezan Bank and Export-Import Bank of Pakistan partner up to provide Islamic finance consulting for corporates and SMEs
SAUDI ARABIA: Walaa Cooperative Insurance Company renews license for another year
SAUDI ARABIA: SABB Takaful Company enters into bancaTakaful deal with Saudi British Bank
SRI LANKA: LOLC Al-Falaah supports IFN OnAir Roadshow Sri Lanka 2021
BANGLADESH: Gazi Golam Ashria joins Jamuna Bank as new chairman
MALAYSIA: S P Setia seeks Securities Commission Malaysia’s approval to establish RM3 billion (US$727.98 million) Sukuk Wakalah program
INDONESIA: Mora Telematika Indonesia lists two-tranche Sukuk Ijarah on Indonesia Stock Exchange
CANADA: Wealthsimple raises US$750 million, bringing valuation to US$5 billion
MALAYSIA: Tanjung Pinang Development auctions three unrated Islamic medium-term notes
INDONESIA: Indonesia raises IDR10 trillion (US$691.76 million) from Sukuk auction
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
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...
The Standards and Metrology Institute for Islamic Countries and Turkey’s Independent Industrialists’ and Businessmen’s Association in March joined forces to work on improving the country’s Halal standardization capacity and raise awareness and investment in the...