IFN Country Analysis
| Country & Regional | ||||
MALAYSIA: Malaysian government and central bank issue Islamic papers
PAKISTAN: State Bank of Pakistan injects PKR743 billion (US$3.46 billion) into banks with 15.11% return rate, The Express Tribune reports
PAKISTAN: Rafah National Savings holds first Shariah board meeting; two Islamic products approved
PAKISTAN: Habib Bank opens new Islamic banking branch in Lahore, The News International reports
SOMALIA: IsDB assures it is working with Somalia to promote socioeconomic development and prosperity
UAE: Dubai Financial Market to allow Dubai Gold and Commodities Exchange licensed brokerage firms to become derivatives members
PAKISTAN: State Bank of Pakistan automates verification of refinance claims under Export Finance Scheme
MALAYSIA: APM Automotive Holdings issues Islamic medium-term note worth RM50 million (US$11.22 million)
SAUDI ARABIA: Council of Cooperative Health Insurance renews company qualification of Buruj Cooperative Insurance Company for one year
SAUDI ARABIA: Saudi Capital Market Authority board issues resolution to refer two companies to Public Prosecution
MALDIVES: Maldives procures medical equipment for frontline workers and health facilities with funding from IsDB totaling US$34.1 million to date
MALAYSIA: CIMB Islamic Bank to partner with Yayasan Waqaf Malaysia and Yayasan Belia Malaysia for Rider Entrepreneur Programme 2022
MALAYSIA: Malaysia Venture Capital Management welcomes Noor Amy Ismail as COO and Paramjit Singh Gill as chief investment officer
MALAYSIA: Ranhill Solar Ventures proposes Sukuk Murabahah program of up to RM310 million (US$69.54 million); ‘AA3/Stable’ rating assigned
MALAYSIA: BGSM Management issues two Islamic medium-term notes worth RM350 million (US$78.52 million) combined
MALAYSIA: BGRB Venture issues RM4 million (US$897,332) unrated Islamic medium-term note on the 15th August 2022
INDONESIA: Indonesia Stock Exchange lists Sukuk issued by Indah Kiat Pulp & Paper, Sarana Multi Infrastruktur and Kereta Api Indonesia
BAHRAIN: Central Bank of Bahrain’s monthly Sukuk Salam issuance worth BHD43 million (US$113.35 million) oversubscribed
MALAYSIA: Malaysian Ministry of Human Resources launches Shariah compliant financing facility for skilled workers, Bernama reports
MALAYSIA: Al Rajhi Bank Malaysia partners with Darwinbox to digitalize human resources processes
INDONESIA: Indonesian regulatory and financial entities collaborate to encourage younger generation to participate in sustainable investing
SAUDI ARABIA: Bupa Arabia for Cooperative Insurance appoints Loay Hisham Nazer as chairman of board; appoints other board members
ETHIOPIA: Kacha Digital Financial Services to finalize preparatory activities to launch Shariah compliant financial services
INDONESIA: Kereta Api Indonesia raises IDR4.6 trillion (US$313.08 million) through Sukuk and bonds; receives oversubscription of 2.3 times, Kontan reports
UAE: Pure Harvest Smart Farms eyes new Sukuk or conventional bond issuance to support expansion, Salaam Gateway reports
SAUDI ARABIA: Tamam Financing Company launches Murabahah financing to enable instant access to financing and flexible repayment options
OMAN: Oman Cement Company appoints Sohar Islamic Bank as mandated lead arranger for expansion project
OMAN: Bank Nizwa pledges OMR40,000 (US$103,547) to support flood-stricken communities in Rustaq and Al Awabi
GLOBAL: AAOIFI begins digital transformation and process automation journey; appoints Lyst Technologies to assist
MALAYSIA: Meem Gold & Jewellery receives Shariah compliance certification from Elzar Shariah Solutions and Advisory
MALAYSIA: Merchant commerce platform Pine Labs partners with Bank Simpanan Nasional to enable digital Pay Later
MALAYSIA: Malaysian banking associations increase security measures in response to iPay88 cybersecurity incident
UAE: Ajit Vijay Joshi resigns from position as non-independent, non-executive board member of Takaful Emarat Insurance for personal reasons
MALAYSIA: Sunway Treasury Sukuk issues RM50 million (US$11.24 million) one-month Islamic commercial paper
MALAYSIA: Bank Negara Malaysia prints short-term Shariah compliant papers
MALAYSIA: Bank Negara Malaysia and Securities Commission Malaysia to confer 6th Royal Award for Islamic Finance on 4th October 2022 in Kuala Lumpur
PAKISTAN: China Power Hub Generation Company closes short-term Sukuk worth PKR8 billion (US$36.28 million)
SAUDI ARABIA: Zahrat Al Waha for Trading Co renews Islamic financing facility worth SAR148.72 million (US$39.6 million) with Arab National Bank
AFGHANISTAN: IsDB provides US$525,000 to International Federation of Red Cross and Red Crescent Societies to meet humanitarian needs in Afghanistan
PAKISTAN: ZoodPay partners with Neem to introduce Shariah compliant inventory financing to online merchants
SAUDI ARABIA: Cornelius Alexander Ionnes Ankel resigns from Saudi Enaya Cooperative Insurance Co as board member
MALAYSIA: Sabah Credit Corporation issues RM200 million (US$44.95 million) Islamic medium-term note
INDONESIA: Bank Indonesia voices commitment to support development of women Shariah business players to accelerate inclusive economic growth
MALAYSIA: RAM reaffirms ‘AA3/Stable’ rating on Solar Management (Seremban)’s RM260 million (US$58.31 million) ASEAN Green SRI Sukuk (2020/2038)
SAUDI ARABIA: Saudi Electric Company obtains US$3 billion international syndicated facility from 15 entities including Abu Dhabi Islamic Bank
MALAYSIA: Mudajaya Land obtains Islamic financing facilities worth RM55 million (US$12.36 million) from Al Rajhi Banking & Investment Corporation (Malaysia)
UAE: Mohammed Hussain Mohammed resigns from post as board member of Islamic Arabic Insurance Co
UK: Offa welcomes Sayful Rahman as new senior business development manager
SAUDI ARABIA: Al Alamiya for Cooperative Insurance Co appoints Waleed Khalid AL Dhubaib as non-executive board member
MALAYSIA: Gabungan AQRS proposes RM200 million (US$44.95 million) Islamic commercial paper/Islamic medium-term note program