Islamic fintech and crowdfunding
Tuesday, 22 Dec 2020 | IFN Annual Guide 2021
FeaturesBANGLADESH: Bangladesh Bank auctions Islamic Banks Liquidity Facility receiving one bid worth BDT2 billion (US$18.41 million)
SAUDI ARABIA: Saudi Central Bank grants license to Cigna Worldwide Insurance Company, the first foreign insurance company branch in Saudi Arabia
SAUDI ARABIA: Saudi Investment Bank completes second tranche Sukuk offer worth SAR500 million (US$133.15 million)
UAE: SHUAA Capital to launch Islamic money market fund in second quarter of 2023; records 210% growth of ICC fund’s assets
UAE: Emirates Islamic partners with Plug and Play to find Islamic fintechs and start-ups to collaborate with
PAKISTAN: State Bank of Pakistan injects PKR186 billion (US$672.63 million) in Mudarabah-based open market operation liquidity
GLOBAL: Dubai-based Arzan Wealth provides advisory on Shariah compliant mezzanine financing for healthcare facility in the US
IRAN: Iranian central bank to start trial phase of digital Rial soon
GLOBAL: IsDB establishes IsDB Digital Inclusion Technical Working Group to support digital inclusion strategy
GLOBAL: AAOIFI focus group discusses challenges of accounting and financial reporting under hyperinflation
UAE: Fahim Al Sehhi resigns as CEO of Arab Insurance Company – SALAMA
SAUDI ARABIA: Value Capital Partners Company changes name to Artal Capital Company
MALAYSIA: Bank Negara Malaysia sells Islamic papers worth RM35 billion (US$8.21 billion)
BANGLADESH: Bangladesh Bank holds auction for government Sukuk
MALAYSIA: Pengurusan Air issues two Sukuk papers valued at RM1.51 billion (US$353.09 million) in total
OMAN: Central Bank of Oman grants approval for Sohar International Bank–HSBC Bank Oman merger
QATAR: Dukhan Bank shares to be listed on Qatar Stock Exchange on 21st February 2023
GLOBAL: IsDB extends EUR122.73 million (US$132.45 million) in funding to Cameroon–Chad electricity project
US: Entrex Carbon Market to soon announce Shariah investors
PAKISTAN: Ghani Chemical Industries’s PKR800 million (US$2.9 million) Sukuk facility receives ‘A’ rating
INDONESIA: Kabilah Wisata Internasional issues IDR1.5 billion (US$98,999.1) Sukuk facility
UK: NOMO Bank launches real estate finance product for customers in Middle East
ETHIOPIA: Plans underway to launch Ethiopia’s capital market; to include Shariah compliant products such as Sukuk, says The Reporter Ethiopia
MALAYSIA: Gamuda Land (T12) issues RM150 million (US$35.19 million) Sukuk Murabahah facility
MALAYSIA: DanaInfra Nasional issues a RM600 million (US$140.77 million) Sukuk Murabahah facility
INDONESIA: Cipta Daya Selaras issues IDR364.9 million (US$24,083.2) Sukuk through Shafiq Digital Indonesia’s platform
MALAYSIA: Emraz Travel & Tours expects 12,000 pilgrims to use AmBank Islamic’s Umrah financing this year, Bernama reports
SAUDI ARABIA: Al-Etihad Cooperative Insurance Co to provide coverage for Saudi National Bank
SAUDI ARABIA: Islamic crowdfunding platform Raqamyah secures license from Saudi Central Bank
SAUDI ARABIA: Saudi Capital Market Authority grants fintech experimental permit to Rakeez Capital
MALAYSIA: pitchIN raises funds from Malaysian Technology Development Corporation and Gobi Partners
MALAYSIA: Bank Islam Malaysia appoints Anthony Tai as group chief information security officer
UAE: Net asset value of ENBD REIT reach US$173 million in third quarter of 2022, reports TradeArabia
GLOBAL: Blockchain Takatech start-up Takadao signs MoU with MRHB Network
MALAYSIA: Elzar Shariah Solution grants Rural Capital with Shariah compliance certificate and Shariah pronouncement
US: Fursa Capital’s Islamic crowdfunding platform beta test goes live
BAHRAIN: Tamkeen signs partnership agreements with five insurance companies to train Bahrainis to become qualified actuaries
SAUDI ARABIA: Saudi Arabia’s King Salman appoints Ayman Muhammad Al-Sayyari as new governor of Saudi Central Bank
UAE: Dubai Islamic Bank to issue dollar-denominated sustainable Sukuk under US$7.5 billion issuance program, Reuters reports
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth up to RM33.3 billion (US$7.82 billion)
BANGLADESH: Bangladesh Bank auctions Islamic Banks Liquidity Facility receiving bids worth up to BDT40.65 billion (US$376.97 million)
PAKISTAN: Kistpay partners with Zindgi to offer financing options for smartphone purchases
MALAYSIA: Serba Dinamik Holdings and three subsidiaries apply for temporary stay of winding-up order by Malaysian High Court
SAUDI ARABIA: Saudi regulator approves Allianz Saudi Fransi Cooperative’s motor insurance products
MALAYSIA: RAM lifts rating watch on Besraya (M)’s RM700 million (US$164.5 million) Sukuk Mudarabah; upgrades to ‘AA2’
SAUDI ARABIA: Information technology firm Perfect Presentation for Commercial Services Co secures Islamic banking facility from GIB worth up to SAR50 milllion (US$13.31 million)
RUSSIA: Russia starts experimental pilot project implementing Islamic finance in Muslim-majority regions, Anadolu Agency reports
NIGERIA: Sterling Bank Group’s total assets reach NGN1.87 trillion (US$4.06 billion) in 2022
MALAYSIA: SkyWorld Capital proposes Islamic medium-term note/commercial paper programs worth RM300 million (US$70.3 million); receives ratings of ‘AIS(cg)/MARC-1IS(cg)’ respectively
PAKISTAN: Pakistani fintech Digitt Plus to offer Shariah compliant services under its soon-to-be launched super app; to commence pilot project
Tuesday, 22 Dec 2020 | IFN Annual Guide 2021
FeaturesWednesday, 16 Dec 2020 | Volume18.Issue01
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