Volume 12 Issue 29
Date of Issue: Wednesday, 22 Jul 2015
UK: UK government launches Islamic finance working group
INDONESIA: Islamic digital bank Hijra Bank partners with mortgage solution provider IDEAL Indonesia to launch HijraHome
UAE: SALAMA to reduce capital by 22.35% for the purpose of writing off accumulated losses amounting to AED270.41 million (US$73.58 million)
SAUDI ARABIA: Gulf Union Al Ahlia announces firm intention to make an offer to Al Sagr’s shareholders to proceed with merger
TUNISIA: Banque Zitouna renews term of Nabil El Madani as CEO for another three years
YEMEN: Al Busairi Bank for Microfinance adopts ICS BANKS Islamic Banking solution from ICS Financial Systems
MALAYSIA: Swift Haulage invests RM19.16 million (US$4.34 million) to increase equity stake in Global Vision Logistics to 42.5%
UAE: Dar Al Takaful changes trade name to Watania International Holding
MALAYSIA: Bank Negara Malaysia seeks feedback on exposure draft of Financial Technology Regulatory Sandbox Framework
SAUDI ARABIA: Martin Rueegg resigns as acting CEO of Al Alamiya for Cooperative Insurance Co
MALAYSIA: TNB Power Generation issues Islamic medium-term notes worth RM2 billion (US$452.96 million) in total
KUWAIT: Central Bank of Kuwait issues bonds and related Tawarruq papers worth KWD240 million (US$781.81 million) in total
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM27.51 billion (US$6.23 billion) in total
MALAYSIA: Principal Malaysia launches Principal Islamic Global Responsible Equity Fund
GLOBAL: Hassan Radhi & Associates supports World Islamic Finance Dialogues 2023 as partner
INDONESIA: Mandala Finance to seek approval to issue bonds, Sukuk or other debt securities to support financing distribution, Kontan reports
GAMBIA: Central Bank of Gambia’s three-month, six-month and one-year Sukuk Salam facilities oversubscribed
MALAYSIA: Fitch affirms Sime Darby Plantation Global’s Sukuk program at ‘BBB’
UAE: Omar Saeed Alhemeiri resigns as independent non-executive director of Takaful Emarat for personal reasons
SOMALIA: Swedfund invests US$5 million in Somalia’s Shariah compliant US dollar-denominated Nordic Horn of Africa Opportunities Fund
TURKIYE: Fitch affirms Ziraat Katilim Bankasi’s long-term foreign-currency issuer default rating at ‘B-‘ with negative outlook
SAUDI ARABIA: Ammar Abdul Wahed Al Khudairy resigns as chairman of Saudi National Bank after Credit Suisse fallout
MALAYSIA: AmBank Islamic issues RM150 million (US$33.87 million) Sukuk Murabahah with 10-year tenor
MALAYSIA: TA Investment Management becomes new distributor for Hong Leong Dana Makmur and Hong Leong Dana Maa’rof funds
SAUDI ARABIA: United Cooperative Assurance Co receives final approval from Saudi Central Bank to offer comprehensive motor insurance
MALAYSIA: Bank Negara Malaysia issues Islamic papers worth RM29.8 billion (US$6.73 billion) in total
SAUDI ARABIA: Moody’s Investors Service affirms long-term deposit ratings on 10 Saudi banks
SAUDI ARABIA: Mediterranean and Gulf Cooperative Insurance and Reinsurance Co terminates CEO’s contract for severe lack of performance
UAE: Artificial intelligence-powered big data analytics firm Presight AI lists on Abu Dhabi Securities Exchange
UK: Saudi Venture Capital Investment Company supports IFN UK Forum 2023 as partner
PAKISTAN: SECP and PSX conduct consultative sessions on draft Shariah Governance Regulations, 2023
EGPYT: Abu Dhabi Islamic Bank – Egypt to launch consumer finance company, microfinance company and digital bank
TURKIYE: Beet growers cooperative brand Kayseri Seker to issue TRY100 million (US$5.25 million) Sukuk Wakalah in May 2023
SAUDI ARABIA: Al Rajhi Bank to issue US dollar-denominated sustainable Sukuk
MALAYSIA: Malaysian Islamic capital market grows marginally by 0.6% in 2022, reports Securities Commission Malaysia
MALAYSIA: Maybank Asset Management launches Maybank Income Flow-I Fund; aimed at providing liquidity and consistent income to investors
MALAYSIA: Bursa Malaysia enhances listing requirements to facilitate offering of Islamic REITs and ETFs with Waqf feature
KUWAIT: Fitch affirms Kuwait International Bank at ‘A/Stable’; maintains viability rating on rating watch negative
GLOBAL: Haqq Association signs MoU with International Islamic University Malaysia to explore Islamic finance in academic discipline
TURKIYE: Participation Banks Association of Turkiye requests strengthening cooperation with IsDB Institute in Sukuk, green finance and others
MALAYSIA: Takaful IKHLAS provides research grant worth RM99,150 (US$22,378.5) for Universiti Malaya Halal Research Centre
MALAYSIA: Sunway Treasury Sukuk issues Islamic facilities worth RM480 million (US$108.34 million) in total
ALGERIA: Banque Exterieure d’Algerie to offer new Islamic banking products for private individuals and businesses in 2023
SAUDI ARABIA: SICO Capital Company appoints Saleh AlMahasen as independent member of SICO Saudi REIT Fund’s board of directors
MALAYSIA: Bank Negara Malaysia issues Islamic papers worth RM24.2 billion (US$5.46 billion) in total
KUWAIT: Kuwait Finance House appoints Sura Sharia Consultancy Co as external Shariah auditor for 2023
JORDAN: Jordan Post Company signs agreement with fintech start-up Money for Finance to offer financial services for individuals
TURKIYE: Turkiye Emlak Katilim Bankasi issues first green Sukuk of recycling sector
GLOBAL: Insurance arm of IsDB organizes capacity-building program for users of OIC Business Intelligence Center to access financing
JORDAN: Jordan’s Military Credit Fund will not raise Murabahah rates if central bank raises them