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ISDB PSF Awards 2023

Volume 14 Issue 03

Date of Issue: Wednesday, 18 Jan 2017







REDmoney Indexes:


REDmoney Events:



Central Bank of Bahrain announces 100% subscription of sovereign Sukuk
International Islamic Liquidity Management Corporation auctions US$1.11 billion short-term Sukuk
Sabah Credit Corporation upsizes RM3.5 billion (US$781.99 million) Sukuk Musharakah program 
Sunway Treasury Sukuk issues 174th Islamic commercial papers worth RM120 million (US$26.81 million)
Africa Finance Corp to launch Sukuk by early February
Masraf Al Rayan mandates banks for a US$500 million Sukuk issuance
Saudi Arabia plans Sukuk sale as early as February to help finance budget deficit
Nogaholding engages banks for potential dollar Sukuk/bond sale
Central Bank of Bahrain announces 100% subscription of Sukuk Salam
Sunway Treasury Sukuk to issue 177th Islamic commercial papers worth RM100 million (US$22.4 million)


IDB affirms support for the Republic of Niger’s food security and energy and transport sectors
Amana Bank expands network with new branch in Demetagoda
ZICO Law extends reach to Brunei through new member firm
Philippine Stock Exchange announces updated list of Shariah compliant stocks; adds four new securities
Halal Industry Development Corporation targets Asia for Halal markets development in 2017
Securities Commission anticipates companies to raise between RM90 billion (US$20.11 billion) and RM105 billion (US$23.46 billion) in capital this year
Pakistan’s subcommittee on taxation makes recommendations to facilitate Islamic finance; proposes tax exemptions for immovable property among others
Herbert Smith Freehills gains Qualified Foreign Law Firm license in Malaysia; to focus on Islamic finance transactions
Chartered Institute of Islamic Finance Professionals issues code of ethics and standards of professional conduct


Awqaf and Minors Affairs Foundation spends 84% of total budget on Islamic affairs in 2016
Employees Provident Fund’s Simpanan Shariah reaches over 59% in take-up rate; allocates RM50 billion (US$11.2 billion) as further injection for 2018


Capital Investment to advise Malath Insurance and Reinsurance Cooperative Company on capital raise 
Solidarity Saudi Takaful Company requests Capital Market Authority’s approval to cut capital
Orient UNB Takaful to list on Dubai Financial Market following successful IPO
 Askrindo Syariah expects Ujrah income to hike by 37% this year
Agrobank launches Takaful coverage for persons with disabilities


Northport (Malaysia) receives ‘MARC-1IS’ and ‘AA-IS’ ratings on its Sukuk Musharakah programs
MARC withdraws ratings on Tesco Stores (Malaysia)’s conventional and Islamic medium-term notes programs
RAM assigns ‘AA3/Stable’ rating to Cahya Mata Sarawak’s proposed Islamic medium-term note program
Alliance Islamic Bank receives ‘A1/Stable/P1’ ratings from RAM
Highway concessionaire LEKAS maintains ‘C2/Stable’ Sukuk rating
MARC withdraws ‘AAA-IS(fg)/Stable’ rating on Symphony Life’s guaranteed Islamic medium-term note program 


Arab Bank welcomes new CFO
Mian Muhammad Nazir now CEO of Dar Al Sharia following retirement of Sohail Zubairi
Norashikin Mohd Kassim leaves CIMB-Principal Islamic Asset Management; chief investment officer appointed acting CEO