IFN - National government agencies in the Philippines seeking Islamic financing for infrastructure projects

PAKISTAN: VIS assigns final rating of ‘A-1+’ to K-Electric’s PKR5 billion (US$17.61 million) short-term Sukuk
MALAYSIA: RAM assigns ‘AA1/Stable’ rating to UOB Malaysia’s proposed Islamic medium-term notes
SAUDI ARABIA: Moody’s assigns ‘(P)A1’ rating to Saudi Electricity Company’s Sukuk program
GLOBAL: Saudi EXIM Bank signs new credit line agreement with Iraqi Islamic Bank for Investment and Development worth SAR75 million (US$19.97 million)
MALAYSIA: Bank Negara Malaysia standardizes housing loan and home financing agreement for retail borrowers
UK: Neill Gibson retires as partner at Trowers & Hamlins
MALAYSIA: WCT Holdings issues Sukuk Murabahah worth RM100 million (US$22.6 million) with one-year tenor
SAUDI ARABIA: Al Kathiri Holding Co concludes Series 1 offering of Sukuk issuance program
MALAYSIA: Public transportation company Perak Transit issues Sukuk Murabahah worth RM250 million (US$56.5 million)
MALAYSIA: Waste management company Cenviro issues Islamic medium-term note worth RM22 million (US$4.97 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM32.25 billion (US$7.29 billion) in total
MALAYSIA: BGRB Venture issues Islamic medium-term note worth RM4 million (US$903,940) with one-year tenor
GLOBAL: IFSB issues Exposure Draft of the Conduct of Business Supervision in Takaful Undertakings for 60-day public consultation period
SAUDI ARABIA: Aljazira Takaful Taawuni Co to increase capital by 20% to SAR660 million (US$175.75 million) through granting bonus shares
SAUDI ARABIA: Saudi AZM for Communication and Information Technology Co signs non-binding MoU to fully acquire AZM FinTech
BAHRAIN: Central Bank of Bahrain issues regulatory amendments to include digital token offerings in framework for regulated crypto-asset activities
GLOBAL: IFSB celebrates 20th anniversary, growing from nine to 187 members around the world across 57 jurisdictions
SAUDI ARABIA: Al Rajhi Bank completes US$1 billion senior unsecured sustainable Sukuk offering; settlement on the 5th April 2023
GLOBAL: IsDB’s trade finance arm signs agreements worth US$725,000 with Egypt and Palestine to support agro-food and handicraft sectors
EGYPT: Egyptian Exchange and Financial Regulatory Authority confirm imminent launch of sustainable Sukuk and Islamic index
MALAYSIA: Gobi Partners onboards senior care service provider into Gobi Dana Impak Ventures fund
UAE: Ahmad Mohammad Khaleel Alseksek resigns as independent non-executive member of Takaful Emarat Insurance’s board of directors
MALAYSIA: Cagamas concludes issuance of Islamic and conventional facilities worth RM1.4 billion (US$317 million) in total
BANGLADESH: Shariah compliant wealth management platform Wholesum records consistent returns of more than 10%
MALAYSIA: YTL Power International issues Islamic facilities worth RM215 million (US$48.69 million) in total
SAUDI ARABIA: Rawabi Holding upsizes Sukuk issuance to SAR875 million (US$233.01 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facility worth RM26.84 billion (US$6.08 billion)
UAE: IFN welcomes new correspondent for UAE
GLOBAL: International Islamic Liquidity Management Corporation to auction US$740 million Sukuk facility in three tranches
SAUDI ARABIA: Al Rajhi Bank commences offering period of US dollar-denominated sustainable Sukuk
MALAYSIA: PETRONAS Dagangan proposes establishment of Sukuk Wakalah programs with combined limit of up to RM10 billion (US$2.26 billion)
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

National government agencies in the Philippines seeking Islamic financing for infrastructure projects

Features
Mary Rose Magsaysay
30/04/2018
0

The Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) is the only Islamic bank in the country and is headed by Alex P Bangcola, the chairman of the board who took the oath on the 17th February 2017. The AAIIBP was first established as the Philippine Amanah Bank by virtue of Presidential Decree No 264 by the then Philippine president, Ferdinand E Marcos. The growth of Islamic finance in the Philippines therefore officially can be easily monitored by the continuous....

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