Kyrgyzstan continues developing Islamic finance industry
Monday, 17 Jan 2022 | IFN Annual Guide 2022
FeaturesUAE: First Abu Dhabi Bank launches new sustainable current account enabling corporate clients to contribute to sustainable development
UAE: Zaheer Iqbal resigns from position as CFO of Islamic Arab Insurance Company due to personal reasons effective the 23rd May 2022
UAE: Dubai Properties Group and TECOM Investments FZ transfer entire respective holdings in Emirates REIT to DH 6
PAKISTAN: Islamic assets in Pakistan grow by average of 24% per annum over past decade, says Moody’s
MALAYSIA: Microfinancier Hijrah Selangor acquires Shariah compliant status
UAE: Property developer Arada Developments hires banks for dollar Sukuk issuance
TURKEY: Kuveyt Turk completes first international Islamic transaction within FCI; launches open account export product
AZERBAIJAN: Islamic Corporation for the Development of the Private Sector and Alat Free Economic Zone Authority of Azerbaijan sign MoU
MALAYSIA: Bank Muamalat Malaysia launches EasiGold investment platform
EGYPT: International Islamic Trade Finance Corporation extends additional US$3 billion in funding to Egypt due to increase in wheat prices
SAUDI ARABIA: Saudi Ministry of Finance’s National Debt Management Center closes May 2022 Sukuk offering worth SAR14.95 billion (US$3.98 billion)
INDONESIA: Fitch assigns ‘BBB’ rating to Indonesian government’s proposed US dollar-denominated sovereign Sukuk
GLOBAL: International Islamic Liquidity Management Corporation reissues US$600 million-worth of short-term ‘A-1’-rated Sukuk
KUWAIT: Central Bank of Kuwait issues KWD240 million (US$782.72 million)-worth of bonds and related Tawarruq papers
TURKEY: Ministry of Treasury and Finance of Turkey collects gold for lease certificates
GAMBIA: Central Bank of Gambia’s Sukuk Salam papers oversubscribed
SAUDI ARABIA: Salama Cooperative Insurance Co receives letter of approval from Saudi Central Bank to reduce capital by SAR150 million (US$39.94 million)
SAUDI ARABIA: Gulf Union Al Ahlia Cooperative Insurance Co receives Saudi Central Bank’s approval to launch new product
SAUDI ARABIA: Capital Market Authority of Saudi Arabia approves Amana Cooperative Insurance Company’s request to increase capital via rights issue
UAE: Trading of GFH Financial Group’s shares on Abu Dhabi Securities Exchange to be activated on the 31st May 2022
MALAYSIA: FWD Takaful launches several value-based intermediation for Takaful initiatives including partnership with Malaysian Takaful Association
SAUDI ARABIA: More than six million new shares of Gulf Union Al Ahlia Cooperative Insurance Company subscribed in rights issue trading and new shares subscription
SAUDI ARABIA: Trade Development Fund and Foreign Trade Training Center to organize training program to support SMEs accessing global markets
UAE: Postpay receives Shariah compliance certification from Shariyah Review Bureau
PAKISTAN: PACRA assigns ‘AAA’ preliminary rating to Water and Power Development Authority of Pakistan’s third tranche of i-e Series C Sukuk worth PKR6.35 billion (US$31.5 million)
MALAYSIA: Cagamas sells one-year Islamic medium-term note worth RM100 million (US$22.77 million)
MALAYSIA: Bank Negara Malaysia issues four Islamic liquidity management papers
BANGLADESH: Bangladesh Bank auctions one Bangladesh Government Islami Investment Bond
GLOBAL: Islamic Corporation for the Insurance of Investment and Export Credit and International Federation of Islamic Takaful and Insurance Companies sign MoU to boost Takaful sector
SAUDI ARABIA: Mediterranean and Gulf Insurance and Reinsurance Co reports net loss before Zakat of SAR55.4 million (US$14.75 million) for first quarter of 2022
UAE: Dubai Islamic Bank makes AED1 million (US$272,230) donation to Dubai’s Rental Disputes Center to assist those affected by judicial rulings due to inability to pay rent
EGYPT: Al Baraka Bank Egypt to inject US$6 million to expand digital services
SAUDI ARABIA: Saudi Enaya Insurance Company to increase capital via rights issue worth SAR300 million (US$79.89 million)
QATAR: Masraf Al Rayan completes operational integration upon acquisition of Al Khaliji Bank; consolidates operations to single platform
GLOBAL: Astana International Financial Centre signs MoU with Qatar Financial Centre to foster joint projects stimulating activity on both financial platforms
NIGERIA: IsDB approves US$49,000 grant for University of Health Sciences to train hospital staff in Nigeria
SAUDI ARABIA: Abdulmohsen Abdulrahman Musaed Al Sowailem resigns as CEO and managing director of Nayifat Finance Company
UAE: Aafaq Islamic Finance appoints Darrel D Souza as senior vice-president of credit and collection
SAUDI ARABIA: Saudi Home Loans Co reports net profit before Zakat and income tax of SAR35.85 million (US$9.55 million) for first quarter of 2022
MALAYSIA: Amanat Lebuhraya Rakyat proposes landmark sustainable Sukuk program worth RM5.5 billion (US$1.25 billion); receives preliminary ratings from MARC and RAM
MALAYSIA: Tanjung Bin Energy sells eight Islamic medium-term notes totaling RM710 million (US$161.58 million)
INDONESIA: Indonesia Stock Exchange delists Medco Power Indonesia’s Sukuk Wakalah worth IDR832.7 billion (US$58.29 million)
BRUNEI: Brunei Darussalam Central Bank prices 73rd issuance of BDCB Islamic Bills at BN$27 million (US$19.56 million) with a profit rate of 0.35%
MALAYSIA: Bank Negara Malaysia issues four Shariah papers
SAUDI ARABIA: United Cooperative Assurance Co reports net loss before Zakat of SAR19.86 million (US$5.3 million) for first quarter of 2022
SAUDI ARABIA: Gulf Union Alahlia Cooperative Insurance Co records net loss before Zakat of SAR20.39 million (US$5.43 million) for first quarter of 2022
SAUDI ARABIA: Gulf General Cooperative Insurance Co reports net loss before Zakat of SAR18.07 million (US$4.81 million) for first quarter of 2022
SAUDI ARABIA: CHUBB Arabia Cooperative Insurance Co sees net profit before Zakat decline by 16.19% on year-on-year basis to SAR2.03 million (US$541,634) for first quarter of 2022
SAUDI ARABIA: Allianz Saudi Fransi Cooperative Insurance Co reports net profit before Zakat of SAR3.19 million (US$850,669) for first quarter of 2022
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