ALGERIA: Takaful companies to open doors in Algeria before end of 2021, according to prime minister
SAUDI ARABIA: Mediterranean and Gulf Cooperative Insurance and Reinsurance Company strikes one-year deal with Saudi Electricity Company
MALAYSIA: RAM reaffirms ‘AA2/Stable’ rating on Kesas’s RM735 million (US$173.75 million) Sukuk Musharakah
SAUDI ARABIA: Wa’ed and RAED Ventures invests SAR19 million (US$5.06 million) in fintech startup Lamaa
GLOBAL: Royal Award for Islamic Finance calls for global nominations; introduces Emerging Leader Prize and the Impact Challenge Prize
GLOBAL: Responsible Finance & Investment Foundation publishes research findings supporting Islamic ESG proposition
GLOBAL: MRHB DeFi receives investment from Shanghai’s Sinofy Group
INDONESIA: Bank Syariah Indonesia launches Electronic Data Capture and Quick Response Code Indonesian Standard machines in Aceh
INDONESIA: Telkom Indonesia collaborates with peer-to-peer financier ALAMI Sharia to provide agricultural financing
GAMBIA: APS Islamic Microfinance launches in Gambia
AUSTRALIA: Amirsan Roberto joins MRHB DeFi as head of investments and partnerships
MALAYSIA: CIMB Islamic Bank to launch Hibah-based Takaful products
BANGLADESH: Bangladesh Finance signs agreement with Leeds Corporation to implement Islamic core banking platform
AUSTRALIA: Michael Trist joins Hejaz Financial Services as general manager of sales and distribution
SAUDI ARABIA: SEDCO Holding appoints Rayyan Mohammed Nagadi as new CEO
MALAYSIA: Sunway Treasury Sukuk prints RM25 million Islamic commercial paper
MALAYSIA: Prasarana Malaysia auctions three Islamic medium-term notes totaling RM350 million (US$82.74 million)
INDONESIA: Steel Pipe Industry of Indonesia lists two-tranche Sukuk Ijarah worth IDR150 billion (US$10.42 million) on Indonesia Stock Exchange
MALAYSIA: Bank Negara Malaysia prints Murabahah and Qard papers to facilitate liquidity management
SAUDI ARABIA: Al Sagr Cooperative Insurance Co posts net loss before Zakat of SAR18.92 million (US$5.04 million)
MALAYSIA: Hong Leong Bank records decrease in net income from Islamic banking business
MALAYSIA: MNRB Holdings reports higher profits for Family Takaful business while General Takaful business declines in six months ending 30th September 2021
MALAYSIA: Bank Islam Malaysia makes 19.3% gain in pre-Zakat profit for first nine months of 2021 to RM627.8 million (US$148.98 million)
GLOBAL: Kuwait Finance House to update studies of acquisition of Ahli United Bank Bahrain
KUWAIT: GFH Financial Group sets timetable of revised offer for acquisition of Khaleeji Commercial Bank’s shares
IRAN: Securities and Exchange Organization revises minimum capital adequacy requirements for financial institutions
GLOBAL: General Council for Islamic Banks and Financial Institutions submits comments on three exposure drafts to AAOIFI
SAUDI ARABIA: Aljazira Takaful Taawuni Co agrees to increase capital by issuing new shares
PAKISTAN: Pakistani regulator approves new Family Takaful operator to offer life insurance business
PAKISTAN: United Bank and U Microfinance Bank sign MoU to collaborate on Islamic microfinance, among others
BAHRAIN: Bahrain Development Bank appoints Dalal Al Qais as CEO
MALAYSIA: Penang mulls investment in Sukuk and bond markets
PAKISTAN: Pakistan to raise PKR6.9 trillion (US$39.2 billion) via Sukuk and bonds
SAUDI ARABIA: Rawaj Real Estate Company signs amended lease agreement with Al Rajhi REIT to reschedule unpaid dues
MALAYSIA: RAM reaffirms ‘AA1(s)/Stable’ rating on Sarawak Power Generation’s Sukuk Musharakah worth RM215 million (US$50.98 million)
TURKEY: Turkiye Emlak Katilim Bankasi auctions lease certificates worth TRY30 million (US$2.24 million)
MALAYSIA: Cagamas issues RM4 billion (US$949.21 million)-worth of Islamic papers and conventional bonds
MALAYSIA: Bank Negara Malaysia issues two Islamic liquidity management papers
INDONESIA: Aneka Gas Industri to issue Sukuk Ijarah worth IDR150 billion (US$10.44 million) alongside conventional bonds
SAUDI ARABIA: Saudi Arabian Cooperative Insurance Co renews insurance business license with Saudi Central Bank
SRI LANKA: Amana Takaful Life Insurance signs MoU with Orient Finance on life insurance services
UZBEKISTAN: Fitch affirms Trustbank’s long-term issuer default ratings at ‘B’ with stable outlook
MALAYSIA: RAM reaffirms enhanced ‘AA1(s)/Stable’ rating on Mukah Power Generation’s Sukuk Mudarabah program worth RM665 million (US$157.69 million)
PALESTINE: IsDB Institute assists Waqf institutions in Palestine to unleash potential of Waqf in achieving sustainable development
GLOBAL: Islamic Corporation for the Insurance of Investment and Export Credit signs MoU with Japan’s Nippon Export and Investment Insurance
INDONESIA: Otoritas Jasa Keuangan launches Indonesian Banking Development Roadmap for Shariah rural banks
MALAYSIA: Bank Rakyat launches virtual banking platform Bank Rakyat Quick
EGYPT: Egypt’s Financial Regulatory Authority approves amendment of regulation to apply provisions and 50% fee reductions on sustainable Sukuk
QATAR: Masraf Al Rayan appoints Sheikh Mohammed Hamad Qassim Al Thani as chairman of board of directors
INDONESIA: Securities crowdfunding platform Shafiq to raise IDR2.8 billion (US$195,327) via Sukuk
Press Releases
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2 March 2021
The Malaysian government’s Sukuk Prihatin issuance bags IFN Overall Deal Of the Year 2020 award
Kuala Lumpur 2nd March 2021 – Islamic Finance news (IFN), the Islamic finance industry's leading news platform, is pleased to announce the prestigious IFN Overall Deal of the Year 2020 accolade has been awarded to the Malaysian government for the Sukuk Prihatin facility worth RM666 million (US$164.64 million). Sukuk Prihatin brought a new approach to...
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23 February 2021
Meezan Bank wins Islamic Finance news (IFN) Best Overall Islamic Bank of 2020
Kuala Lumpur 23rd February 2021 – Islamic Finance news (IFN), the Islamic finance industry's leading media provider, has announced Pakistan’s Meezan Bank as the winner of the prestigious IFN Best Overall Islamic Bank 2020. Meezan Bank’s win comes in a year wrought with unprecedented difficulties due to the global COVID-19 pandemic. The Islamic bank rose...
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16 October 2020
Global Islamic Finance Media Publication Islamic Finance news (IFN) announces IFN Service Providers Poll Winners 2020
Kuala Lumpur 14th October 2020 – The annual IFN Service Providers Poll continues to be the benchmark of excellence honoring Islamic finance industry’s best in supporting operations, facilitating transactions, setting standards and rating transactions. The winners of the IFN Service Providers Poll 2020 displayed resilience during a challenging year, whilst remaining committed to service the...
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1 October 2020
Global Islamic Finance Media Publication Islamic Finance news (IFN) announces IFN Law Awards Winners 2020
Kuala Lumpur 30th September 2020 – Eleven legal firms have been honored with the Islamic finance industry’s most prestigious accolades, the IFN Law Awards 2020, for their outstanding achievements in Shariah finance. The IFN Law Awards, by renowned Islamic finance media company Islamic Finance news (IFN), are the industry’s standard of Islamic finance legal excellence...
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18 August 2020
Moody’s and IFN team up on global Islamic finance expertise
London and Kuala Lumpur, 18 August 2020 - Moody’s Investors Service and Islamic Finance news (IFN) are proud to announce an exclusive collaboration to provide insights and analysis for Islamic finance worldwide. “This collaboration brings together Moody’s global Islamic finance expertise with IFN’s comprehensive and trusted coverage of Shariah compliant finance to serve a global...
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5 August 2020
REDmoney Group forms strategic partnership with Carrera Learning
LONDON and KUALA LUMPUR, 5 August 2020 – Global Islamic finance expert REDmoney Group has entered into a strategic partnership with Islamic Finance Navigator and its platform Carrera Learning, a renowned learning provider in Islamic finance based in the UK. Commencing today, the partnership will see REDmoney Group and its flagship brand – Islamic Finance...
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28 July 2020
Industry leaders set key priority areas to drive Malaysia’s financial inclusion agenda with Islamic fintech
Islamic fintech stakeholders have determined nine strategic priority areas that will further reinforce and enhance financial inclusion in Malaysia. All nine strategic priority areas were drafted based on the input given by the decision-makers and leaders from the Islamic finance industry, including the government, regulators and fintech community, during the ‘Islamic Fintech Dialogue 2020: Driving...
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22 July 2020
Global Islamic Finance Expert REDmoney Group Introduces IFN Advisory Board
Kuala Lumpur 22 July 2020 – Renowned Islamic finance media and service provider, REDmoney Group introduces its IFN Advisory Board. REDmoney Group, through its reputable brands of Islamic Financial news (IFN) and REDmoney events, is looking to further enrich its brand value through obtaining insights and advice from a council of subject matter experts. The...