SAUDI ARABIA: SHL Finance Company renews Shariah compliant credit facilities agreement with Arab National Bank
SAUDI ARABIA: Red Sea International Company secures financing facilities from Al Rajhi Bank
MALAYSIA: Securities Commission Malaysia partners with SME Corporation Malaysia to facilitate greater access to capital market financing for MSMEs
UAE: Dr Tariq Hendi resigns from his post as chairman of ENBD REIT
INDONESIA: Indonesian regulators hold Shariah Financing Month 2023
MALAYSIA: Bank Negara Malaysia issues exposure draft on Islamic collateralized funding
TURKIYE: Superonline iletisim Hizmetleri issues Sukuk worth TRY100 million (US$3.64 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM27.5 billion (US$5.84 billion) in total
SAUDI ARABIA: Capital Market Authority grants Valuable Capital Financial Company with license
SAUDI ARABIA: Capital Market Authority approves public offerings of funds by Derayah Financial Company and anb capital
GLOBAL: AAOIFI holds public hearing on exposure draft of financial accounting standard ‘Transfer of Assets between Investment Pools’
SAUDI ARABIA: Perfect Presentation for Commercial Services renews Shariah compliant bank facility with Al Rajhi Bank
SAUDI ARABIA: Saudi Awwal Bank to issue additional Tier 1 Sukuk via private placement
MALAYSIA: Imtiaz Sukuk II issues Islamic medium-term notes worth RM1 billion (US$212.77 million) in total
MALAYSIA: Gamuda Land (T12) issues Islamic commercial paper worth RM100 million (US$21.28 million)
TURKIYE: Carrefoursa Carrefour Sabanci Ticaret Merkezi issues Sukuk worth TRY250 million (US$9.11 million)
GLOBAL: Blockchain start-up accelerator Genius X onboards Shariah compliant decentralized exchange Liberty Finance
GLOBAL: Shariah compliant investment start-up Islamicly partners with Waslaah Holding Kuwait
GLOBAL: AAOIFI issues Arabic version of Financial Accounting Standard 36 ‘First Time Adoption of AAOIFI Financial Accounting Standards’
US: Metropolitan Business Development Corporation board of Louisville approves Shariah compliant loan for Derby City Discount Fashions
PAKISTAN: Faysal Bank to establish exchange company with initial paid-up capital of PKR1 billion (US$3.47 million)
PHILIPPINES: Philippine government to raise US$1 billion through maiden Sukuk sale by end of November, local media reports
MALAYSIA: Bank Negara Malaysia issues Islamic facility worth RM19.9 billion (US$4.23 billion)
GLOBAL: Craig R Nethercott and Chirag J Sanghrajka join Clifford Chance’s energy and infrastructure practice
MALAYSIA: UEM Sunrise issues Islamic papers worth RM350 million (US$74.3 million) in total
MALAYSIA: Seaport Terminal (Johore) issues Sukuk worth RM3.43 billion (US$728.78 million) in total
NIGERIA: Trust Arthur partners with Real Estate Developers Association of Nigeria on Sukuk worth NGN50 billion (US$64.02 million)
UAE: UAE plans Sukuk issuance worth AED550 million (US$149.72 million), reports say
MALAYSIA: reNIKOLA issues Islamic papers worth between RM10 million (US$2.12 million) and RM25 million (US$5.31 million)
MALAYSIA: Duopharma Biotech issues Islamic medium-term notes worth RM364 million (US$77.27 million) in total
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM23.65 billion (US$5.02 billion) in total
SAUDI ARABIA: Advanced Petrochemical Company obtains facility worth SAR1.6 billion (US$426.21 million) from Saudi National Bank
GLOBAL: Infrastructure investment platform Africa50 in talks with IsDB for green infrastructure partnership
MALAYSIA: Bursa Carbon Exchange commences trading and facilitation of off-market carbon credits transactions
UAE: Fraih Al Qubaisi resigns as member of Islamic Arab Insurance Company’s board of directors
QATAR: Qatar Central Bank’s treasury bills and Sukuk auction attracts QAR11.8 billion (US$3.21 billion) in bids
TURKIYE: Ziraat Katilim Bankasi issues Islamic lease certificate worth TRY500 million (US$18.3 million)
MALAYSIA: Sunway Treasury Sukuk auctions Islamic commercial papers worth RM80 million (US$16.99 million) in total
TURKIYE: Kuveyt Turk Katilim Bankasi raises TRY300 million (US$10.98 million) through Islamic lease certificate issuance
MALAYSIA: Gabungan AQRS sells three-month Islamic paper worth RM5 million (US$1.06 million)
TURKIYE: Turkiye Emlak Katilim Bankasi issues Sukuk worth TRY200 million (US$7.32 million)
MALAYSIA: Cypark Resources’s subsidiary issues third tranche of perpetual Sukuk worth RM165 million (US$35.05 million)
MALAYSIA: Cagamas issues one-year green Sukuk worth RM90 million (US$19.12 million) along with Islamic commercial paper
GLOBAL: IsDB launches five-year Sukuk worth US$1.7 billion, International Financing Review reports
KUWAIT: Central Bank of Kuwait issues bonds and related Tawarruq facilities worth KWD240 million (US$774.48 million)
MALAYSIA: Bank Negara Malaysia issues Islamic facilities worth RM18.95 billion (US$4.04 billion) in total
UAE: Major shareholder of SHUAA Capital Jassim Alseddiqi sells 30 million of his shares
INDONESIA: Indonesian government launches carbon exchange
UAE: Bechara Raad resigns from his post as group COO of SHUAA Capital
MALAYSIA: Principal Financial Group appoints Izad Sallehuddin as CEO and non-independent executive director of Principal Islamic Asset Management
The Malaysian government has identified Islamic fintech as a strategic avenue to further bolster its global Islamic economic standing and as a source of economic growth. There is much to gain from developing this area. However, establishing a vibrant supportive ecosystem is a collaborative exercise involving many moving components, with funding as an instrumental factor of success for any start-ups. With the input of industry stakeholders, this report, supported by Malaysia Digital Economy Corporation, identifies four key priorities and six strategic recommendations to facilitate an Islamic fintech funding ecosystem in...
|Wednesday, 20 Apr 2022|
IFN and Malaysia Digital Economy Corporation are pleased to release the Islamic Fintech & Digital Financial Inclusion Report. The findings of the report are based on the input of senior decision-makers and leaders from the Islamic finance industry, including the government, regulators and fintech community, given during the ‘Islamic Fintech Dialogue 2020: Driving Financial Inclusion through Islamic Fintech’. Key highlights: Islamic fintech stakeholders identify nine strategic priority areas that will further reinforce and enhance financial inclusion in Malaysia Key priorities include setting up a national Islamic fintech taskforce, developing smart...
|Wednesday, 22 Jul 2020|
A collaborative endeavor with stakeholders of the Islamic fintech ecosystem, this report deep dives into the fast-accelerating industry and provides a snapshot at what it has to offer in Malaysia. Within are the latest facts on the opportunities Malaysia has to offer in the Shariah fintech sector. This also includes the challenges it faces. More importantly, it highlights suggestions from the community. Among them are major pointers on how to best address marketplace gaps and other key recommendations that can drive the Islamic fintech agenda forward. View PDF Edition
|Tuesday, 14 Apr 2020|
The Middle East is a hotbed for project financing opportunities: with a thriving infrastructure pipeline, an established energy industry and of course a vast field of petrochemical and utilities projects, among others. As the sector gathers pace and sophistication, priorities are also beginning to shift towards a more conscious attitude regarding clean energy, green business and environmental awareness – especially as the economic and geopolitical challenges in the region and globally cast a shadow over potential progress. As the industry develops, IFN asks, how will this new path impact project...
|Monday, 14 Dec 2015|
Backed by rising liquidity and sound financials, Dubai as become a hotbed for investors – domestic and international – looking to take advantage of the region’s growing economy and increasing curiosity among local issuers and investors on the prospects of Shariah compliant finance. How has or will Dubai attract issuers (both domestic and international) to use Dubai as the issuing center? In April 2015 a group of industry-leading regional and international experts gathered together at the DIFC in Dubai to conduct a high-level discussion on current and future of Sukuk...
|Friday, 22 May 2015|
In September 2014 a group of regional and international experts gathered together at the Shangri-La Hotel in Jakarta to conduct a high-level discussion on the future of the Indonesian Islamic insurance industry. With a broad range of perspectives including from the regulatory, practitioner, reTakaful and observer angles, the debate was wide-ranging and rewarding, with lively interaction and valuable collaboration between the parties. Seeking to uncover the key trends and developments in the Indonesian Takaful and reTakaful industry and gain an understanding of the requirements for growth going forward, the conversation...
|Friday, 07 Nov 2014|
The search for human capital poses significant challenges to organizations faced with the need for global managers with international experience, and qualified specialists with multi-functional expertise. Organizations must consider investing in human capital as a strategic target and an essential requirement for future success. A group of the foremost industry experts in the field of training and accreditation recently gathered at the Dubai International Financial Center (DIFC) under the aegis of IFN and the Dubai financial authorities to discuss the current and chronic gap in the provision and training of...
|Saturday, 01 Nov 2014|
A group of leading industry experts recently gathered at the Dubai International Financial Center (DIFC) under the aegis of IFN and the Dubai financial authorities to discuss the current lack of a robust and material Islamic wealth management sector that can meet the needs of its high net worth clients and attract them away from the conventional arena. The crux of the discussion revolved around the lack of a track record in Islamic wealth management and the current inability to attract investors. An average Middle Eastern high net-worth individual is...
|Wednesday, 01 Oct 2014|
A group of leading industry experts recently gathered at the Dubai International Financial Center (DIFC) under the aegis of IFN and the Dubai financial authorities to discuss the challenges and opportunities of building a global Shariah compliant trade finance network and the possibility inherent in creating a suite of products to service this goal. Trade finance currently supports 90% of the world trade but emerging economies have seen the highest volumes of trade globally. Where does Islamic trade finance sit in this equation: what are the challenges that we’re encountering...
|Monday, 01 Sep 2014|
A group of leading industry experts recently gathered at the Dubai International Financial Center (DIFC) under the aegis of IFN and the Dubai financial authorities to discuss the challenges and opportunities of liquidity management within the industry; to discuss the requirements needed to develop the short to medium-term instruments that the Islamic finance industry needs to manage liquidity; and to evaluate and identify potential solutions to develop the Islamic money market going forward. Islamic Finance news was delighted to bring together the experience and expertise of industry stalwarts including Moinuddin...
|Friday, 01 Aug 2014|
On the 1st May 2014, a group of leading industry experts gathered at the Dubai International Financial Center (DIFC) to discuss the potential for Dubai’s rapidly developing Islamic debt capital market in the context of its wider Islamic economy ambitions and attempt to identify the key challenges and opportunities that currently exist in its path towards becoming a global hub for Sukuk. Backed by rising liquidity, sound financials and healthy oil prices, Dubai has become a hotbed for investors, both domestic and international, seeking to take advantage of the region’s growing...
|Sunday, 01 Jun 2014|
In conjunction with the IFN Asia Forum 2014, Islamic Finance news held the first in a new series of Islamic finance-focused Roundtable discussions, sponsored by CIMB Islamic. A group of leading industry experts gathered together in a closed-door session to discuss the first in a series of broad yet crucial concepts designed to promote inclusion and participation in the wider industry. ‘Islamic Finance for CFOs’ aimed to create a roadmap for encouraging more corporates to tap the Islamic markets by identifying the key barriers, answering the key questions, addressing the...
|Sunday, 01 Jun 2014|
Dubai as the World's Capital of the Islamic Economy On the 30th April 2014, a group of leading industry experts gathered at the Dubai International Financial Center (DIFC) to discuss the strategy and prospects for Dubai to drive its ambitions as a global capital of Islamic economy. In October of last year Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, announced a three-year program to promote Dubai as the leading global center for the Islamic economy, based on a framework of seven key pillars and supported by 46 strategic initiatives. While...
|Thursday, 01 May 2014|
Efforts by the UK government to introduce Islamic finance into the mainstream economy as an alternative investment mechanism are becoming more evident with the set-up of the UK Islamic Finance Task Force, and other government-led initiatives pioneered by TheCityUK as well as regulatory amendments to accommodate Shariah compliant transactions. As the UK fights to keep its leading edge as the world’s foremost financial center, Islamic finance has been suggested as a booster to the nation’s economy; primarily to encourage inflows of liquidity from the GCC and Asia and to accommodate...
|Saturday, 01 Jun 2013|