MALAYSIA: Malaysian automotive company’s SPV issues two Islamic medium-term notes
TURKIYE: Turkish REIT prints lease certificate worth TRY250 million (US$7.76 million)
SAUDI ARABIA: Operation and maintenance services provider secures Islamic financing facility from Saudi Islamic bank
MALAYSIA: Malaysian organization releases recommendations for next stage of development of Islamic finance industry
GLOBAL: AAOIFI extends deadline for feedback on exposure draft of Shariah standard
MALAYSIA: Malaysia announces Shariah compliant investments from booster fund and plan for Islamic blockchain hub in Labuan, IFN Investor reports
TURKIYE: Dubai Islamic Bank confirms support for IFN Turkiye Dialogues 2024 as partner
BAHRAIN: Power generation and water desalination company closes refinancing facility for Bahraini power project, Trade Arabia reports
SAUDI ARABIA: Wall Street investment bank secures Saudi license, reports Reuters
TURKIYE: Kuveyt Turk Katilim Bankasi announces sale of lease certificate worth TRY300 million (US$9.31 million)
QATAR: Qatar Central Bank auctions treasury bills and Sukuk worth QAR1.5 billion (US$407.79 million)
QATAR: Islamic investment bank in Qatar accepts co-CEO’s resignation
NIGERIA: Nigerian non-interest bank’s profit before tax grows, Daily Trust reports
SAUDI ARABIA: Volume of Islamic banking finance provided by Saudi Islamic banks grows
SAUDI ARABIA: Saudi government to sell shares in Saudi Aramco, Reuters reports
SAUDI ARABIA: Saudi Central Bank seeks public consultation on draft regulations
EGYPT: Financial Regulatory Authority of Egypt issues regulation on investment robo-advisors
UAE: UAE-based Takaful company appoints new board member
MALAYSIA: Malaysia’s first Islamic digital bank becomes operational
QATAR: Qatari Islamic bank approves application for new board member
MALAYSIA: Bank Negara Malaysia issues Islamic facilities
MALAYSIA: Malaysian Islamic bank records 0.4% drop in profit before tax for Q1 2024
GLOBAL: Saudi insurer announces decrease of accumulated losses to 16.84% of capital
GLOBAL: GCC’s primary Sukuk and bond issuances grow 33% year-on-year as at Q1 2024, Kuwait Financial Centre reports
GLOBAL: GCC capital market issuances should continue to rise in 2024 and 2025 but with fragmentation across bloc, Fitch says
MALAYSIA: Islamic bank in Malaysia partners with Dutch banking tech company to implement banking platform
TURKIYE: Albaraka Turk Katilim Bankasi offers lease certificate worth TRY500 million (US$15.5 million)
SAUDI ARABIA: Saudi Central Bank seeks public consultation on updated debt-based crowdfunding rules
SAUDI ARABIA: Capital Market Authority approves Saudi investment company’s public offering of endowment fund
BAHRAIN: Islamic bank and real estate development firm collaborate to offer financing solutions to homeowners, reports The Daily Tribune
PAKISTAN: Pakistan Stock Exchange auctions government of Pakistan’s Sukuk Ijarah
MALAYSIA: Malaysian petroleum company sells three Islamic medium-term notes
OMAN: Islamic bank in Oman fully redeems Sukuk facility maturing on 22nd May 2024
UAE: Dubai Financial Services Authority admits UAE’s treasury Sukuk to official list of securities
MALAYSIA: Securities Commission Malaysia launches five-year roadmap
SAUDI ARABIA: Saudi asset management company secures regulatory approval for business profile change
SAUDI ARABIA: Capital Market Authority of Saudi Arabia approves investment company’s capital increase request
GLOBAL: Islamic bank reinstates refinancing for UK residents and home financing for China and Hong Kong residents
BANGLADESH: Bangladeshi Islamic bank announces record amount of withdrawals for 2024, The Financial Express reports
PAKISTAN: Securities and Exchange Commission of Pakistan introduces self-assessment declaration form for nonbanking finance companies
TURKIYE: Turkish agricultural company sells Sukuk
MALAYSIA: Bank Negara Malaysia issues Islamic facilities
TURKIYE: Kuveyt Turk Katilim Bankasi raises TRY500 million (US$15.52 million) through Sukuk
TURKIYE: Turkiye Emlak Katilim Bankasi launches Islamic facility
MALAYSIA: Regulator to launch new five-year roadmap on Malaysian capital market
PAKISTAN: Regulator unveils 2023 book on non-banking financial institutions and Modaraba in Pakistan
INDIA: NSE Indices replaces stocks in Nifty Shariah indices
AZERBAIJAN: IsDB interested in issuing Sukuk in local currency with Azerbaijani banks, ABC.AZ reports
UK: UK-headquartered market intermediary firm partners with core banking provider to offer Shariah compliant fintech solution
OMAN: Omani law firm collaborates with Islamic finance consultancy firm
In a bid to welcome greater engagement from multilateral development banks such as the IsDB in the area of sustainable and green financing, Bank Negara Malaysia (BNM)'s Deputy Governor Adnan Zaylani Mohamad Zahid announced that the central bank has now...
Getting MSMEs to the capital markets is a tall order. But the Malaysian regulator believes that it can do that with its new range of broad measures. How do Islamic instruments factor into all of...
Heavily reliant on bank financing, MSMEs in Malaysia hardly turn to the capital markets for funding. Latest figures show that only 2% of MSME financing is provided for by the capital markets. The Securities Commission...
Emirates Islamic, the Islamic banking subsidiary of Emirates NBD Group, has joined a growing group of green and sustainable Sukuk issuers in the GCC region, particularly in the UAE, with its latest offering. NESSREEN TAMANO...
This week, the Pakistani government auctioned the government of Pakistan’s Sukuk Ijarah. Regular issuers Malaysia, Kuwait, Qatar, Saudi Arabia and the UAE sold Islamic papers. HANIF NAMORA brings...
Known for being a pioneer of Islamic finance, South Africa has in the past few years made moves to attract more Islamic investors into the market through its Sukuk and asset management segments. NESSREEN TAMANO...
The Halal financing sector has grown exponentially in recent years, driven by rising global demand for Halal products and services. According to the IsDB, the global Halal ecosystem is forecasted to reach almost US$3 trillion...
Uganda takes on Islamic banking with the launch of its first-ever fully-fledged Islamic bank, Oman’s newly established Financial Services Authority issued a legislation to encourage innovative Sukuk products and Canada announced it will be looking into easing its Muslim community’s access to Halal mortgage financing....
The Islamic Finance news Awards honor the best in the Islamic financial industry and are one of the most prestigious awards highly recognized by the global Islamic capital markets. These awards continue to be an apt representation of the current Islamic financial market landscape.
This week, the Pakistani government auctioned the government of Pakistan’s Sukuk Ijarah. Regular issuers Malaysia, Kuwait, Qatar, Saudi Arabia and the UAE sold Islamic papers. HANIF NAMORA brings you updates from the global sovereign Islamic...
The Republic of Turkiye's President Recep Tayyib Erdogan, in a speech he gave at the first AlBaraka Islamic Finance Summit held this past weekend, underscored the important role of Islamic finance, or participation finance as...
A dedicated Sharia Economic and Financial Regional Committee, or Komite Daerah Ekonomi dan Keuangan Syariah (KDEKS), has been established in the Mamuju Regency of West Sulawesi province in Indonesia, as part of the country's wider...
In the coming days, the General Council for Islamic Banks and Financial Institutions (CIBAFI) will release a reporting tool for Islamic banks to evaluate greenhouse gas (GHG) emissions associated with their financing and investment portfolio,...
This week, the Pakistani government announced its plan to hold the 9th auction of the government of Pakistan’s Sukuk Ijarah. Regular issuers Malaysia, Bahrain, Bangladesh, The Gambia, Indonesia and Kuwait launched Sukuk. HANIF NAMORA brings...
Qatar's Lesha Bank has entered the Kazakhstan market with its acquisition of a commercial bank in the Central Asian country. NESSREEN TAMANO reports. On the 31st March 2024, Lesha Bank signed a sale and purchase agreement...
A Zambian property developer could be the first issuer of Sukuk in the country, which has seen at least four other entities in the past year express their interest in issuing Sukuk. NESSREEN TAMANO has...
An Islamic finance company partnered with a local insurer to promote Takaful in Cameroon, the Philippines’s Muslim region announced a new Shariah compliant financing facility is in the works and two GCC companies issued green...
The United Nations Development Programme (UNDP) will be developing an Islamic sustainable financing platform in partnership with the first member of the Global Takaful Alliance as part of a joint effort to provide Shariah compliant...
Cameroon’s nascent Takaful sector may soon welcome a new player as a result of a partnership between an Islamic financial institution and a local insurer. NESSREEN TAMANO reports. Savana Islamic Finance, which was established in...
The development of an active secondary market for Shariah compliant instruments is a subject that has been discussed among practitioners for many years. There remains a relative lack of liquidity within Islamic markets. While Sukuk...
Islamic finance is evolving from a situation of acquiesced anarchy (characterized by coordination dilemmas, compliance gaps and unwarranted independence of regulators) toward a more ordinate and coordinated framework. The conceptual crisis of the New International...
In the realm of Islamic finance, Takaful stands as a cornerstone, embodying the principles of cooperation, solidarity and shared responsibility. Originating from the Arabic word ‘Kafalah’ (), meaning guarantee, Takaful represents a distinctive approach to...
Since the introduction of the SRI framework, SRI Sukuk now encompass sustainability-linked Sukuk, which allocate proceeds for general purposes while being tied to sustainability performance targets; transition Sukuk which fund firms’ efforts to reduce environmental...
The global energy market is a massive industry requiring immense amounts of capital for exploration, production, transportation and other operations. Historically, this capital has come from conventional financing sources like banks, capital markets and public...
Going through Islamic history, I find it highly mysterious the often-tragic end of so many scholars, starting from the very beginning of Islam in the shape of As-Hab Al Suffa who were taken by the people pretending to be new Muslims to the two faraway places outside Medina with the permission of Prophet Muhammad on the pretext of learning Quran and Islamic teachings from them but were brutally killed as it turned out to be a trap. Such a massive loss of so many lives from As-Hab Al Suffa exposed the new Islamic society to a potential knowledge vacuum as...
There are financial solutions and structures offered by Islamic finance that can practically cater to the needs of today’s world. One such solution is the Waqf model. Many reports and research work discuss about the role of the Waqf mechanism in its proven ability to deliver on social and economic objectives. There are many success...
I am not one to gossip but being in Dubai and Riyadh at the end of April gave me a chance to pick up on a number of interesting themes which were, to be honest, unexpected. Last month, the annual IFN Awards ceremony in Dubai took place which was attended by a surprisingly strong array...
Personalized shopping, real-time translations, autonomous vehicles, medical diagnostics … artificial intelligence (AI) is transforming our lives as I am typing these words. Around 125.2 million people around the globe regularly talk to Siri, or other voice assistants. The labor market is expecting a major shift not seen since the UK Industrial Revolution of 1750. Islamic...
In May, the Kazan Forum 2024 was held in Kazan, the capital of one of the largest Muslim regions in Russia. This event is a key annual gathering for discussions on Islamic finance. The forum covered a wide range of topics related to the development of the Islamic finance sector in Russia. It also summarized...
The long-awaited Qatar Economic Forum was held in Doha from the 14th May to the 16th May 2024. Participants and speakers at the forum included government leaders, global investors, CEOs and other influential voices who discussed issues concerning energy, artificial intelligence (AI), global finance, healthcare, geopolitics and sports among other matters. Several collaborations and partnerships...
This report is part of a series where MUHAMMAD ISSYAM ITAM delves into the challenges and implications associated with implementing Shariah Standard No 59 by AAOIFI (S59) in the global Sukuk market. It is part...
The Islamic finance sector is continuing its growth trend over the past decade. Over a period of five years, global Islamic financial assets grew by 76% to US$4.51 trillion in 2022 from US$2.56 trillion in...
The analyst who practices the art of making financial data talk is always surprised by the discourse on lower interest rates in Islamic finance circles and the approximations that follow from it. What rates should...
The analyst who practices the art of making financial data talk is always surprised by the discourse on lower interest rates in Islamic finance circles and the approximations that follow from it. What rates should...
According to statistics of the Central Bank of Oman (CBO), 2023 saw significant growth in the Islamic finance sector with Islamic banking assets closing the year at OMR7.35 billion (US$19.04 billion), a year-on-year (y-o-y) growth...
Takaful Oman’s CEO Neelmani Bhardwaj shares insights into the burgeoning Islamic insurance sector of the Sultanate, as well as Takaful Oman’s expansion plans in the short and medium term, with IFN’s Nessreen Tamano in this podcast episode.
