Mohammed bin Rashid: We achieved the first goal of Dubai’s plan to become world’s capital of Islamic economy

Photo Credit:Reuters/STRINGER Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Wednesday said the first goal of the strategy launched two years ago to develop and promote Dubai as the global capital of Islamic economy has been achieved. H.H. Sheikh Mohammed hailed the achievement made by Dubai […]

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Worldwide Sukuk issuance looks set to stall in 2015 as major issuer changes course

The global Sukuk market is heading toward a correction in 2015 after the Central Bank of Malaysia (BNM)–one of the largest issuers of Sukuk worldwide–stopped issuing earlier this year, says a report published today by Standard & Poor’s Ratings Services. But as the report, titled “Global Sukuk Issuance Stalls in 2015 As Major Issuer Exits […]

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Saudi-based APICORP says could issue first international sukuk in 2015

(Reuters) – Saudi Arabia-based Arab Petroleum Investments Corp (APICORP) could issue its first sukuk later this year, as part of its recently-established $3 billion sukuk programme, the company said on Monday. Photo Credit:Reuters/Faisal Al Nasser – RTX1GK29 The sukuk issuance “will allow APICORP to diversify its funding sources, reduce the overall cost of financing, extend […]

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Ajman Bank begins transactions on Nasdaq Dubai Murabaha platform for Islamic financing

Ajman Bank has begun transacting on the Nasdaq Dubai Murabaha Platform, which facilitates the provision of streamlined Shari’ah-compliant financing services. A ceremony to mark the occasion took place at Ajman Bank new Head Office in Ajman attended by Mohamed Amiri, Chief Executive Officer of Ajman Bank and Hamed Ali, Chief Executive of Nasdaq Dubai. Ajman Bank’s initial activity on the platform […]

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Morocco adopts draft law regulating Islamic insurance

May 14 (Reuters) – Morocco’s government adopted a bill on Thursday to regulate Islamic insurance, legislation that will face a final vote by parliament later this year, a cabinet statement said. It is the last step in Morocco’s legislative package to regulate the country’s fledgling Islamic finance industry. Earlier this year, it issued a decree […]

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