Australia’s NAB seals maiden Islamic financing deal

Aug 27 National Australia Bank Ltd has closed its first onshore Islamic financing deal, a A$19.9 million ($14.2 million) arrangement to fund a real estate purchase by Sydney-based asset manager Crescent Wealth. The funding platform designed by NAB, the country’s No.4 lender by market value, could help open Australia to Islamic investors from the Gulf […]

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SUKUK PIPELINE – Issue plans around the world

The Thomson Reuters Global Sukuk Index is at 117.97246 points, down from 118.20147 at the end of last month but up from 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 116.67852 against 116.92144 at end-July and 113.69014 at end-2014. AXIATA – Axiata Group, Malaysia’s biggest mobile telephone […]

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Gulf-based Islamic banks face prospect of lower net income growth

After delivering strong results in 2014, Islamic banks in the Gulf face a gradually weakening operating outlook in 2015-2016, largely due to declining oil revenues, says a report published today by Standard & Poor’s Ratings Services. But as the report, titled Gulf-Based Islamic Banks Grapple With Weakening Regional Economies, also points out, Standard & Poor’s believes […]

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State of the Global Islamic Economy’ Report and Indicator 2015-2016 highlight growth milestones

Projections timed ahead of Global Islamic Economy Summit 2015 in October Global Islamic Economy Indicator quantifies current outlook across seven key sectors Dubai Islamic Economy Development Centre(DIEDC) in partnership with Thomson Reuters , the world’s leading provider of intelligent information for businesses and professionals, and in collaboration with DinarStandard, the growth strategy research and advisory […]

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Tunisian firms prepare to issue Islamic bonds

Tunisian firms are preparing to issue Islamic bonds as the government finalises rules covering the sector, creating a new funding option for companies in an economy buffeted by labour unrest and militant attacks. Islamic finance – which bars interest payments in accordance with Islamic, or sharia, law – accounts for just 2.5 percent of Tunisia’s […]

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Islamic Finance Reaches New Level of Shari’ah Governance in U.S.

Azzad Asset Management becomes the 1st American investment firm to complete external Shari’ah audit. (Falls Church, Virginia, 4th August 2015) — Azzad Asset Management today announced the successful completion of an independent, external Shari’ah audit and verification of its policies and procedures. Azzad is the first investment boutique in the United States to obtain such verification. Conducted […]

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Bond experts to discuss the future of the rapidly emerging green bond and Sukuk sector at GEFF

The Global Ethical Finance Forum (GEFF) to be held in Edinburgh on the 1st and 2nd of September will feature the first global conversation of experts on the nascent yet rapidly growing green bond and Sukuk sector and how corporations can benefit from this marketplace. The green bond and Sukuk market has witnessed exponential growth […]

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