Indonesia raises $889mln from Islamic bond auction

Indonesia’s finance ministry made the announcement Stefanno Sulaiman, Reuters News January, 2023   JAKARTA – Indonesia raised 13.85 trillion rupiah ($888.96 million) in an Islamic bond auction on Tuesday, slightly lower than an indicative target of 14 trillion rupiah, the finance ministry said. Incoming bids were 17.45 trillion rupiah, it added. ($1 = 15,580.0000 rupiah) (Reporting […]

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Slower growth seen for global sukuk issuances in 2023

Fitch Ratings says medium-to-long term outlook is positive amid intact Islamic investor demand Staff Writer, ZAWYA January, 2023   Global sukuk issuance are likely to rise at a slow pace in 2023 amid market volatilities but will remain a key funding source in core Islamic finance markets, according to a new report from Fitch Ratings. The […]

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Islamic banking is for everyone: BSP exec

By Joann Villanueva MANILA – Islamic banking is not exclusive to Muslims as it provides alternative financial products outside the conventional financial institutions, a ranking central bank official said. Speaking during Tuesday’s Laging Handa briefing, Bangko Sentral ng Pilipinas (BSP) Assistant Governor Arifa Ala said the government is adopting a whole-of-government approach to ensure a […]

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Islamic Development Bank pledges $4.2bn for Pakistan’s climate rebuilding efforts

GENEVA: The Islamic Development Bank has pledged $4.2 billion over the next three years to Pakistan as aid for its climate rebuilding effort, the bank’s president said on Monday. “I am pleased to announce that the Islamic Development Bank group, as part of contributing to the achievement of Pakistan’s climate resilience and development objectives, pledges […]

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CBB Sukuk Al-Salam securities oversubscribed

Monthly issue of the Sukuk Al-Salam Islamic securities oversubscribed by 258% Press Release January, 2023 Manama, Bahrain – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities, has been oversubscribed by 258%. Subscriptions worth BD 111.040 million were received for the BD 43 million issue, which carries […]

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UAE commercial transactions law ‘to boost Islamic banking services’

The Federation, which acts as the unified voice of UAE banks, stated that the new law meets the requirements of the great and rapid development witnessed by Islamic banks and financial institutions Staff Writer, TradeArabia The Commercial Transactions Law 2022, which was implemented through a royal decree last year, will help boost Islamic financial and banking […]

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Pakistan returns to sukuk market to bolster economic stability

Despite increasing interest rates creating unfavourable pricing conditions for Pakistan in debt  markets, the government raised a total of $5.8 billion in  H1 2022 Staff Writer, ZAWYA, 2022   With Pakistan’s foreign reserves continuing to deplete through international debt repayments, the government returned to the international sukuk market for the first time since a five-year dollar […]

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