Indonesia’s 3-way Islamic bank merger to build scale, raise competitiveness

Author: Rebecca Isjwara Indonesia’s planned merger of three state-owned Islamic banks will create an entity with scale comparable with the biggest local lenders and may give a fillip to Shariah-compliant finance in the world’s biggest Muslim nation by population, analysts say. The proposed merger between PT Bank BRIsyariah Tbk, PT Bank Syariah Mandiri and PT […]

Read More

Saudi Electricity to convert $45 billion in government liabilities into perpetual instrument

DUBAI (Reuters) – Saudi Electricity Co 5110.SE said on Monday it has signed an agreement with the government to convert state liabilities worth 167.92 billion riyals ($45 billion) into a subordinated perpetual financial instrument to strengthen its balance sheet. The Shariah-compliant perpetual equity-like instrument will carry a 4.5% profit rate and a redemption option, it said in […]

Read More

Dubai Aerospace Enterprise hires banks for dollar sukuk – document

DUBAI (Reuters) – Dubai Aerospace Enterprise (DAE), one of the world’s biggest aircraft leasing companies, has hired banks to arrange investor calls ahead of a planned issuance of U.S. dollar-denominated sukuk, or Islamic bonds, a document showed on Monday. DAE, owned by sovereign wealth fund Investment Corporation of Dubai, hired Bank ABC ABCB.BH, Commercial Bank of […]

Read More

Regulators urged to create supportive environment for Islamic finance

KUALA LUMPUR, — Regulators need to create a supportive environment for the Islamic finance industry to boost the industry further, a forum was told today. Indonesia’s Badan Pengelola Keuangan Haji (BPKH) executive board member for foreign investment and international relations, Hurriyah El Islamy, said the Islamic finance industry should make it less complicated for the […]

Read More

New Angel Investors Club hopes UK tax incentives will attract investments for ethical and Shariah-compliant start-ups, SMEs

BY HASSAN JIVRAJ LONDON – A recently-launched platform will seek to leverage UK government tax incentives for investors to put money into early stage start-ups and SMEs. The Bristol-headquartered Angel Investors Club (AIC) wants to connect Shariah-compliant and ethical start-ups and SMEs to investors by utilising the Seed Enterprise Investment Scheme and Enterprise Investment Scheme. There […]

Read More

Indonesia gains heft in Islamic banking with 3-way merger

By merging syariah units of three lenders, country aims to capture bigger slice of market Jeffrey Hutton Regional Correspondent In Jakarta In Indonesia, being seen as halal is serious business. Starbucks and KFC show off their halal certification from the country’s top clerical body even though the franchises are rarely associated with booze or bacon. But […]

Read More

Launch of UK’s first Islamic Finance undergraduate degree

By Shuiab Khan A university has announced the launch of the first Accounting and Islamic Finance undergraduate course in the UK. The BSc (Hons) Accounting and Islamic Finance degree at Birmingham City University will see students study Islamic economics, whilst developing an understanding of ‘corporate social responsibility’. Islamic finance is one of the fastest growing financial […]

Read More