JAKARTA • A rise in religious conservatism in Indonesia is drawing talent away from what some view as un-Islamic jobs in banking, industry professionals say, creating hiring woes for conventional banks but a boon for the country’s fledgling syariah finance sector. The trend comes amid broader societal change in the world’s biggest Muslim-majority country, driven […]
BY Staff Writer The Dubai government on Wednesday (May 2021) launched its own platform for individuals and start-ups in the emirate to crowdfund for creative projects. According to its website, all business ideas are eligible to apply for crowdfunding on Dubai Next except for activities that are not Shariah-compliant. The platform is operated by government […]
REUTERS/Mohamed Abd El Ghany By Yousef Saba, Reuters News Along with KFH Capital and Standard Chartered, Boubyan Bank, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mizuho Securities will arrange fixed income investor calls An employee counts U.S. dollar bills at a money exchange office in central Cairo, Egypt, March 20, […]
Riyadh – Bandar al-Mosalam The Saudi Central Bank, previously called the Saudi Arabian Monetary Authority, has issued new directives to financing companies in the Kingdom, official sources revealed to Asharq Al-Awsat. Based on Sharia governance, the ordered measures seek to establish a minimum level of practices that improve Saudi Arabia’s financing scene compatibility with Islamic […]
(Reuters) – A Sudanese bank on Monday launched an investment fund offering what it said was the country’s first green sukuk — or bonds compliant with Islamic banking principles — aimed at financing renewable energy for commercial use. The 4.75 billion Sudanese pounds fund ($11.3 million) launched by Sanabel, a subsidiary of the Bank of […]
BY HASSAN JIVRAJ LONDON – The Republic of Maldives has hired banks to arrange a potential five-year U.S. dollar-denominated sukuk, according to a document from one of the banks. Credit Suisse, Emirates NBD Capital, HSBC and the Islamic Corporation for the Development of the Private Sector (ICD), started fixed income investor calls on Monday (March 22). […]
Issuers with weaker credit quality are likely to find it more difficult to access the market, says S&P By Staff Writer, ZAWYA While there has been some progress over the past decade, the contribution of Islamic finance to North African economies remains small due to a lack of a favorable regulatory environment in the region, S&P Global […]
Malaysia has issued $800 million worth of 10-year trust certificates, billed as the world’s first sovereign U.S. dollar sustainability sukuk as the proceeds will be used exclusively for green projects, the finance ministry said on Thursday. In addition, the Southeast Asian nation also issued $500 million 30-year trust certificates, the ministry said in a statement. […]
Increasing share of Islamic assets in Oman banking sector to support sukuk market By Staff Writer, ZAWYA Moody’s Investors Service said the rising share of Islamic assets in Oman’s banking assets will continue to deepen the market for domestic government sukuk, supporting government liquidity. “We expect the government will meet $2.0 billion-$2.5 billion of its annual […]
BY YOSI WINOSA JAKARTA – Indonesia is in a hurry to increase Islamic financial assets and, under orders from vice president Ma’ruf Amin, the National Committee for Islamic Economy and Finance (KNEKS) will take a progressive approach. Islamic commercial banking assets stood at 593,948 billion rupiah at the end of 2020, making up 6.47% of the […]
