Gov’t eyes Islamic financing for Mindanao projects

By ANTONIO L. COLINA IV  -DAVAO CITY (MindaNews / 11 July) – The government is planning to tap Islamic financing called “Sukuk” to fund big-ticket projects in Mindanao through the state-owned Al Amanah Islamic Bank, an official of the Mindanao Development Authority (MinDA) said. MinDA executive deputy director Romeo Montenegro told “Wednesdays at Habi at Kape” that […]

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Bahrain Islamic Bank (BisB) appoints a New Head of Compliance and Governance

, Bahrain: In line with its strategic aim to continue to retain talent and develop a world class Management Team, Bahrain Islamic Bank (BisB), the leading provider of Sharia compliant integrated financial solutions in the Kingdom of Bahrain, recently announced the appointment of Mr. Mazar Rashid Jalal as the new General Manager(GM) to lead the Compliance and […]

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All set for BOU to issue Islamic banking licenses 

All set for BOU to issue Islamic banking licenses By Samuel Sanya Bank of Uganda (BOU) has finalised the Islamic banking regulations following the amendment of the financial institutions act. The new form of banking is expected to lead to increased investment in Uganda’s financial sector from numerous Islamic Banks that provide commercial services free […]

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Bahrain bond-sukuk spread balloons as investors disagree on credit outlook

The price gap between Bahrain’s U.S. dollar conventional and Islamic bonds has widened to record levels By Davide Barbuscia, Reuters News DUBAI – The price gap between Bahrain’s U.S. dollar conventional and Islamic bonds has widened to record levels, indicating a sharp disagreement between global investors and regional institutions over the country’s ability to avoid a […]

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CBI launches Islamic financing in Senegal

DAKAR, Senegal — With the full financial support of the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), member of the Islamic Development Bank Group (IsDB), Coris Bank International (CBI), a leading bank in West Africa, headquartered in Burkina Faso, has recently launched a range of Islamic financing solutions and products under its Islamic window called “Coris […]

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Appointments: Islamic Bank appoints COO; new corporate finance partner at Smith & Williamson

Birmingham based Al Rayan Bank, which is the oldest and largest Sharia compliant bank in the UK, has appointed Paul McMillan as its new chief operating officer. Al Rayan, which was established in 2004, provides Sharia compliant savings, finance and current account services to over 80,000 personal, business and premier customers. Mc Millan has over […]

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Bahrain Islamic bank relaunches premium banking services

Bahrain Islamic bank relaunches premium banking services Bahrain Islamic Bank (BisB) has announced the relaunch of its Al Thuraya Premium Banking Services with a selection of new unique features tailored to cater to the needs of high net worth individuals. These include dedicated relationship manager, access to preferential rates on deposit and financing, priority in […]

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East Africa rides the Islamic finance train; Uganda next to join

By Arno Maierbrugger/Gulf Times Correspondent/Bangkok Countries in East Africa, those lining the Red Sea coast and those further south, are increasingly joining the Islamic finance industry as their Muslim population grows and demand for Shariah-compliant banking and finance rises. This development is closely watched by Gulf Co-operation Council nations since it could open interesting new […]

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Islamic bond issuance set for slowdown in 2018

Islamic bond issuances set for slowdown in 2018 Declining demand for funds in GCC has resulted in absence of jumbo sukuk issues Dubai: The global sukuk (Islamic bond) market experienced a significant slowdown in issuance in the first half of 2018, with new sukuk issuance expected remain lacklustre in the second half, according to credit […]

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