BY NDUKA CHIEJINA (ASSISTANT EDITOR) ia The Nation – The Central Bank of Nigeria (CBN) says it will charge protection fees from investors in its Non-Interest Asset Backed Securities. One of the features of the CBN Non-Interest Asset Backed Securities (CNI-ABS), contained in a draft framework issued recently by the Apex bank on Non-Interest Asset Backed Securities, […]
DomaCom and Crescent Group have entered into an exclusive Heads of Agreement to deliver a pioneering Islamic home finance product The product will leverage DomaCom’s innovative fractional model that will allow Australia’s 700,000+ Muslim population to purchase a property using Shariah-compliant financing Crescent Group’s plan is to source institutional Islamic funding and structure its products […]
via The Financial Express – The Tk. 40 billion Sukuk was over-subscribed nearly four times to Tk. 151.53 billion in its first auction held on Monday at the central bank. For the first time, the government is mobilising funds from the financial institutions by issuing the Islamic bond. The Bangladesh Bank held an auction, where a […]
The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities, has been oversubscribed by 355%. Subscriptions worth BD 152.458 million were received for the BD 43 million issue, which carries a maturity of 91 days. The expected return on the issue, which begins on 16th December 2020 and […]
Over the years, the world has seen steady growth of the global Sukuk market. Sukuk is defined as a certificate of equal value representing undivided shares in ownership of tangible assets and services. Sukuk is an instrument for raising capital, usually referred to as an Islamic bond, tradeable on the securities exchange. The fundamental difference […]
BY YOSI WINOSA JAKARTA – Financing distributed by Indonesia’s Islamic fintechs reached 1.75 trillion rupiah ($124.2 million) in 2020, below the 2-3 trillion rupiah forecasted pre-pandemic by the Indonesia crowdfunding fintech association (AFPI). The growth from 1 trillion rupiah in 2019 to 1.75 trillion rupiah mid-December this year came in spite of the COVID-19 pandemic challenges, AFPI […]
Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched “businessONLINE” a digital business banking platform, to help businesses in the UAE manage all their banking needs on a single secure, intuitive platform Available to the bank’s small and medium business, large corporate and institutional client base, businessONLINE is a […]
By Adeline Paul Raj / The Edge Malaysia MALAYSIA’s Islamic finance penetration rate has grown steadily over the years and looks on track to reach the central bank’s target of 40% share of total financing by the end of 2020, notwithstanding the disruptions from the Covid-19 pandemic. Bank Negara Malaysia, in its Financial Sector Blueprint […]
Published Dec,2020 via Muscat Daily – The Central Bank of Oman (CBO) will launch the Fintech Regulatory Sandbox (FRS) initiative today, through which participants can apply to live test their innovative Fintech solutions, that are enabled by new technologies, in a safe environment under the supervision of the CBO. The CBO therefore issued the framework for […]
BY HASSAN JIVRAJ LONDON – The Bank of England is set to open its alternative liquidity facility in January 2021 in a move to support the country’s domestic Islamic lenders, according to a senior official. In a speech on Wednesday (Dec 2), Andrew Hauser, Executive Director, Markets at the UK’s central bank said that the alternative […]
BY RICHARD WHITEHEAD KUALA LUMPUR – Freshly flush with millions in fundraising, Joe McGuire is now preparing to take the next steps on his path to launching the world’s first standalone central bank-licensed Islamic challenger bank. In September, McGuire’s fintech start-up, MyMy, was on the receiving end of a 10 million ringgit ($2.45 million) seed injection […]
London’s unique position as a finance and technology hub has it perfectly placed to capitalize on a domestic and global boom in demand for Islamic finance UK’s Islamic finance economy and customers will benefit greatly from London’s dominance in the world of fintech LONDON: London is perfectly placed to continue its rise as a global […]
