KUALA LUMPUR,— Malaysia’s Islamic finance sector is expected to sustain double-digit growth to reach almost RM3 trillion in 2020 under the second Capital Market Masterplan, according to Tan Sri Abdul Wahid Omar. The chairman of Bursa Malaysia Bhd said the country’s Islamic funds industry has demonstrated impressive growth. As of March this year, Shariah funds valued […]
The instruments are Qard Hassan, social Sukuk, Waqf, and Zakat By Staff Writer, ZAWYA Islamic finance provides socially responsible products and the COVID-19 environment could give an opportunity to leverage them, a report by S&P Global Ratings showed. Measures to combat the spread of the virus have significantly slowed core Islamic finance economies; leading to higher expected unemployment […]
Funds will aid health, social and business programmes countering effects of virus among bank’s 57 member countries Listing underlines global collaboration in Islamic capital markets to promote socially beneficial initiatives Dubai, 28 June 2020 – Nasdaq Dubai welcomed the listing today of a 1.5 billion US dollar Sukuk issued by Islamic Development Bank (IsDB) to support COVID-19 […]
The 5-year sukuk was priced with a profit rate of 2.95 per cent per annum Dubai: Dubai Islamic Bank (DIB) closed a $1 billion long 5-year sukuk with a profit rate of 2.95 per cent per annum, which is equivalent to 245bps over the equivalent tenor Mid Swap Rate. DIB’s $1 billion sukuk ithe first public benchmark […]
MUSCAT: Oman Arab Bank (OAB) and Alizz Islamic Bank announced the signing of an agreement for the overall structure of the potential merger between the two banks. This step will pave the way for the successful finalisation of two-years of negotiations between both parties. The agreement was signed by Rashad Mohammad al Zubair, Chairman of […]
This initiative marks the beginning of a long-term partnership between both parties, with the aim of further developing Islamic finance tools for the benefit of the world’s most vulnerable refugees and internally displaced persons Press Release In a bid to strengthen collaboration and governance in the area of Islamic social finance, the UN Refugee Agency, […]
Wahed Invest, a U.S.-based Islamic investment platform, has raised $25 million in a funding round led by Saudi Aramco Entrepreneurship Ventures, the venture capital arm of Saudi Aramco. The round also includes existing investors BECO and CueBall Capital, as well as Dubai Cultiv8, and Rasameel, Wahed said in a statement on Monday (June 8). The […]
By Archana Narayanan and Nicolas Parasie (Bloomberg) — The tiny emirate of Sharjah hired banks to raise as much as $1 billion from international debt markets, joining wealthier Gulf states to shore up its finances against the fallout of the coronavirus pandemic. The third-biggest sheikhdom in the United Arab Emirates mandated HSBC Holdings Plc, Mashreqbank […]
Bahrain Islamic Bank (BisB) launched the Tejoori Instant Finance service allowing customers to obtain instant finance within 5 minutes against a pledge from their Tejoori account. Chief Retail Banking of BisB, Dalal Al Qais, said, “BisB continues to launch innovative digital services with an aim to simplify customers’ money matters, in order to provide them with […]
The impact of the novel coronavirus on the global economy is growing and continues to shock the markets in unprecedented ways. On April 20, we have seen US crude oil prices drop to below zero for the first time in 150 years. With COVID-19 continuing to spread across the globe, what does this mean for […]
BY HASSAN JIVRAJ The Republic of South Africa is working on a rand-denominated sukuk for the financial year 2020/2021, according to a spokesperson from the country’s National Treasury. “The BR [Budget Review] 2020 stipulated that the National Treasury plans to issue the Domestic Sukuk in 2020/21. However, considering the current environment, the timelines will depend […]
BY HASSAN JIVRAJ LONDON – The government of the United Kingdom still plans to issue its second ever sovereign sukuk this year despite the coronavirus pandemic, according to a spokesperson from the country’s debt management office (DMO). In an e-mail response to Salaam Gateway, the spokesperson said the government previously announced it intends to issue […]
