International Islamic Trade Finance Corporation (ITFC) signs a US$ 250 Million Framework Agreement to support the Development of Key Economic Sectors in the Republic of The Gambia

Africa Press Release The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IDB) Group, has signed a new 5-Year Framework Agreement in favour of the Government of The Gambia that target to provide up to US$ 50 million to the country on an annual basis. The agreement, signed with […]

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Oman hires banks for sukuk in second international debt foray of 2021

By: Yousef Saba Oman has hired banks for its second international bond sale of the year, a planned issuance of nine-year U.S. dollar-denominated sukuk, a document showed on Monday, as it seeks to plug a large budget deficit. Oman hired Citi (C.N), Gulf International Bank, HSBC (HSBA.L), Standard Chartered (STAN.L), Bank ABC and Bank Muscat (BKMB.OM) to arrange investor calls […]

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UK’s Ethos Invest targeting 1 billion pound fund for PE investments in Islamic, ethical SMEs

BY Staff Writer Jun 2021 News Salaam Gateway UK-based Ethos Invest is targeting a fund of 1 billion pounds ($1.39 billion) that will make private equity investments in Islamic and ethical small and medium-sized enterprises. The fund will focus on financial services and technology, Ethos Invest said in a statement on Tuesday (June 29). “The […]

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Egypt nears issuing sukuk bonds as bill moves through parliament

Egypt will start issuing sukuk, or sharia-compliant Islamic bonds, as soon as a law making its way through the country’s parliament goes into effect, the finance ministry said in a statement. “Egypt is preparing to issue its first offering of sovereign sukuk upon approval by Parliament, … which helps achieve financial, economic, and development goals […]

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Turkey sells $2.5 billion in 5-year sukuk

DUBAI, June (Reuters) – Turkey sold $2.5 billion in five-year sukuk on Tuesday after the Islamic bonds drew more than $9.3 billion in orders, a document detailing the transaction showed. The Turkish government U.S. dollar-denominated sukuk were sold at 5.125%, tightened from an initial price guidance of around 5.5%, the document from one of the […]

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Rise in religious conservatism ripples across Indonesian banking sector

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 […]

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Kuwait Finance House hires banks for dollar AT1 Islamic bonds – document

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, […]

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Saudi Arabia Boosts Implementation, Development of Islamic Finance

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 […]

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