BY HASSAN JIVRAJ Islamic finance standards-setting body AAOIFI is working on a standard for online Islamic crowdfunding and plans to have it ready by the end of next year. “The objective of this standard is to set out a comprehensive framework for Islamic crowdfunding governance with detailed coverage of areas relating to the cybersecurity and disclosure […]
The Securities Commission Malaysia (SC) today launched a new framework to facilitate the offering of Islamic funds with waqf features to enable the growth of the Islamic social finance segment. The development of waqf was identified as one area of significant potential for social development, greater public good and wealth distribution, in the SC’s Islamic Fund and Wealth Management Blueprint, […]
Author: Rebecca Isjwara Indonesia’s planned merger of three state-owned Islamic banks will create an entity with scale comparable with the biggest local lenders and may give a fillip to Shariah-compliant finance in the world’s biggest Muslim nation by population, analysts say. The proposed merger between PT Bank BRIsyariah Tbk, PT Bank Syariah Mandiri and PT […]
DUBAI (Reuters) – Saudi Electricity Co 5110.SE said on Monday it has signed an agreement with the government to convert state liabilities worth 167.92 billion riyals ($45 billion) into a subordinated perpetual financial instrument to strengthen its balance sheet. The Shariah-compliant perpetual equity-like instrument will carry a 4.5% profit rate and a redemption option, it said in […]
his interview is produced and sponsored by Refinitiv. It was first published in the State of the Global Islamic Economy 2019/20 report produced by DinarStandard and supported by the Dubai Islamic Economy Development Centre. The report can be downloaded from here. Serving more than 40,000 institutions in approximately 190 countries, Refinitiv provides information, insights, and […]
DUBAI (Reuters) – Dubai Aerospace Enterprise (DAE), one of the world’s biggest aircraft leasing companies, has hired banks to arrange investor calls ahead of a planned issuance of U.S. dollar-denominated sukuk, or Islamic bonds, a document showed on Monday. DAE, owned by sovereign wealth fund Investment Corporation of Dubai, hired Bank ABC ABCB.BH, Commercial Bank of […]
Muscat: The Government of Oman represented by the Ministry of Finance (MoF) has announced the successful completion of Series 4 of the Omani Rial Sukuk issuance programme. The sovereign Sukuk was issued for an amount in excess of OMR200 million as against the issuance target of OMR175 million following strong demand from local investors and oversubscribed […]
Prof. John Gatsi has said the desire to introduce Islamic banking in Ghana is closer as stakeholders have gained enhanced knowledge about this alternative banking. He explained that as the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930) does not support Islamic banking in its current form, it needs some changes if Ghana has […]
KUALA LUMPUR, Nov — The Islamic Capital Market (ICM) and the demand for Shariah-compliant products is expected to strengthen in the future, supported by its appeal to a broader group of investors, despite the challenging economic climate. In its Economic Outlook 2021 report released today, the Ministry of Finance (MOF) said the ongoing promotion of […]
KUALA LUMPUR, — Regulators need to create a supportive environment for the Islamic finance industry to boost the industry further, a forum was told today. Indonesia’s Badan Pengelola Keuangan Haji (BPKH) executive board member for foreign investment and international relations, Hurriyah El Islamy, said the Islamic finance industry should make it less complicated for the […]
BY HASSAN JIVRAJ LONDON – A recently-launched platform will seek to leverage UK government tax incentives for investors to put money into early stage start-ups and SMEs. The Bristol-headquartered Angel Investors Club (AIC) wants to connect Shariah-compliant and ethical start-ups and SMEs to investors by utilising the Seed Enterprise Investment Scheme and Enterprise Investment Scheme. There […]
By merging syariah units of three lenders, country aims to capture bigger slice of market Jeffrey Hutton Regional Correspondent In Jakarta In Indonesia, being seen as halal is serious business. Starbucks and KFC show off their halal certification from the country’s top clerical body even though the franchises are rarely associated with booze or bacon. But […]
