Valid acceptances, together with Boubyan Group’s existing shareholdings, represent approximately 67.44 per cent. of the issued ordinary share capital of BLME Abdul-Salam Al-Saleh- Press Release The offer will remain open for further acceptances until 1.00 p.m. (London time) on 19 February 2020 Boubyan Bank believes that the acquisition will enable it to provide its clients with […]
DUBAI – Dubai Islamic Bank said it completed the acquisition of Noor Bank to consolidate its position as the top Islamic lender in the United Arab Emirates. Dubai Islamic Bank (DIB) said in a statement the acquisition was concluded through a share swap after securing the necessary approval from the regulatory authorities. The bank said the […]
The two institutions agreed to work in areas of common interest that support the development of the Islamic finance industry The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has signed an MOU with the Participation Banks Association of Turkey (TKBB) to collaborate in the promotion of Islamic finance in Turkey. AAOIFI and TKBB […]
New guidelines released by The Bangko Sentral ng Pilipinas (BSP) could pave the way for new sukuk issuance in one of ASEAN’s fastest growing economies. The Philippines Central Bank (BSP) has released a set of guidelines for the country’s Islamic banks and Islamic banking units (IBUs) and approved the Shari’ah Governance Framework (SGF) to ensure […]
by: Hassan Jivraj The United Kingdom is set to leave the European Union (EU) on January 31. Uncertainty looms as to whether the government will secure a trade deal with the EU or leave in December 2020 without one. Nonetheless, Brexit presents various risks and opportunities, such as Islamic finance playing a role in bilateral […]
Manzil and IFAAS launch the first Shariah compliant investment and property financing products in Canada Affordable and Shariah-compliant property finance and investment solutions now a reality for Canadians TORONTO, January 30, 2020: Manzil announced today the launch of the very first Islamic mortgage product which utilizes the Murabaha (cost-plus financing) structure in addition to introducing […]
By Arno Maierbrugger/Gulf Times Correspondent/Bangkok The global Islamic finance industry will continue to grow at a comparably slow rate of around 5% in 2019 and 2020 in terms of assets, according to the newly issued “Islamic Finance Outlook 2020” by US-based business intelligence firm S&P Global Ratings. This follows a 10% growth rate in 2017 […]
LONDON (Reuters) – Britain’s Debt Management Office said on Monday it was inviting banks to join a syndicate for the country’s second sale of sovereign sukuk or Islamic bond. Britain became the first Western country to issue an Islamic bond in 2014, raising 200 million pounds ($260 million)from a five-year deal that was 10 times […]
BY YOSI WINOSA – SALAAM GATEWAY JAKARTA – Indonesia’s National Islamic Finance Committee (KNKS) is set to be renamed the National Sharia Economy and Finance Committee (KNEKS) to better reflect its mandated work, Dr. Sutan Emir Hidayat, its Director of Education and Research told Salaam Gateway on Monday (Jan 20). The revision draft of Presidential Regulation […]
The Guiding Principles were officially signed in a ceremony today at the Abu Dhabi Sustainable Finance Forum (ADSFF) during Abu Dhabi Sustainability Week. Press Release Dubai, UAE: The DFSA, together with a group of leading authorities in the UAE, has published the UAE’s first Guiding Principles on Sustainable Finance (the Guiding Principles), which will serve as […]
ABUJA, Jan (Reuters) – Nigeria plans to issue sukuk bonds worth 150 billion naira ($490 mln) on the local market this year, the Debt Management Office said on Friday. The debt office said the funds would be used for road projects. ($1 = 306.40 naira) (Reporting by Camillus Eboh and Chijioke Ohuocha; Editing by Alison […]
Islamic finance is ‘going digital’ to better serve the world’s 1.8bn Muslims. Still, it’s uncertain if religious fintechs can attract a critical mass, and compete with their European secular peers. By Isabel Woodford Fintech is a crowded space. But a new subgenre is emerging to attract the world’s 1.8bn Muslims with a Shariah-compliant alternative. Young Muslims want […]
