Liau Y-Sing – Bloomberg Islamic finance pioneer Malaysia is looking for new drivers to reignite growth for its US$286 million (RM1.208 billion) industry. Sustainable finance and digitisation of services will lead the way, with lenders expected to adopt technologies such as artificial intelligence and big data to break into under-served markets, said Bank Negara Malaysia […]
Islamic banks’ total assets expanded by 8.1% in 2021 Staff Writer, Gulf Daily News Rising public demand for Islamic products and the expected improvement in operating environment is set to drive growth in Bahrain’s Islamic banking sector, says Fitch Ratings. The ratings agency said the forecast for 2022-2023 is based on rising oil prices, higher real GDP […]
By Joann Villanueva MANILA — The bid to promote Islamic banking and finance in the Philippines got another boost following the signing of a memorandum of agreement (MOA) for the establishment of the Shari’ah Supervisory Board (SSB). The inter-agency Board in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) was formally established last April through the […]
The objective of the standard is to introduce and set out a principle-based guidance in Sharia governance and fiduciary ratings. Staff Writer, Gulf Daily News MANAMA: Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has issued three final governance standards for industry adoption. The standards issued by the organisation’s Governance and Ethics Board […]
RIYADH: Saudi Arabia’s stock exchange will establish a Shariah Advisory Committee tto expand its offering to cover new Shariah-compliant investment tools and products, a statement from the company said. The committee consists of representatives from the Kingdom’s largest financial institutions, who will work towards a unified Shariah-compliant rulebook that will be approved by the members’ […]
The bank has assigned Alistithmar for Financial Securities and Brokerage Company (Alistithmar Capital) to be the lead manager and bookrunner for the potential issue Staff Writer, Mubasher Riyadh – Saudi Investment Bank (SAIB) intends to issue a SAR-denominated Tier 1 Sukuk programme, under which it will offer a total value not exceeding SAR 2 billion […]
According to Fitch Ratings, Islamic banking continues to have significant importance in Bahrain, with its market share rising to 38.8 percent of domestic banking system Staff Writer, ZAWYA BAHRAIN ISLAMIC FINANCE Bahrain’s Islamic banking sector growth (including Islamic windows) is expected to continue growth in 2022-2023, thanks to the strong momentum in 2021, likely driven by […]
Transaction reflects Infracorp’s strategy to accelerate growth across MENA and South Asia regions Staff Writer, TradeArabia, 2022 Infracorp has announced the issuance of a $900 million sukuk, the first-ever green sukuk issued by a Bahraini entity, which has been listed on London Stock Exchange. Hisham Alrayes, Chairman of Infracorp commented: “This sukuk will enable positive […]
The global long-term sovereign sukuk issuance is set to drop to $73 billion in 2022 Issac John, Khaleej Times Global sukuk issuances, which surged 39 per cent to $250 billion in 2021, will continue to grow this year as economies recover from the coronavirus pandemic. “Market activity continues to grow, global sukuk issuance was near $40 […]
Inflation is a major problem for modern economies. Over the years, the problem shifted from one extreme to the other: from “the great inflation” in the 1960s and 1970s, to “the death of inflation” and “inflation myth” in the 1990s and 2000s, to the “deflation monster” in 2010s, and most recently, to “the biggest inflation […]
Islamic Finance is set to drive a growing focus on ESG and sustainability in the wider Halal economy, new research* with leading Islamic Finance professionals working across a wide range of sectors shows. Up to 88% of Islamic Finance professionals believe the growing focus on ESG and sustainability in their industry will mean the wider […]
The issuance is divided into two tranches Staff Writer, Arab News RIYADH: Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion ($2.75 billion). The issuance is divided into two tranches. The first tranche has a size of SR3.5 billion maturing in 2030, while the second […]
