The bond was sold in three tranches of seven years, ten years and 15 years Nellie Peyton, Reuters News, 2022 DAKAR – Senegal has issued a sukuk, or Islamic bond, worth 330 billion CFA francs ($541 million) to finance the acquisition of government buildings and other projects, a branch of the Islamic Development Bank Group said […]
Subscriptions worth BD 32.8 million were received for the BD 26 million issue Press Release, 2022 Manama, Bahrain – The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 126%. Subscriptions worth BD 32.8 million were received for the BD 26 million […]
Redistributive mechanisms in Islamic social finance are an increasingly prominent part of the quest for a more equitable distribution of wealth across all strata of society, especially in OIC countries Tayyab Ahmed, ZAWYA 2022 Inequality across and within countries has grown. According to the UN’s World Social Report 2020, over 70% of the world’s population lives […]
Staff Writer, Arab Finance June, 2022 Egypt is seeking to attract new segments of local and foreign investors who are interested in investing as per sharia law The Egyptian government is considering the issuance of the first sovereign sukuk over the coming period, Minister of Finance Mohamed Maait said on the sidelines of the Islamic Development […]
Investment management firm Invesco said that investors are shifting focus from portfolio balance to include allocations to cash, gold and bonds for safety in wake of ‘perfect storm’ of factors Staff Writer, ZAWYA 2022 Investors are shifting their focus on portfolio balance in the wake of an unprecedented ‘perfect storm’ of economic shocks, according to […]
The competitive tender witnessed a strong order book in excess of USD 1.86 billion, representing an average bid-to-cover ratio of 181% Press Release June 2022 Kuala Lumpur, Malaysia: The International Islamic Liquidity Management Corporation (IILM) has successfully reissued a total of USD 1.03 billion short-term “A-1” rated Ṣukūk across three different tenors of one, three and six-month […]
JAKARTA, (Reuters) – Indonesia has raised $3.25 billion by selling U.S. dollar-denominated Islamic bonds with 5-year and 10-year tenures, the country’s biggest global sukuk issuance, the finance ministry said on Wednesday. The 5-year notes carry a coupon of 4.40%, while the 10-year notes have a 4.70% coupon, below the sovereign’s initial price guidance, it said […]
By Sohail Sarfraz, 2022 ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is planning to work with stakeholders for increasing the volume of Takaful in Pakistan by launching Taktech (Takaful technology) to revolutionize the Takaful sector. SECP officials informed the media about the new initiatives of the Islamic Finance at the SECP headquarters here […]
Moody’s points to huge demand for interest-free banking, high growth of Islamic banking by: Salman Siddiqui,2022 KARACHI:The banking sector is on the rise in Pakistan, but Shariah-compliant banks are leapfrogging and set to outpace the conventional banks in the coming years, as more banks are anticipated to apply for Islamic banking licences. The Shariah-compliant banks […]
By: Marlena Kareem Gatehouse Bank has launched a range of green home financing products for the UK. It is the first Shariah compliant finance provider in the UK to enter this market. Properties need to come with a suitable Energy Performance Certificate, which records its energy efficiency and environmental impact rating based on CO2 emissions, to […]
HNW investors have already taken steps to integrate their Islamic beliefs via Shariah-compliant strategies, and want to learn more about sustainable investments, the head of New Markets at Lombard Odier said There is a “strong shift” towards value-based investing, especially among high net-worth (HNW) investors in the Middle East region, where strong religious, cultural, and […]
GCC issuers dominated ESG sukuk issuance in Q1, accounting for 59 percent of cumulative global ESG sukuk issuance. Jinan Al Taitoon, ZAWYA May , 2022 Environmental, social and governance (ESG) sukuk issuance, comprising green and sustainability-linked sukuk, was dominated by mostly GCC-based financial institutions in Q1 2022, though most issuances came from the energy and utilities […]
