Tunisian firms are preparing to issue Islamic bonds as the government finalises rules covering the sector, creating a new funding option for companies in an economy buffeted by labour unrest and militant attacks. Islamic finance – which bars interest payments in accordance with Islamic, or sharia, law – accounts for just 2.5 percent of Tunisia’s […]
Azzad Asset Management becomes the 1st American investment firm to complete external Shari’ah audit. (Falls Church, Virginia, 4th August 2015) — Azzad Asset Management today announced the successful completion of an independent, external Shari’ah audit and verification of its policies and procedures. Azzad is the first investment boutique in the United States to obtain such verification. Conducted […]
Kuwait is preparing legislation to facilitate issues of Islamic bonds by the government as it assesses options to finance a big budget deficit caused by low oil prices, Finance Minister Anas al-Saleh said on Tuesday. “It is among the priorities of the government,” Saleh said of the sukuk legislation. He was speaking via Twitter in […]
The Global Ethical Finance Forum (GEFF) to be held in Edinburgh on the 1st and 2nd of September will feature the first global conversation of experts on the nascent yet rapidly growing green bond and Sukuk sector and how corporations can benefit from this marketplace. The green bond and Sukuk market has witnessed exponential growth […]
The Meethaq Shari’ah Supervisory Board conducted its second meeting of 2015 under the chairmanship of Sheikh Dr. Ali Qaradaghi in presence of all Board members and Sulaiman Al Harthy, Group General Manager – Islamic Banking in Bank Muscat. The meeting was held in Jeddah in Saudi Arabia as all Board members participated in Al Baraka […]
Dubai passes Malaysia, Ireland, London in sukuk listed * State-linked firms supporting Dubai’s effort * Gulf region may be source of future growth * Working on ways to sell sukuk to retail investors * Designing sharia-compliant repurchase agreement Dubai has overtaken other financial centres in listing Islamic bonds on its exchanges, and is mounting a […]
Photo Credit:Reuters/STRINGER Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Wednesday said the first goal of the strategy launched two years ago to develop and promote Dubai as the global capital of Islamic economy has been achieved. H.H. Sheikh Mohammed hailed the achievement made by Dubai […]
The global Sukuk market is heading toward a correction in 2015 after the Central Bank of Malaysia (BNM)–one of the largest issuers of Sukuk worldwide–stopped issuing earlier this year, says a report published today by Standard & Poor’s Ratings Services. But as the report, titled “Global Sukuk Issuance Stalls in 2015 As Major Issuer Exits […]
(Reuters) – Saudi Arabia-based Arab Petroleum Investments Corp (APICORP) could issue its first sukuk later this year, as part of its recently-established $3 billion sukuk programme, the company said on Monday. Photo Credit:Reuters/Faisal Al Nasser – RTX1GK29 The sukuk issuance “will allow APICORP to diversify its funding sources, reduce the overall cost of financing, extend […]
Hussain Al Qemzi, CEO, Noor Bank, today rang the market-opening bell to celebrate the listing of a $500 million Sukuk on Nasdaq Dubai. The Sukuk, the first to be issued by Noor Bank, underlines Dubai’s established expertise in the Islamic bond sector, whose growth is playing a key role in the expansion of the Emirate […]
