Staff Writer, ZAWYA, September, 2023 Uganda will start licensing financial institutions, which want to offer Islamic banking products, a senior official with the country’s central bank said. “We will be licensing financial institutions that want to offer Islamic banking products. A few were awaiting enactment of the law,” The Monitor newspaper reported, quoting Adam Mugume, Bank of […]
In terms of market share, Oman’s Islamic banking assets now constitute 17.2% of the total banking sector assets as of the end of June Hubert, Muscat Daily, 2023 Muscat – Oman’s Islamic banking sector is experiencing robust growth this year, driven by strong demand for Shariah-compliant products and supportive regulations. The total assets of the sultanate’s […]
By Samuel Bogale Management of the newly established Ethiopian Securities Exchange (ESX) is eyeing the abundant resources in the Islamic finance sector for the development of Shariah-compliant capital market products. Planning to introduce various financial instruments that comply with Shariah law, the executives of the ESX said they will work to “integrate Islamic finance principles […]
The third auction of the UAE T-sukuks programme witnessed a strong demand through the eight primary dealers Hazem Hussein & Amjad Saleh, WAM (Emirates News Agency), 2023 The UAE, represented by the Ministry of Finance (MoF), as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has […]
By Ben Margulies The Ugandan parliament passed legislation on June 27 to authorise Islamic banking in the country. The law now goes to the president for assent. The parliament also passed legislation amending tax laws to accommodate Islamic finance activities. The speaker of parliament, Anita Among, said MPs, including herself, had faced pressure not to […]
Jeddah, Kingdom of Saudi Arabia, August 2023 –In a bid to strengthen collaboration and fortify the Islamic finance industry, H.E. Dr. Zamir Iqbal, Vice President of Finance & CFO of the Islamic Development Bank (IsDB), welcomed a delegation from Indonesia at the IsDB Headquarters today. Leading the Indonesian delegation was H.E. Dr. Juda Agung, Deputy Governor […]
Golden Coast Company, affiliated to Golden Pyramids Plaza, considers issuing green sukuk worth EGP 8bn to finance its project in Soma Bay in the Red Sea, sources told Daily News Egypt. It would be the first green sukuk issuance in Egypt. The first issuance of sukuk in the Egyptian market was in favor of Talaat […]
KUALA LUMPUR: The way forward for the Islamic capital market (ICM) in Malaysia is to consider introducing an Islamic social exchange in the near future to strengthen environmental, social and governance (ESG) programmes, especially to support the poor and the needy, said Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin. He said ICM […]
The Islamic Development Bank (IsDB) Group saw the signing of 77 financing agreements worth $5.4 billion for 24 member countries during its annual meeting in the Saudi port city of Jeddah, its chairperson said Saturday. The four-day event, starting on Wednesday, hosted dozens of agreements, panels, summits, and business-to-business meetings with the high-level participation of […]
Initial price guidance for the sukuk was given at 185 basis points over US Treasuries, the document said, and pricing is expected later on Wednesday By Rachna Uppal, Reuters News May, 2023 DUBAI – Aldar Investment Properties, a unit of Abu Dhabi’s largest developer Aldar Properties , launched a $500 million 10-year debut green Islamic bond, […]
