The CBUAE said in its UAE Islamic Finance Report 2023 that the Islamic finance sector grew by 11 percent in 2022 Staff Writer, WAM (Emirates News Agency) The Central Bank of the UAE (CBUAE) has revealed that the main Islamic financial markets are located in the Gulf Cooperation Council (GCC), Southeast Asia, and South Asia. The […]
The GIFT Index ranks Qatar as the 8th most conducive ecosystem for Islamic fintech Staff Writer, Gulf Times Qatar’s Islamic Fintech market has been projected to grow to $4bn by 2027, according to Global Islamic Fintech (GIFT) Report 2023/24. The report released yesterday estimated Qatar’s Islamic fintech market at $2.1bn in transaction volume in 2022/23. It […]
Debut US dollar sukuk issuance, anticipated to be of benchmark size, is intended to have a three-year maturity Staff Writer, ZAWYA February 2024 Binghatti Holding, a UAE property development company, will debut its US dollar sukuk in the “coming days,” subject to market conditions. The debut US dollar sukuk issuance, anticipated to be of benchmark size, […]
ESG sukuk market to cross 7.5% of global outstanding sukuk in coming years – Fitch Staff Writer, ZAWYA February, 2024 Outstanding ESG sukuk grew significantly last year, as governments rolled out sustainability initiatives and issuers sought to diversify funding. Outstanding ESG sukuk surged to $36.1 billion as of the end of 2023, Fitch Ratings said on […]
The firm has picked Emirates NBD Capital, First Abu Dhabi Bank and Standard Chartered Bank as joint global coordinators Mohammad Edrees, Reuters News Emirates Strategic Investments Company has hired banks to arrange investor meetings for a 5-year Islamic bond, or sukuk, an arranging bank document said on Wednesday. The firm has picked Emirates NBD Capital, First […]
The initial price guidance for its 5-year sukuk has been placed at around 130 basis points over U.S. Treasuries while its its 10-year sukuk has been placed at 145 bps over the same benchmark Reuters, Reuters News February , 2024 Saudi Electricity Company, the kingdom’s electric transmission monopoly, has given initial price guidance for its dual […]
The report was launched during the 18th AAOIFI-IsDB Annual Islamic Banking and Finance Conference on Sunday, supported by the Central Bank of Bahrain Daily News Egypt, Daily News Egypt December, 2023 The Islamic Corporation for the Development of the Private Sector (ICD) and the London Stock Exchange Group (LSEG) unveiled their annual report on the Islamic […]
The bank’s five-year sukuk carries a profit rate of 5.581% Staff Writer, Gulf Times, November 19, 2023 Qatar Islamic Bank (QIB), the largest Islamic lender in Qatar, has returned to global capital markets with a $500mn sukuk, which was oversubscribed 6.6 times, indicating high demand from investors in Europe, Asia and the Middle East. The bank’s five-year sukuk, which carries […]
According to a report by the EIFA, 14 banks in Egypt have a license from the Central Bank of Egypt (CBE) to offer Islamic products Hossam Mounir, Daily News Egypt, November, 2023 The Egyptian Islamic Finance Association (EIFA) reported that the volume of Islamic banking business in Egypt reached EGP 562bn in September 2023, representing 5% of the […]
Islamic finance assets reached almost $3trln in 2022 Staff Writer, ZAWYA, November, 2023. The GCC countries, led by Saudi Arabia, will remain supportive of the growth in the Islamic finance industry in the next 12-24 months, according to S&P Global Ratings. The growth in the kingdom will be partly driven by the implementation of Vision 2030, which will […]
