RIYADH: Egypt’s first proposed sovereign $5 billion sukuk offering has been assigned a (P)B3 rating by Moody’s Investor Service, meaning it is considered speculative and subject to high credit risk. The categorization from the credit rating agency reflects the government’s issuer rating, according to a statement. The anticipated Trust Certificate Issuance Programme is issued by the Egyptian […]
Overall Nigerian banking sector outlook is ‘deteriorating’, says report Staff Writer, ZAWYA, 2023 Nigeria’s Islamic finance industry will hold its growth trajectory in 2023-2024, driven by the government’s sukuk issuances and policy push, Fitch Ratings said in a new report. The Central Bank of Nigeria has set the regulatory liquidity ratio for Islamic banks at 10%, […]
The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), today signed a Euro 400 million 2023 Annual Plan with the Republic of Senegal, within the revised US$1.5 billion five-years Framework Agreement signed in 2021 to include new priority sectors. The Annual Plan reflects the longstanding cooperation between […]
A benchmark size issuance of fixed-rate long five-year sukuk under DIB’s $7.5 billion issuance programme will follow Yousef Saba, Reuters News February 2023 DUBAI – Dubai Islamic Bank has hired banks to arrange an issuance of U.S. dollar-denominated sustainable sukuk, or Islamic bonds, a bank document showed on Thursday. Bank ABC, Dubai Islamic Bank, Emirates NBD […]
Bank Nizwa, the leading and most trusted Islamic bank in Oman participated in the 12th International Seminar titled, “Success through Synergy”, organised by the Institute of Chartered Accountants of India (ICAI), Muscat Chapter. The seminar witnessed an attendance of more than 250 members, dignitaries and guests from across the globe. Mr Narasimhan, General Manager of […]
Indonesia’s finance ministry made the announcement Stefanno Sulaiman, Reuters News January, 2023 JAKARTA – Indonesia raised 13.85 trillion rupiah ($888.96 million) in an Islamic bond auction on Tuesday, slightly lower than an indicative target of 14 trillion rupiah, the finance ministry said. Incoming bids were 17.45 trillion rupiah, it added. ($1 = 15,580.0000 rupiah) (Reporting […]
Fitch Ratings says medium-to-long term outlook is positive amid intact Islamic investor demand Staff Writer, ZAWYA January, 2023 Global sukuk issuance are likely to rise at a slow pace in 2023 amid market volatilities but will remain a key funding source in core Islamic finance markets, according to a new report from Fitch Ratings. The […]
Staff Writer, ZAWYA The bank will also redeem 2018 sukuk in full January , 2023 Saudi Investment Bank has increased the size of its Tier 1 capital sukuk issuance programme to 5 billion Saudi riyals ($1.3 billion) from SAR 2 billion. In a regulatory filing on Riyadh’s Tadawul exchange, the lender said it will issue […]
By Joann Villanueva MANILA – Islamic banking is not exclusive to Muslims as it provides alternative financial products outside the conventional financial institutions, a ranking central bank official said. Speaking during Tuesday’s Laging Handa briefing, Bangko Sentral ng Pilipinas (BSP) Assistant Governor Arifa Ala said the government is adopting a whole-of-government approach to ensure a […]
by Benjamin Godfrey · 3 min read Wahed has a plan to help its customers grow their funds in the most Sharia-compliant way. American financial technology and service provider, Wahed has extended its global reach with a newly opened office in the United Kingdom (UK). As reported by CNBC, the new office is like a storefront that […]
GENEVA: The Islamic Development Bank has pledged $4.2 billion over the next three years to Pakistan as aid for its climate rebuilding effort, the bank’s president said on Monday. “I am pleased to announce that the Islamic Development Bank group, as part of contributing to the achievement of Pakistan’s climate resilience and development objectives, pledges […]
Monthly issue of the Sukuk Al-Salam Islamic securities oversubscribed by 258% Press Release January, 2023 Manama, Bahrain – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities, has been oversubscribed by 258%. Subscriptions worth BD 111.040 million were received for the BD 43 million issue, which carries […]
