The Federation, which acts as the unified voice of UAE banks, stated that the new law meets the requirements of the great and rapid development witnessed by Islamic banks and financial institutions Staff Writer, TradeArabia The Commercial Transactions Law 2022, which was implemented through a royal decree last year, will help boost Islamic financial and banking […]
Staff Writer, ZAWYA, 2022 Around 87% of Islamic finance professionals think GCC’s focus on sustainable projects to boost green sukuk The market for green sukuk is set for takeoff as demand builds, but global expansion will require greater standardisation and regulation, a report by Global Islamic Finance Forum showed on Thursday. The study, […]
Despite increasing interest rates creating unfavourable pricing conditions for Pakistan in debt markets, the government raised a total of $5.8 billion in H1 2022 Staff Writer, ZAWYA, 2022 With Pakistan’s foreign reserves continuing to deplete through international debt repayments, the government returned to the international sukuk market for the first time since a five-year dollar […]
Monthly issue of the short-term Islamic leasing bonds oversubscribed by 182% Press Release 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 182%. Subscriptions worth BD 47.363 million were received for the BD 26 million issue, which carries […]
Global Green Sukuk issuance of $4.4 billion in H1 2022 Press Release, 2022 Indonesia and the GCC are leading jurisdictions for green and sustainability sukuk, together making up 53% of total issuance. The report recommends promoting common regional and international standards, developing capacity with issuers, and expanding the wider ecosystem. Global green and sustainability […]
These are the strategies that will be conducted (by the government) since we know that our resources are limited, while the (financial) needs to implement the FoLU Net Sink are quite large. Jakarta (ANTARA) – Indonesia is pursuing several funding strategies to realize the 2030 Forestry and Other Land Uses (FoLU) Net Sink, Director General […]
Turkiye aims to position itself as the leading country in Islamic finance, a senior finance official said on Tuesday, Anadolu News Agency reports. “Unlike many countries claiming to be an Islamic financial centre in the world, Turkiye has very important advantages based on its historical, cultural, geopolitical and economic background,” Goksel Asan, Head of the presidency’s Finance […]
October , 2022 The ministry plans to hold an additional auction to raise more on Wednesday Gayatri Suroyo and Fransiska Nangoy, Reuters News JAKARTA – Indonesia sold 1.89 trillion rupiah ($122.21 million) worth of Islamic bonds, below target, in an auction on Tuesday that drew incoming bids worth a total of 6.4 trillion rupiah, […]
Jinan AlTaitoon, CESGA Senior Research Analyst, London Stock Exchange Group (LSEG) The world is facing a significant risk of recession this year that could worsen in 2023, according to the IMF. A report from Refinitiv examines the impact of recent economic developments on the prospects of the global sukuk market in the next five years. […]
RIYADH: Saudi stock exchange’s sukuk issuance grew 5 percent to SR512 billion ($136 billion) in the second quarter of 2022, from SR488 billion in the prior quarter. This is up from SR423 billion in the same period last year, according to statistics by the Capital Market Authority. Despite the growth in issuance, the total value […]
Fitch Ratings says that however, it is uncertain if additional changes will be seen in the near term and issuers have exhibited varying degrees of adaptation, while the practical effect of the new documentation has yet to be tested Staff Writer, TradeArabia Changes in global sukuk documentation linked to UAE Central Bank’s adoption of the Accounting […]
“After declining in 2020 when the pandemic first struck, the return on average assets for most Islamic banking systems improved in 2021, partly because of lower provisioning needs as economies recovered,” Moody’s Investors Service said Staff Writer, Times of Oman Muscat: The profitability of Islamic banks will improve as provisioning needs decline and net profit margins […]
