Global sukuk issuance is projected to moderate this year after a five-year record streak, reaching $185bln in 2022, as benchmark rates rapidly increase and oil prices remain high Jinan AlTaitoon, ZAWYA Global sukuk issuance raised $100.9 billion in the first half of 2022, slightly lower than the $104.2 billion issued during H1 2021, according to the […]
by:Fatma Salah, Daily News Egypt, 2022 Egypt – Chairperson of the Financial Regulatory Authority (FRA) Mohamed Farid revealed that the authority issued its first license to a financial institution to engage in financing micro enterprises according to Islamic financing formulas. Farid explained that issuing the new license adds a new dimension to the existing financing mechanisms […]
The number of adults in the UAE with a neobank account grew to 19% this year, up from 17% in 2021 by: Waheed Abbas, Khaleej Times, 2022 Neobanking adoption is set to grow in the UAE with more than one-third of residents having a digital bank account in 2023, says a new study. The number of adults […]
By Stefanno Sulaiman, Reuters News –, 2022Notes sold on Tuesday carried weighted average yields lower than comparable notes sold in the previous auction JAKARTA – Indonesia raised 10.64 trillion rupiah ($716.35 million) from an Islamic bonds auction on Tuesday, higher than indicative target of 7 trillion rupiah, its finance ministry said. Total incoming bids were 30.85 […]
The bank will determine the amount and terms of the offered Sukuk based on market conditions Staff Writer, Mubasher, 2022 Riyadh – Saudi National Bank (SNB) has started offering SAR-denominated Additional Tier 1 Sukuk at a par value of SAR 1 million. The bank will determine the amount and terms of the offered Sukuk based on […]
The proceeds from the issuance will be used to refinance the company’s existing Sukuk maturing in July 2022 Staff Writer, TradeArabia, 2022 Bahri, a global leader in logistics and transportation, has said its SR3.9 billion ($1.04 billion) Saudi riyal-denominated seven-year senior unsecured Sukuk has been oversubscribed by 1.95 times. The proceeds from the issuance will be used […]
More than 90% of Fitch-rated sukuk that returned to the market in Q2 of 2022 (2Q22) were investment-grade Staff Writer, TradeArabia, 2022 Total US dollar-denominated sukuk issuance from the core markets of the GCC, Malaysia, Indonesia, Turkey, and Pakistan fell by 17.2% quarter-on-quarter (qoq) in Q2, whilst US dollar bond issuance fell by 63.8%, said Fitch […]
By: Edward Tang At the heart of Islamic bonds or sukuk is the idea of responsible investing, little wonder, then, that it should be finding its place in the world of sustainable investment. The demand for sukuk, commonly known as Islamic bonds, is expected to continue with its steady growth as more investors look for […]
Moody’s says move will also diversify Islamic lenders’ assets Staff Writer, ZAWYA, 2022 Oman’s plan to introduce Islamic money market instruments will support the growth of the Islamic sector and diversify lenders’ assets, according to Moody’s. Last week, the Central Bank of Oman (CBO) announced progress of the planned introduction of Shariah-compliant money market instruments. […]
This makes the total number of standards adopted by SBP 20 Press Release, 2022 Manama, Kingdom of Bahrain: Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is pleased to learn that the State Bank of Pakistan has adopted four additional AAOIFI Shari’ah standards. These standards include Shari’ah standard (SS) No. 10 – Salam and […]
The US is seen as the most favoured destination for capital rich investors from the GCC region such as UAE, Saudi Arabia and Kuwait, besides Malaysia, according to Ocorian, a leading fund manager The global Islamic finance market is projected to reach $3.69 trillion by 2024, fuelled by growing interest in Shariah-compliant capital by both […]
Mohamed Damak Stronger economic growth in core Islamic finance countries is expected to boost industry assets about 10 per cent from 2022 to 2023. The global Islamic finance industry continued to expand in 2021, with assets up 10.2 per cent, versus 11.4 per cent in 2020 (excluding Iran), supported by banking asset growth. The increase last year was […]
