Why Islamic Finance Benefits Everyone, Not Just Muslims
Islamic finance is often mischaracterized as a domain reserved exclusively for Muslims. However, its foundational principles possess universal …
Finance
Islamic Banks’ Growth in Saudi Arabia to Continue Unabated
JEDDAH — S&P Global Ratings forecast oil prices will stabilize at $50 per barrel in 2017 and 2018, with unweighted average GDP growth in the six …
Meethaq Bank, Oman Posts Q1 results
Meethaq Islamic financing receivables rose to OMR 902 million of 31 March 2017 compared to OMR 665 million in the same period of 2016. Islamic banking …
Qatar First Bank Announces key Appointments
Qatar First Bank (QFB), a leading Shari’ah compliant bank based in Qatar, has announced several key appointments in the senior management level in the …
Al Rayan Bank Opens New London Office to Meet Commercial Finance Demand
Al Rayan Bank has opened a new office in London’s West End to support its growing commercial finance business.
The expansion follows the appointment …
ITFC to Sign $1bn Agreements to Boost Trade Development in Member States
JEDDAH: International Islamic Trade Finance Corporation (ITFC) is scheduled to sign deals on Thursday exceeding $1 billion to support strategic …
ICD Signs MOU to Introduce Islamic Banking in Azerbaijan
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, will …
Malaysia Eyes Starring Role in Islamic Finance
Southeast Asia is enjoying rapid economic development, while many Muslims have become prosperous in the region. But the Quran forbids charging …
Pak Govt Plans Rs125-150 Billion Ijara Sukuk Issue by July
KARACHI: The government is looking to raise as much as Rs150 billion by issuing fresh Ijara Sukuk in the domestic market in July 2017 to help finance …
Halal Takaful Nigeria Distributes Surplus Bonus To Customers
The Islamic Insurance division of Cornerstone Insurance Plc, Halal Takaful Nigeria has distributed surplus bonus to its customers in appreciation of …
KPMG, Sberbank Agree on Counterpart Financing at Kazan Summit 2017
Baku, Fineko/ABC.az. The “Counterpart Financing: #NewReality” business breakfast, co-hosted by Sberbank and KPMG, was conducted on May 19 …
Bank Muscat’s Meethaq Islamic Finance Receivables Increase to OMR902m
Muscat: Bank Muscat’s Meethaq Islamic financing receivables rose to OMR902 million, as of March 31, 2017, compared with the OMR665 million in the same …
Guyana and Suriname Finance Ministers to Attend Islamic Bank Meeting in Jeddah
JEDDAH, Saudi Arabia — The finance ministers of Guyana and Suriname, Winston Jordan and Gilmore Hoefdraad, will lead their respective …
SEC Achieves Sukuk Rollover Transaction
Saudi Electricity Company (SEC) has announced the results of a special meeting of the holders of the Saudi Electricity Sukuk 3.
Saleh Al-Awajji, SEC …
AAOIFI Launches New Guidelines for Islamic Finance
As part of its consistent efforts to regulate the Islamic banking sector, The Accounting and Auditing Organisation for Islamic Financial Institutions, …
Dentons Advises Damac on Tender Offer, New Sukuk Issuance
Law firm Dentons has advised Damac Real Estate Development Limited on its tender offer in respect of the outstanding $650m Trust Certificates, due …
Islamic Financing can Facilitate Sustainable Developments: SC, World Bank
KUALA LUMPUR: The Securities Commission Malaysia (SC) and the World Bank Group say more sustainable developments can be created when Public Private …
Malaysian Banker Lobbies For Separate Listing of Islamic Shares
KUALA LUMPUR: The number of syariah-compliant stocks on the local bourse can be increased by creating a separate listing of Islamic shares (i-shares) …
Government of Dubai Repays $600m Sukuk Certificates
Dubai The Government of Dubai, acting through the Department of Finance (DOF), announced that the $600 million Sukuk Trust Certificates issued on 2 …
Cagamas Achieves Highest Turnover in Secondary Market for Fixed Income
KUALA LUMPUR (May 5): Cagamas Bhd achieved the highest secondary market volume in fixed income market and among AAA rated papers in 2016, with total …
Islamic Banking Sector in Pakistan Progressing, Says Sindh Governor
Muhammad Zubair assured that federal government will provide every possible assistance in removing hurdles in way of Islamic banking.
Sindh Governor …
Islamic Finance Professionals Train Imams, Others In Nigeria
THE Lagos State government has commended the Institute of Islamic Finance Professionals (IIFP) for coming up with an initiative to lessen the …
Cahya Mata Sarawak Issues RM500m Sukuk
Kuala Lumpur: Cahya Mata Sarawak Bhd (CMS) has made its first issuance of sukuk amounting to RM500 million mainly for financing the capital …
Saudi Arabia Sets Islamic Finance Benchmark with Record US$9bn Sukuk
After wowing the markets with its landmark US$17.5bn sovereign bond, the KSA repeated the trick on the Islamic finance side, issuing the largest sukuk …