Home > NewsCom

NewsCom

#Sukuk: Borrowing for development without fear of interests

25 Sep 2017 15:16 #Nigeria's Federal Government successfully concluded the issuance of N100billion sukuk on Friday, but the issuance has divided the country along religious lines. The Christian Association of Nigeria (CAN) described the issuance as a subtle attempt...

Social Islami Bank buys into IDB's #realestate #fund

25 Sep 2017 14:51 #Bangladesh-based Social Islami Bank (SIBL) is set to invest $2 million in a real estate-focused private equity fund managed by the Islamic Development Bank. The fund is called the Awqaf Properties Investment Fund (APIF) and aims to invest in Awqa...

New #fund offers opportunity to tap into global market

25 Sep 2017 14:37 CIMB-Principal Asset Management (CIMB-Principal) announced the launch of its CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds. The fund offers Malaysian retail and corporate investors an opportunity to tap into...

Dubai’s Arqaam Capital launches specialist fixed income #funds in DIFC

25 Sep 2017 14:25 Dubai-based investment bank Arqaam Capital has announced the launch of two specialist fixed income funds located within Dubai International Financial Centre (DIFC). The high income fund will invest in emerging markets with a focus on the MENA regi...

QIB named as safest Islamic bank in #Qatar

25 Sep 2017 14:17 Qatar Islamic Bank (QIB) has been recognised by Global Finance as the safest Islamic Bank in Qatar and one of the safest Banks in the Middle East. Also, QIB was recognised as the second safest Bank across the banking sector, and the third safest I...

London judge postpones decision on Dana Gas #sukuk hearing

22 Sep 2017 15:15 A London High Court judge will decide on Friday whether to continue proceedings on the validity of $700 million sukuk issued by Dana Gas. United Arab Emirates producer Dana Gas started proceedings in June to have its sukuk declared invalid and unl...

#Algeria plans first #sukuk issuance in 2018 -PM

22 Sep 2017 15:05 Algeria plans to issue its first sukuk next year as it seeks new funding sources after a fall in energy earnings. Prime Minister Ahmed Ouyahia said the government would introduce Islamic financial services at two state banks before the end of this...

#Algeria: 6 government banks to offer Islamic banking by 2018

22 Sep 2017 15:00 Algeria’s Prime Minister, Ahmed Ouyahia, announced that Islamic banking is to be approved in two public government banks before the end of this year and will be approved in four other banks in 2018. According to Ouyahia, this funding was inevitabl...

Dana Gas and partners start arbitration case against MOL over #Kurdistan settlement

21 Sep 2017 15:58 Dana Gas and its partner Crescent Petroleum have begun arbitration proceedings against Hungary's MOL Group over Dana's settlement agreement with the Kurdistan Regional Government (KRG). The KRG agreed to pay $1 billion to the consortium and to rec...

#Saudi Domestic #Sukuk: Indication of Financial Solidity

21 Sep 2017 15:45 The Saudi Finance Ministry announced that the third domestic sukuk issuance reached 350% in a record rate, while the first issuance was at 297% and the second at 300%. These figures indicate the solidity of the Saudi financial and banking sectors....

EPF to boost #investments in shariah-compliant private equity funds

20 Sep 2017 14:57 The #Malaysian Employees Provident Fund (EPF) is prepared to increase its investments in shariah-compliant private equity (PE) funds. Deputy CEO Datuk Mohamad Nasir Ab Latif said the pension fund has not met its full asset allocation target for it...

#DIFC #Wealth and #Asset Management Report 2017

20 Sep 2017 14:48 DIFC published a report about the Wealth and Asset Management industry.From the abstract:"Continued growth in Islamic asset management Islamic asset management [IF: Islamic mutual fund business only] continues to grow, at a moderate CAGR of 2...

#Brexit suspense casts shadow over #UK as an Islamic finance hub

20 Sep 2017 14:45 Uncertainty over the UK’s future status as a financial hub after leaving the European Union (EU) is already casting a shadow over London’s Islamic finance sector. It is estimated that London would lose at least 10,000 banking jobs and 20,000 roles...

Jaiz Bank: Balancing the Business and The Market

20 Sep 2017 14:32 After the first tier commercial banks in Nigeria, Jaiz Bank was the most active stock on the exchange with volumes of 7,179,550 with a total value of N4,682,686.00. The increased activity is indicative of swinging sentiments in favour of the stock...

Why #green #Sukuk could be a key growth driver for Islamic finance

19 Sep 2017 18:24 Islamic finance is exploring green bonds in order to develop Sharia-compliant financial products to invest in climate change solutions. Green Sukuk are Sharia-compliant investments in renewable energy and other environmental assets. Over $30bn wor...

KIA appoints consultant to study possible #merger of KFH and AUB – Tie-up will make KFH the largest bank in #Kuwait: Moody's

19 Sep 2017 18:12 Kuwait Investment Authority has appointed a global consultant to study the merger of two banks, Kuwait Finance House (KFH) and Ahli United Bank (AUB). Moody’s said in a report that the merger of the two banks will have a positive impact on credit...

Jaiz Bank’s capital base hits N15bn

19 Sep 2017 18:03 Jaiz Bank CEO Hassan Usman said that #Nigeria would become one of the countries to successfully offer Sovereign Sukuk in local currency. The Federal Government floated around N100bn and according to him, the offer was to last for five days. Hassan...

CIMB Islamic outlines #growth #plans

19 Sep 2017 17:54 In this interview CIMB Islamic Bank CEO Mohamed Rafe Mohamed Haneef talks about the bank's achievements in Malaysia and its growth plans. The most significant segment for CIMB Islamic Bank is retail banking. When Haneef joined the bank, consumer b...

Interview with Mr. Khairul Kamarudin, CEO of Bank Islam #Malaysia Berhad

19 Sep 2017 17:25 In this interview Khairul Kamarudin, CEO of Bank Islam Malaysia, talks about his leadership style and areas of focus. Besides sustainability, the other main area of focus will be digitalisation. In 2016 the bank launched the innovative product cal...

MSM okays 35 Sharia compliant firms

18 Sep 2017 14:42 Muscat Securities Market (MSM) adopted a list of Sharia compliant companies for the second quarter of 2017. The list of companies includes 35 public shareholding companies: Al Saffa Food, Al Anwar Ceramic Tiles, Al Izz Islamic Bank, Al Jazeera Ser...

QInvest invests in #Spanish #marina OneOcean Port Vell

18 Sep 2017 14:36 #Qatar's QInvest has invested in OneOcean Port Vell in Barcelona, Spain. Originally built for the 1992 Olympic Games, the marina recently completed its transformation to a luxury facility, creating the ultimate destination for yachts up to 190m. Q...

Global #debt may be understated by $13 trillion - BIS

18 Sep 2017 14:25 Global debt may be under-reported by around $13 trillion because traditional accounting practices exclude foreign exchange derivatives. Bank for International Settlements (BIS) researchers said it was hard to assess the risk this missing debt pose...

Cagamas issues country's first dual tranche #sukuk reopening

18 Sep 2017 14:17 Cagamas announced its 14th issuance for the year, a three-year, RM1 billion sukuk, which represents Malaysia's first ever dual tranche sukuk reopening. Proceeds from the issuance will be used to fund the purchase of Islamic house financing from th...

Islamic Development Bank Group is investing more than US$2 billion into projects in #Kazakhstan

18 Sep 2017 14:07 The Islamic Development Bank (IDB) is investing more than US$2 billion into innovative projects in Kazakhstan. The three major initiatives are the establishment of an organization on food security of Muslim countries, a project of integration of I...

Economics and Pro-Social Behaviour

15 Sep 2017 14:23 Values and norms can be positively utilized in achieving development goals where commercial interests are not good stimulators. Redistribution of resources is vital to enhance income as well as the capacity to earn sustainable incomes. This requir...

Global #sukuk market to continue upward trajectory, says Islamic finance promotion agency

15 Sep 2017 14:08 According to the Malaysian International Islamic Financial Centre (MIFC), the global sukuk market is set to continue its upward trajectory in 2017 as the fundamentals supporting their issuance remain intact. MIFC said global sukuk issuances stood...

#China-#UAE moot on Islamic banking, finance explores int’l cooperation in support of #OBOR Initiative

15 Sep 2017 10:33 The Dubai Center for Islamic Banking and Finance in Hamdan Bin Mohammed Smart University (HBMSU) concluded the 2nd China-UAE Conference on Islamic Banking and Finance. The two-day event focused on the objectives of the One Belt, One Road (OBOR) in...

#Kenya just stands out: Dr Adnan Chilwan, GCEO, Dubai Islamic Bank

14 Sep 2017 12:40 Dr. Adnan Chilwan, CEO of Dubai Islamic Bank (DIB), said that Kenya stood out to the Bank as a stepping stone to expanding its operations into Africa. In May 2017 DIB was granted a banking licence by the Central Bank of Kenya to operate a subsidia...

Dubai Islamic Bank hits the 'billion dollar profits club', what's next?

14 Sep 2017 12:26 In this interview, Dr. Adnan Chilwan, CEO of Dubai Islamic Bank, reflects on the bank’s performance in the last couple of years and prospects for future growth. Dubai Islamic Bank (DIB) has entered the billion dollar profits club and the challenge...

#Algeria turns to Islamic finance, bourse to rescue 'worrying' economy

14 Sep 2017 12:11 Algeria’s new government will introduce Islamic finance and develop its stock market to draw more investment into the economy. The country currently struggles to cope with a sharp fall in energy earnings. Prime Minister Ahmed Ouyahia plans wider r...

First Shariah-compliant #M&A #insurance policy in MENA region launched

14 Sep 2017 12:00 American International Group (AIG) has placed the first Shariah-compliant mergers and acquisitions (M&A) insurance policy in the Middle East and North Africa region (MENA). AIG’s Warranty and Indemnity insurance product helps protect buyers an...

#Malaysia wins praise for #green #sukuk initiative

14 Sep 2017 11:36 The World Bank has praised Malaysia for financing sustainable, climate-resilient growth. Victoria Kwakwa, World Bank regional vice-president for East Asia and Pacific, said Malaysia’s innovative green sukuk initiative would help close the gap for...

S&P Global Ratings: Global issuance of #sukuk to moderate in 2018 as Islamic finance moves into slower growth

14 Sep 2017 11:18 S&P Global Ratings highlighted global issuance of sukuk in the first half of 2017 was good, but expects it to moderate in 2018. S&P head of Islamic finance Mohamed Damak said 2018 was less certain, as the large issuances of last year are n...

Fitch: Tougher operating environment challenges #Saudi Islamic banks

14 Sep 2017 11:06 According to Fitch Ratings, a tougher operating environment is continuing to challenge Saudi Islamic banks. Sustained low oil prices have taken their toll on economic growth and government spending and this affects certain sectors. Asset-quality m...

Silk Bank to grow in Islamic banking

12 Sep 2017 14:46 #Pakistan's Silk Bank plans to expand its Islamic banking business amid growing demand for Shariah-compliant financial products in the country. The State Bank of Pakistan has given approval to the bank for opening of 20 Islamic and 15 conventional...

Deposits of Islamic banks grow 10pc

12 Sep 2017 14:36 The State Bank of #Pakistan (SBP) issued the Islamic Banking Bulletin for April-June. It reveals that deposits of the Islamic banking industry increased by Rs156 billion or 10% quarter-on-quarter to Rs1,720bn. Deposits of the overall banking indus...

Hong Leong Islamic lends RM350m to TERAJU

12 Sep 2017 14:27 Hong Leong Islamic Bank (HLISB) has pledged RM350 million for the Bumiputera Agenda Steering Unit (TERAJU) via its new Bumiputera companies programme. Of that amount, RM225 million will go to working capital and the balance for asset acquisition....

Arabesque Appoints Three New Members to Board of Directors

12 Sep 2017 14:17 Arabesque has appointed three new non-executive directors to the Board: Dr Carolyn Woo, former CEO of Catholic Relief Services; Professor John Ruggie, Harvard Kennedy School; and Yolanda Kakabadse, President of WWF International. They join Barbara...

Conditions Conducive for Islamic Finance Expansion in #Morocco- Al Baraka Bank

12 Sep 2017 14:11 Bahrain’s Al Baraka Bank deems that the regulatory framework in Morocco is conducive for the launch of an Islamic finance venture. The Bank’s Chief Executive, Adnan Ahmed Yousif said Al Baraka targets the expanding Islamic finance in Morocco in ef...

#Indonesia, the next big #market for Dubai Islamic Bank?

11 Sep 2017 12:01 In this interview Dr. Adnan Chilwan, CEO of Dubai Islamic Bank (DIB), speaks about the Indonesian market and the positioning of Dubai Islamic Bank. In March 2017 Indonesia’s Bank Panin Syariah rebranded to Panin Dubai Syariah Bank (PDSB) and DIB h...

Six #Islamic #banks collaborate to develop #waqf #fund

10 Sep 2017 07:40 Six Malaysian Islamic banks have agreed to jointly develop a waqf fund which focuses on projects in four areas — economic empowerment, education, health and investment.The banks are namely: Affin Islamic Bank Bhd, Bank Islam Malaysia Bhd, Bank Mu...

FG starts pre-offer #road #show for #N100bn #Sukuk

10 Sep 2017 07:34 In Lagos, the Debt Management Office started a national road show last week in preparation for the issuance of the much awaited N100bn non-interest bearing Sukuk bond. The Office said in a statement, that the road show led by the Director-General...

Rise of #Islamic #finance meets #human #capital #gap

06 Sep 2017 11:37 The strongly growing popularity of Islamic banking and Islamic finance and its increasing global spread has led to a considerable undersupply of talent in this sector. Both the Middle East and Southeast Asia, but also new regions currently adaptin...

The Principles for #Sustainable #Insurance #Initiative partners with the Microinsurance Network

06 Sep 2017 11:31 The UN Environment’s Principles for Sustainable Insurance Initiative is the largest collaboration between the United Nations and the insurance industry. It announced its partnership with the Microinsurance Network, a global multi-stakeholder plat...

#PNB expanding #Islamic #finance agenda: Wahid Omar

04 Sep 2017 14:47 Permodalan Nasional BHD is pushing for much bigger Islamic financial activities in order to turn Malaysia into a centre of global Islamic banking. In an interview to mark his one-year stint in the country’s largest unit trust fund, group chairman...

#Turkish participation banks' #profit #soars 36 pct in first half

04 Sep 2017 14:42 The Participation banks achieved a profit of approx. $223.29 million in the first half of 2017 with an increase of 36 % compared to the same period the year before. According to information put together by the non-consolidated financial statement...

The #continuing allure of #Islamic #finance

04 Sep 2017 14:36 The total Islamic finance industry was estimated at around $ 1.9 trillion in assets for the year end of 2016, and it pales into insignificance compared with traditional finance. However of special interest is the growing popularity of Islamic fin...

#UAE to reopen, #Kurdistan #deal to boost #Dana #Gas

04 Sep 2017 14:27 The stock markets in the United Arab Emirates look likely to trade softly as they reopen on Monday after the Eid holidays, although Abu Dhabi's Dana Gas might just rise sharply after it reached an agreement on overdue payments from the government...

#Master in Islamic Finance

01 Sep 2017 13:51 The Islamic Corporation for the Development of the Private Sector (ICD) in collaboration with IE Business School offers a training program for the development of executives across the Islamic finance industry. The Master in Islamic Finance program...

Advancing financial #inclusion for #Indonesian #women

01 Sep 2017 13:36 Commonwealth Bank and Mastercard announced a collaboration to better financial inclusion for Indonesian women. This collaboration will have three key pillars: enhancing formal networks by knowledge exchange among women-owned businesses, innovating...

Share

Piero della Francesca, ‘La città ideale’, Italy XVI century