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Abu Dhabi Islamic Bank Funds $32.2 Million Deal Of A #UK Property

12 Jun 2018 14:30 Abu Dhabi Islamic Bank (ADIB) UK, has arranged a Sharia’a-compliant transaction to finance the acquisition of Lateral House, located in Leeds, UK. The deal involves a sum of $32.2 million on behalf of an Abu Dhabi-based private banking client. Ear...

#Morocco to issue first sovereign Islamic bond worth 1 bln dirhams

08 Jun 2018 13:36 Morocco is preparing to issue its first sovereign sukuk worth 1 billion dirhams ($105 million). According to Finance Minister Mohamed Boussaid, the legal framework is now prepared and issuance is expected in the coming weeks. Earlier, the cabinet...

Opinion: Why there's no better time for GCC's #fintech revolution

08 Jun 2018 13:26 As financial technologies continue to develop, one region in particular stands to benefit: the Gulf. This isn’t a revolution that is far off, it is happening today. For the countries of the GCC, fintech couldn’t arrive at a better time. The countr...

UNHCR calls on Muslims to aid refugee families through #Zakat contributions

08 Jun 2018 13:16 UNHCR, the UN's Refugee Agency, is counting on the generosity of Muslims to allocate their Zakat to refugee families before the end of the Holy Month. UNHCR provides much-needed cash assistance to extremely vulnerable Syrian refugee families witho...

The Islamic Development Bank Launches New Brand for the First Time in its History

08 Jun 2018 13:08 The Islamic Development Bank (IsDB) has been undergoing significant strategic reform in the last year, led by the Bank’s new President, H.E. Dr Bandar Hajjar. The new brand identity maintains the core elements of the IsDB’s heritage while signalli...

Algosaibi signs grant agreement with Ebdaa Bank

08 Jun 2018 12:56 The Algosaibi Holding Group has signed a grant agreement with Ebdaa Bank. This grant of BD100,000 ($263,000) will enhance the bank’s financial solvency and increase its ability to expand borrowers list which currently includes more than 2,500 borr...

Fitch: #UAE Reforms Aid #Sukuk Market; Implementation Still Key

08 Jun 2018 12:46 The UAE's Securities and Commodities Authority (SCA) said that issuers of Islamic securities should improve disclosure. Issuers should specify how transaction resources and revenues would be treated if a security were deemed no longer compatible w...

Lombard Odier launches Shari'ah-compliant #investment offering

07 Jun 2018 15:15 Lombard Odier has launched a full suite of Shari'ah-compliant investment solutions. Arnaud Leclercq, Limited Partner at Lombard Odier Group said that since the offering began as a bespoke creation for one client, it has grown from a $10 million to...

Exciting weekend- going on fundraising; Swiss vote for full money

06 Jun 2018 15:48 Dear Readers,The coming weekend has two highlights for me:1st: On Saturday I participate the second time at Unicef Cycling for Children. Going with my bike in the Swiss alps and cycle there about 800 elevation meters one lap over 20 km. Looking fo...

Better late than never? #Brunei and its role in the #Fintech revolution

05 Jun 2018 19:43 Singapore battles with Australia and Hong Kong to be the region’s leading Fintech hub. She has moved ahead of her Southeast Asian neighbours, including newcomers like Brunei. Brunei launched its Fintech office in 2017 and at the same time put in p...

#Malaysia to retain position as world's premier #sukuk issuer

05 Jun 2018 19:28 Malaysia will remain the market leader in global sukuk issuance despite recent delays and cancellations of mega projects. CIMB Islamic Bank CEO Rafe Haneef said the delays of some mega projects would have some impact sukuk deals, but it is still b...

GII Islamic REIT acquires $32mln office in Dubai

05 Jun 2018 19:18 GII Islamic REIT has acquired an AED 117.54 million two-floor office property in Downtown Dubai developed by Emaar Properties. The property is under a lease agreement with a global professional services firm, whose term will end after three years....

Dana Gas gets wide support from creditors for #sukuk restructuring

05 Jun 2018 19:12 UAE energy producer Dana Gas announced that a large majority of holders of its outstanding $700 million sukuk had consented to a proposed restructuring of the notes. The company, which last year refused to repay creditors, reached last month a res...

ESG podcast: Securities Commission #Malaysia outlines plans for green Islamic finance (part 2)

05 Jun 2018 10:16 In this podcast Zainal Izlan Zainal Abidin of Securities Commission Malaysia speaks about the country's strategy for socially responsible and sharia-compliant investing. He talks about the challenges in making Malaysia a global Islamic finance cen...

#Australia should consider Islamic finance to bridge infrastructure gap

05 Jun 2018 10:11 According to Crescent Wealth managing director Talal Yassine, Australia should consider Islamic finance to bridge its infrastructure gap. In his opinion, if super funds continue to spurn local infrastructure investment in favour of offshore assets...

We can’t wait for Islamic Banking - bankers

05 Jun 2018 09:57 In #Uganda more than half of the 24 licensed conventional banks have expressed interest in providing Islamic banking products. The latest to show interest is EXIM Bank. Raj Banerjee, the deputy chief executive of EXIM bank, said they cannot wait t...

INTERVIEW-How can new crowdfunder GlobalSadaqah improve transparency, impact of Islamic social finance?

05 Jun 2018 09:48 In this interview Umar Munshi, the founder and CEO of Ethis Ventures talks about the Islamic crowdfunding sector. Ethis Ventures is a pioneer in the sector centred in Southeast Asia, in Singapore, as well as in Malaysia and Indonesia. Ethis Ventur...

Decentralized Islamic Bank Hada DBank Lands First Corporate Client

04 Jun 2018 12:24 Hada DBank has landed its first corporate client in the shape of Uberstate. As part of the deal Uberstate will purchase $1 million worth of HADA tokens. Both the startups will look to support each other to make a sustainable crypto-economy possibl...

Regulations are hindering growth of Islamic finance

04 Jun 2018 12:14 The steady growth in Islamic banking in Kenya was unexpected when Islamic finance started in Kenya in the last decade. The Finance Act of 2017 made amendments to the Co-operative Societies Act to facilitate shariah compliant products and enhance f...

The evolving landscape of Islamic finance: regulatory developments

04 Jun 2018 12:00 The Securities and Exchange Commission of Pakistan (SECP) has taken a number of measures for the effective regulation of Islamic finance in the country. The SECP has constituted a Shariah Advisory Board, consisting of renowned scholars and has est...

ABL asset management launches ABL Islamic asset allocation #fund

04 Jun 2018 11:39 ABL Asset Management has launched the ABL Islamic Asset Allocation Fund (ABLIAAF), an open-end Shariah Compliant Asset Allocation Scheme. The fund is now open for subscription. ABL Islamic Asset Allocation Fund will operate under the guidelines of...

#Kuwait Bank Adopts Ripple for Instant Cross-Border Payments

31 May 2018 17:39 The Kuwait Finance House (KFH) has joined RippleNet, an enterprise blockchain network for international remittance payments. RippleNet is a SWIFT-replacement global blockchain network that sees over 100 financial institutions including banks, paym...

#Sukuk issuance growth to remain 'unspectacular' on structural constraints, Fitch says

31 May 2018 17:28 According to Fitch Ratings, the moderate growth in sukuk issuances in the first quarter underpins continued investor interest, but it also points out to structural constraints. The total volume of sukuk rated by Fitch for the three-month period th...

Group roots for deepening of Islamic finance

31 May 2018 17:18 In #Kenya a lobby group has called for the review of regulations governing Islamic banking and Sharia'h compliant products offered by conventional banks so as to resolve the issue of interest rates. The group, Bayt-ul-Maal has commenced gathering...

Islamic wealth management and its relevance in modern times

30 May 2018 15:05 The objective of Islamic wealth management is economic justice through equitable distribution of wealth. This by no means restricts private ownership and entrepreneurship but a wider circulation of wealth and invested in socially beneficial econom...

Global #Sukuk issuances surges 44 per cent in Q1

30 May 2018 14:41 According to the latest statistics by RAM Ratings, a total of $12 billion worth of Sukuk was issued in March 2018, bringing global Sukuk issuance to $30 billion in Q1 2018, a 44.4% surge from $20.8 billion for the same period last year. The increa...

Dana Gas receives $40mn from #Egyptian government

30 May 2018 14:34 UAE based natural gas producer Dana Gas has now received almost $90mn so far this year from the North African nation. Source:  http://theiraqfile.com/dana-gas-receives-40mn-from-egyptian-government/ Facebook Like Google Plus One Tweet Widg...

#Saudi Arabia's #Sukuk selling crosses SAR 3.95 bn

30 May 2018 14:32 Saudi Arabia's finance ministry sold 3.95 billion riyals (USD1.05 billion) of domestic Sukuk in its monthly sale by re-opening an issue originally made last month. It sold 3.35 billion riyals of five-year Sukuk, 350 million riyals of seven-year an...

Call for promoting role of Islamic Waqf

30 May 2018 14:27 Qatar's Ministry of Awqaf and Islamic Affairs organized a forum on waqf where participants called for the advancement of the waqf to regain its role in the Islamic economy. Qatar has made great steps in the advancement of the waqf, starting with t...

Noor Financial sells $16 million stake in Meezan Bank

30 May 2018 14:08 Kuwait-based Noor Financial Investment Company (NFIC) has sold its stake in the Pakistani Meezan Bank Limited (MEBL), which is worth $16.014 million. A total of 2.49% of the total issued and paid up capital of the bank was sold and shares have bee...

Muslims demand Islamic banking

25 May 2018 11:07 The Muslim community of Uganda asked the Government to speed up the process of providing regulations for Islamic banking. According to Speaker of Parliament, Rebecca Kadaga, the laws for Islamic banking have been passed but Bank of Uganda is reluc...

#Uzbekistan set to develop Islamic banking system

25 May 2018 10:56 Uzbekistan is joining the rising number of Central Asian nations to develop a Shariah-compliant banking system given its large Muslim population. This month, the Uzbek government issued a draft resolution to create infrastructure for Islamic banki...

Muslims in #India develop mutual health #insurance scheme as alternative to #takaful

25 May 2018 10:45 A not-for-profit health assurance scheme, called Uplift Mutuals Biradaree, started in April this year in India. The scheme works on the model of mutual assurance, with certain features maintaining the values of Shariah-compliant finance. The healt...

Fitch issues rating for KFH #Sukuk

25 May 2018 10:34 Fitch Ratings has assigned Kuwait Finance House’s sukuk programme an expected A+ and F1 rating. KFH Sukuk, the issuer and trustee, is a special purpose vehicle (SPV), incorporated in the Dubai International Financial Centre (DIFC), solely to issue...

Men More Likely to Replace Charitable Giving With Impact Investing

25 May 2018 10:14 While both men and women embrace impact investing, a recent report found that men are more likely to replace charitable giving with impact investments. The report comes from the Women's Philanthropy Institute and is entitled How Women and Men Appr...

#UK Mosque Opens #Crypto #Donations in National First 'Bitcoin Ramadan'

25 May 2018 09:57 A UK mosque has broken with opinion and opted to accept cryptocurrency donations for this year’s Ramadan period. The Shacklewell Lane Mosque in East London partnered with local Blockchain startup Combo Innovation to set up a Bitcoin and Ethereum w...

Responding to demand, Islamic #microfinance start-up starts accepting cryptocurrencies for zakat

25 May 2018 09:50 Islamic microfinance start-up Blossom Finance has started accepting zakat payments in cryptocurrencies for zakat-eligible cryptocurrency assets in response to user demand. Blossom Finance has designated a wallet for zakat payments at a cryptocurre...

Dana Gas CEO talks about Sukuk Litigation to protect assets on Bloomberg TV

24 May 2018 15:32 Dana Gas CEO Patrick Allman-Ward discusses the company's Sukuk litigation and performance. Click on th source. Source:  https://www.bloomberg.com/news/videos/2018-05-24/dana-gas-ceo-says-sukuk... Facebook Like Google Plus One Tweet Widget...

Islamic finance feels heat from $700mn Dana saga

24 May 2018 11:26 Global standards are likely to become more explicit and a shift to centralised regulation may accelerate after Dana Gas reached a conditional deal with creditors on its contested $700mn sukuk issue. Dana shook the industry last June, saying it wou...

New Islamic banking service to be launched in Germany

24 May 2018 09:48 AlBaraka Türk launches basic online Islamic account services in Germany utilizing solarisBank as service provider and license holder. Source:  https://www.getinsha.com/en Facebook Like Google Plus One Tweet Widget Linkedin Share Button

Ali Allawala appointed CEO of #Malaysia’s Standard Chartered Bank Islamic unit

23 May 2018 14:04 Pakistani banker Ali Allawala has been appointed as the chief executive officer of the Islamic Unit of Standard Chartered Bank Malaysia. Ali Allawala possesses over 22 years of experience in retail banking, both within conventional and Islamic ban...

Deloitte launches new Islamic finance insights series

22 May 2018 16:55 Deloitte’s Islamic Finance Knowledge Center (IFKC) in collaboration with the Chartered Institute of Securities and Investment (CISI), UK published its latest whitepaper entitled "Scalable and sustainable source of funding social infrastructur...

First Islamic trade finance #workshop in #Uzbekistan

22 May 2018 12:00 The International Islamic Trade Finance Corporation (ITFC), the Ministry for Foreign Trade of Uzbekistan and the United Nations Development Program (UNDP) have come together for the first trade finance workshop titled "Trade Finance as a Key...

UK taxation needs to accommodate Shariah compliant #real estate refinancing

21 May 2018 15:42 For well over a decade, the UK has been amending its tax laws for Islamic finance. The goal is to ensure that Islamic finance transactions are not taxed more heavily, or more lightly, than their conventional finance equivalents. In a diminishing m...

Save the Date – Financial Inclusion Week 2018

18 May 2018 12:10 The fourth annual Financial Inclusion Week will take place between October 29 and November 2, 2018. This year’s theme is Getting Inclusion Right. In 2018, the Center for Financial Inclusion at Accion is celebrating its 10th anniversary and using t...

#Kuwait's Noor Financial to divest stake in #Pakistan's largest Islamic bank

17 May 2018 16:17 Noor Financial Investment Company will divest a portion of its 49% stake in Pakistan's Meezan Bank. The company is in preliminary discussions with foreign institutional investors for a proposed divestment of 9.59% of the total issued and paid up c...

First Islamic #crowdfunding platform for affordable homes to increase impact with backing of Expo 2020 Dubai

17 May 2018 16:12 The world’s first Islamic real estate crowdfunding platform Ethis Crowd will showcase the solution at Expo 2020 Dubai. Ethis Crowd enables individuals to collectively fund and invest in new residential developments for low-income households in Ind...

Ramadan Karim

17 May 2018 12:58 End of Ramandan I participate and fundraise at UNICEF Cycling for Children. Please donate online: https://www.unicef.ch/en/cycling-for-children/action/michael-gassner (1 CHF almost equal to 1 USD)If you plan to do a large donation, I would be gla...

MICROCAPITAL BRIEF: Blossom Finance Launches Shariah-compliant #Microfinance #Fund to Invest in BMT Microfinance Institutions in #Indonesia via PBMT...

16 May 2018 15:11 US-based Blossom Finance recently launched a fund that will lend local-currency on the Indonesian island of Java via Permodalan BMT (PBMT) Ventura. Baitul Maal wat Tamwil (BMTs) are financial institutions that follow Shariah law. They provide savi...

#Sukuk issuance: QIIB weighs market mood

16 May 2018 15:02 Qatar International Islamic Bank (QIIB) is waiting for the right time to issue its $500m sukuk in the international market. QIIB CEO Abdulbasit Ahmed Al Shaibei said that QIIB is currently weighing market conditions before the issuance of the 5-ye...

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