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Latest bulletin of the Islamic Organisation for Food Security for download

30 Dic 2020 17:51 Please download the bulleting from the link below.Excerpt:Director-General of IOFS H. E. Yerlan A. Baidaulet “As we all know that 2020 has been an unprecedented and challenging period that has affected all parts of the world especially the OIC reg...

The Islamic Development Bank and The International Islamic Trade Finance Corporation hold a webinar on AgriTech & Digital Supply Chain

20 Ott 2020 18:06 The International Islamic Trade Finance Corporation (ITFC) and the Islamic Development Bank (IsDB) jointly held a live webinar entitled "The Role of AgriTech in Food Security & Sustainability" to discuss sustainable climate-smart agr...

Bank Negara: Mismatch in green funding demand, supply decelerates sustainable projects

20 Ott 2020 17:59 Malaysia’s pledge to minimise its greenhouse gas emissions by 2030 is facing challenges in terms of a mismatch in demand and supply of fundings. Bank Negara Malaysia (BNM) assistant governor Fraziali Ismail said that considerable funding gaps rema...

Abu Dhabi Islamic Bank launches #UAE's first virtual banking sales platform

19 Ott 2020 12:08 Abu Dhabi Islamic Bank (ADIB) has launched a remote sales platform allowing customers to converse with the bank and apply for personal finance, covered cards, takaful, and other banking products without having to leave their homes. A first of its...

#Indonesia gains heft in Islamic banking with 3-way merger

19 Ott 2020 12:04 The Indonesian government announced that it would merge the syariah units of three state-owned lenders to create the country’s seventh-largest bank. Pending approval by regulators, the syariah units of Bank Rakyat Indonesia, Bank Mandiri and Bank...

“Abu Dhabi Islamic” launches a platform for banking – economic –...

19 Ott 2020 11:51 Abu Dhabi Islamic Bank launched a sales platform that allows customers to communicate remotely with the bank and apply for personal finance products, covered cards, takaful products and other banking solutions without having to leave their homes....

Featuring Over 2,000 Participants from 90 Countries, Seventh Annual G20 Interfaith Forum Concludes with Strong Focus on COVID, Inequalities and Clim...

19 Ott 2020 11:48 The seventh annual G20 Interfaith Forum concluded its meetings on Saturday after five days of sessions that addressed the COVID-19 emergencies, climate change, social, racial, and economic disparities, environmental challenges, the preservation an...

Shariah Compliance Expert Says Cryptocurrencies Are Legit Commodities

19 Ott 2020 11:43 Cryptocurrency adoption and investments remain low in Muslim countries as people are still unsure of its compliance with Islamic law. At the SCxSC Fintech Conference 2020 last week, shariah expert Datuk Dr. Mohd Daud Bakar said that investors need...

Launch of #UK’s first Islamic Finance undergraduate degree

19 Ott 2020 11:36 A university has announced the launch of the first Accounting and Islamic Finance undergraduate course in the UK. The BSc (Hons) Accounting and Islamic Finance degree at Birmingham City University will see students study Islamic economics, whilst...

Islamic banks “vital in accelerating #UK fintech transformation” according to expert

16 Ott 2020 13:25 Al Rayan Bank, the UK’s oldest and largest Islamic bank, has announced that more than 20,000 of its customers are now using its digital banking services for their day-to-day banking. According to Dr Samir Alamad, Sharia compliance expert at Al Ray...

#UAE's Dana Gas raises loan, avoids another restructuring

16 Ott 2020 13:16 United Arab Emirates energy firm Dana Gas has raised a $90 million loan allowing it to redeem $309 million in bonds due at the end of October and avoid a third debt restructuring. The company has obtained a one-year $90 million loan from Mashreq B...

Saeed M. Al-Ghamdi, CEO and MD of the newly formed bank following the merger of NCB and Samba

16 Ott 2020 13:08 Saeed M. Al-Ghamdi is managing director and CEO of the new bank that resulted from the merger between the National Commercial Bank (NCB) and the Samba Financial Group. Before that, he was chairman of the NCB, building up more than 31 years of expe...

Ethiopie : ZamZam Bank devient la première banque islamique du pays

16 Ott 2020 13:03 En Ethiopie, ZamZam Bank exercera désormais l’activité de banque islamique après avoir obtenu la licence à cet effet auprès du régulateur du secteur. L’institution est la première du pays qui proposera exclusivement des services financiers conform...

#Indonesia's state banks seek to spark sharia sector via mergers

16 Ott 2020 12:58 Indonesia's three state-owned banks will merge their sharia banking units to create one of the country's biggest lenders. Bank Rakyat Indonesia, Bank Mandiri and Bank Negara Indonesia have signed a conditional merger agreement for their Islamic ba...

First Abu Dhabi Bank denies merger talks with Abu Dhabi Islamic Bank

16 Ott 2020 12:51 First Abu Dhabi Bank (FAB) said it was not in merger talks with Abu Dhabi Islamic Bank. Citing unnamed sources, Bloomberg reported in April 2019 that Abu Dhabi was considering merging the two lenders to create the Gulf region's largest lender. The...

L’arrivée de la première Banque Islamique d’Australie retardée, mais confirmée très bientôt

16 Ott 2020 12:48 Alors qu’elle avait trouvé son point d’ancrage sous le ciel ensoleillé de l’Australie, la finance éthique par excellence s’est heurtée à un écueil majeur, difficilement contournable. Si elle n’a pas encore largué les amarres sur l’îlot lointain du...

ZamZam Bank becomes #Ethiopia’s first Islamic bank

16 Ott 2020 12:43 ZamZam Bank has obtained a license from Ethiopia’s banking regulator to carry out Islamic banking activities in the country. In May 2019, Abiy Ahmed, the Ethiopian Prime Minister, expressed his approval in favor of the establishment of financial i...

The Islamic Development Bank lends Pakistan $ 386 million to purchase...

13 Ott 2020 15:37 The State of Pakistan and the International Trade Finance Corporation of the Islamic Development Bank signed a financing agreement amounting to $ 386 million, to be used in importing oil and liquefied gas. The Pakistani side emphasized the import...

#Pakistan unlikely to avail $4.5bn Islamic Trade Finance Corporation facility

13 Ott 2020 15:33 Pakistan is unlikely to fully benefit from $4.5bn financing package it secured about two and years ago from International Islamic Trade Finance Corporation (ITFC). Pakistan and the ITFC on Monday signed about $400 million worth of two facilities t...

#Qatar- HBKU webinar discusses Zakat financing for achieving SDGs

13 Ott 2020 15:26 Hamad Bin Khalifa University (HBKU) co-organised a three-part webinar series with the United Nations Development Programme (UNDP), in partnership with Qatar Financial Centre (QFC) Authority. The first instalment of the HBKU-UNDP Webinar Series: Is...

Fintech Is viable vehicle for deepening Islamic finance in Nigeria: Jidda

12 Ott 2020 11:54 According to Muhammad Jidda, Head Shari’ah Audit and Product Development, SunTrust Bank Nigeria, Fintech is a viable platform that can be leveraged to boost Islamic Finance in Nigeria. According to him, the pathway is harnessing the various sphere...

ICD completes pricing for a 5-year USD 600 million #sukuk issuance

12 Ott 2020 11:45 The Islamic Corporation for the Development of the Private Sector (ICD) announced successful completion of the pricing of a five-year USD 600 million Sukuk issuance at MS + 140bps. This is the largest Sukuk issuance by ICD since inception and doub...

Al Meezan launches #Pakistan’s first Islamic ETF

12 Ott 2020 11:38 Al Meezan Investments launched the country’s first Islamic ETF named Meezan Pakistan Exchange Traded Fund (MP-ETF). The ETF will trade at the stock exchange under the ticker ‘MZNP-ETF’. MZNP-ETF is an SECP-approved product which consists of a bask...

UN World Food Programme wins Nobel Peace Prize 2020

12 Ott 2020 11:31 The United Nations food agency, the World Food Programme (WFP), won the Nobel Peace Prize for its efforts to combat hunger and improve conditions for peace in conflict-affected areas. The Rome-based organisation says it helps some 97 million peopl...

Shuaa Capital launches new shariah funds

12 Ott 2020 11:29 Dubai-based asset manager Shuaa Capital has launched three new sharia-compliant funds on the Abu Dhabi Global Market (ADGM). The open-ended funds – Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund – are backed by US$75...

#Sukuk to raise RM800mil for cocoa grinder

07 Ott 2020 17:02 The world’s fourth largest cocoa grinder Guan Chong (GCB) is undertaking a sukuk exercise for its future expansion plans. It is launching a sukuk wakalah programme of up to RM800mil in nominal value. According to managing diector Brandon Tay Hoe L...

Financial Inclusion Rate in #Indonesia Reaches Record Highs, but Over 2,500 Illegal Fintech Businesses have been Shut Down

07 Ott 2020 16:55 The role of Fintech platforms and services in supporting public services in Indonesia has become more prominent and relevant due to the global COVID-19 outbreak. Fintech service providers are now offering more digital payments options which allow...

HE Essa Kazim: Sukuk Sector Underlines Resilient Economic Performance Of UAE And Dubai - Emirates Islamic Chairman Rings Market-Opening Bell To Cele...

07 Ott 2020 16:47 Hesham Abdulla Al Qassim, Chairman of Emirates Islamic rang the market-opening bell to celebrate the listing by Emirates Islamic of a 500 million US dollar Sukuk on Nasdaq Dubai. The Bank achieved a profit rate of 1.827%, the lowest for a Sukuk is...

Islamic Corporation for the Development of the Private Sector hires banks to arrange US dollar #sukuk

07 Ott 2020 16:38 The Islamic Corporation for the Development of the Private Sector (ICD) has hired banks to arrange a five-year US dollar denominated sukuk. It has mandated Goldman Sachs International, HSBC and Standard Chartered as the global coordinators. They w...

Tezos Blockchain granted Shariah certificate

07 Ott 2020 16:36 Tezos Gulf received a Sharia Certificate from Shariyah Review Bureau (SRB). Tezos’ platform is backed by a global community of validators, researchers, and builders and is considered one of the first pure proof-of-stake blockchains. The Tezos bloc...

Nor Shamsiah Mohd Yunus: Launch of the World Bank Sustainable and Inclusive Finance Forum

07 Ott 2020 16:30 The pandemic has brought the global economy to its knees and the lives we once knew as 'normal' have been turned on their head. At the same time, displacement and disruptions due to climate-related events such as storms, flooding and droughts have...

#Kuwait central bank gives nod to Shariah committee for Islamic finance

07 Ott 2020 16:25 The central bank of Kuwait’s board of directors has approved the establishment of the Higher Committee of Shariah Supervision for Islamic finance. The Committee’s key roles are to: give its opinions and advice to the central bank on Shariah compli...

IdealRatings and FTSE Russell launch the FTSE IdealRatings #Sukuk Index

07 Ott 2020 16:21 IdealRatings Inc. launched the FTSE IdealRatings Sukuk Index incorporating IdealRatings’ Sukuk Shariah compliance screening methodology into the existing FTSE Sukuk Index methodology. The FTSE IdealRatings Sukuk Index tracks the performance of US...

GCC Islamic asset managers stay resilient

05 Ott 2020 11:52 According to Moody's Investors Service, net inflows into some large Islamic funds in the GCC countries have remained positive despite weaker markets and lower oil prices. The ratings agency said it expects growth in Islamic assets under management...

Arab #Philanthropic Support To Digitalization: Is COVID-19 A Turning Point?

30 Set 2020 16:57 COVID-19 has disrupted the status quo in a number of ways. Firstly, Arab philanthropy has stepped up support to digital solutions in online learning, healthcare and mental well-being and income generation. Educate–Me, a social enterprise and inves...

Five members ousted from UN-backed responsible investment list

30 Set 2020 16:46 Five investors have been removed from the United Nations-backed Principles for Responsible Investment (PRI), in the first such move by the group for those failing to meet its minimum requirements. The delistings follow criticism in recent years th...

Saudi Arabia fortifies position as largest Islamic finance market

30 Set 2020 16:35 Moody's expects Islamic financing in Saudi Arabia to reach around 80% of system-wide loans in the next 12-18 months, up from 78% of loans in 2019 and 70% in 2013. Moody’s noted that corporates and households are increasingly using Islamic products...

Sukuk to 'widely contribute to development activities'

30 Set 2020 16:32 The government of Bangladesh is going to introduce Sukuk in the country, said Prof. Shibli Rubayat Ul Islalm, chairman of Bangladesh Securities and Exchange Commission. He believes that sukuk, once introduced, will widely contribute to various dev...

Masumi Hamahira: How the Bitcoin #blockchain will benefit Islamic Finance world

29 Set 2020 16:25 Bitcoin’s blockchain is an open network protocol that can replace today’s internet, and offers benefits specific to the Islamic Finance industry. Bitcoin Association ambassador for Malaysia Masumi Hamahira said Bitcoin’s blockchain offered every b...

#Sukuk issuances jumped to $ 162 billion

28 Set 2020 15:57 The global sukuk market witnessed record issuances in 2019, recording $ 162 billion, an increase of 31% over 2018. Participants of the fourth session of the virtual webinar series of the World Islamic Economic Summit discussed the Global Islamic E...

$ 73.5 billion in Sukuk on “Nasdaq Dubai”

28 Set 2020 15:51 The value of new sukuk listings on Nasdaq Dubai since the beginning of 2020 until mid-September reached $ 11.4 billion, an increase of 55% over the value of sukuk listed in the same period last year. The total value of the sukuk listed in Dubai (b...

Dubai Islamic Economy Development Centre hosts #webinar on Sukuk market

28 Set 2020 15:16 The Dubai Islamic Economy Development Centre (DIEDC), in collaboration with the Dubai Chamber of Commerce and Industry and Refinitiv hosted the fourth session of the GIES Virtual Series webinar that examined the opportunities and challenges in the...

First actively managed sharia-compliant ETF to list in London

28 Set 2020 15:11 The world’s first actively managed sharia-compliant exchange traded fund will start trading In London. The Almalia Sanlam Active Sharia Global Equity ETF is the result of a partnership between Almalia, a London-based Islamic finance specialist and...

QIIB becomes first Islamic bank in #Qatar to launch card for domestic work

28 Set 2020 15:06 QIIB has launched a card for domestic workers, which provides flexible and easy solutions for both workers and employers, and complies with the standards required and set by various government agencies. The employer can transfer the salary of the...

There is a future in fintech for SMEs

25 Set 2020 12:04 Malaysia has over one million SMEs (small and medium enterprises) making up 98% of total businesses. The majority are micro SMEs, of which 21% are owned by women. One industry in which Malaysian SMEs could become a world pioneer is Islamic fintech...

Fintech Lenders in #Indonesia to Support Government with Disbursing Loans to SMEs as Part of COVID Relief Effort

25 Set 2020 11:59 Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI), which is an association of 156 Fintech lenders, is reportedly planning to work cooperatively with the Indonesian government to distribute funds that are meant to offset the economic problems and...

Big Four firms release ESG reporting metrics with World Economic Forum

25 Set 2020 11:52 The Big Four accounting firms have developed a set of metrics for companies to use for environmental, social and governance reporting internationally. The ESG metrics are organized around four pillars of principles of governance, planet, people an...

Saudi-based Islamic investment firm acquires West Michigan properties in joint venture

25 Set 2020 11:43 The American Brennan Investment Group established a joint venture equity partnership with Saudi Arabia-based investment firm Arbah Capital to acquire 557,000 square feet of light industrial and flex space in Michigan, Minnesota, Illinois and Iowa....

Alizz Islamic Bank completes merger process with Al Yusr Islamic Banking

25 Set 2020 11:36 Alizz Islamic Bank has completed all processes related to the integration of Al Yusr Islamic Banking. This includes the integration and transferring of customers, services, employees, assets, and liabilities from the Al Yusr Islamic Banking window...

Islamic finance to show low to mid single-digit growth in 2020-2021: S&P

24 Set 2020 10:48 According to S&P Global Ratings, the global Islamic finance industry will show low-to-mid single-digit growth in 2020-2021 after 11.4% in 2019. The COVID-19 pandemic will halt growth at GCC Islamic and conventional banks in 2020 as they focus...

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