The Malaysian Central Bank successfully auctioned MYR1.5 Billion of Murabahah based Investments achieving 175 orders totalling MYR 3.66 Billion. A profit rate of 4.786% was achieved for the 20 years tenor issuance which matures in 2035. »

Addressing the opening ceremony, the IDB Group President, Dr. Ahmad Mohamed Ali extended appreciation to the Turkish Presidency for having included on G20’s agenda the development of SMEs via Islamic finance. He further highlighted the significance being placed by policy makers across the globe on the pivotal role of SMEs through Islamic finance in enhancing economic growth and alleviating poverty... »

Despite the lowering commodity prices, tightening global financial conditions and possible higher interest rates, OIC Member States will maintain economic growth next two years. Thus, it is expected that OIC Member States average economic growth rate will accelerate in 2016 and 2017 with 5.1 and 5.8 percent, respectively. »

Some principles of Islamic finance stem from prior Abrahamic traditions, whilst some historical Islamic finance instruments have been adopted into modern conventional products such as letters of credit and cheques. »

The Lord Mayor of the City of London, Alderman Alan Yarrow during a trip to Nigeria urged the country to consider all sources of finance as a means for attracting investment funds. In particular the Lord Mayor was keen to highlight the City of London role as a leading centre for Islamic finance and stated Islamic finance can provide substantial investment for Nigeria. He added Islamic financing wa... »

The increased participation of non-Muslim jurisdictions also reflects the positive acceptance of Islamic finance among the global community. Sukuk has drawn strong interests as an attractive source of funding and a new asset class. »

Islamic bond issuance in Malaysia over the last three months marked its slowest quarter since 2010. Bloomberg TV Malaysia's Sophie Kamaruddin and Han Tan look at the factors that could mark a turnaround by year-end in the world's largest sukuk market. »

In contrast to the current challenges of the conventional debt market, Pakistan was able to achieve a better reception for its Sukuk issued in November 2014. The 5 years issuance for $1bn was upped from an initial target of $500 million. The sukuk was five times oversubscribed with offers of 2.3 billion. »

The Islamic Development Bank (IsDB) and the United Nations Development Programme (UNDP) will host a side event at the UN Sustainable Development Goals Summit on "The role of Islamic finance in implementing the Sustainable Development Goals (SDGs)". »

In what can be marked as one of the most volatile months, GCC equity markets reversed their direction and declined heavily in August. Saudi Arabia, Dubai, Oman, Abu Dhabi, Kuwait and Qatar all fell with negative returns of -17.32%, -11.60%, -10.47%, -7.04%, -6.93% and -1.88%, respectively. »