The Bloomberg Malaysia Sukuk Ex-MYR Total Return (BMSXMTR) closed flat at 101.63 (week prior: +0.04%, 101.63) while the Dow Jones Sukuk Total Return Index (DJSUKTXR) rose marginally by 0.02% to 154.58 (week prior: -0.16% to 154.55). The weighted average yield of BMSXMTR widened 1.1bps to 2.36%. Worst performers are FGBUH 16, MALAYS 21-25, RAKS 25, ISDB 17 for 3rd week in a row, shedding USD19.38m ... »

International law firm Clifford Chance advised International Company for Water & Power Projects (ACWA Power) on two syndicated commodity murabaha-based transactions to add another SAR1.109 billion (US$295 million) to its revolving shari'a compliant working capital facilities. »

Sukuk supply is picking up after recent sovereign announcements by Jordan and Indonesia, as well as a slew of announcements from Malaysian and Turkish corporates and the AAA rated Supranational International Finance Corp, part of the World Bank. »

If you want Sharia-compliant finance to be ethical, then let´s hold ourselves true to our word and discuss substance in the industry. Qatar is well determined to finance most of its infrastructure for the World Cup the Islamic way, yet it is not prepared to abolish what has been called modern slavery, the “Kafala”- System, without Western pressure. What about child labour? Let us discuss Banglades... »

In an interview with the African Leadership Network, Lamin Manjang, CEO Standard Chartered Kenya stated the Kenyan government has previously stated it wishes to go down the route of a sovereign sukuk issuance, and that Standard Chartered Kenya is leveraging off the banks international experience in issuing sukuk to assist the Ministry of Finance. »

In just four decades, the Sharia compliant finance industry has grown from a niche banking system to be regarded as one of the fastest growing segments of the global financial industry, with total global financial assets estimated to be around USD2tln. The past five years have been most significant, recording 17.3% Compounded Annual Growth Rate spurred by improved industry infrastructure, a more c... »

Whilst the proposed Indonesian or Turkish banks will be hugely overshadowed by Gulf Islamic Banks in terms of assets and capital, they will have access to much bigger markets. Both Indonesia and Turkey being Muslim majority countries with combined populations of around 325 million offer greater growth prospects in engaging unbanked populations of their societies, as well as eating into the market ... »

IILM issued two sukuk, a three month $490 million issuance with a 3 month maturity was sold at a profit rate of 0.633%, and a longer six month issuance for $500 million was sold at a profit rate of 0.929%. The IILM is an international institution established by central banks, monetary agencies and multilateral organisations to introduce and facilitate effective cross-border Shari’ah-compliant liqu... »

Crescent Wealth, an Australian Islamic investment firm, announced it had exceeded $100 million in funds under management following a 245% growth in funds under management during the first half of this year. After launching the world's first Islamic Pension fund in 2013, the company has witnessed rapid growth with total member numbers growing close to ten-fold between FY14 and FY15. »

UK Trade & Investment today released a brochure which contains Sharia compliant UK regeneration investment opportunities in the UK. »