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)". »
The Islamic financial market would benefit from Iranian sanction lifting. In this CMTV, Standard & Poor discuss the impact of agreement between the P5+1 countries and Iran on its economy and the Sharia compliant finance industry. »
The decision to tap the conventional market over sukuk is somewhat surprising given that Pakistan previously tapped the sukuk market in November 2014 with a $1 billion 5 year issuance, a transaction which was five times oversubscribed with offers of $2.3 billion against initial size of $500M which was upped to $1 billion. Such demand allowed the Government of Pakistan to close the transaction offe... »
Profit from Nigeria’s World Class Sharia Listed Companies Nigeria is Africa’s biggest economy and second only to Saudi Arabia in terms of Organisation of Islamic Cooperation (OIC) members GDP ranking. It currently presents an interesting investment case for the Islamic investor. »
Angela Martins of the National Bank of Abu Dhabi delivered a lecture to the Arab Brazilian Chamber of Commerce for its members in São Paulo, titled “The Islamic financial market”. The use of Islamic financial instruments such as Murabaha were discussed as means for Brazilian exporters to offer Sharia compliant transactions to Muslim customers. »
The decision by DBS Bank of Singapore to wind down its Islamic banking unit and integrate the specialist skills of its Islamic finance bankers into its main operations signals new levels of maturity for the Islamic finance industry. Islamic finance sits stronger as part of the total, not a sum of the parts and the move by DBS reflects tighter integration of Sharia compliant financial services, whi... »
The Islamic Investment Infrastructure Bank (IIIB), a unit of the Jeddah based Islamic Development Bank will act to raise funds by means of sukuk issuances to fund infrastructure projects. The bank is expected to be incorporated in 2016. “Having IIIB in Indonesia will help build infrastructure, bring in capital and boost Islamic banking assets,” Achmad Kusna Permana, secretary-general at the Indone... »
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... »
