Islamic banking

DGAP-News: Round Table for the Financing of CEMAC Integration Projects - Paris, 16 & 17 November 2020

Friday, November 20, 2020 - 10:01am

Round Table for the Financing of CEMAC Integration Projects - Paris, 16 & 17 November 2020

Key Points: 
  • Round Table for the Financing of CEMAC Integration Projects - Paris, 16 & 17 November 2020
    The issuer is solely responsible for the content of this announcement.
  • Round Table for the Financing of CEMAC Integration Projects - Paris, 16 & 17 November 2020
    After two days spent in Paris meeting with representatives of the French Government, heads of community institutions, representatives of international institutions, donors and private investors, CEMAC (http://www.CEMAC.int/) can boast of significant economic success.
  • The IDB also made a presentation on Islamic finance (SUKUK) as an important mode of financing structuring and integrating projects.
  • To read the full version of the final press release: click here (https://bit.ly/3kMXIlk)
    For more information on the Round Table and CEMAC, visit the websites https://bit.ly/2ULfR8g and http://www.CEMAC.int/

AxeTrading expands exchange business with launch of IDX ETP

Monday, November 9, 2020 - 10:00am

LONDON, Nov. 9, 2020 /PRNewswire-PRWeb/ -- Today, the Indonesia Stock Exchange (IDX) launched their Electronic Trading Platform (ETP) for secondary market trading of bonds and sukuk using AxeTrading's AxeChange technology.

Key Points: 
  • LONDON, Nov. 9, 2020 /PRNewswire-PRWeb/ -- Today, the Indonesia Stock Exchange (IDX) launched their Electronic Trading Platform (ETP) for secondary market trading of bonds and sukuk using AxeTrading's AxeChange technology.
  • Indonesia is one of the largest EM bond markets in the region, valued at around USD 220 BN equivalent.
  • AxeTrading is the award winning global fixed income trading software company that enables unique market making, price making and order execution with AxeTrader.
  • AxeTrading was founded in 2009 and is headquartered in London with a technology innovation centre in Germany and offices in Sydney and Singapore.

AM Best Affirms Credit Ratings of Abu Dhabi National Takaful Company P.S.C.

Thursday, October 1, 2020 - 5:07pm

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Abu Dhabi National Takaful Company P.S.C.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Abu Dhabi National Takaful Company P.S.C.
  • AM Best considers the takaful regulations in the UAE to be sufficiently strong, given the protection it provides to policyholders.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Global Sukuk Markets, 2014-2019 & 2020-2025 - Islamic Banking Institutions are Seeking Strategic Partnerships with Foreign Institutions

Monday, September 21, 2020 - 5:30pm

A Sukuk is a financial certificate that is issued in Islamic countries for representing the share of ownership in a portfolio of existing or eligible assets.

Key Points: 
  • A Sukuk is a financial certificate that is issued in Islamic countries for representing the share of ownership in a portfolio of existing or eligible assets.
  • Islamic law prohibits the lending of money with interest payments, thereby forbidding the use of conventional bonds for financial transactions.
  • Also, various Islamic banking institutions are seeking strategic partnerships with foreign institutions to participate in trade with other countries.
  • Looking forward, the report expects the global sukuk market to continue its moderate growth during the next five years.

Global Sukuk Market Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025: Focus on Murabahah, Salam, Istisna, Ijarah, Musharakah, Mudarabah, & Hybrid Sukuk - ResearchAndMarkets.com

Tuesday, September 15, 2020 - 7:47am

The "Sukuk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Sukuk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
  • Islamic law prohibits the lending of money with interest payments, thereby forbidding the use of conventional bonds for financial transactions.
  • Looking forward, the report expects the global sukuk market to continue its moderate growth during the next five years.
  • Key Questions Answered in This Report:
    How has the global sukuk market performed so far and how will it perform in the coming years?

AM Best Affirms Credit Ratings of Bahrain Kuwait Insurance Company B.S.C. and Takaful International Company BSC

Thursday, August 27, 2020 - 6:23pm

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of Bahrain Kuwait Insurance Company B.S.C.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of Bahrain Kuwait Insurance Company B.S.C.
  • (gig-Bahrain) and its subsidiary, Takaful International Company BSC (gig-Bahrain Takaful), both of which are domiciled in Bahrain.
  • The ratings also factor in the financial strength of gig-Bahrains parent company, Gulf Insurance Group K.S.C.P., due to its strategic importance to the group.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .

Moody’s Acquires Stake in MARC, Strengthening Presence in Key ASEAN Market

Wednesday, August 12, 2020 - 12:00am

The investment strengthens Moodys presence in Southeast Asia and across domestic bond markets globally, and advances its position as a leader in Islamic finance.

Key Points: 
  • The investment strengthens Moodys presence in Southeast Asia and across domestic bond markets globally, and advances its position as a leader in Islamic finance.
  • Based in Kuala Lumpur, MARC covers corporates and financial institutions, with key strengths in infrastructure and project finance.
  • The investment strengthens Moodys presence in Malaysia, a key market within the Association of Southeast Asian Nations (ASEAN).
  • Malaysia has the regions largest domestic corporate bond market and has established itself as a global hub for Islamic finance, with the worlds largest sukuk market.

Q8 Trade Now Offers Islamic Accounts for the Convenience of all Arabic Traders

Thursday, July 16, 2020 - 2:00pm

LIMASSOL, Cyprus, July 16, 2020 /PRNewswire-PRWeb/ --Q8 Trade is proud to announce that Arabic Traders no longer need to worry about riba-based transactions thanks to Q8 Trade's new Islamic trading accounts, as now they can trade in the global financial markets with 100% interest-free positions.

Key Points: 
  • LIMASSOL, Cyprus, July 16, 2020 /PRNewswire-PRWeb/ --Q8 Trade is proud to announce that Arabic Traders no longer need to worry about riba-based transactions thanks to Q8 Trade's new Islamic trading accounts, as now they can trade in the global financial markets with 100% interest-free positions.
  • Unlike most of the other brokers, Q8 Trade stands out with a more permissive policy regarding Islamic accounts .
  • All traders working with Q8 Trade can now benefit from swap-free accounts and thus trade on a wide range of markets with lower costs.
  • Via reputable trading software, useful educational resources, and tools, it aims to enable broad access to global financial markets, including for Muslim traders, via Islamic accounts.

Country Garden Raises MYR495 Million Sukuk to Confirm Positive Outlooks

Wednesday, May 20, 2020 - 2:09am

JOHOR BAHRU, Malaysia, May 20, 2020 (GLOBE NEWSWIRE) -- In March 2020, Country Garden Real Estate (CGRE) successfully issued three tranches of Islamic Sukuk for a total of MYR495 million, with the longest tenure among them being seven years.

Key Points: 
  • JOHOR BAHRU, Malaysia, May 20, 2020 (GLOBE NEWSWIRE) -- In March 2020, Country Garden Real Estate (CGRE) successfully issued three tranches of Islamic Sukuk for a total of MYR495 million, with the longest tenure among them being seven years.
  • Sukuks are Islamic financial certificates (similar to a bond), that complies with Islamic religious law commonly known as Syariah.
  • Sukuks had become extremely popular since 2000 when the first Sukuk was issued by Malaysia.
  • CGREs IMTN Programme was set up in 2015, which was first ever Ringgit Sukuk issued by a China-related corporate entity.

World Finance Announces the Winners of the 2020 Islamic Finance Awards

Monday, April 6, 2020 - 9:30am

Sharia-compliant financial assets are forecast to reach $3.8trn by 2023, averaging annual growth of 10 percent, according to Thomson Reuters' 2018 Islamic Finance Development Report .

Key Points: 
  • Sharia-compliant financial assets are forecast to reach $3.8trn by 2023, averaging annual growth of 10 percent, according to Thomson Reuters' 2018 Islamic Finance Development Report .
  • In the latest edition of World Finance, the 2020 Islamic Finance Awards celebrate the success stories that have emerged out of this rapidly growing sector.
  • In its Islamic Finance Outlook 2019 Edition report , S&P Global Ratings said that regulations standardising Sharia interpretation and legal documentation could streamline sukuk issuance and help "unlock the full potential of Islamic finance".
  • To see which companies are leading the pack in the Islamic banking sector, check out the full list of this year's Islamic Finance Awards winners in the latest issue of World Finance, available in print, on tablet and online now.