Islamic banking

Fair Launches First-Ever Halal-Certified Neobank and Wealth Building Platform in U.S.

Retrieved on: 
Wednesday, June 30, 2021
Accounting and Auditing Organization for Islamic Financial Institutions, Halal, Finance, Neobank, Money, Financial services, Islamic banking, Manzil

HOUSTON, June 30, 2021 /PRNewswire/ -- Fair , the first-ever halal-certified neobank and wealth building digital platform in the U.S., launches mobile banking services with lending, investments and retirement and multilingual service to rollout soon.

Key Points: 
  • HOUSTON, June 30, 2021 /PRNewswire/ -- Fair , the first-ever halal-certified neobank and wealth building digital platform in the U.S., launches mobile banking services with lending, investments and retirement and multilingual service to rollout soon.
  • Fair memberspay a transparent cost, either $99 for a lifetime membership or $9.99 for a monthly membership.
  • With business values that promise to always put people over profit, Fair membership includes unlimited access to every platform feature.
  • Fair is the first halal-certified neobank in the U.S., certified by the Accounting and Auditing Organization for Islamic FinancialInstitutions (AAOIFI).

AM Best Affirms Credit Ratings of Orient Insurance PJSC and Orient Takaful Insurance Company (S.A.E.); Assigns Credit Ratings to Orient UNB Takaful PJSC

Retrieved on: 
Tuesday, June 15, 2021
Professional services, Insurance, Finance, Credit rating agencies, Islamic banking, Takaful, AM Best, Finance, Financial services, Economy

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a+ (Excellent) of Orient Insurance PJSC (Orient) (United Arab Emirates), and Orient Takaful Insurance Company (S.A.E.)

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a+ (Excellent) of Orient Insurance PJSC (Orient) (United Arab Emirates), and Orient Takaful Insurance Company (S.A.E.)
  • Concurrently, AM Best has assigned an FSR of A (Excellent) and a Long-Term ICR of a+ (Excellent) to Orient UNB Takaful PJSC (United Arab Emirates), a subsidiary of Orient.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Insights on the Takaful Global Market to 2026 - by Product Type and Region - ResearchAndMarkets.com

Retrieved on: 
Tuesday, June 1, 2021
Professional services, Insurance, Religion, Consumer, Islamic banking, Takaful, Financial services, Etiqa, Finance, Service industries

The "Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
  • Looking forward, the global takaful market is expected to grow at a CAGR of around 11% during the forecast period (2021-2026).
  • Takaful is rapidly gaining momentum, particularly in the Asia Pacific and the GCC region, owing to a large Muslim population.
  • Some of the leading players operating in the global takaful market include:

Pure Harvest Smart Farms Secures US$60 Million in Growth Funding to Support Regional Expansion

Retrieved on: 
Monday, March 15, 2021
Banking, Supply chain management, Professional services, Other Natural Resources, Data management, Technology, Agriculture, Food, Beverage, Natural Resources, Retail, Finance, Other Technology, SHUAA Capital, Islamic banking, Sukuk, Sustainability, Articles, Economy

Pure Harvest Smart Farms, a world-leading, sustainable technology-enabled agribusiness, today announced that it has secured US$50 million in growth funding through an Islamic structured finance solution, led by SHUAA Capital psc[DFM: SHUAA].

Key Points: 
  • Pure Harvest Smart Farms, a world-leading, sustainable technology-enabled agribusiness, today announced that it has secured US$50 million in growth funding through an Islamic structured finance solution, led by SHUAA Capital psc[DFM: SHUAA].
  • The sukuk comes on the heels of a successful second growth equity raise of US$10 million, led by Sancta Capital in January 2021.
  • Sky Kurtz, Founder and CEO at Pure Harvest Smart Farms, said: We are thrilled to have secured this innovative structured financing solution that supports our aggressive growth campaign within the GCC region.
  • We are delighted that SHUAA has been able to deliver this innovative and highly complex structured financing solution for Pure Harvest Smart Farms in another regional first.

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

Retrieved on: 
Friday, November 20, 2020
Money, Finance, Economy, Islamic banking, Sukuk, Islamic banking and finance

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

Retrieved on: 
Monday, November 9, 2020
Islamic banking, Sukuk, Bond, ETP, Electronic trading platform

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.

Retrieved on: 
Thursday, October 1, 2020
Insurance, Professional services, Finance, Money, Credit rating agencies, Economy, Islamic banking, Takaful, National Takaful Company, AM Best, Credit rating

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

Retrieved on: 
Monday, September 21, 2020
Islamic banking, Money, Finance, Economy, Sukuk, Credit, Islamic banking and finance, Bank, Islamic finance products, services and contracts, Challenges in Islamic finance

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

Retrieved on: 
Tuesday, September 15, 2020
Professional services, Finance, Islamic banking, Sukuk, Economy, Islamic banking and finance, Emas bond

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

Retrieved on: 
Thursday, August 27, 2020
Banking, Professional services, Insurance, Finance, Islamic banking, Takaful, Financial services, Finance, Service industries

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 .