Islamic banking

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

Retrieved on: 
Wednesday, August 12, 2020
Software, Finance, Banking, Data management, Professional services, Technology, Education, Training, Finance, Economy, Money, Islamic banking, Sukuk, Kuala Lumpur, Islamic banking and finance, ASEAN, Malaysia, Moody's Corporation, Malaysia International Islamic Financial Centre, BIX Malaysia

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

Retrieved on: 
Thursday, July 16, 2020
Economy, Money, Finance, Interest, Islamic banking, Riba, Trade, Marketplace, Q8, Financial markets, Credit

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

Retrieved on: 
Wednesday, May 20, 2020
Islamic banking, Sukuk, Countries, International organizations, Economy, Emas bond, Malaysia International Islamic Financial Centre

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

Retrieved on: 
Monday, April 6, 2020
Economy, Finance, Islamic banking, Sukuk, Credit, Islamic economic jurisprudence, Islamic banking and finance, Dubai Islamic Economy Development Centre, Islamic finance products, services and contracts

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.

World Finance Announces the Winners of the 2020 Islamic Finance Awards

Retrieved on: 
Monday, April 6, 2020
Economy, Finance, Islamic banking, Sukuk, Credit, Islamic economic jurisprudence, Islamic banking and finance, Dubai Islamic Economy Development Centre, Islamic finance products, services and contracts

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.

AM Best Assigns Credit Ratings to Takaful International Company BSC

Retrieved on: 
Monday, February 3, 2020
Insurance, Professional services, Credit rating agencies, Finance, Islamic banking, Takaful, AM Best, Economy, Financial services

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- to Takaful International Company BSC (gig-Bahrain Takaful) (Bahrain), the ultimate parent of which is Gulf Insurance Group K.S.C.P.

Key Points: 
  • AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- to Takaful International Company BSC (gig-Bahrain Takaful) (Bahrain), the ultimate parent of which is Gulf Insurance Group K.S.C.P.
  • Gig-Bahrain Takaful is a member of GIGs non-lead rating unit, Bahrain Kuwait Insurance Company B.S.C.
  • 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 .

International Islamic Trade Finance Corporation (ITFC) Partners Forum Highlights Immense Strength of Islamic Finance Globally

Retrieved on: 
Monday, December 9, 2019
International Islamic Trade Finance Corporation, Islamic banking, United Nations General Assembly observers, Banking, Financial services, Islamic Development Bank, ITFC, Jeddah, Western Asia, Bisri Dam

JEDDAH, Saudi Arabia, Dec. 9, 2019 /PRNewswire/ -- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), successfully concluded its Partners Forum 2019: Investing for Impact, which was held on the 5th December in Jeddah, Kingdom of Saudi Arabia.

Key Points: 
  • JEDDAH, Saudi Arabia, Dec. 9, 2019 /PRNewswire/ -- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), successfully concluded its Partners Forum 2019: Investing for Impact, which was held on the 5th December in Jeddah, Kingdom of Saudi Arabia.
  • Hani Salem Sonbolsteered far reaching discussions with key partners who assist ITFC in achieving its mission as the preferred provider of trade solutions across the Islamic world.
  • ITFC was joined by a host of local, regional and international finance institutions alongside official delegates from Pakistan and other member countries.
  • The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group.

International Islamic Trade Finance Corporation (ITFC) Partners Forum Highlights Immense Strength of Islamic Finance Globally

Retrieved on: 
Monday, December 9, 2019
International Islamic Trade Finance Corporation, Islamic banking, United Nations General Assembly observers, Banking, Financial services, Islamic Development Bank, ITFC, Jeddah, Western Asia, Bisri Dam

JEDDAH, Saudi Arabia, Dec. 9, 2019 /PRNewswire/ -- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), successfully concluded its Partners Forum 2019: Investing for Impact, which was held on the 5th December in Jeddah, Kingdom of Saudi Arabia.

Key Points: 
  • JEDDAH, Saudi Arabia, Dec. 9, 2019 /PRNewswire/ -- The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), successfully concluded its Partners Forum 2019: Investing for Impact, which was held on the 5th December in Jeddah, Kingdom of Saudi Arabia.
  • Hani Salem Sonbolsteered far reaching discussions with key partners who assist ITFC in achieving its mission as the preferred provider of trade solutions across the Islamic world.
  • ITFC was joined by a host of local, regional and international finance institutions alongside official delegates from Pakistan and other member countries.
  • The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group.

Sukuk-Focused Amana Participation Fund Attracts $100 Million in Assets

Retrieved on: 
Monday, November 25, 2019
Finance, Economy, Islamic banking, Sukuk, Money, Institutional investors, Mutual fund, Saturna, Amana Mutual Funds Trust

BELLINGHAM, Wash., Nov. 25, 2019 /PRNewswire-PRWeb/ -- Saturna Capital Corporation (Saturna), adviser to the Amana Mutual Funds , announced that the Amana Participation Fund (AMAPX, AMIPX) , which invests primarily in income-producing securities called sukuk, has surpassed a milestone $100 million in assets.

Key Points: 
  • BELLINGHAM, Wash., Nov. 25, 2019 /PRNewswire-PRWeb/ -- Saturna Capital Corporation (Saturna), adviser to the Amana Mutual Funds , announced that the Amana Participation Fund (AMAPX, AMIPX) , which invests primarily in income-producing securities called sukuk, has surpassed a milestone $100 million in assets.
  • The Participation Fund is the first mutual fund for US investors with a portfolio focusing exclusively on sukuk and Sharia compliant investment certificates.
  • "We view this as an important milestone in the success of the Participation Fund as well as Saturna Capital.
  • The risks of foreign investing are generally magnified in the smaller and more volatile securities markets of the Participation Fund.

Arabian Centres Successfully Completes a Refinancing of USD 1.9 Billion Including a 4 Times Oversubscribed USD 500 Million Sukuk

Retrieved on: 
Thursday, November 21, 2019
Retail, Destinations, Travel, Other Retail, Islamic banking, Sukuk

The fixed-rate, US dollar-denominated Sukuk, with a tenor of 5 years, carries a coupon rate of 5.375%.

Key Points: 
  • The fixed-rate, US dollar-denominated Sukuk, with a tenor of 5 years, carries a coupon rate of 5.375%.
  • The strength and depth of the book demonstrated global investors strong appetite for Saudi exposure and Arabian Centres lifestyle offering.
  • As of 30 September 2019, Arabian Centres operates a portfolio of 21 assets strategically located in 10 major Saudi cities.
  • For more information about Arabian Centres Company, please visit www.arabiancentres.com
    Please click on link for full statement.