A Company Executive of Deutsche Bank has stated plans to unveil a ‘major’ Sukuk issuance in Saudi Arabia via an Islamic bond, by the end of the first quarter of 2020 (1Q 2020). This launch is a part of Deutsche Bank’s wider push into the Saudi Arabian market, the Company Executive announced.  Head of Structuring, Middle East and North Africa, Deutsche Bank, Hussein A. Hassan noted that the Sukuk would be greater than the benchmark size of USD 500 million. Hassan stated that although the beginning half of 2021 has not been encoura...

Tunisia is planning to issue its inaugural Sukuk by July 2021, according to media reports. Ali Kooli, Finance Minister of Tunisia, stated in a recent interview that the Islamic financing facility will mobilise up to TND 300 million (USD 111 million).  The Sukuk issuance is part of Tunisia’s financing strategy for its 2021 budget, which aims to offer financing alternatives to the country. Media reported that Tunisia’s economy was under crisis, marked by a high level of debt amounting to 90% of gross domestic product.  Tunisia has atte...

The Potential of Islamic Microfinance in Uplifting B20 Communities in Malaysia: A Review of LiteratureAmanah, Islam, Islamic banking, Murabahah, Musharakah, Riba, Shariah, Sukuk, Zakat, Mark-Up, Musharakah Mutanaqisah

The Innovations of Hibahasan Instrument of Islamic Finance and Islamic Estate Management in MalaysiaAmanah, Fiqh, Fuqaha, Hadith, Hibah, Islam, Islamic banking, Sadaqah, Shariah, Shariah compliant, Takaful, Wakalah, Waqf, Wasiyyah

Integrated Cash Waqf Micro-enterprise Support Model for Enhancing Refugee LivelihoodMurabahah, Musharakah, Sukuk, Takaful, Waqf, Zakat

Does bitcoin co-move and share risk with Sukuk and world and regional Islamic stock markets? Evidence using a time-frequency approachSukuk

Malaysia-headquartered Principal Asset Management (Principal Asset; formerly known as CIMB-Principal Asset Management), a joint venture between Principal Financial Group and CIMB Group Holdings, has launched the Principal Islamic Asia Pacific Dynamic Income and Growth Fund (Islamic Fund), to provide quarterly income opportunities in the Asia-Pacific ex-Japan region.  According to a statement dated 4th of February 2021, Munirah Khairuddin, Chief Executive Officer of Principal Asset, noted that the Islamic Fund will provide investors with...

RAM Ratings (RAM) has assigned a AAA/Stable rating to Sarawak-state-owned Petroleum Sarawak’s (PETROS or the Group) proposed Multi-Currency Islamic Medium-Term Notes (Sukuk) of up to MYR 15 billion (2021/2051), to be issued by wholly-owned subsidiary Petroleum Sarawak Exploration & Production (PSEP). In addition, the ratings agency has assigned corporate credit ratings (CCR) of AAA/Stable/P1 to the Group.  PETROS has been assigned to plan and develop the oil and gas (O&G sector) in Sarawak State. According to RAM, PETROS’s rating of its proposed S...

Al Rabie Saudi Foods (Al Rabie), a subsidiary of Saudi Arabia-based investment company Aseer Trading, Tourism and Manufacturing Company (Aseer Company), has signed a Shariah-compliant financing agreement valued at SAR 342 million with Samba Financial Group, according to a Tadawul statement, filed on the 2nd of February, 2021.   The credit facilities of the Shariah-compliant financing comprise of a long-term loan worth SAR 150 million with a five-year financing duration including a six-month grace period, and a one-year SAR 192 million loan to finance working cap...

The Central Bank of the Republic of Turkey (CBRT) has decided to establish a Participation Banking Division under the Banking and Financial Institutions Department at its Head Office, according to a statement released on the 3rd of February 2021.  The statement revealed that the Participation Banking Division will be established to increase the efficiency of CBRT’s relations and work with participation banks. The Division will help contribute to the participation banking sector’s development and financial stability, and will also assist wit...