A Survival Analysis of Islamic and Conventional BanksIslamic banking, Murabahah, Shariah, Credit Risk, Participation, Reserves, Sales

Differential market valuations of board busyness across alternative banking modelsIslam, Islamic banking

Long Run asymmetric relationships between Islamic and conventional equity indicesIslamic banking, Shariah, Shariah compliant

Pemeringkat Efek Indonesia (PEFINDO), Indonesia’s rating agency, has affirmed the ‘idA+ (sy)’ rating for Permodalan Nasional Madani’s (PNM) 2017 Series D Sukuk Mudharabah I worth IDR 100 billion, according to an official statement released recently.  According to the IslamicMarkets Sukuk Monitor, the Series D Sukuk Mudharabah was initially issued on the 31st of January 2018 with a three-year tenure set to mature on the 31st of January 2021, with a coupon rate of 10%.  PNM is expected to pay the debt securit...

Malaysian property developer, Sime Darby Property (SD Property) has announced its first issuance of Sukuk Musharakah under its MYR 4.5 billion Sukuk Musharakah Programme, with a total issue size of MYR 800 million on the 3rd of December 2020, according to local media reports.  In a Bursa Malaysia filing, the company stated that the Sukuk issuance was made up of MYR 150 million ASEAN Sustainability SRI Sukuk Musharakah with a tenure of five years, MYR 500 million Sukuk Musharakah with a seven-year tenure, as well as MYR 150 million Sukuk Musha...

Indonesian state-owned construction company, Wijaya Karya’s (WIKA) offering of securities worth IDR 2 trillion, comprising of IDR 500 billion in Sukuk and IDR 1.5 trillion in sustainable bonds, has been oversubscribed 2.5 times, according to local media reports.  The initial offering lasted until the 1st of December 2020. According to Ade Wahyu, Finance Director of WIKA, the Sukuk and bonds offered by the company were issued in three series namely Series A with a tenure of 3 years, Series B with a 5-year tenure, and Series C with a tenure of...

The National Mortgage Corporation of Malaysia, also known as Cagamas, has announced the combined issuance of Sukuk and bonds amounting to MYR 2 billion, according to local media reports. Proceeds of the issuance will be utilized to fund housing loans and house financing from the financial system. The transaction, which is the largest amount priced by Cagamas in a single day since November 2013, marks the company’s 20th issuance in 2020, with a year-to-date issuance amounting to MYR 9.32 billion. In 2019, Cagamas successfully completed 2...

Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB), and Uzbekistan’s Xalq Bank have signed an Advisory Services Agreement in relation to launching of an Islamic Window at Xalq Bank, according to media reports. The agreement, which was signed by Ayman Amin Sejiny, Chief Executive Officer of ICD and Farkhod Islomovich Salamov, Chairman of the Management Board of Xalq Bank, will support the launch of an Islamic Window at Xalq Bank, which will all...

Upon request from the President of Indonesia, Bank Indonesia (BI) will increase its efforts towards assisting the nation’s comeback from the effects of COVID-19, with Governor Perry Warjiyo stating that BI will continue to direct all policy instruments in favour of an economic recovery.  To date, in order to cope with the economic implications of the pandemic, the Governor noted that BI has cut interest rates to a record low by 125 basis points, implemented quantitative easing measures&n...

News reports stated that Taiwan and Brunei have signed an agreement to promote the Halal economy between the two nations. Andrew Lee, Taiwan’s representative to Brunei who was present at the signing, stated that the agreement was finalised after ten months of discussion between the Taipei Economic and Cultural Office in Brunei and the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Business Council. According to Lee, the purpose of the agreement is to develop cooperation in the Halal industry and facilitate&nbs...