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Insights

COVID-19: Iran Approves IRR 1,000 Trillion Economic Relief Package

Spokesperson for the Iranian administration, Ali Rabiei, announced that Iran’s Coronavirus Fight National Headquarters has decided to allocate IRR 1,000 trillion, t...
IM Insights | March 31, 2020

Bank Negara Announces Extension of Life and Family Takaful Relief Programme

Bank Negara Malaysia (BNM) announced that family Takaful participants and life insurance policyholders will be given the option to defer their regular payments for three months without affec...
IM Insights | March 31, 2020

The IFSB Issues Exposure Draft of a Standard Aimed at the Global Takaful Industry

On the 25th of March 2020, the Islamic Financial Services Board (IFSB) issued an Exposure Draft (ED-25) of a Standard on Disclosures to Promote Transparency and Market Discipline for Takaful...
IM Insights | March 31, 2020

Pakistan’s IPPA urges PD to Raise PKR 200 Billion Sukuk to Settle Overdue Payments to the IPPs

Independent Power Producers Association (IPPA) has requested Power Division (PD) to expedite Pakistan Energy Sukuk-II of PKR 200 billion to settle sizeable overdue amounts owing to Independent Po...
IM Insights | March 31, 2020

Malaysia’s Fiscal Deficit for 2020 to Widen due to Multi-Billion Stimulus Package

According to a local media report, Malaysia’s Finance Minister (FM) Tengku Zafrul Tengku Abdul Aziz stated that the country's fiscal deficit for 2020 would be wider than the...
IM Insights | March 31, 2020

Bank CIMB Niaga’s IDR 1 Trillion Mudharabah Sukuk Phase III to be Listed on IDX

Bank CIMB Niaga Sustainable Sukuk (Mudharabah) Phase III  will be listed on the Indonesia Stock Exchange (IDX) on the 30th of March 2020, according to an announcement by the IDX. Acco...
IM Insights | March 30, 2020

Indonesian Government Raises IDR 6.6 Trillion through Sukuk Auction

Indonesian Government Raises IDR 6.6 Trillion through Sukuk Auction
Amidst the on-going COVID-19 crisis, the Government of Indonesia has raised IDR 6.6 trillion through the auction of State Shariah Securities (SBSN). This was lower than the initial target of IDR 7 tri...
IM Insights | March 30, 2020

Malaysian State of Perak to Allocate MYR 11.95 Million Zakat Fund to Assist Covid-19 Victims

Malaysian State of Perak to Allocate MYR 11.95 Million Zakat Fund to Assist Covid-19 Victims
Sultan Nazrin Muizzuddin Shah, the Sultan of Malaysia’s Perak state has approved a special Zakat fund of MYR 11.95 million to assist the people affected by COVID-19 and in a...
IM Insights | March 30, 2020

KSA Raises Over SAR 15 Billion Through Sukuk Issuance

KSA Raises Over SAR 15 Billion Through Sukuk Issuance
The Kingdom of Saudi Arabia’s (KSA) Finance Ministry has announced that it has concluded the March 2020 SAR-denominated Sukuk issuance on the 27th of March 2020. The Sukuk, valued at SAR...
IM Insights | March 30, 2020

Moody’s Predicts the Philippines to Issue Sukuk to Fund Infrastructure Drive

In a recent report issued by Moody’s Investor Services (Moody’s), it is reported that the Philippines might venture into issuing Sukuk to fund the country’s massive infrastructure de...
IM Insights | March 30, 2020