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IIF Predicts GCC Countries to Face the Toughest Economic Crisis Ever in Their History
The Institute of International Finance (IIF), a Washington based global financial industry body, has stated that the six Gulf Cooperation Council (GCC) countries are experiencing the toughest eco...
IM Insights | June 04, 2020
ITFC Approves EUR 8 Million Murabahah Financing for Senegal’s COVID-19 Recovery
The International Islamic Trade Finance Corporation (ITFC) has agreed to provide Murabahah Financing of EUR 8 million to Banque Islamique du Sénégal (BIS),...
IM Insights | June 04, 2020
MARC Assigns Final Rating of AA-IS to Pelabuhan Tanjung Pelepas' MYR 1.9 Billion Sukuk
Malaysian Rating Corporation (MARC) has assigned a final rating of AA-IS with a Stable Outlook for the proposed MYR 1.9 billion Sukuk Murabahah program of Malaysian port operator, Pelabuhan&...
IM Insights | June 04, 2020
RAM Ratings Withdraws TF Varlik’s MYR 3 Billion Sukuk; Discontinues Turkiye Finans’ Ratings
RAM Ratings (RAM) has announced its withdrawal of the A1/Stable rating of TF Varlik Kiralama (TF Varlik)’s MYR 3 billion Sukuk Murabahah Medium-Term Notes (MTN) Programm...
IM Insights | June 04, 2020
Islamic Religious Council of Singapore Refutes Allegations on the Integrity of its Halal Certification Process
The Islamic Religious Council of Singapore (Muis) has contested several articles published in various foreign media alleging corruption, stating that it has not been approached by the Corrup...
IM Insights | June 04, 2020
UAE’s Zakat Fund Provides USD 23.5 Million to Over 5,000 Eligible Families in 2020
So far in 2020, the United Arab Emirates’ (UAE) Zakat Fund has provided USD 23.5 million (AED 86.3 million) in financial assistance to 5,109 eligible families that have been impacted by the COVI...
IM Insights | June 04, 2020
Survey Reveals 20% Retrenchment in Malaysia; Job Losses Could Exceed Two Million
According to the results of a survey conducted by the recruitment company JobStreet in May 2020, up to 20% of respondents in Malaysia who were previously employed have lost their jobs due to...
IM Insights | June 04, 2020
The IsDB Pledges USD 100 Million in Development Aid to Yemen
The Islamic Development Bank Group (IsDB) has pledged USD 100 million to Yemen over 2020-2023, according to a statement released by the IsDB. This comprises funding...
IM Insights | June 04, 2020
Faisal Islamic Bank Receives Approval from Egypt’s Financial Regulatory Authority for Capital Raise
The Egyptian Financial Regulatory Authority (FRA) has authorised a request from Faisal Islamic Bank (FIB) of Egypt to publish the disclosure form to continue with the procedures for the...
IM Insights | June 03, 2020
BIMB Investment Launches “BIMB Shariah IncomePlus Fund”
BIMB Investment Management (BIMB Investment) launched the “BIMB Shariah IncomePlus Fund” (BSIF), a new wholesale Islamic fixed income fund. According to Mohamed Ridza Moha...
IM Insights | June 03, 2020
