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IIF Predicts GCC Countries to Face the Toughest Economic Crisis Ever in Their History

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

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

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 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

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

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

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 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

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 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