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Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia (ARBM) has announced the official launch of its digital bank arm Rize, offering a wide range of the entity's existing services along with additional products which will be made available gradually, as per a statement made on the 1st of December 2022. Why it Matters? Services provided by Rize will include deposits, withdrawals, and transfers, account and personal finance management, debit cards application, purchase, and maintenance, ATM services, e-statements, and tailored personal financing. Rize is currently aimed toward retail consumers, but the small a...

IM Insights | December 09, 2022

Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia (ARBM) has announced the official launch of its digital bank arm Rize, offering a wide range of the entity's existing services along with additional products which will be made available gradually, as per a statement made on the 1st of December 2022. Why it Matters? Services provided by Rize will include deposits, withdrawals, and transfers, account and personal finance management, debit cards application, purchase, and maintenance, ATM services, e-statements, and tailored personal financing. Rize is currently aimed toward retail consumers, but the small a...

IM Insights | December 09, 2022

The Green Economy and Cost of Funding

Government agencies and the private sector are working in full swing to consider the funding mechanisms available to support the Saudi Green Initiative.The first package to develop the green economy was launched, which consists of investments of more than SAR 700 billion (USD 186.41 billion), and several goals were set for protecting the environment and facing climate challenges.This column discusses the financing options available to those involved in implementing these green initiatives. In addition to direct investment from the private sector and self-financing from government agen...

Mohammed KHNIFER | December 09, 2022

The Green Economy and Cost of Funding

The Green Economy and Cost of Funding

Government agencies and the private sector are working in full swing to consider the funding mechanisms available to support the Saudi Green Initiative.The first package to develop the green economy was launched, which consists of investments of more than SAR 700 billion (USD 186.41 billion), and several goals were set for protecting the environment and facing climate challenges.This column discusses the financing options available to those involved in implementing these green initiatives. In addition to direct investment from the private sector and self-financing from government agen...

Mohammed KHNIFER | December 09, 2022

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

Ethical considerations are becoming an increasingly important and mainstream part of the financial markets, as more and more stakeholders are eager to engage in causes that have a positive impact on society or the environment, such as sustainable agriculture, renewable energy, and climate action.  The following are a few of ethical investment trends emerging: Increased Awareness and Interest in Ethical Investing: Over the past few years, there has been a growing awareness and interest in ethical investing, as more and more people are looking for ways to align their investments wi...

IM Insights | December 08, 2022

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

Ethical considerations are becoming an increasingly important and mainstream part of the financial markets, as more and more stakeholders are eager to engage in causes that have a positive impact on society or the environment, such as sustainable agriculture, renewable energy, and climate action.  The following are a few of ethical investment trends emerging: Increased Awareness and Interest in Ethical Investing: Over the past few years, there has been a growing awareness and interest in ethical investing, as more and more people are looking for ways to align their investments wi...

IM Insights | December 08, 2022

Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia-based JB Cocoa Sdn Bhd (JB Cocoa), the wholly owned subsidiary of investment holding company JB Foods Limited’s (JB Foods) has announced the successful issuance of the first tranche of MYR 100 million Wakalah Sukuk, under an MYR 500 million nominally-valued Sukuk Wakalah programme based on Wakalah Bi Al-Istithmar. Why it Matters?  The issuance, which was made to support the company in diversifying its fundraising requirements by utilising the capital market for business expansion despite the current difficult economic environment, received commitment and...

IM Insights | December 08, 2022

Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia-based JB Cocoa Sdn Bhd (JB Cocoa), the wholly owned subsidiary of investment holding company JB Foods Limited’s (JB Foods) has announced the successful issuance of the first tranche of MYR 100 million Wakalah Sukuk, under an MYR 500 million nominally-valued Sukuk Wakalah programme based on Wakalah Bi Al-Istithmar. Why it Matters?  The issuance, which was made to support the company in diversifying its fundraising requirements by utilising the capital market for business expansion despite the current difficult economic environment, received commitment and...

IM Insights | December 08, 2022

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

Millennials, those born between 1981 and 1996, and Generation Z (Gen Z), those born between 1997 and 2012, are reshaping the asset management industry. These younger generations have different attitudes towards investing than previous generations, and this is driving changes in the products and services offered by asset management companies.  Generational EdgeAccording to the World Economic Forum, there were 1.8 billion millennials in the world as at November 2021, accounting for 23% of the total population. This generation was the largest adult cohort globally, as well as the mo...

IM Insights | December 07, 2022

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

Millennials, those born between 1981 and 1996, and Generation Z (Gen Z), those born between 1997 and 2012, are reshaping the asset management industry. These younger generations have different attitudes towards investing than previous generations, and this is driving changes in the products and services offered by asset management companies.  Generational EdgeAccording to the World Economic Forum, there were 1.8 billion millennials in the world as at November 2021, accounting for 23% of the total population. This generation was the largest adult cohort globally, as well as the mo...

IM Insights | December 07, 2022

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia-based Yinson Holdings Berhad (Yinson) has announced the successful issuance of a total of MYR 360 million in nominal value of Islamic notes under its perpetual MYR 1 billion Sukuk Wakalah Programme, as per a bourse filing.  Why it Matters? The Sukuk was made in two offerings: on the 2nd of November 20222, Sukuk worth MYR 250 million was issued; and on the 5th of December 2022, the remaining MYR 110 million was issued. The funds raised from the issuances will be used for Yinson's capital expenditures as well as the refinancing of its current and upcoming financing or...

IM Insights | December 07, 2022

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia-based Yinson Holdings Berhad (Yinson) has announced the successful issuance of a total of MYR 360 million in nominal value of Islamic notes under its perpetual MYR 1 billion Sukuk Wakalah Programme, as per a bourse filing.  Why it Matters? The Sukuk was made in two offerings: on the 2nd of November 20222, Sukuk worth MYR 250 million was issued; and on the 5th of December 2022, the remaining MYR 110 million was issued. The funds raised from the issuances will be used for Yinson's capital expenditures as well as the refinancing of its current and upcoming financing or...

IM Insights | December 07, 2022

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia-based Advanced Petrochemical Company (Previously known as: Advanced Polypropylene) has announced the closure of an SAR 6.1 billion (USD 1.62 billion) Shariah-compliant facilities by its subsidiary Advanced Polyolefins Industry Company (Advanced Polyolefins) to finance the construction of three plants in Jubail Industrial City.  Why it Matters? The financial close comes after the company signed various Islamic facility agreements with a consortium of financial institutions on the 6th of July 2022 to construct the three plants, namely propane dehydrogenation, poly...

IM Insights | December 07, 2022

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia-based Advanced Petrochemical Company (Previously known as: Advanced Polypropylene) has announced the closure of an SAR 6.1 billion (USD 1.62 billion) Shariah-compliant facilities by its subsidiary Advanced Polyolefins Industry Company (Advanced Polyolefins) to finance the construction of three plants in Jubail Industrial City.  Why it Matters? The financial close comes after the company signed various Islamic facility agreements with a consortium of financial institutions on the 6th of July 2022 to construct the three plants, namely propane dehydrogenation, poly...

IM Insights | December 07, 2022

Essential Elements for Effective Wealth Management  

Introduction: Wealth management is the process of planning and implementing strategies to grow and protect one’s financial assets. It's important to think about both the short-term and long-term when it comes to managing and growing wealth, as this will help ensure that the resources needed to achieve financial goals are present and that the individual’s lifestyle is maintained today and in the future.  Setting Goals: The first step in wealth management is to set both short-term and long-term financial goals. These goals should be specific, measurable, achievable, relevant,...

IM Insights | December 07, 2022

Essential Elements for Effective Wealth Management  

Essential Elements for Effective Wealth Management  

Introduction: Wealth management is the process of planning and implementing strategies to grow and protect one’s financial assets. It's important to think about both the short-term and long-term when it comes to managing and growing wealth, as this will help ensure that the resources needed to achieve financial goals are present and that the individual’s lifestyle is maintained today and in the future.  Setting Goals: The first step in wealth management is to set both short-term and long-term financial goals. These goals should be specific, measurable, achievable, relevant,...

IM Insights | December 07, 2022

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of an MYR 935 million (USD 213 million) Sukuk issuance, comprising MYR 735 million one-year Islamic medium-term notes (IMTNs) and MYR 200 million (USD 45.7 million) three-year IMTNs, as per a statement on the 5th of December 2022. Why it Matters? The offering's proceeds will be utilised to pay for the acquisition of mortgage loans and other home finance from the domestic financial sector. The papers are unsecured obligations of the corporation that rank pari passu with all other c...

IM Insights | December 06, 2022

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of an MYR 935 million (USD 213 million) Sukuk issuance, comprising MYR 735 million one-year Islamic medium-term notes (IMTNs) and MYR 200 million (USD 45.7 million) three-year IMTNs, as per a statement on the 5th of December 2022. Why it Matters? The offering's proceeds will be utilised to pay for the acquisition of mortgage loans and other home finance from the domestic financial sector. The papers are unsecured obligations of the corporation that rank pari passu with all other c...

IM Insights | December 06, 2022

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

The volume of Islamic banking in Egypt has reached roughly EGP 459 billion (USD 18.7 billion) by the end of September 2022, witnessing a rise of EGP 52 billion (USD 2.1 billion) and a growth rate of 12.8% over September 2021, according to Mohamed El-Beltagy, Head of the Egyptian Society for Islamic Finance.  Why it Matters? With more than 60 banking products and services, Islamic banking makes up around 5% of all banking in Egypt. 14 banks in the local market are licensed by the Central Bank of Egypt (CBE) to provide Islamic banking services, including three wholly Islamic b...

IM Insights | December 05, 2022

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

The volume of Islamic banking in Egypt has reached roughly EGP 459 billion (USD 18.7 billion) by the end of September 2022, witnessing a rise of EGP 52 billion (USD 2.1 billion) and a growth rate of 12.8% over September 2021, according to Mohamed El-Beltagy, Head of the Egyptian Society for Islamic Finance.  Why it Matters? With more than 60 banking products and services, Islamic banking makes up around 5% of all banking in Egypt. 14 banks in the local market are licensed by the Central Bank of Egypt (CBE) to provide Islamic banking services, including three wholly Islamic b...

IM Insights | December 05, 2022