Annual financial value of Zakat and voluntary giving is anticipated to grow over the next five years. Growth of fintech firms and digitalisation of financial services as the key contributor to expansion of voluntary giving. This research was conducted among 346 leading Islamic finance professionals working across sectors by IslamicMarkets.com during August 2022.  Developments in fintech and digitalisation will be a major contributor to growth in the annual financial value of Zakat, as well as voluntary giving such as Sadaqah donations and Waqf endowments.  &nb...

Investment in Islamic finance is expected to increase dramatically over the next five years. This growth in investment is set to be driven by the dramatic expansion in the sector, among other factors. This research was conducted among 346 leading Islamic finance professionals working across sectors by IslamicMarkets.com during August 2022.  The strong growth of the Islamic finance sector is proving increasingly attractive to private equity (PE) and venture capital (VC) investors, according to the research.   The research, conducted by IslamicMarkets.com...

Malaysia-based Amanat Lebuhraya Rakyat Berhad (ALR) has announced the successful pricing of AAA-rated Sustainability Sukuk Murabahah with a nominal value of MYR 5.5 billion (USD 1.2 billion), under its Sustainability Sukuk Murabahah Programme, to fund the purchase of four major highways in the Klang Valley, on the 23rd of September 2022. Why it Matters?  ALR was created with the goal of acquiring four highway toll concessionaires as part of a toll restructuring plan submitted to the Malaysian Ministry of Works. A conditional bid was made by the entity on the 4th of April 202...

ADI Capital, Abu Dhabi Islamic Bank-Egypt's (ADIB-Egypt) investment banking arm, has announced the successful completion of an EGP 2 billion (USD 102.3 million) joint Islamic financing agreement to support Egypt-based Elsewedy Electric’s affiliate companies on the 27th of September 2022. Why it Matters? A banking consortium led by ADIB will provide the financing which will be channelled by Elsewedy Electric for the expansion of its activities as well as those of its subsidiaries, covering working capital needs, facilitating workflow, and the import of raw materials. Accordi...

Emerging markets financial institutions are working hard to keep up with investor expectations as well as emerging regulations in their home countries. It will take more than a global standard to accelerate action at the pace that’s needed, and this should be done without overwhelming financial institutions’ capacity for data, disclosures & decision-making in the interim. Comments received by the ISSB from its draft global sustainability and climate disclosure standards suggest a long path for emerging market financial institutions to build comprehensive & comparable cli...

A total of USD 2 billion has been raised by Malaysia through 21 sustainable and responsible investment (SRI) Sukuk issuers from 2015 to 2021, according to the Securities Commission (SC) Malaysia on the 28th of September 2022.  Why it Matters? The development of Islamic instruments and investments in Malaysia and its ongoing market and industrial progress, according to SC Executive Chairman, Dato’ Seri Dr. Awang Adek bin Hussin, has been made possible by three essential prerequisites: a supportive ecosystem, partners that share the same values, and a facilitative legal framework,...

The green Sukuk market is expected to grow, presenting great interment prospects. Greater standardisation and regulation are needed for global expansion of the green Sukuk market This research was conducted among 346 leading Islamic finance professionals working across sectors by IslamicMarkets.com during August 2022.  The green Sukuk market is set for take-off as demand builds, but global expansion will require greater standardisation and regulation, according to the research. The research, conducted by IslamicMarkets.com to support the Global Islamic Finance Fo...

Malaysia-based Yinson Holdings Berhad (Yinson) has lodged a filing with Securities Commission (SC) Malaysia in order to establish a perpetual Sukuk Wakalah Programme with a maximum value of MYR 1 billion (USD 216.88 million), as per a filing with Bursa Malaysia on the 27th of September 2022. Why it Matters? The issuance's proceeds will be put to use by Yinson for capital expenditures, the refinancing of current or upcoming borrowings, working capital, other general corporate purposes, and to pay for fees, costs, and expenses related to the creation or issuance of the Programme.&n...

There is a potential conflict brewing between developed market anti-greenwashing regulations and capacity among emerging market financial institutions that enhances the need to focus on making sure global sustainable finance policy leaves no one behind. Sustainable finance is growing in diversity of both issuers, instruments and investors across a wide range of emerging marketsLimited adoption of external reviews and environmental disclosures in emerging markets raises the risks for investors facing stronger anti-greenwashing regulations in developed marketsTo address the potential conf...