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A Step Forward on Sustainability- and Climate-Related Disclosure Standards

The ISSB has released draft sustainability- and climate-related disclosure guidelines that will provide a global ‘baseline’ for future requirementsIndustry-specific requirements largely follow SASB, although the financial sector has seen expectations rise for its financed and facilitated emissions reporting, which is reflected in the draft standard going beyond the SASB standard last updated in 2018Improving disclosures, particularly relating to financial institution financed emissions, need to be concise and contextualised, and be able to scale up collection and assurance of...

Blake Goud | April 07, 2022

A Step Forward on Sustainability- and Climate-Related Disclosure Standards

A Step Forward on Sustainability- and Climate-Related Disclosure Standards

The ISSB has released draft sustainability- and climate-related disclosure guidelines that will provide a global ‘baseline’ for future requirementsIndustry-specific requirements largely follow SASB, although the financial sector has seen expectations rise for its financed and facilitated emissions reporting, which is reflected in the draft standard going beyond the SASB standard last updated in 2018Improving disclosures, particularly relating to financial institution financed emissions, need to be concise and contextualised, and be able to scale up collection and assurance of...

Blake Goud | April 07, 2022

Small and Medium-Sized Enterprises Supported Via Qatar Islamic Bank Al Dhameen Programme

Qatar Development Bank (QDB) has announced new updates to the Al Dhameen programme for the first time to encourage partner banks to fund projects in order to attract bright start-ups and small and medium-sized enterprises (SMEs) looking for funding to expand. Why it Matters?  The updates made to the decade-old programme result from reviews that considered best international practices for growth in the interests of entrepreneurs and partner banks, aligning processes and improving guarantees terms. The programmes’ new updates will contribute to the development of the national busi...

IM Insights | April 07, 2022

Small and Medium-Sized Enterprises Supported Via Qatar Islamic Bank Al Dhameen Programme

Small and Medium-Sized Enterprises Supported Via Qatar Islamic Bank Al Dhameen Programme

Qatar Development Bank (QDB) has announced new updates to the Al Dhameen programme for the first time to encourage partner banks to fund projects in order to attract bright start-ups and small and medium-sized enterprises (SMEs) looking for funding to expand. Why it Matters?  The updates made to the decade-old programme result from reviews that considered best international practices for growth in the interests of entrepreneurs and partner banks, aligning processes and improving guarantees terms. The programmes’ new updates will contribute to the development of the national busi...

IM Insights | April 07, 2022

Tenaga Nasional Subsidiary Lodges USD 2.4 Billion Sukuk Wakalah Programme with Securities Commission Malaysia

TNB Power Generation Sdn Bhd (TPGSB), also known as TNB Genco, the wholly-owned subsidiary of Tenaga Nasional Bhd’s (TNB), has announced its lodgement of a Sukuk Wakalah Programme of up to MYR 10 billion (USD 2.4 billion) with the Securities Commission (SC) Malaysia in a filing made with Bursa Malaysia on the 5th of April 2022. Why it Matters? The programme will allow TPGSB to flexibly time its fund-raising activities with varied nominal value and tenures in order to achieve the best asset-liability matching as well as provide it with access to a diverse pool of investors i...

IM Insights | April 06, 2022

Tenaga Nasional Subsidiary Lodges USD 2.4 Billion Sukuk Wakalah Programme with Securities Commission Malaysia

Tenaga Nasional Subsidiary Lodges USD 2.4 Billion Sukuk Wakalah Programme with Securities Commission Malaysia

TNB Power Generation Sdn Bhd (TPGSB), also known as TNB Genco, the wholly-owned subsidiary of Tenaga Nasional Bhd’s (TNB), has announced its lodgement of a Sukuk Wakalah Programme of up to MYR 10 billion (USD 2.4 billion) with the Securities Commission (SC) Malaysia in a filing made with Bursa Malaysia on the 5th of April 2022. Why it Matters? The programme will allow TPGSB to flexibly time its fund-raising activities with varied nominal value and tenures in order to achieve the best asset-liability matching as well as provide it with access to a diverse pool of investors i...

IM Insights | April 06, 2022

Bank Nizwa Inks Agreement with Ministry of Labour to Support its Sahim Programme

Oman’s Bank Nizwa has signed an agreement with the Ministry of Labour to provide a comprehensive set of Shariah-compliant banking services specially designed for beneficiaries of the Ministry’s Sahim Programme (Sahim), supporting its efforts to attract talented youth and assist them in joining the labour market. Why it Matters? The Ministry of Labour launched Sahim to strategically regulate the labour market and upgrade the ratio of the national workforce in both public and private sectors, as well as support the local economy and improve living standards. The program...

IM Insights | April 05, 2022

Bank Nizwa Inks Agreement with Ministry of Labour to Support its Sahim Programme

Bank Nizwa Inks Agreement with Ministry of Labour to Support its Sahim Programme

Oman’s Bank Nizwa has signed an agreement with the Ministry of Labour to provide a comprehensive set of Shariah-compliant banking services specially designed for beneficiaries of the Ministry’s Sahim Programme (Sahim), supporting its efforts to attract talented youth and assist them in joining the labour market. Why it Matters? The Ministry of Labour launched Sahim to strategically regulate the labour market and upgrade the ratio of the national workforce in both public and private sectors, as well as support the local economy and improve living standards. The program...

IM Insights | April 05, 2022

Pakistan’s Central Directorate of National Savings to Offer Islamic Investment Opportunities

Pakistan’s Central Directorate of National Savings (CDNS) has announced its intentions to begin offering Islamic finance facilities and aims to start the implementation of its procedural work as of May 2022. Why it Matters? Islamic Shariah business currently makes up 20% of the private and public banking sector in Pakistan. Through this initiative, the CDNS will provide Islamic investment opportunities to its consumers and accordingly, Prize Bonds and Savings Certificates will be issued for investment in accordance with Shariah principles. Details  CDNS...

IM Insights | April 05, 2022

Pakistan’s Central Directorate of National Savings to Offer Islamic Investment Opportunities

Pakistan’s Central Directorate of National Savings to Offer Islamic Investment Opportunities

Pakistan’s Central Directorate of National Savings (CDNS) has announced its intentions to begin offering Islamic finance facilities and aims to start the implementation of its procedural work as of May 2022. Why it Matters? Islamic Shariah business currently makes up 20% of the private and public banking sector in Pakistan. Through this initiative, the CDNS will provide Islamic investment opportunities to its consumers and accordingly, Prize Bonds and Savings Certificates will be issued for investment in accordance with Shariah principles. Details  CDNS...

IM Insights | April 05, 2022

Sukuk Offerings See Record Year Start Globally on the Back of 40% Increase in Oil Prices 

Global Sukuk offerings have witnessed the busiest start of a year on record with the sales of new sukuk set to mature in at least a year nearing USD 24 billion in 2022. The high price of oil was cited as a driver of the vibrant issuance as activity was led by Saudi Arabia and Turkey, according to Bloomberg.Why it Matters? Investors in oil-producing countries, which represent some of Islamic finance’s biggest markets, saw cash influxes on the back of a 40% increase in oil prices in 2022. Shariah-compliant debt saw better performance than global bonds with investment-gra...

IM Insights | April 04, 2022

Sukuk Offerings See Record Year Start Globally on the Back of 40% Increase in Oil Prices 

Sukuk Offerings See Record Year Start Globally on the Back of 40% Increase in Oil Prices 

Global Sukuk offerings have witnessed the busiest start of a year on record with the sales of new sukuk set to mature in at least a year nearing USD 24 billion in 2022. The high price of oil was cited as a driver of the vibrant issuance as activity was led by Saudi Arabia and Turkey, according to Bloomberg.Why it Matters? Investors in oil-producing countries, which represent some of Islamic finance’s biggest markets, saw cash influxes on the back of a 40% increase in oil prices in 2022. Shariah-compliant debt saw better performance than global bonds with investment-gra...

IM Insights | April 04, 2022

Asian Banks Need to Improve How They Track and Disclose Financed Emissions Risks

Investor coalition Asia Transition Platform evaluated Asian banks on their climate governance, risk management and policiesThe report found significant gaps compared to TCFD recommendations and national decarbonisation commitments Report conclusions are in harmony with RFI Foundation research about the importance of financed emissions risks within Islamic markets, some of which overlap An analysis of 32 large Asian banks conducted for investor platform Asia Transition Platform has found significant gaps in their disclosures of climate-related risks. These risks were fou...

Blake Goud | April 04, 2022

Asian Banks Need to Improve How They Track and Disclose Financed Emissions Risks

Asian Banks Need to Improve How They Track and Disclose Financed Emissions Risks

Investor coalition Asia Transition Platform evaluated Asian banks on their climate governance, risk management and policiesThe report found significant gaps compared to TCFD recommendations and national decarbonisation commitments Report conclusions are in harmony with RFI Foundation research about the importance of financed emissions risks within Islamic markets, some of which overlap An analysis of 32 large Asian banks conducted for investor platform Asia Transition Platform has found significant gaps in their disclosures of climate-related risks. These risks were fou...

Blake Goud | April 04, 2022

Securities Commission Malaysia Introduces Shariah Screening Assessment Toolkit to Strengthen Islamic Capital Market

The Securities Commission Malaysia (SC) has introduced a Shariah Screening Assessment Toolkit (Toolkit) for the unlisted micro, small and medium enterprises (MSMEs), according to the SC Annual Report 2021.  Why it Matters? SC continued to improve the value offering of Islamic Capital Markets (ICM) by expanding access to shariah-compliant funding, boosting Islamic social finance, and supporting Islamic fintech growth. The Toolkit was introduced to facilitate a conducive funding ecosystem within ICM and advance the development of market-based financing avenues to support the...

IM Insights | March 30, 2022

Securities Commission Malaysia Introduces Shariah Screening Assessment Toolkit to Strengthen Islamic Capital Market

Securities Commission Malaysia Introduces Shariah Screening Assessment Toolkit to Strengthen Islamic Capital Market

The Securities Commission Malaysia (SC) has introduced a Shariah Screening Assessment Toolkit (Toolkit) for the unlisted micro, small and medium enterprises (MSMEs), according to the SC Annual Report 2021.  Why it Matters? SC continued to improve the value offering of Islamic Capital Markets (ICM) by expanding access to shariah-compliant funding, boosting Islamic social finance, and supporting Islamic fintech growth. The Toolkit was introduced to facilitate a conducive funding ecosystem within ICM and advance the development of market-based financing avenues to support the...

IM Insights | March 30, 2022

Emirate of Sharjah Sells US dollar-denominated 8-Year Sukuk

The Emirate of Sharjah, in the United Arab Emirates (UAE), has started accepting orders for 8-year US dollar-denominated Islamic bonds (sukuk). According to a bank document, Sharjah's initial pricing guidance for the sukuk was between 155 and 160 basis points (bps) over seven-year US Treasury.Why it Matters?The sukuk is anticipated to be launch later on Monday, with a benchmark size of at least $500 million.Details The global coordinator is Standard Chartered STAN.L.According to the document, the joint lead managers and bookrunners include Abu Dhabi Commercial Bank, Abu Dhabi Islami...

IM Insights | March 29, 2022

Emirate of Sharjah Sells US dollar-denominated 8-Year Sukuk

Emirate of Sharjah Sells US dollar-denominated 8-Year Sukuk

The Emirate of Sharjah, in the United Arab Emirates (UAE), has started accepting orders for 8-year US dollar-denominated Islamic bonds (sukuk). According to a bank document, Sharjah's initial pricing guidance for the sukuk was between 155 and 160 basis points (bps) over seven-year US Treasury.Why it Matters?The sukuk is anticipated to be launch later on Monday, with a benchmark size of at least $500 million.Details The global coordinator is Standard Chartered STAN.L.According to the document, the joint lead managers and bookrunners include Abu Dhabi Commercial Bank, Abu Dhabi Islami...

IM Insights | March 29, 2022

Financial Institutions and Their Investors Are Flying Blind into the Climate Transition

The European Central Bank’s supervisory assessment of metrics and disclosures on climate risk at European banks found significant gaps throughout the banking systemBanks have been developing their capacity to analyse climate risk, but have lagged regulatory expectations based on the pace at which climate-related risks are growingOther trade and monetary policy-related issues will help to quickly spread the risks seen in European banks to other parts of the world The European Union has been among the most active regions in creating disclosure regulations relating to Environmental...

Blake Goud | March 28, 2022

Financial Institutions and Their Investors Are Flying Blind into the Climate Transition

Financial Institutions and Their Investors Are Flying Blind into the Climate Transition

The European Central Bank’s supervisory assessment of metrics and disclosures on climate risk at European banks found significant gaps throughout the banking systemBanks have been developing their capacity to analyse climate risk, but have lagged regulatory expectations based on the pace at which climate-related risks are growingOther trade and monetary policy-related issues will help to quickly spread the risks seen in European banks to other parts of the world The European Union has been among the most active regions in creating disclosure regulations relating to Environmental...

Blake Goud | March 28, 2022

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