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Malaysia’s Sunway Group to Launch MYR 2 Billion Sukuk Programme Through Indirect Subsidiary  

Malaysia-based Sunway South Quay Sdn Bhd (SSQ), the indirect wholly owned subsidiary of Sunway Berhad, has made a lodgement with the Securities Commission (SC) Malaysia for the issuance of MYR 2 billion nominally valued Islamic Medium-term Notes under its Sukuk Wakalah Programme and based on Wakalah Bi Al Istithmar, according to a filing with Bursa Malaysia on the 3rd of November 2022. Why it Matters? Through the programme, SSQ can issue Sukuk Wakalah in accordance with a variety of green, social, and sustainability-linked initiatives as well as responsible investment g...

IM Insights | November 04, 2022

Malaysia’s Sunway Group to Launch MYR 2 Billion Sukuk Programme Through Indirect Subsidiary  

Malaysia’s Sunway Group to Launch MYR 2 Billion Sukuk Programme Through Indirect Subsidiary  

Malaysia-based Sunway South Quay Sdn Bhd (SSQ), the indirect wholly owned subsidiary of Sunway Berhad, has made a lodgement with the Securities Commission (SC) Malaysia for the issuance of MYR 2 billion nominally valued Islamic Medium-term Notes under its Sukuk Wakalah Programme and based on Wakalah Bi Al Istithmar, according to a filing with Bursa Malaysia on the 3rd of November 2022. Why it Matters? Through the programme, SSQ can issue Sukuk Wakalah in accordance with a variety of green, social, and sustainability-linked initiatives as well as responsible investment g...

IM Insights | November 04, 2022

Malaysia’s AEON Credit to Raise MYR 1 Billion Through Sukuk Programme Undertaking

Malaysia-based AEON Credit Service (M) Berhad (AEON Credit) has made a lodgement with the Securities Commission (SC) Malaysia for the establishment of its MYR 1 billion (USD 211 million) nominally valued Islamic Commercial Papers (ICP) Programme, with the first Sukuk Wakalah issuance under the Programme expected to take place within 90 working days, as per a bourse filing. Why it Matters? Proceeds from the Sukuk would be utilised to fund disbursements to clients in the regular course of business and would also pay for Programme-related expenses as well as refinanc...

IM Insights | November 03, 2022

Malaysia’s AEON Credit to Raise MYR 1 Billion Through Sukuk Programme Undertaking

Malaysia’s AEON Credit to Raise MYR 1 Billion Through Sukuk Programme Undertaking

Malaysia-based AEON Credit Service (M) Berhad (AEON Credit) has made a lodgement with the Securities Commission (SC) Malaysia for the establishment of its MYR 1 billion (USD 211 million) nominally valued Islamic Commercial Papers (ICP) Programme, with the first Sukuk Wakalah issuance under the Programme expected to take place within 90 working days, as per a bourse filing. Why it Matters? Proceeds from the Sukuk would be utilised to fund disbursements to clients in the regular course of business and would also pay for Programme-related expenses as well as refinanc...

IM Insights | November 03, 2022

Malaysia’s Cagamas Concludes MYR 2.8 Billion Sukuk Issuance from Domestic and International Markets 

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has successfully concluded the issuance of MYR 2.8 billion (USD 590 million) Sukuk comprising MYR 500 million (USD 105 million) three-year Asean social sustainable and responsible investment (SRI) Sukuk and MYR 2.3 billion (USD 485 million) combined multi-tenured Islamic Medium-term Notes (IMTNs), as per a statement by the company on the 1st of November 2022. Why it Matters? The issuance, from both domestic and international markets, precedes anticipated further tightening of monetary policies by the US...

IM Insights | November 02, 2022

Malaysia’s Cagamas Concludes MYR 2.8 Billion Sukuk Issuance from Domestic and International Markets 

Malaysia’s Cagamas Concludes MYR 2.8 Billion Sukuk Issuance from Domestic and International Markets 

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has successfully concluded the issuance of MYR 2.8 billion (USD 590 million) Sukuk comprising MYR 500 million (USD 105 million) three-year Asean social sustainable and responsible investment (SRI) Sukuk and MYR 2.3 billion (USD 485 million) combined multi-tenured Islamic Medium-term Notes (IMTNs), as per a statement by the company on the 1st of November 2022. Why it Matters? The issuance, from both domestic and international markets, precedes anticipated further tightening of monetary policies by the US...

IM Insights | November 02, 2022

Malaysia's Affin Islamic Bank Appoints New CEO 

Dato' Paduka Syed Mashafuddin Syed Badarudin has been named by Affin Bank Bhd as the new Chief Executive Officer (CEO) of Malaysia’s Affin Islamic Bank, with effect from the 8th of November 2022. Why it Matters? Syed Mashafuddin, who recently left his position as CEO of CIMB-Principal Islamic Asset Management Sdn. Bhd., brings 25 years of expertise in the financial industry to the new title and is expected to support Affin Islamic's A25 strategic strategy and its provision of customer experience and digital services, according to Affin Bank President and Group CEO, Dat...

IM Insights | November 01, 2022

Malaysia's Affin Islamic Bank Appoints New CEO 

Malaysia's Affin Islamic Bank Appoints New CEO 

Dato' Paduka Syed Mashafuddin Syed Badarudin has been named by Affin Bank Bhd as the new Chief Executive Officer (CEO) of Malaysia’s Affin Islamic Bank, with effect from the 8th of November 2022. Why it Matters? Syed Mashafuddin, who recently left his position as CEO of CIMB-Principal Islamic Asset Management Sdn. Bhd., brings 25 years of expertise in the financial industry to the new title and is expected to support Affin Islamic's A25 strategic strategy and its provision of customer experience and digital services, according to Affin Bank President and Group CEO, Dat...

IM Insights | November 01, 2022

Malaysia’s EcoWorld Makes Maiden MYR 550 Million Sukuk Offering under Sukuk Wakalah Programme 

Malaysia-based Eco World Capital Berhad, the wholly-owned subsidiary of Eco World Development Group Berhad (EcoWorld), has announced the successful issuance of its maiden offering of five-year tenured MYR 550 million (USD 106 million) Sukuk under its MYR 1.2 billion (USD 254) Sukuk Wakalah Programme, as per a filing with Bursa Malaysia. Why it Matters? Proceeds from the offering will be used for investments that adhere to Shariah, capital expenditures, and working capital needs. Additionally, it will be used for general corporate purposes, and the refinancing of any out...

IM Insights | November 01, 2022

Malaysia’s EcoWorld Makes Maiden MYR 550 Million Sukuk Offering under Sukuk Wakalah Programme 

Malaysia’s EcoWorld Makes Maiden MYR 550 Million Sukuk Offering under Sukuk Wakalah Programme 

Malaysia-based Eco World Capital Berhad, the wholly-owned subsidiary of Eco World Development Group Berhad (EcoWorld), has announced the successful issuance of its maiden offering of five-year tenured MYR 550 million (USD 106 million) Sukuk under its MYR 1.2 billion (USD 254) Sukuk Wakalah Programme, as per a filing with Bursa Malaysia. Why it Matters? Proceeds from the offering will be used for investments that adhere to Shariah, capital expenditures, and working capital needs. Additionally, it will be used for general corporate purposes, and the refinancing of any out...

IM Insights | November 01, 2022

Saudi Arabia's Alrajhi Bank Offers SAR-denominated Tier 1 Sukuk to Expand its Operations 

Saudi Arabia's Alrajhi bank has announced the introduction of its perpetual Saudi Riyals denominated Tier 1 Sukuk on the 30th of October 2022, callable by the bank in five years to grow its business and provide investors with reliable income on a regular basis. Why it Matters? The Sukuk was issued after getting approval from the Capital Markets Authority for the public offering on the 20th of October 2022 and comes as a result of the bank's successful prior private issuance in January 2022 and the sizeable investor turnout. The offering will be listed on the Saudi Stock Exch...

IM Insights | October 31, 2022

Saudi Arabia's Alrajhi Bank Offers SAR-denominated Tier 1 Sukuk to Expand its Operations 

Saudi Arabia's Alrajhi Bank Offers SAR-denominated Tier 1 Sukuk to Expand its Operations 

Saudi Arabia's Alrajhi bank has announced the introduction of its perpetual Saudi Riyals denominated Tier 1 Sukuk on the 30th of October 2022, callable by the bank in five years to grow its business and provide investors with reliable income on a regular basis. Why it Matters? The Sukuk was issued after getting approval from the Capital Markets Authority for the public offering on the 20th of October 2022 and comes as a result of the bank's successful prior private issuance in January 2022 and the sizeable investor turnout. The offering will be listed on the Saudi Stock Exch...

IM Insights | October 31, 2022

Walking the Tightrope: Managing Transition Risk in a Divergent Net Zero Scenario

The International Energy Agency’s Net Zero 2050 initiative outlined the need to end financing for new oil & gas projects in order to keep climate change to under 1.5° C, but investors and regulators worry about the macroeconomic risks that could result from an unmanaged exit from fossil fuel projects rather than orderly transitions. Could regulatory action end up mitigating some ‘divergent Net Zero’ risks? Global ambition to curtail climate change to 1.5° C may trigger more macroeconomic and financial stability concerns than regulators are comfortable withFin...

Blake Goud | October 31, 2022

Walking the Tightrope: Managing Transition Risk in a Divergent Net Zero Scenario

Walking the Tightrope: Managing Transition Risk in a Divergent Net Zero Scenario

The International Energy Agency’s Net Zero 2050 initiative outlined the need to end financing for new oil & gas projects in order to keep climate change to under 1.5° C, but investors and regulators worry about the macroeconomic risks that could result from an unmanaged exit from fossil fuel projects rather than orderly transitions. Could regulatory action end up mitigating some ‘divergent Net Zero’ risks? Global ambition to curtail climate change to 1.5° C may trigger more macroeconomic and financial stability concerns than regulators are comfortable withFin...

Blake Goud | October 31, 2022

Islamic Development Bank Approves USD 1.8 Billion Loan for Key Nigerian Projects  

The Islamic Development Bank (IsDB) has announced its approval of a USD 1.8 billion loan to the Federal Government of Nigeria to finance key projects in the country, according to Dr. Muhammad Al Jasser, IsDB President and Group Chairman, at a meeting with Zainab Ahmed, Minister of Finance, Budget, and National Planning of Nigeria, on the 24th of October 2022 in Abuja. Why it Matters?  IsDB had a USD 1.2 billion portfolio in 15 states of the federation in Nigeria, of which it has completed 35% of projects. The bank hopes to advance its bilateral and regional projects with the...

IM Insights | October 27, 2022

Islamic Development Bank Approves USD 1.8 Billion Loan for Key Nigerian Projects  

Islamic Development Bank Approves USD 1.8 Billion Loan for Key Nigerian Projects  

The Islamic Development Bank (IsDB) has announced its approval of a USD 1.8 billion loan to the Federal Government of Nigeria to finance key projects in the country, according to Dr. Muhammad Al Jasser, IsDB President and Group Chairman, at a meeting with Zainab Ahmed, Minister of Finance, Budget, and National Planning of Nigeria, on the 24th of October 2022 in Abuja. Why it Matters?  IsDB had a USD 1.2 billion portfolio in 15 states of the federation in Nigeria, of which it has completed 35% of projects. The bank hopes to advance its bilateral and regional projects with the...

IM Insights | October 27, 2022

Global Takaful Market Expected to Produce USD 97.17 Billion by 2030   

The global takaful insurance market has generated USD 24.85 billion in 2020 and is projected to generate USD 97.17 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 14.6% from 2021 to 2030, according to the report published by Allied Market Research. Why it Matters? The global takaful insurance market is expanding as a result of takaful insurance's acceptance in non-Muslim nations and its added advantages over traditional insurance. However, a lack of market participants and little consumer awareness hamper industry expansion. On the other hand, improvements in governme...

IM Insights | October 27, 2022

Global Takaful Market Expected to Produce USD 97.17 Billion by 2030   

Global Takaful Market Expected to Produce USD 97.17 Billion by 2030   

The global takaful insurance market has generated USD 24.85 billion in 2020 and is projected to generate USD 97.17 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 14.6% from 2021 to 2030, according to the report published by Allied Market Research. Why it Matters? The global takaful insurance market is expanding as a result of takaful insurance's acceptance in non-Muslim nations and its added advantages over traditional insurance. However, a lack of market participants and little consumer awareness hamper industry expansion. On the other hand, improvements in governme...

IM Insights | October 27, 2022

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