The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
Global Sukuk issuance in 2021 is far short of the records set in previous years as the rise in U.S. Treasury yields sends shivers through fixed-income markets around the globe. Sovereign and corporate borrowers globally have sold about $2 billion of Shariah-compliant debt this year. That’s the lowest amount in a comparable period since 2015, …
There has been a strong demand for Islamic fintech products almost everywhere. Countries have been scrambling to attract bigger investments in the sector. The world has seen an upheaval due to the recent Brexit deal as the UK now risks losing its dominance in the financial services sector. Other players have been attracting more investments …
Islamic finance, which has been forecast to reach $3.69 trillion by 2024 globally in terms of assets, will continue to expand on multiple fronts on the back of supportive government policies, strong product demand, and deeper market penetration despite pandemic challenges globally. All three pillars of Islamic finance — Islamic banking, Sukuk, and Takaful — …
The Annual Middle East Banking Innovation Summit next week will showcase the latest advancements in fintech with a particular focus on the UAE.Returning for its 10th edition on March 1 and 2, 2021 at the Le Méridien Dubai Hotel & Conference Centre, the Summit will provide two full days of in-person and virtual presentations from …
Malaysia will continue to lead the global Islamic financial market in terms of Sukuk issuance this year, according to Moody’s Investors Service. Moody expects global Sukuk issuance to grow to US$190 billion-US$200 billion this year from last year’s US$205 billion. Moody’s vice president-senior analyst Ashraf Madani said the firm still expected the Sukuk volume to …
Profinch Solutions has been selected as a strategic partner by Bushra Business Bank, a leading commercial bank offering Conventional and Islamic banking services in Somalia with Sharia guidelines and banking regulations, for licensing and implementing Oracle Financial Services Suite of products and hardware services. Bushra Business Bank was keen on embarking on a technology transformation journey …
E-commerce sales in Doha are expected to reach more than $3.2bn by 2022 as many retailers and consumers shift to online platforms, allowing substantial growth of digital payment gateways and contactless payments, according to the Qatar Financial Centre (QFC)-Refinitiv report. Islamic fintech is expected to experience “significant” growth in coming years and Qatar has the …
One of South Korea’s largest food manufacturers, Daesang Corp. has big plans in the halal market after gaining confidence from its foray into Indonesia, which follows the strict Islamic dietary guidelines, according to its chief executive, Mr. Jung-bae Lim. The company plans to achieve a $1 billion sales milestone in Indonesia over the next decade …
Turkeys Islamic finance assets are set to double in the next five years, Moodys reported recently. These assets, also known as participation banking assets, in the country will double over the next five years from around 7.2% of total banking assets as of December 2020 to almost 14% by the end of 2021, global rating …
Malaysian halal industry is in the doldrums after the fake halal meat scandal recently. It was devastated due to this scandal and, the general public and foreign customers started questioning its halal certification process. The following article published below lists some of the actions the Malaysian government is taking to win back the confidence of …
Competition is growing among the UAE-based Islamic financial institutions to support the country`s SME sector. Aafaq Islamic Finance, one of the largest Islamic financial institutions in the country Introduced ‘Osool’ to empower Emirati SMEs. In early February, Emirates Islamic expanded its support network to SMEs in the UAE. Aafaq Islamic Finance, the leading Islamic Finance …
Tyson Foods and Malayan Flour Mills Berhad announced a partnership in which Tyson Foods will invest in the Malaysia-based company’s vertically integrated halal poultry business, which will add more supply flexibility for both companies in their target markets. The transaction is subject to approval by the shareholders of Malayan Flour Mills Berhad (MFM), amongst others. …
