SBP Injects Rs 9.57 Trillion into Pakistan’s Conventional and Islamic Banking Systems
On Friday, the State Bank of Pakistan (SBP) executed a monumental financial maneuver, injecting an astonishing Rs 9.57 trillion into the banking …
Finance
Kuwaiti Lenders Boubyan and Gulf Bank Consider Merger to Form Islamic Bank
In a significant move for the Kuwaiti financial sector, Boubyan Bank and Gulf Bank have announced plans to merge, forming a new banking entity that …
ZLK and Dubai Islamic Bank Partner to Expand Shariah Investments
In a landmark development for the Islamic finance sector, ZLK Islamic Financial Services, one of Pakistan’s leading Shariah-compliant brokerage …
ESG Sukuk Issuance in the GCC Reaches $18.5 Billion by Mid-2024
The realm of sustainable finance has seen remarkable growth in recent years, with Environmental, Social, and Governance (ESG) sukuk emerging as a …
Al Rajhi Takaful Reappoints Abdullah Al Rajhi as Chairman, Saud Al Rajhi as Vice Chairman
In a recent development that has captured the attention of the insurance industry, Al Rajhi Takaful, officially known as Al Rajhi Company for …
ITFC and Tajikistan’s Ministry Launch Islamic Trade Finance Workshops
The International Islamic Trade Finance Corporation (ITFC), a key entity within the Islamic Development Bank (IsDB) Group, has recently made strides …
Uzbekistan Approves Islamic Finance Services for Microfinance Institutions
August 2024 – In a significant move for the financial sector, Uzbekistan has officially approved the introduction of Islamic finance services within …
Securities Commission Malaysia Launches 2nd Shariah Mentorship Program for ICM Talent
The Securities Commission Malaysia (SC) has officially launched the second cohort of its Shariah Mentorship Programme, marking a pivotal moment in its …
Qatar Islamic Bank, Qatar Airways Add New Features to Co-Branded Cards
Doha—In an exciting development for travelers and credit card enthusiasts alike, Qatar Islamic Bank (QIB) and Qatar Airways Privilege Club have …
IFIC Bank Launches ‘IFIC Islamic’: Innovative Solutions for Shariah-Compliant Banking
IFIC Bank PLC has proudly unveiled ‘IFIC Islamic’, its new comprehensive suite of Shariah-compliant financial services. This major …
Moody’s Reaffirms QIIB’s A2/Prime-1 Rating with Stable Outlook
Doha: In a significant development for Qatar’s financial sector, Moody’s Investors Service has reaffirmed Qatar Islamic International Bank’s …
Bank Nizwa Highlights Waqf Significance and Hosts Workshop on Endowments
Muscat: Bank Nizwa, the leading Islamic bank in Oman, has taken a significant step towards enhancing the understanding and implementation of Waqf …
Makkah Hosts 9th Conference of Muslim World Awqaf and Islamic Affairs Ministers
Riyadh Makkah is set to host the 9th Conference of Ministers of Awqaf and Islamic Affairs on August 3, 2024, under the distinguished patronage of the …
Fauziah Hisham Becomes Etiqa’s First Female Chairperson
In a groundbreaking development, Etiqa Group has appointed Fauziah Hisham as its new chairperson, effective July 1, 2024. This historic appointment …
Funding Societies Allocates $64.22M in Islamic Financing to Malaysian MSMEs
Funding Societies, a leading Singapore-based digital finance platform, has reached a significant milestone by disbursing MYR 300 million ($64.22 …
DIBPL and ZLK Islamic Financial Services Partner to Boost Shariah-Compliant Financial Access
In a strategic initiative to broaden Shariah-compliant financial access, Dubai Islamic Bank Pakistan Limited (DIBPL), a subsidiary of Dubai Islamic …
Maybank Leads RM4B Sukuk for Sarawak Petchem Plant
Maybank has announced its significant role in financing and providing hedging facilities for Sarawak Petchem’s first methanol production plant, …
Nigeria’s First Sukuk Bond of N100 Billion Set to Mature in September 2024
Nigeria’s first Sukuk bond, valued at N100 billion and issued on September 26, 2017, is set to mature on September 26, 2024. This milestone …
Faysal Bank Projects Earnings to Double in Three Years
We are initiating coverage on Faysal Bank Limited (FABL) with a target price of PKR 100 per share. This valuation is based on a Price-to-Book (P/B) …
Moody’s Reaffirms IsDB’s ‘AAA’ Rating
The Islamic Development Bank (IsDB) has once again demonstrated its financial prowess, securing a “AAA” credit rating with a “Stable …
Pakistan’s CDNS Targets Rs 170 Billion for Islamic Finance in FY 2024–25
The Central Directorate of National Savings (CDNS) is aiming high for the 2024-2025 fiscal year with an ambitious investment target of Rs 170 billion …
Growing Demand and Key Challenges in Australia’s $2 Billion Islamic Finance Market
Australia’s Islamic finance sector, poised for significant growth, serves a vibrant and young Muslim community comprising 3.2% of the …
Samaiden Launches RM1.5b Sustainability Sukuk for Renewable Energy Growth
Kuala Lumpur. Samaiden Group Berhad has launched an impressive RM1.5 billion multi-currency Sustainability Sukuk Wakalah program to advance its …
Binghatti Sukuk Tap Achieves 420% Oversubscription
In a striking development in the finance sector, Dubai’s prominent real estate developer, Binghatti, has again made headlines with its recent …