#Islamic finance
The growth in the country’s debt capital markets demonstrates its expanding financial landscape and its strategic role in the global Islamic finance market
The Islamic T-Sukuk issuance programme aims to build a UAE-dirham denominated yield curve and boost the local debt capital market
The UAE is leading the charge in technological innovation and embracing the digital economy through forward-thinking digital asset regulation
Blockchain offers significant benefits for Islamic finance, including enhanced transparency and the development of innovative financial products
The Islamic bank recently unveiled 2030 emissions reduction targets for six key portfolio sectors including home and auto finance
Saudi Arabia emerged as the leading issuer, accounting for $3.98bn from five sukuk, while the UAE contributed the remaining $2.25bn
The order book for First Abu Dhabi Bank’s sukuk, which was 1.9 times oversubscribed, represented leading investors, including international fund managers, banks and supranationals
The growth in outstanding sukuk is attributed to several factors that are driving the issuance of Islamic bonds including issuers that seek to plug budget deficits
Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023
Sukuk issuance is expected to plunge in Q3 2023 before picking up pace in the last quarter of the year
Muslims worldwide estimated to spend $2.8tn by 2025 on Islamic faith-inspired consumption needs – and Malaysia looks to capture digitalisation opportunities in the sector through MDEC
The law has 25 articles that define the concepts and financing formulas, deposits, investment accounts, Takaful insurance, investments and other transactions
S&P Global Ratings expects stronger economic growth in core Islamic finance countries and will boost industry assets about 10 per cent during 2022–2023
Participating universities will be announced over the coming months
The Islamic banking sector grew 14 per cent in 2019, equating to $1.99 trillion in global assets
Bank ABC, Citigroup, Dubai Islamic Bank, Emirates NBD Capital, and HSBC, among others acted as joint lead managers and bookrunners for the transaction
With Muslim consumers across the world seeking out faith-based products and services, the Islamic economy is seeing robust growth among all its different verticals
The AAA-rated sustainability sukuk is the first Covid-19 related sukuk in the global capital markets
The sukuk was nearly 4.5 times subscribed with a profit rate of 2.95 per cent per annum
Wahed Invest got the financing from Saudi Aramco Entrepreneurship Ventures unit as part of a $25m funding round
The nine-member external advisory group includes industry bodies such as the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions.
Aiming for growth in new territories and demographic groups, Islamic banks look to drop the “Islamic” from their moniker.
A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.