The Development Bank of Kazakhstan issued the first sukuk in the former Soviet Union worth $75 million. It is expexted that this sukuk will soon be followed by a number of new issues in the country. The issued bond will generates an annual payment of 5…
Additional costs for issuing an Islamic bond no longer have to be paid – the „sukuk premium“ is gone. As a senior executive at Deutsche Bank explained, this will result in a hige increase in sukuk issuance. At the same time, tenors will become longer. …
Dar Assafaa a branch of Attijariwafa Bank is currently the sole Islamic finance provider in Morocco, despite strong local deman of about 94 % as stated by a study of Islamic Finance Advisory & Assurance Services (IFAAS) in 2012. In 2010 VAT tax reg…
According to Forbes Middle East, the charity revenues in the MENA region have marked the highest numbers last year. $564.4 million (Dh2.1 billion) have been spent on charity by institutions and organizations, the most prominent of them being Social Ref…
The Finance Ministry is planning to establish a special-purpose Buddhist bank which wil be similar to the Islamic Bank of Thailand. The decision is based on an estimated savings amount of temples accross the country in weight of over 200 billion baht. …
Malaysian Bank Muamalat announced the launch of the first Islamic bank in China. The project is planned to be realized in a two-years' time in team with Bank of Shi Zui Shan of China. The new bank will be situated in the autonomous region of Ningxia Hu…
S&P Indices made an anouncement that a new Index will be launched due to increase in the demand for a shariah-compliant benchmark in Islamic countries. The new S&P/OIC COMCEC 50 Shariah Index will measure the performance of 50 leading Shariah-c…
Abu Dhabi Islamic Bank (ADIB) announced their expansion to Iraq yesterday. By opening a branch in Iraq, the bank becomes the first financial institution in the UAE which launches operations there with license from the Iraqi Central Bank. The branch of …
Islamic exchange-traded funds (ETFs) are having serious difficulty attracting new investment while Western investors, on the other hand, move into conventional ETFs. This contrast is said to be caused by the Gulf's investment culture and the principles…
According to a report from Philanthropy Management magazine, small and mid-sized philanthropies increasingly decide on a single outscourced chief investment officer (CIO). However, it os often discussed on an industry level what influence and liability…
