It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has said.

Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion is the Islamic finance sector, followed by the food and beverage industry, pharmaceuticals, medical and health products, cosmetics, as well as travel and tourism. In education and health sectors, recent...

Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge Pavilion Marketplace.The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities...

"Rising rates negatively impact global issuances of sukuk, thereby affecting the global sukuk market. This reduces the appetite of global investors for entering emerging markets and raises concerns about growth rates when interest rates increase. For issuers, some are often compelled to adapt to high rates due to existing obligations,"...

Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.

The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.

Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report.

Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report.

Dubai, UAE - Founded in 2022, Islamic Coin ($ISLM) has garnered a community of over 1.3M users, a feat accomplished in less than six months.  The coin which aims to cater to over 2 billion Muslims worldwide is the first Shariah-compliant decentralized ledger specifically designed to follow the rules and...

The total assets grew by 4% to reach AED 77.9bn ($21.21bn)

The bloc's exports of halal products equaled US$275 billion, while their imports totaled US$338 billion last year, says the 2022 Annual OIC Halal Economy Report.

The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152 percent. Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days. This is issue number 256 of the short-term...

The company has appointed Hisham Hammoud to the post.

Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37 percent, and $28.6 billion in 2019, according to S&P Global Ratings In 2021, while the global sukuk issuance reached $$147.4 billion compared with $$148.4 billion in 2020, foreign-currency denominated sukuk...

Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs, Fitch Ratings has said in a report. “Sukuk supply-demand imbalance will continue to be a key growth factor but not without headwinds,” said Bashar Al-Natoor, Global Head of Islamic Finance,...

DUBAI: To promote agri-food projects and investments, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank (IsDB) Group, and the Islamic Food Processing Association (IFPA), signed an agreement on Saturday. The agreement will provide ICIEC and IFPA a general...

The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to the bank’s annual meeting.

IILM's Governing Board includes the central banks and monetary agencies of UAE and Qatar as members. It is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services.

The Saudi Central Bank or SAMA has launched two programs to augment Islamic banking through research and translation, local reports have said. They are the Islamic Finance Research Support Program and the Islamic Finance Research Translation Program.

A majority of Sukuk holders voted in favor of solicitation but support fell short of the required 75 percent mark

IFIN platform eliminates the need for customers to visit their bank branch to secure finance and provides retailers with an opportunity to boost their sales and increase customer loyalty