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ADIB closes $235m Sharia-compliant transaction to finance gas carriers
Abu Dhabi, UAE -- Abu Dhabi Islamic Bank (ADIB) has closed a sharia compliant syndicated transaction totaling AED865 million ($235 million) for BGN and Al Seer Marine to finance new and energy-efficient gas carriers. This financing marks the second tranche of a larger syndication amounting to US$370 million, which will...
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DGCX waives fees for Shari’ah compliant Spot Gold Contract
Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees for its Shariah Compliant Spot Gold Contract as it expects the move to increase trading volumes. In a statement, DGCX said after having received regulatory approval from the UAE Securities... -
Subscription opens to Alinma EMF
The subscription is open for 60 days until Aug 31. -
ADIB, ADIO to fund businesses
ADIB will facilitate the opening of Shariah-compliant bank accounts. -
Emirates NBD arranges sukuk
The inaugural $600m sukuk saw orders of over $2.2 billion. -
Educational Holding net profit $20.3m
The profits grew by 1,3 percent compared to 9M period last year. -
SAMA starts consumer microfinance licenses in kingdom
The Saudi Central Bank, or SAMA, has launched licenses for consumer microfinance operations in the Kingdom. This follows the bank’s announcement of the third license for a consumer microfinance company in the Kingdom, Sulfah. Microfinance targets individuals and small businesses, including self-employed people, who may otherwise lack access to banking... -
Jadwa of Saudi Arabia launches a $800m real estate fund
Jadwa Investment of Saudi Arabia has launched a new Shariah-compliant real estate fund to the tune of $800 million. The company manages a portfolio of property worth $3.36 billion. -
Qatar gave $45m in zakat to eligible families in November
Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents. -
Growing Islamophobia hits Islamic banking in Europe
The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers from the Covid-19 pandemic. But it may not be the case in the Europe. -
Central Bank of Kuwait conducts another round of Shariah auditor program
The Central Bank of Kuwait (CBK) has launched the fourth round of the Certified Shariah Auditor program to strengthen the Shariah supervision of Islamic banks in Kuwait and reinforce Shari'ah-compliant auditing in such banks. The CBK organized the new edition of the program as part of the "Kafa'a Initiative", which... -
Afghanistan will be ruled by a council: Taliban leader
The insurgent group has made no official statement on the structure of their government even as a key Taliban member held talks on Wednesday with former Afghan president Hamid Karzai. A member of The Taliban delegation that arrived from Doha said that the delegation will hold consultations with local and... -
Ethos Invest to raise $1.38 billion through a Shariah-compliant fund
The company will invest in the UK, Europe, the MENA region, South Asia, North America Sharia-compliant investment industry is available across 80 countries but remains relatively new in Western markets Ethos Invest, the UK-based firm, seeks to raise $1.38 billion through a new Shariah-compliant fund, and become the world’s largest...