ICD and Mizuho Bank sign Islamic financing agreement The Islamic Corporation for the Development of the Private Sector (ICD) and Mizuho Bank have formalized a signing of Islamic financing agreement. The Islamic financing term sheet agreement was signed by Mr.Khaled Al Aboodi, the Chief Executive Officer and General Manager of ICD, and Mr. Shojiro Mizoguchi, Chief Executive Officer of Mizuho Bank (... »

Second Largest Sukuk Market Indonesia has ample room for growth, as the second-largest sukuk market in the world in 2016, Fitch Ratings says in a new report on Indonesian domestic corporate sukuk issuance. Indonesia’s domestic corporate sukuk market continues to lag far behind that of Malaysia, the largest sukuk market in the world. In the report, Fitch provides an overview of Indonesian dom... »

Meeting Discusses Socio Economic Development, Combating Poverty and Illegal Immigration Dr. Bandar Mohammad Hajjar, Chairman of the Islamic Development Bank Group, discussed with Ms. Elisabetta Martini, the Italian Consul-General in Jeddah, at IDB headquarters in Jeddah means of enhancing cooperation between IDBG and Italy in the areas of socioeconomic development, combating poverty, illegal immig... »

“Using Shariah non-compliance as a rationale for restructuring” The actions of Dana Gas can derail UAE and Dubai’s Islamic Finance ambitions as investors question credibility of UAE based Sharia compliance assurances. UAE based Dana Gas made a surprise announcement on 13 June, stating “due to the evolution and continual development of Islamic financial instruments and their interpretation, the Com... »

Despite slowdown, in USD terms size of market little changed The Islamic Financial Services Board (IFSB) in its annual Islamic financial services industry stability report highlighted continued slowdown of the global Islamic Financial Services Industry (IFSI). Despite this, the global IFSI has been able to sustain its total assets value at approximately USD1.9 trillion in 2016. 2016 – Anothe... »

Africa’s Growing Islamic Finance Footprint The use of Sukuk to fund Africa’s infrastructure needs as well as expanding Islamic Banking windows signal continued growth of African Islamic finance CIBAFI Discusses Islamic Financed African Infrastructure Funding Abdulilah Belatiq of the Bahrain based General Council for Islamic Banks and Financial Institutions (CIBAFI) discussed CIBAFI’s initiatives i... »

In an interview with CNBC Squawk Box, Ashraf Mohammed from the Asian Development Bank (ABD) explains why Islamic finance is growing more popular as an alternative to the conventional banking system. Topics discussed included terrorist financing, and the growing importance of Islamic financing across Asia particularly for infrastructure funding in non-Muslim majority countries. »

Report by Malaysia International Islamic Financial Centre Islamic Funds: Gearing Up The global Islamic funds industry is poised for growth witnessing greater demand for Shariah-compliant investment, supported by increasing range of Islamic financial assets available in the market. As at end 1Q2017, the total global Islamic assets under management (AuM) were USD70.8 billion and the number of Islami... »

Outstanding Islamic Debt Securities Approching Conventional Debt Malaysia is a world leader and standard-setter in Islamic finance. In recent years, the government increased the use of Islamic debt instruments for funding purposes. In April 2016, the government issued its fifth dollar-denominated sovereign sukuk (Malaysia 2026, and Malaysia 2046) for US$1.5 billion using nonphysical assets as coll... »

Boeing Exporing Islamic Finance Opportunities Boeing Capital is exploring opportunities for Islamic finance in the aviation sector and the possibility of including aircraft finance in the Islamic sukuk market, in which an aircraft finance portfolio would be secured by an instrument known as the Enhanced Equipment Trust Certificate. Boeing Capital in the Middle East As a wholly owned Boeing subsidi... »