BAHRAIN: Khaleeji Commercial Bank records net profit of BHD5.71 million (US$15.02 million) for first half of 2020 fiscal year
US: UIF Corporation originates 121.1% more Shariah compliant financing in first half of 2020
UAE: Dubai Gold & Commodities Exchange partners with NASDAQ to enhance technological capabilities
INDONESIA: Indonesian government completes early redemption of Sukuk series ST005 totaling IDR17.59 billion (US$1.19 million)
UAE: DIFC FinTech Hive’s fourth cohort of accelerator program attracts 620 applications
KAZAKHSTAN: IsDB provides US$100 million to public–private partnership toll-road concession in Almaty
INDONESIA: Indonesia Stock Exchange launches Shariah capital market roadmap; corporate Sukuk activities year-to-date improve compared with 2019
PAKISTAN: State Bank of Pakistan raises microfinancing limits to promote affordable housing financing and SME financing through microfinance banks
MALAYSIA: Bank Negara Malaysia’s Shariah Advisory Council rules on restructuring practices of Islamic facilities due to COVID-19
INDONESIA: Eight Bank Mandiri branch offices in Aceh converted to Bank Mandiri Syariah
IRAN: Iranian petroleum ministry to launch Oil Refining Industries exchange-traded fund
MALAYSIA: Bank Negara Malaysia sells Islamic papers worth a total of RM13.96 billion (US$3.32 billion)
UAE: Mashreq Al Islami Income Fund surpasses US$150 million in assets under management
INDONESIA: Bank BJB Syariah launches service to accept Hajj savings deposits from customers
EGYPT: Banks in Egypt now authorized by central bank to own unlimited shares in payment system companies
INDONESIA: Aneka Gas Industri plans to issue Sukuk Ijarah worth up to IDR10 billion (US$678,821)
MALAYSIA: Widad Capital’s Sukuk Murabahah program receives rating upgrade from RAM
INDONESIA: Indonesian government develops Islamic boarding schools for Shariah financial and economic development ecosystem
KUWAIT: Kuwait’s Capital Markets Authority renews Collective Investment Scheme License of Regional Bond and Sukuk Investment Fund
SAUDI ARABIA: Amana Cooperative Insurance Company secures contract to provide services to Seder Group Trading & Contracting Company
UAE: Central Bank of the UAE announces additional measures within Targeted Economic Support Scheme
UAE: Central Bank of the UAE signs agreement with Arab Monetary Fund to include UAE dirham as settlement currency in multicurrency platform ‘Buna’
SAUDI ARABIA: Saudi Reinsurance Company signs reinsurance contract with Malath Insurance Company
GLOBAL: IsDB signs agreement with International Federation of Consulting Engineers to adopt latest practices in project and contract management
UK: Chartered Insurance Institute and Islamic Insurance Association of London work with University of Bolton to launch MBA in Islamic Finance
UK: Pension provider Options UK partners with Wahed Invest on Shariah compliant workplace pension
UZBEKISTAN: New IFN Correspondent for Uzbekistan is Hondamir Nusratkhujaev
MALAYSIA: RAM reaffirms Bank Muamalat Malaysia’s ‘A2/Stable/P1’ financial institution ratings
MALAYSIA: Moody’s assigns ‘A3’ long-term local and foreign currency issuer ratings to Cagamas
SAUDI ARABIA: Al Rajhi Banking & Investment Corporation opens candidacy for membership of board of directors
MALAYSIA: Bank Islam Malaysia contributes RM24,000 (US$5,727.92) to non-governmental organization via Sadaqa House crowdfunding platform
MALAYSIA: Maybank Islamic issues three Islamic commercial papers worth a total of RM1.5 billion (US$358 million)
MALAYSIA: Cagamas sells RM25 million (US$5.97 million) Islamic medium-term note
MALAYSIA: Bank Negara Malaysia issues three Shariah securities totaling RM12.96 billion (US$3.09 billion)
INDONESIA: Indonesian government set to issue retail Sukuk series SR013 along with conventional bonds
GLOBAL: IsDB contributes data to 2019 Joint Report on Multilateral Development Banks’ Climate Finance
SAUDI ARABIA: United Cooperative Insurance Company appoints Faisal Hussein Badran and Khaled Bakr Alam as independent board members
INDONESIA: United Nations Development Programme launches new partnership to support economic development in Indonesia
SAUDI ARABIA: Walaa Cooperative Insurance Company to provide multiple insurance coverage to Advanced Petrochemical Company
GLOBAL: Total worth of Islamic financial services industry increased 11.4% year-on-year to an estimated US$2.44 trillion in 2019, says IFSB
GLOBAL: Global Sukuk issuance in 2020 to be the second-highest issuance level for the market despite decline of 5% this year, says Moody’s
MALAYSIA: PENJANA Tourism Financing applications for MSMEs now open via participating member banks
INDONESIA: Islamic rural banks enter into agreement to manage Hajj funds and tackle liquidity
GLOBAL: UNESCO renews appointment of Dr Hayat Sindi as goodwill ambassador for another two years
UGANDA: Ugandan finance minister urges central bank to speed up implementation of Islamic banking
MALAYSIA: Gas Malaysia sells RM180 million (US$42.95 million) Islamic commercial paper
INDONESIA: Elnusa set to issue IDR700 billion (US$47.95 million) Sukuk Ijarah
MALAYSIA: Bank Negara Malaysia auctions Islamic facilities worth a total of RM15.87 billion (US$3.79 billion)
SAUDI ARABIA: Saudi Re for Cooperative Reinsurance Company posts 54.63% decrease in net profit before Zakat for the period ending the 30th June 2020