SAUDI ARABIA: Arabian Shield Cooperative Insurance Company’s extraordinary general meeting approves capital increase via bonus shares
IRAN: The US withdrawal from Iran nuclear deal increases geopolitical risk for Middle Eastern countries, says Moody’s
GLOBAL: NASDAQ Dubai to roll out equity futures on companies listed in Saudi Arabia
INDIA: Indian High Court extends time frame for authorities to respond to public interest litigation on the introduction of Islamic banking
MALAYSIA: CIMB Islamic Trustee divests shares in Eduspec Holdings
SAUDI ARABIA: Amanah Cooperative Insurance Company welcomes new vice-chairman of board of directors
SAUDI ARABIA: Merger between Alawwal Bank and Saudi British Bank to take a year, says Alawwal chairman
BANGLADESH: Shahjalal Islami Bank Securities withdraws two authorized representatives
KAZAKHSTAN: WIEF Foundation postpones World Islamic Economic Forum 2018; no new dates given
SAUDI ARABIA: Al Sagr Cooperative Insurance Company gets Capital Market Authority’s nod to increase capital to SAR400 million (US$106.6 million)
IRAN: Bank of Industry and Mine and Vnesheconombank sign EUR1.2 billion (US$1.41 billion) contract
MALAYSIA: Ali Allawala takes over as CEO of Standard Chartered Saadiq Malaysia
MALAYSIA: Malaysian Rating Corporation names Kan Wai Sum as CEO
GLOBAL: Emirates NBD acquires Turkey’s Denizbank
UK: KDM Hurst Street and KDM Tabley Street secure Islamic financing from Bank of London and The Middle East for development in Liverpool
MALAYSIA: Bank Negara Malaysia permits Kenanga Investment Bank to begin acquisition negotiations with Interpac Securities
BANGLADESH: Bangladesh Bank sells six-month Bangladesh Government Islami Investment Bond
MALAYSIA: Bank Negara Malaysia raises RM13.98 billion (US$3.52 billion) via sale of five money market instruments
INDONESIA: Indonesian government auctions six Islamic papers; receives IDR31.48 trillion (US$2.22 billion) in bids
MALDIVES: Maldives Monetary Authority issues two Mudarabah certificates worth a total of MVR170 million (US$10.78 million)
SAUDI ARABIA: Saudi Arabia’s stock exchange introduces new opening and closing price mechanism
BAHRAIN: Bank ABC Islamic records 28.13% increase in net profit for first quarter of 2018
OMAN: Ahli Bank appoints Said Al Hatmi as new CEO
PAKISTAN: State Bank of Pakistan renews status of JCR-VIS Credit Rating Company and Pakistan Credit Rating Agency as recognized external credit assessment institutions for 2018
MALAYSIA: Projek Lebuhraya Usahasama’s Sukuk Musharakah program affirmed at ‘AAAIS’
QATAR: Barwa Bank provides six-year medium-term revolving credit facility to Vodafone Qatar
UAE: Kuwait Finance House to establish US$3 billion Sukuk program; receives provisional rating of ‘(P)A1’
GLOBAL: Investors from the US and Europe in talks with Noor Financial Investment to buy a combined 9.59% stake in Meezan Bank
JORDAN: Jordan Islamic Bank plans to issue and list Sukuk
MALAYSIA: Bank Negara Malaysia floats three liquidity management instruments totaling RM9.88 billion (US$2.48 billion)
GAMBIA: Gambia’s three-month and six-month Sukuk papers oversubscribed; one-year paper sells below target
UAE: Dubai Aerospace Enterprise signs four-year unsecured revolving credit facility which includes Islamic tranches
SRI LANKA: Amana Bank collaborates with mCash to bring easier payment solution to customers
UAE: Amlak Finance appoints chairman and vice-chairman of its board of directors; welcomes new managing director
PAKISTAN: Bank Al Falah elects nine directors to its board
BAHRAIN: Central Bank of Bahrain’s Sukuk Salam fully subscribed
MALAYSIA: Cagamas raises a total of RM1.81 billion (US$454.71 million) via issuance of Islamic medium-term notes and Islamic commercial papers
BRUNEI: RAM reaffirms Brunei’s global and ASEAN-scale ratings
UAE: Mashreq Capital’s investment manager quality assessment falls one notch to MQ2
IRAQ: Central Bank of Iraq denounces relationship with Al Bilad Islamic Bank for Investment and Finance following US Treasury sanctions
MALAYSIA: Malaysian government’s intention to abolish highway tolls will impact Sukuk and bond market
INDONESIA: Indonesian Stock Exchange launches new Islamic index
SAUDI ARABIA: United Cooperative Assurance Company to seek approval for the appointment of Ahmed Tarek Abdul Rahman Murad as independent board member
INDONESIA: Indonesian Islamic banks to enhance Hajj services
SAUDI ARABIA: Saudi Takaful firms announce reduction in capital
MALAYSIA: Bank Negara Malaysia prints three Money Market Tender Qard papers
MALAYSIA: Sabah Credit Corporation floats RM60 million (US$15.08 million) Islamic commercial paper
MALAYSIA: Sunway Treasury’s 315th Islamic commercial paper oversubscribed more than thrice
BAHRAIN: GFH receives US$22.5 million in cash as part of legal claim settlement
MALAYSIA: Adissadikin Ali now president of Association of Islamic Banking and Financial Institutions Malaysia