Saudi Arabia’s Debt Management Office has begun issuing $925 million government bonds through a new ‘primary dealer’ scheme designed to increase demand for the debt and widen the range of investors holding…
Global report on Islamic finance
The World Bank Group and the Islamic Development Bank published the first Global Report on Islamic Finance, which details the prospects for the global Islamic finance industry and its potential to help…
Sukuk (Islamic bond) issuance by Egypt
The Sharia-compliant issuance, either in dollar or euro-denominated Sukuk, which Finance Minister Mohamed Maait of Egypt hopes will happen in fiscal 2018-19 and would mark a revival of a plan shelved since…
Takaful (Islamic Insurance) growth in recent years
The net income of listed companies in the GCC Islamic (Takaful and Islamic cooperative Tawuni) insurance sector nearly halved in 2017 to $375 million, from $674 million in 2016, according to ratings…
Use of Tawarruq as liquidity creating tool
Conventional financial system has the capability of providing cash for those who want it, provided they are willing to give back more than they borrow and are able to provide a collateral…
Review of the conventional and existing operational business practices of the Islamic banks in Pakistan
A conventional bank gets money from the public as deposits and offers a large part of it as loans on interest and distributes the interest received on its loans amongst its account…
Rise of Green i.e sustainable and responsible investment (SRI) Sukuk
The green bond market started small sometime around 2007 and, at first, only attracted investors from the public institutions. However, the green bond industry took off in a big way from 2013…
An overview of Islamic financial industry in Pakistan
Pakistan has a fairly developed IF industry that is bank dominated. At present, the IF Industry of Pakistan consists of IBs, Islamic microfinance institutions, Sukuk, Modarabah companies, and Islamic funds, 22 Takaful…
Aligning Islamic finance with SME, Micro financing and Sustainable Development Goals (SDG)
The worth of worldwide Islamic financial assets leapt from half a million dollars in the 1970s to over one trillion USD by 2009. With an annual growth rate of around 14 per…
Islamic Long Term Financing Facility (ILTFF) under refinance facilities by SBP
Refinance facilities are targeted loans from State Bank of Pakistan (SBP) to support exports and industrial growth with the ultimate objective of promoting overall economic development of the country. Over the years,…