ITFC Launches Standalone LC Confirmation Facility to Support Private Sector and SMEs to Boost Intra-Islamic Trade as Egypt Signs US$1.1bn Trade Finance Programme with Corporation

The International Islamic Trade Finance Corporation (ITFC), the trade fund of the Islamic Development Bank (IsDB) Group, continues to consolidate its financing activities in Africa and with the private sector…

Continue ReadingITFC Launches Standalone LC Confirmation Facility to Support Private Sector and SMEs to Boost Intra-Islamic Trade as Egypt Signs US$1.1bn Trade Finance Programme with Corporation

Saudi Central Bank Introduces Two Documents Aimed at Regulating Crowdfunding Platforms and Activity in the Kingdom

The Saudi Central Bank (SAMA) introduced two official documents in December 2020 aimed at regulating Crowdfunding platforms and activity in the Kingdom. The documents include Rules for Engaging in Debt-Based…

Continue ReadingSaudi Central Bank Introduces Two Documents Aimed at Regulating Crowdfunding Platforms and Activity in the Kingdom

Bank Negara Malaysia Pioneers Comprehensive and Robust Licensing Framework for Islamic Digital Banks

Malaysia inched forward to licensing the first digital banks (DGs) in the Islamic Development Bank (IsDB) member countries, when Bank Negara Malaysia (BNM) issued a Policy Document on Licensing Framework…

Continue ReadingBank Negara Malaysia Pioneers Comprehensive and Robust Licensing Framework for Islamic Digital Banks

Bank of England Rolls Out Alternative Liquidity Facility for Islamic Banks after Long and Comprehensive Process of Consultation and Development

The supervision and regulation of Islamic financial institutions (IFIs), especially in non-traditional markets, took a major step forward as the Bank of England rolls out its pioneering Alternative Liquidity Facility…

Continue ReadingBank of England Rolls Out Alternative Liquidity Facility for Islamic Banks after Long and Comprehensive Process of Consultation and Development

Islamic Finance Industry Mourns the Passing of Internationally Respected Shariah Scholar and Advisory Sheikh Dr Abdul Sattar Abu Ghuddah

The global Islamic finance industry lost another pioneer in internationally respected Sharia’a scholar and advisor Dr Abdul Sattar Abu Ghuddah, who passed away aged 80 on Friday 23 October 2020…

Continue ReadingIslamic Finance Industry Mourns the Passing of Internationally Respected Shariah Scholar and Advisory Sheikh Dr Abdul Sattar Abu Ghuddah

Malaysian Finance Minister Hands Out Spate of Tax Incentives to Islamic Finance Sector in Budget 2021 to Mitigate COVID-19 and to Push the Country’s Sustainability and SRI Agenda

Malaysian Finance Minister Tengku Zafrul Tengku Abdul Aziz continued the tradition of government support for the Islamic finance sector in his National Budget 2021 presented to parliament on 6 November…

Continue ReadingMalaysian Finance Minister Hands Out Spate of Tax Incentives to Islamic Finance Sector in Budget 2021 to Mitigate COVID-19 and to Push the Country’s Sustainability and SRI Agenda