Despite the economic headwinds, Sukuk performance for 2018 is looking positive, with Moody’s Investors Service in the third quarter (Q3) predicting global issuance to break the US$100 billion barrier, well in line with 2017 levels despite a challenging year for global markets.
In November, the International Islamic Liquidity Management Corporation (IILM) successfully closed its 2018 issuances with a final three-month short-term Sukuk transaction amounting to US$600 million – achieving a tight profit rate of 2.83% and a substantial orderbook of US$1.62 billion, with a
The onset of digital banking has transformed financial access, and nowhere is this more important than underserved Islamic markets struggling with financial inclusion. This month, we take a look at how Shariah compliant institutions in Indonesia are leveraging digital techniques to improve
Regulatory authorities around the world have been updating their legislation to encourage Shariah compliant consumer and corporate lending, as increasing numbers of Muslim-majority jurisdictions recognize the importance of encouraging access to Islamic financing channels to promote economic and corporate growth. Pakistan breaks
The second Sukuk issuance from environmentally-friendly property developer EcoWorld demonstrates the growing appeal of the Islamic debt capital market for companies seeking to raise finance for overseas expansion on a socially responsibly basis – without compromising on price or profit. In October,
CORPORATE ALPHA CIRCLE ISSUES IMTN MALAYSIA: Alpha Circle has floated an Islamic medium-term note (IMTN) for RM63 million (US$15.04 million) with a profit rate of 5%. The IMTN, which will mature on the 21st November 2019, was arranged by RHB Investment Bank.