Sector - Islamic Finance
Kenya takes the lead: Islamic finance
With the growth in Kenya’s Islamic finance market picking up pace, it’s only a matter of time before the trade finance market starts to realise the opportunities. Shannon Manders reports.
Russian bank awarded Islamic funding
Russia’s Ak Bars Bank has brought in commercial and multilateral lenders to close a US$60mn syndicated Islamic financing.
Citi and the Islamic Corporation for the Development of the Private Sector both acted as lead arrangers and bookrunners on the deal, while the Eurasian Development Bank joined as a mandated lead arranger.
The one-year murabaha facility will be used for...
HSBC signs Islamic financing first
HSBC has signed a memorandum of understanding with International Islamic Trade Finance Corporation to facilitate shariah-compliant trade financing for ITFC’s customers.
Aktif Bank agrees two-step murabaha facility
Aktif Bank has won a US$10mn two-step murabaha financing facility from the International Islamic Trade Finance Corp, part of the Islamic Development Bank Group.
Aktif Bank tells GTR that the facility – one of the first two-step murabaha financings − will be utilised in trade finance-related transactions and will support intra-OIC (Organisation of the Islamic conference) trade.
The OIC is an Islamic inter-governmental organisation with a membership of...
Southeast Asia banks collaborate on Islamic TF
Malaysia’s Maybank Islamic has signed a memorandum of understanding with Indonesia’s Bank Syariah Mandiri to establish cross-border collaboration on Islamic treasury and trade finance matters.
AlBaraka Bank agrees murabaha facility
AlBaraka Banking Group has signed a US$20mn murabaha facility with International Islamic Trade Finance to support foreign trade.
The facility has a 12-month tenor and will be implemented through AlBaraka Islamic Bank Bahrain.
AlBaraka’s chief executive, Adnan Ahmed Yousif comments...
Islamic finance: Dragging its feet
onventional banks are becoming capital constrained for trade finance, the Middle East is opening up to more regional trade: Islamic trade finance should be enjoying a surge of interest. But why has the growth been relatively slow? Nick Lord reports.
Qatar's Quick Goodbye
The country’s central bank is rewriting the rules on Islamic finance and conventional banks are being shown the door, writes Mark Dunne.
New Islamic insurance broker launched
London’s Gatehouse Bank has teamed up with Lloyd’s insurance broker Paul Napier to form the first insurance broker to offer shariah-complaint coverage in London.
Africa and Mena get insurance partnership
The Islamic Development Bank’s credit insurance arm has signed a memorandum of understanding with an African agency to boost insurance availability across the continent.
GTR Best Deals 2010
GTR is pleased to announce the winners of our Best Deals 2010 competition.
Swift gets Islamic finance approval
Tech-firm Swift’s ISO 15022 message standards for treasury murabaha transactions have been certified compliant with international Islamic finance standards.
HSBC extends Islamic financing offering
HSBC has expanded its shariah-compliant products to Bahrain and Bangladesh.
Swift gets Islamic finance approval
Tech-firm Swift’s ISO 15022 message standards for treasury murabaha transactions have been certified compliant with international Islamic finance standards.
New law firm opens in Dubai
Shariah-compliant law firm Agha and Co has opened up a Dubai office.
