In collaboration with MUFG, Alimna Bank, Riyad Bank, and Siemens Bank, $480 million of green finance has been allocated for three independent sewage treatment plants (ISTP) in Saudi Arabia
Islamic Finance
Acciona Energia
Spain’s Acciona inks $480m green loans for Saudi sewage treatment plants
Company says three projects will treat the wastewater of up to two million residents and contribute to Vision 2030
Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank raises $160m for new sukuk fund
Fund offers investors an opportunity to invest in a portfolio of regional and international sukuk instruments
banking business
Russia’s largest bank eyes UAE capital for Islamic finance expansion
Sberbank is set to open its newest office in Abu Dhabi, with Islamic finance as the backbone of its business activity in the region
Bahrain
Standard Chartered to target Gulf halal markets with new $100m fund
Bank announces programme which aims to expand the Halal ecosystem in markets such as the UAE, Bahrain and Saudi Arabia
banking and finance
How Islamic banks are making their mark in the post-pandemic UAE
New research shows the gap between the penetration of conventional and Islamic banking products in the UAE has narrowed to just 1%
Islamic economy
Top British financier enters Bahrain to target Islamic tech space
Stella Cox CBE, head of DDCAP Group, says island kingdom is well placed for disruptive fintech and regulation building
Emirates Islamic
Emirates Islamic’s net profits reach $218.8m for first nine months of 2021
Bank’s total income was up 14 percent year-on-year and 43 percent from Q3 2020
financial institutions
How social responsibility is driving Islamic banking in Middle East, globally
Islamic banking is one of the fastest-growing financial industries, with total assets in excess of $2 trillion, which is expected to reach $3.8trn by 2023, says sector expert
Accounting and Auditing Organisation for Islamic Financial Institutions
Standardisation critical to the sustainable growth of Islamic finance
A unified global legal and regulatory framework could make the industry more attractive to new players
Alpen Capital
Why sukuk issuance is likely to drive Islamic finance growth
New research highlights the opportunities and challenges for Islamic finance in a post-pandemic era
Islamic Finance
Oman power giant Mazoon inks $235m Islamic financing deal
Mazoon Electricity Company says funds will be used to finance its capital expenditure plans for 2021
Islamic Finance
Sustainable finance goes hand in hand with Islamic investing
The goal to uphold one’s ethical values and promote social welfare through investment has some origins in Sharia law, and it is also reflected in today’s sustainable finance solutions
Islamic Development Bank
Nasdaq Dubai welcomes listing of $2.5bn sustainability sukuk
Islamic Development Bank’s latest listing takes sukuk total on Nasdaq Dubai to over $17bn
Islamic Finance
Gulf investors poised to snap up Britain’s new $687m sovereign sukuk
UK government’s second sukuk offering is more than double the size of the first issuance in 2014
fintech ecosystem
Islamic fintech is on the rise in Saudi Arabia, UAE and globally
Fintech transaction volume among OIC countries estimated at $49bn in 2020; Saudi Arabia and UAE lead
Britain Muslims
Why millennials are likely to drive growth in global Islamic finance
Young Muslims want to know that their money is doing good in the world, says Islamic finance expert