The world’s first Sharia compliant cryptocurrency Islamic Coin is set to launch next month
Sharia-compliant
Latest in Sharia-compliant
family businesses
Most high net worths in Middle East don’t have a wealth succession plan for family business
An exclusive survey by Lombard Odier also finds the overwhelming majority intend to keep their wealth in the region for the foreseeable future
crypto assets
Crypto startup plans Sharia-compliant use of digital assets for expansion into the Islamic world
Fasset has been working with prolific Islamic finance jurists and thought-leaders to educate the masses on how Muslims can interact with crypto in a Sharia-compliant manner, the co-founder and CEO said after closing a $22mn Series A funding
Commercial Bank of Dubai
ENBD REIT announces $200m debt refinancing deal
Shari’a compliant real estate investment trust agrees facility with Emirates NBD and Commercial Bank of Dubai
Emirates NBD Asset Management
ENBD REIT records 3% drop in net asset value
According to a statement released on Tuesday the decline, from $180m to $174m, was a result of ‘sustained valuation pressures’ and ‘softening real estate market conditions’
Emirates NBD Asset Management
ENBD REIT’s share value drops 17% from last year
Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited posts year-end results with company’s property portfolio standing at $360 million
Emirates REIT
Dubai property fund unmoved by renegade creditors in debt clash
Emirates REIT, whose portfolio ranges from schools to office space, has said it needs to improve its balance sheet after the global pandemic compounded a property slump in Dubai
Emirates REIT
Emirates REIT debt exchange offer rejected by group of creditors
Shariah-compliant real estate investment trust last week offered to exchange the unsecured sukuk securities due in 2022 for new secured notes maturing in 2024
Bank Nizwa
Oman cement giant secures $50m Islamic financing for expansion
Bank Nizwa signs agreement for Shari’a-compliant financing facilities with Raysut Cement Company
Equitativa Group
Investing in the future: Racha Alkhawaja, Equitativa Group
A veteran in financial services, the group chief distribution and development officer at Equitativa Group, Racha Alkhawaja oversees the largest Sharia compliant REIT in the world
Bank Nizwa
Oman’s OFIC secures $46m financing for new food projects
Bank Nizwa signs sharia-compliant financing agreement with Oman Food Investment Holding Co
ASA Ventures
Dubai firm plans sukuk tokens to invest in UAE real estate assets
ASA Ventures joins blockchain investment company IBC Group in plan to introduce sukuk tokens for property in the UAE and Portugal
cryptocurrencies
Global social trading network eToro launches Islamic accounts
eToro guarantees there is no form of Riba-based interest new Islamic accounts to ensure they conform to Islamic law
Sharia-compliant
Saudi’s Sidra buys student housing properties in the US
Financial services company says it has acquired a total of 2,058 beds across six US states
Bahrain Central Bank
Bahrain crypto exchange wins Shari’a compliance certificate
Rain announces graduation from the Central Bank of Bahrain’s Regulatory Sandbox, in process of applying for licence
Ayman Sejiny
Saudi Arabia’s ICD to introduce blockchain-based Islamic banking solutions
Islamic Corporation for the Development of the Private Sector’s agreement with Tunisia-based I-FinTech Solutions will focus on developing products designed to solve liquidity issues
Sharia-compliant
Conventional bank assets reach AED 2.26tr in UAE
There are currently 60 banks operating in the UAE