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Islamic Finance


ISLAMIC FINANCE WRAP: AEON BANK RECEIVES NOD TO LAUNCH DIGITAL BANKING OPS 

BY STAFF WRITER

16 Jan 2024
News
Salaam Gateway

--------------------------------------------------------------------------------

Share



Here's a roundup of key developments across the Islamic finance ecosystem during
the first two weeks of January. 

Editor's note: Digital has been the buzzword for some time now and the momentum
refuses to dissipate, giving lenders across the world valid reason to cash in.

UAE's Emirates Islamic launched a Shariah-compliant trading platform via its
app, AEON Bank became the first Malaysian Islamic digital lender to launch
digital banking ops, while the Islamic Development Bank Institute initiated the
development of a digital marketplace. 


 


COMPANY NEWS

--------------------------------------------------------------------------------

UAE
Emirates Islamic launches digital wealth offering, equity trading on mobile app
Emirates Islamic has introduced a Shariah-compliant digital wealth and equity
trading platform accessible through its EI+ mobile banking app.

This platform enables customers to efficiently manage their investments by
engaging in Shariah-compliant equities trading in both local and international
markets. (Ibis Intelligence)

Malaysia
Malaysia’s AEON Bank receives nod to launch digital banking operations 
AEON Bank Berhad has secured an approval from Bank Negara Malaysia and the
Minister of Finance to commence its digital banking operations in Malaysia.

Formerly known as ACS Digital Berhad, the lender secured the bid for a digital
banking license, making AEON Bank the first Islamic digital bank in Malaysia to
gain approval under the new digital banking framework. (Fintech News)

Saudi Arabia
IsDB Institute begins developing digital marketplace
The Islamic Development Bank Institute (IsDBI) has initiated the development of
the Islamic Finance Knowledge Pavilion Marketplace.

This digital marketplace will serve as a platform for validated solution
providers, including institutions, consultants, and experts in Islamic finance
and economic development. (Arab News)

Pakistan
First Islamic microfinance branch launched
Meezan Bank and SAFCO Microfinance Company Private Limited (SMCL) have
inaugurated Pakistan's first Islamic microfinance branch in Hyderabad.

Branded as 'Yaqeen,' the branch will provide Shariah-compliant microfinance
services to low-income and marginalized segments of society. This initiative
aims to promote financial inclusion and social welfare in alignment with Islamic
principles. (The News)

 


TRADE DEVELOPMENTS

--------------------------------------------------------------------------------

Pakistan
Ahli Islamic signs landmark MoU with AAOIFI
Ahli Islamic has signed a Memorandum of Understanding (MoU) with the Accounting
and Auditing Organization for Islamic Financial Institutions (AAOIFI), to
strengthen collaboration in capacity building.

The agreement aims to support the growth of the Islamic finance sector in Oman.
The MoU was signed during the AAOIFI-IsDB 18th Annual Islamic Banking and
Finance Conference. (Pakistan Observer)

 


ESG DEVELOPMENTS

--------------------------------------------------------------------------------

Qatar
QIIB sets out a sustainable finance framework.
Qatar International Islamic Bank (QIIB) unveils its first sustainable finance
framework, detailing principles for long and short-term environmental, social,
and sustainability objectives.

The Doha-based bank aims to issue green, social, or sustainability-labelled
sukuk and other financing products, adhering to the International Capital Market
Association's green, social, and sustainability bond guidelines. (The Asset)

Malaysia
Bank Islam introduces Ihsan Sustainability Investment Account to deliver
positive impact through social finance.
Bank Islam Malaysia Bhd launches the Ihsan Sustainability Investment Account
(ISIA), aiming to generate positive social and environmental impact through
social finance.

The ISIA is tailored for clients seeking stable short-term investments,
providing a secure option amid uncertainties related to equities and
fixed-income investments. (Malay Mail)

--------------------------------------------------------------------------------



--------------------------------------------------------------------------------

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19 Jan 2024

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24 Feb 2024

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25 Jan 2024

--------------------------------------------------------------------------------

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Islamic finance wrap: AEON Bank receives nod to launch digital banking ops 
16 Jan 2024
Here's a roundup of key developments across the Islamic finance ecosystem during
the first two weeks of January.  Editor's note: Digital has been the buzzword..
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