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IFN Alerts: Saudi Aramco wins prestigious IFN Overall Deal of the Year 2021
award with landmark US$6 billion Sukuk 

 

 

Wednesday, 26th January 2022





S&P 500 Shariah 4,224.72 ▼1.69% -72.55

FTSE Shariah All World 3,343.79 ▼0.66% -22.20


DAILY COVER STORY

Saudi Aramco wins prestigious IFN Overall Deal of the Year 2021 award with
landmark US$6 billion Sukuk

GLOBAL: In a stunning race for the most coveted IFN Overall Deal of the Year
2021 award, Saudi Aramco has emerged triumphant, winning the prestigious title
with its landmark US$6 billion Sukuk.
Read more...

 

 




IFN CORRESPONDENT REPORT




RETAIL SUKUK IN MALAYSIA: THE MARKET’S NEXT GROWTH CATALYST?

Siew Suet Ming
Chief rating officer at RAM Ratings


IFN MONTHLY REVIEW




DECEMBER – STARTING 2022 STRONG

The year 2022 seems to be off to a good start as 2021 wraps up on a strong note,
preparing the new year for a flurry of new activities and developments. IFN
reviews key highlights setting this scene...




CASE STUDY




AL RAJHI BANK’S SUKUK: RECORD DEMAND

Islamic banking giant Al Rajhi Bank debuted in the Islamic capital market with
the issuance of a Saudi riyal-denominated Tier 1 Sukuk paper worth SAR6.5
billion (US$1.73 billion),..


WEEKLY COVER STORY




IFN DEALS OF THE YEAR 2021 ANNOUNCED

As we leave 2021 behind, two or three big issues are affecting the market. One
is the widening implementation of AAOIFI Shariah Standard 59. Some of the rating
agencies feel that this will affect the Sukuk and syndication markets going
forward...




GOVERNANCE AND CARBON TRANSITION ARE MAIN ESG CHALLENGES FOR GCC INSURERS

Insurers in the Gulf Cooperation Council (GCC) countries, like their peers
globally, face a range of evolving environmental, social and governance (ESG)...


SECTOR FACES GREATER ASSET RISKS WITH WEAKER LOSS BUFFERS THAN CONVENTIONAL
PEERS

The latest Financial Stability Review published by the Bangladesh Bank in August
2021 shows that Islamic banks' asset quality improved in 2021 despite the
coronavirus pandemic, as that of conventional banks...




IFN PODCAST




NIGERIA'S SUKUK MARKET GEARS UP FOR 2022

Dr Akeem Oyewale
CEO, Marble Capital


IFN TV




THE ISLAMIC ECONOMY: IMPROVING LIVELIHOODS AND CREATING PROSPERITY

IFN Asia Forum 2021

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TODAY'S NEWS



MOROCCO: Morocco releases circular on harmonization of tax treatment for Takaful
and re-Takaful operations with conventional counterparts

ALGERIA: Societe Generale Assurance Mediterranneene to launch first General
Takaful products in early April

GERMANY: Caizcoin to launch decentralized private blockchain CaizChain in the
first quarter of 2022

GLOBAL: Joint Italian Arab Chamber of Commerce and Bahrain Association of Banks
explore Islamic investments and Islamic finance in Italy

UAE: Ajman Bank signs AED152 million (US$41.38 million) financing agreement with
Arada for two projects

SAUDI ARABIA: Capital Market Authority of Saudi Arabia grants license to Forsah
Capital





GLOBAL: Jadwa Investment divests stake in United Eastern Medical Services to
Mubadala Health

UAE: Rain secures in-principle approval for financial services permission from
Abu Dhabi Global Market

SAUDI ARABIA: Al Rajhi REIT Fund secures Islamic financing facility worth SAR600
million (US$159.78 million) from Al Rajhi Bank

GLOBAL: AlKhair Capital partners with KLAIM Holdings to launch Islamic
investment products to support healthcare service providers

MALAYSIA: Al Rajhi Bank Malaysia picks Thought Machine to power digital bank

GLOBAL: Barwa Real Estate Company to sell 24.4% shareholding in Al Imtiaz
Investment Group





MALAYSIA: Bank Negara Malaysia issues two Islamic liquidity management papers

KUWAIT: Central Bank of Kuwait auctions bonds and related Tawarruq papers
totaling KWD200 million (US$660.03 million)

INDONESIA: Indonesia raises IDR11 trillion (US$766.39 million) from Sukuk
auction

MALAYSIA: Tenaga Nasional places Murabahah- and Wakalah-based Islamic commercial
paper worth RM500 million (US$119.29 million)

AUSTRALIA: Saira Cader joins Crescent Wealth as head of risk and compliance

OMAN: Ahli Islamic launches mortgage-free auto finance facility





TURKEY: Ministry of Treasury and Finance of Turkey issues TRY13.33 billion
(US$986.17 million)-worth of CPI-indexed lease certificates

KUWAIT: Moody’s completes periodic review of KFH Takaful Insurance Company’s
‘Baa2’ insurance financial strength rating

MALAYSIA: Petron Malaysia Refining & Marketing appoints Lembaga Tabung Haji’s
former CEO, Nik Mohd Hasyudeen Yusoff, as independent non-executive director

OMAN: Alizz Islamic Bank restructures Bushra Savings Account in compliance with
central bank’s decision to withdraw prize scheme linked saving deposit schemes

KUWAIT: S&P Global affirms Boubyan Bank’s rating at ‘A-/Stable’

UAE: Moody’s concludes review on Damaan Islamic Insurance Company’s ratings




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