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THIS WEEK'S ISSUE 22nd APRIL
Volume 12 Issue 16
Cover Story : Infrastructure Sukuk on the up
Editor's Note : Tools of the trade
Rapids
Features
  Islamic banking in Oman — two years on, the
     industry keeps growing

  Oman’s meteoric rise
  Update on the regulation of derivatives in Canada
  Effects of Islamic derivatives on the strategic
     positioning of Islamic banking

  Islamic hedging and the role of IIFM
IFN Reports
  Albaraka Turk’s syndicated Murabahah financing
     facility

  Malaysia taps international legal expertise to boost
     Islamic finance market

  GCC players likely to hold off Sukuk plans until the
     second half, says RAM

  Shariah investors look to the UK’s student housing
     sector

  World’s largest Takaful market sees improvement
     but obstacles remain

  Sovereign Sukuk: Two issues and a mandate
  IFN Global Trendswatch
  IFN Weekly Poll: Can large international
     ‘non-Muslim’ conventional banks still play a role in
     Islamic retail banking?
Case Study : World’s first export credit agency-guaranteed Sukuk: Emirates Airline
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  

Cover Story

Infrastructure Sukuk on the up


Editor's Note

Tools of the trade



IFN Reports

IFN Global Trendswatch


Islamic Development Bank

What’s been going on in the world this week? LAUREN MCAUGHTRY brings you an update of the most significant economic, regional and global events, issues and trends that have the potential to affect the Islamic finance industry...

IFN Weekly Poll: Can large international ‘non-Muslim’ conventional banks still play a role in Islamic retail banking?

On the back of the industry’s gradually increasing market share, IFN this week asks market constituents if international ‘non-Muslim’ conventional banks can or perhaps should still play a role in Islamic retail banking. NABILAH ANNUAR reports... more...

Albaraka Turk’s syndicated Murabahah financing facility

Malaysia taps international legal expertise to boost Islamic finance market

GCC players likely to hold off Sukuk plans until the second half, says RAM

Shariah investors look to the UK’s student housing sector

World’s largest Takaful market sees improvement but obstacles remain

Sovereign Sukuk: Two issues and a mandate


IFN Country Analysis

Nigeria: Africa’s Islamic finance giant?


IFN Sector Analysis

Derivatives and hedging: Derivatives and hedging in Islamic finance


Shariah Pronouncement

Shariah guidance is sought if the Islamic bank is allowed to charge a fee in case of issuance of a letter of credit (LC), whether the goods under the LC are to be financed by the Islamic bank or the customer shall pay cash for them


IFN Country Correspondents

Afghanistan: Islamic finance not far off

Brazil continues efforts to attract foreign investment

UK backing for Islamic bonds: A model for India


IFN Sector Correspondents

Cross-border distribution — A key concern for Islamic funds

Islamic syndication market starts to gather pace at long last


Special Reports

Shariah compliant innovative products: Factoring and its mechanism

The use and abuse of limited liability: A Shariah perspective

The unique risk exposures of Islamic banks’ capital buffers: A dynamic panel data analysis


Case Study

World’s first export credit agency-guaranteed Sukuk: Emirates Airline


Features

Islamic banking in Oman — two years on, the industry keeps growing

Oman’s meteoric rise

Update on the regulation of derivatives in Canada

Effects of Islamic derivatives on the strategic positioning of Islamic banking

Islamic hedging and the role of IIFM

IFN Weekly Poll

With Russia developing and promoting its Islamic finance capabilities, would you consider investing in Shariah compliant products in Russia while sanctions are in place?
Yes
No

If there are specific questions or issues that you’d like to feature, feel free to send your queries to news@redmoneygroup.com or nabilah.annuar@redmoneygroup.com

DIFC Seminars
Thursday,
23rd April 2015

Indonesian opportunities abound, but structural challenges remain a barrier

Bahrain Bourse to launch Islamic real estate investment trusts next month

Noor Bank prices debut benchmark dollar Sukuk at 2.79%

Bank Islam Malaysia raises RM300 million (US$82.48 million) through Tier 2 Sukuk Murabahah

Malaysia to create world’s largest Shariah fund by 2017 via Employees Provident Fund; also approves first Malaysian SRI Sukuk program

Maybank Islamic’s Mudarabah investment account to take effect in June

GFH Capital invests TRY90 million (US$33.39 million) in Turkish real estate; expects over 20% in return

Tamkeen and Bahrain Development Bank expand joint Shariah compliant enterprise finance portfolio by BHD20 million (US$52.73 million)

Allegations against Noble bears no immediate impact on its credit profile; Sukuk Murabahah program still rated ‘AA2’

Emirates Islamic rounds up first quarter with 106% increase in net profit

United Arab Bank posts net profit of AED161 million (US$43.82 million) in the first three months of the year

KASB Modaraba agrees to distribute EFU Life’s Family Takaful products

Malaysian Re enters Shariah space; plans to establish re-Takaful arm

Qatar International Islamic Bank generates QAR212.3 million (US$58.26 million) in net profit in the first quarter

Securities Commission Malaysia to introduce Islamic fund and wealth management industry blueprint this year

KFH Malaysia appoints Ahmed Alkharji as CEO and managing director
Wednesday,
22nd April 2015

First quarter Islamic banking figures looking good

Noor Bank tightens price guidance for its benchmark-size Sukuk offering

Indonesia to create centralized Islamic financial center inspired by Malaysia’s experience; also exploring Islamic repos

RHB Capital restructuring proactive given changing regulatory environment, says RAM

Standard Chartered to maintain 45% stake in Bank Permata

Al Yusr Islamic Banking approves new products at inaugural supervisory board meeting

Warba Bank launches new commodity trading platform for Islamic retail clients

Malaysia’s global Sukuk gains definitive ‘A3’ rating from Moody’s

Indonesia’s Sukuk auction exceeds target; receives IDR4.73 trillion (US$361.43 million) in incoming bids

Pakistan relaxes rules on real estate investment trusts in a bid to boost the market

Impian Bebas secures syndicated Islamic term financing worth RM1.08 billion (US$296.92 million)

Warba Bank designs new three-year strategy to capitalize on growth momentum
Wednesday,
22nd April 2015

First quarter Islamic banking figures looking good

Indonesia to create centralized Islamic financial center inspired by Malaysia’s experience; also exploring Islamic repos

RHB Capital restructuring proactive given changing regulatory environment, says RAM

Standard Chartered to maintain 45% stake in Bank Permata

Al Yusr Islamic Banking approves new products at inaugural supervisory board meeting

Warba Bank launches new commodity trading platform for Islamic retail clients

Malaysia’s global Sukuk gains definitive ‘A3’ rating from Moody’s

Indonesia’s Sukuk auction exceeds target; receives IDR4.73 trillion (US$361.43 million) in incoming bids

Pakistan relaxes rules on real estate investment trusts in a bid to boost the market

Impian Bebas secures syndicated Islamic term financing worth RM1.08 billion (US$296.92 million)

Warba Bank designs new three-year strategy to capitalize on growth momentum
Tuesday,
21st April 2015

World’s largest Takaful market sees improvement but obstacles remain

Efinite Structure seeks Sukukholders' consent for the modification of provisions in trust deed

National Fatwa Committee is neutral on Malaysia’s implementation of Goods and Services Tax

Dubai implements initiatives to boost its status as global capital of the Islamic economy

MetLife AIG ANB Cooperative Insurance Company suffers SAR7.87 million (US$2.09 million) in losses for first quarter

Ongoing regulatory developments will boost the Malaysian insurance and Takaful industry, says Fitch

Lloyd’s of London eyes Takaful market; in talks with Malaysian regulators

Tadawul takes action against Solidarity Takaful Co as accumulated losses exceed 50% of capital

Saudi British Bank supports IFN Saudi Forum 2015 as lead partner

Amlak Finance appoints new board of directors

European Islamic Investment Bank issues tender offer to purchase up to eight million shares

Amlak Finance begins process to resume trading of shares

Gulf Finance House reduces paid-up capital by 60%; confirms delisting from London Stock Exchange

IFSB’s issues guidance note on Islamic liquidity risk management

Moody’s assigns credit ratings to Barwa Bank for the first time
Monday,
20th April 2015

Shariah investors look to the UK’s student housing sector

Arab Monetary Fund and World Bank Group join hands to facilitate access to Islamic finance in the MENA region

RAM maintains Tanjung Bin Energy’s Sukuk rating at ‘AA3/Stable’

Capital Intelligence affirms ‘omBBB+’ rating on Tilal Development Co’s Sukuk

Qatar International Islamic Bank takes on lead partner role for regulator-backed IFN Qatar Forum 2015

New Modaraba fund joins Pakistan's non-banking financial sector

Al Khaleej Takaful posts net profit of QAR24.5 million (US$6.72 million) for first quarter

Islamic deposits drive Mashreq’s customer deposit base up by 3.9% in the first three months of 2015

Luxembourg to cooperate with Oman for Islamic finance
Friday,
17th April 2015

IFN weekly market roundup: 11th-17th April 2015

Al Bayan Group Holding Company to make Sukuk profit payment on the 24th April

KPJ Healthcare issues its first series of Islamic medium-term notes for an aggregate nominal value of RM800 million (US$218.89 million)

Jordanian Ministry of Finance mandates Islamic Corporation for the Development of the Private Sector for debut sovereign Sukuk offering

Islamic Financial Services Board to discuss new Standard on Core Principles for Islamic Finance Regulation in upcoming annual summit in Almaty

Kuwait Finance House generates KWD29.9 million (US$98.88 million) in net profit for the first quarter of 2015

IDB may base infrastructure funding outfit in Indonesia

AM Best strengthens presence in Asia Pacific; sets up office in Singapore

Bank Nizwa manages to cut losses in the first quarter

Takaful Oman Insurance makes OMR640,023 (US$1.66 million) in the first three months of 2015
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