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null EPICENTRE February 2021: Global sukuk hits new record; Malaysia remains as the lead

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EPICENTRE February 2021: Global sukuk hits new record; Malaysia remains as the lead
Global sukuk hits new record; Malaysia remains as the lead

The global sukuk market hits a new record, with a total sukuk issuance of USD174.2 billion (2019: USD157.8), while the global sukuk outstanding stood at USD572.6 billion. Malaysia remains the leader in the global sukuk market for year 2020, commanding the largest market share of total global sukuk outstanding.

Download the infographic to view the factsheet on 2020 global sukuk market.

2020 also saw Malaysia retaining its position as the most developed Islamic finance country in the world, according to the Islamic Finance Development Report 2020. Malaysia is also classified as a developed Islamic finance market by Fitch Ratings as the Islamic banking in the jurisdiction has achieved systemic importance and mainstream relevance.

Get more information on the global sukuk and Islamic finance development in the newsletter.


The MIFC Team
Download infographic
News

Sukuk Outlook 2021
Malaysia’s sukuk market issuances are expected to fall in 2021 as the uncertainty caused by the pandemic has led companies to be more cautious, according to RAM Rating Services. However, it is also foreseen by iFAST Capital that Bank Negara Malaysia to remain accommodative in its monetary policy and keep interest rates low in 2021, which would in turn encourages firms to tap the capital markets for fresh funds to pick up on the back of continuation of existing and new large infrastructure projects earmarked by the government.
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Article

Malaysia's first digital sukuk
Sukuk Prihatin was launched as a call for national solidarity to support the Government’s recovery effort and each other by funding targeted economic relief measures. Funds raised will be used to enhance connectivity in rural schools, finance eligible micro enterprises and research grants for infectious diseases.
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Press Release

SC expands Green SRI Sukuk Grant Scheme
The Securities Commission Malaysia (SC) expanded its Green SRI Sukuk Grant Scheme to encourage more companies to finance green, social and sustainability projects through Sustainable and Responsible Investment (SRI) sukuk and bonds issuance.
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Press Release

Malaysia leads the Islamic finance development globally
Malaysia remains as the most developed Islamic finance country in the world as it continues to further improve its overall Islamic finance system, according to the Islamic Finance Development Report 2020.
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News

Malaysia as developed Islamic finance market - Fitch Ratings
Fitch classified selected Islamic finance markets into 5 categories based on awareness and penetration level of Islamic finance. Malaysia is classified as a developed Islamic finance market whereby the Islamic banking in the jurisdiction has achieved systemic importance and mainstream relevance, especially at the sovereign level. 
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News

AIBIM leads the development of Malaysian Schedule for ISDA/IIFM Tahawwut Master Agreement
The Malaysian Schedule to the ISDA/IIFM Tahawwut Master Agreement (Malaysian Schedule) was developed, as an option for Islamic banks to partake in Islamic derivatives and hedging transactions through a framework agreement that is governed by Malaysian laws. 
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News

MDEC  and iPORTAL Live launch Global Knowledge Platform for Islamic Economy
The Malaysia Digital Economy Corporation (MDEC) and iPORTAL Live launched a new Islamic Economy Knowledge Portal that will enhance ease-of-access to information and knowledge of the Islamic economy to users, as well as facilitate connection and encourage collaboration by industry users dispersed globally.
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Report

Malaysia Islamic fintech 2020/2021
Malaysia’s robust regulatory environment, comprehensive Fintech landscape, supportive Islamic finance community and the government’s commitment to champion the Islamic economy, has already paved the way for Malaysia to be a global Islamic Fintech hub.
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News

Official Recognition for INCEIF Academic in Morocco
INCEIF's MSc in Islamic Finance degree received recognition from the Ministry of Higher Education Morocco which will add value to the postgraduate qualification and enhance its credibility internationally for INCEIF Moroccan graduates and future potential students from the Kingdom of Morocco. 
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News

AAOIFI standards now free online
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has made all its standards available for free online.
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News

ITFC launches LC confirmation facility
The International Islamic Trade Finance Corporation (ITFC) launched its new standalone LC Confirmation instrument. The instrument is open to SMEs in IsDB member countries.
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View booklet here
Islamic Finance Dashboard
Upcoming Events

Fundamentals of Islamic banking
Date: 16 - 18 February 2021

Development of financial planning industry in Malaysia
Date: 18 February 2021

Contemporary takaful business
Date: 22 February 2021

Fundamentals of Islamic financial planning
Date: 24 February 2021

Takaful products
Date: 25 February 2021
 
Global News on Islamic Finance
  1. Tunisia to issue first USD111mln sukuk with bonds up to USD3bln this year
  2. Government of Pakistan to launch Sukuk
  3. Turkey: Participation finance department established under the presidency
  4. Indonesia's largest Islamic bank starts operations
  5. Bank of England set to open alternative liquidity facility to support UK Islamic banks
  6. Central Bank of Oman launches Fintech Regulatory Sandbox
  7. Bahrain central bank announces launch of eKYC
  8. Oman: New regulation ensures financial sustainability for insurance and takaful companies
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