Global IF News
IsDB: Growing Demand for Halal Products Presents Investment Opportunities, Trade Potential
The Islamic Development Bank (IsDB) has highlighted the increasing demand for halal products and services, stating that this trend will create investment opportunities and promote the export and intra-trade of halal goods among member countries and Muslim communities. Datuk Amer Bukvic, the Ag. Director General Global Practices and Partnerships at Islamic Development Bank (IsDB), emphasized the significance of the halal industry during the IsDB annual meetings in Jeddah.
17 May 2023Read more
IMF to separate Islamic finance in SNA/BPM
The International Monetary Fund (IMF) plans to provide separate categories for Islamic finance in its next update to the System of National Accounts (SNA25) and Balance of Payments Manual (BPM7). This is a positive step in enhancing data quality, comparability and transparency, Fitch Ratings says.
06 Apr 2023Read more
IsDB to finance first phase of Egypt’s high-speed railway with $344.5mln
The board of executive directors of the Islamic Development Bank (IsDB) thumbed up a $344.5 million fund to contribute to the first phase of the high-speed electric train project in Egypt, the IsDB announced on April 1st.
04 Apr 2023Read more
Islamic Development Bank Institute (Isdbi) Helping Uzbekistan To Build A Resilient Islamic Finance Industry
The objectives of the mission were to assess the progress of on-going projects in Uzbekistan and to pilot the Islamic Finance Country Assessment Framework JEDDAH, Kingdom of Saudi Arabia - A technical mission from the Islamic Development Bank Institute (IsDBI) visited Uzbekistan from 13 to 16 March 2023 and met with key stakeholders to discuss Islamic finance projects and initiatives in the country. The team comprised of Mr. Yahya Rehman, Lead Islamic Finance Specialist, and Mr. Khalid Jawahir, Senior Islamic Finance Specialist.
27 Mar 2023Read more
Malaysia's Prime Minister visits IsDB Headquarters in Jeddah to strengthen relations and explore a strategic partnership between the Asian nation and the IsDB Group
Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, on Thursday, 23 March 2023, welcomed the Malaysian Prime Minister and Minister of Finance, H.E Dato' Seri Anwar bin Ibrahim and accompanying delegation to the IsDB Group Headquarters in Jeddah in a historic visit to strengthen relations and explore a strategic partnership between the Southeast Asian nation and the IsDB Group.
27 Mar 2023Read more
Islamic Development Bank Institute explores development of a smart countertrade system
The Islamic Development Bank Institute (IsDBI) has initiated a project to explore the feasibility of developing a Smart Countertrade System for the Organization of Islamic Cooperation (OIC) member countries.
24 Mar 2023Read more
Despite Growth, Islamic Finance in Morocco Still Faces Big Challenges
Rabat - While hailing the considerable growth witnessed of late in Morocco’s “nascent” Islamic finance industry, a new report by Fitch Ratings has concluded that the sector's “growth potential” could face some major challenges in the future.
20 Mar 2023Read more
Bigger plans for sukuk
In a bid to diversify its sources of finance, the government issued Egypt’s first sukuk (Islamic bonds) offering of $1.5 billion last week. The offering was fourfold oversubscribed, wetting appetites for more Sharia-compliant offerings, with the Ministry of Finance also revealing three-year plans to raise a further $5 billion through this kind of bonds.
01 Mar 2023Read more