The global sukuk market in 2020 registered USD174.2 billion total issuance (2019: USD157.8 billion), while the global outstanding sukuk as at end 2020 stood at USD572.6 billion (+16.5% from 2019). Sovereign, quasi sovereign and supranational issuance contributed 62.1% share out of total global issuance. 

The recently launched State of the Global Islamic Economy Report 2020/21 (the Report) estimated that Muslims spending on Islamic economy sectors reached USD2.02 trillion and Islamic finance assets recorded at USD2.88 trillion in 2019. The global Muslims spending is forecasted to decrease by 8% in 2020 due to the pandemic. The Report also highlighted that Malaysia leads the overall Global Islamic Economy Indicator (GIEI) rankings for eighth consecutive year. This includes retaining its top position for Islamic finance sector alongside three other sectors. 

Utilising Islamic finance solutions for your business provides benefits such as attracting additional investors, strengthening company branding, improving financial management and enhancing sales. Malaysian Islamic financial institutions including Islamic banks and takaful operators are able to cater your business needs for every stage of a business cycle. 

The Halal Integrated Platform (HIP) developed by Halal Development Corporation (HDC)  is an online networking platform that connects industry players to global halal payers, equipping businesses with he competitive edge to tap into the ever-growing halal market while expanding market reach globally.

The Shariah Advisory Council (SAC) of Bank Negara Malaysia has made a ruling that electronic money (e-money) is a permissible payment instrument provided that the e-money is structured based on appropriate Shariah contract(s) to preserve the rights and obligations of the contracting parties.

Bursa Malaysia-i offers a comprehensive range of exchange related facilities including listing, trading, clearing, settlement and depository services, leveraging on the existing infrastructure with enhancements to incorporate Shariah compliant features.

The COVID-19 pandemic has affected individuals, companies and economy including Islamic banks. What is the role of Islamic banks? What is the impact of Covid-19? How can Islamic banks sail through Covid-19 and continue supporting their clients and community? This webinar brings panellists Dato’ Mohamed Rafique Merican, CEO Maybank Islamic / Chairman of IBFIM, Mr. Arsalaan Ahmed, CEO HSBC Amanah, Prof. Dato’ Dr. Azmi Omar, PCEO INCEIF and moderator Asst. Prof. Dr. Ziyaad Mahomed, Director of Executive Education and E-learning INCEIF to discuss these issues.

iTEKAD is a social finance programme for B40-owned micro entrepreneurs. The programme aims to support B40 micro-entrepreneurs to generate sustainable income and improve financial resilience.

Sustainable development has been globally recognised as an imperative, with commitments being made to address relevant issues by nations including Malaysia. Accordingly, the availability of finance supported by efficient financial markets would play a crucial role in ensuring that the global sustainable development needs are adequately supported. Bank Negara Malaysia and The Securities Commission Malaysia (SC) have long been cognisant of the need to promulgate and develop sustainable finance as it aligns closely with the underlying principles of Islamic finance. For capital market, the SC has established the Sustainable and Responsible Investment (SRI Roadmap) and facilitative regulatory framework to support sustainable and responsible investment.

The global sukuk issuance in the year 2019 registered a soaring 40.4% growth with a total of USD157.8 billion sukuk issued. The growth is mainly driven by increased number of sovereign issuances from the United Arab Emirates (UAE), Saudi Arabia, Turkey and Indonesia.

The Shariah advisory authority is established to deliberate Shariah matters in Islamic finance. The role of the Shariah advisory authority has positively impacted the development of Islamic finance, particularly in presevering the sanctity of Shariah and sustaining public confidence with Shariah rulings that have enacted a conducive environment for the industry to innovate and grow.

Efforts to further strengthen Shariah governance standards remain a priority to the Bank as good governance models and practices evolve in tandem with the growing complexity of the Islamic financial industry. As such, the revised policy document on Shariah Governance outlines a more integrated Shariah governance policy and implementation that will impact business model and strategy of Islamic financial institutions as well as drive innovation of value-adding Islamic financial products and services through effective implementation of the Shariah contract-based regulatory framework.