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press release
Bursa Malaysia Enhances Islamic Securities Selling and Buying – Negotiated Transaction Framework
Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) recently enhanced its Islamic Securities Selling and Buying – Negotiated Transaction (“ISSBNT”) Framework. ISSBNT is the world’s first Shariah-compliant alternative to Securities Borrowing and Lending, which the Exchange launched in December 2017. It involves the sale and purchase of Shariah-compliant securities, which delivers the equivalent outcome of a conventional securities borrowing and lending transaction, but is structured according to Shariah principles.
15 Feb 2023
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press release
The IFSB Disseminates PSIFIs Data for 2022Q3 on Islamic Banking Systems in Member Countries
The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level Prudential and Structural Islamic Financial Indicators (PSIFIs) data on the Islamic banking sector up to Q3 of 2022 from IFSB member jurisdictions. This 25th dissemination of PSIFIs data makes available, quarterly data from 2013Q4 to 2022Q3.
14 Feb 2023
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press release
The IILM receives sustained demand for its USD 920 million short-term Sukuk reissuance in February
The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari’ah-compliant financial instruments, has successfully completed its second auction of the year with the reissuance of an aggregate USD 920 million short-term Ṣukūk across three different tenors of one, three, and six-month respectively.
14 Feb 2023
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press release
Exposure Draft on Hajah and Darurah
The exposure draft sets out the Bank’s proposed requirements and expectations for the application of hajah (need) and darurah (dire necessity) by Islamic financial institutions in carrying out Islamic banking and takaful business.
13 Feb 2023
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news
Malaysia's Islamic Financing Growth to Continue Outperforming Conventional Banks
Malaysia's Islamic financing growth is likely to moderate in 2023 as higher financing rates sap demand, but Fitch Ratings expects growth to continue to outperform that of conventional banks, due to the country’s supportive regulatory environment and Islamic finance ecosystem as well as the shift towards Sharia-compliant services.
13 Feb 2023
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news
Egypt: FRA issues rules for takaful companies seeking to convert operations to traditional commercial insurance
Dr Mohamed Farid Saleh, chairman of the Financial Regulatory Authority (FRA) has issued a decision (No. 194 of 2022) regarding rules and procedures for revising the licensing of takaful companies to allow them to operate in the traditional commercial insurance system in the Egyptian market. The decision was published in the Official Gazette on 29 January 2023.
03 Feb 2023
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