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RAM Ratings assigns AAA rating to Westports’ sukuk
RAM Ratings has assigned a long-term AAA/stable rating to Westports Malaysia Sdn Bhd’s (Westports or the Company) RM2.0 bil Sukuk Musharakah Programme 2011/2031 (the Sukuk). Westports operates Malaysia’s largest container terminal and multi-cargo port (the Port). The Company’s Privatisation Agreement with the Port Klang Authority and the Government of Malaysia runs up to 2054.
09 Feb 2021
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Halal: Operating within the shariah-compliant digital economy
Malaysia is home to a Muslim-majority population. To ensure that their halal needs are met, the Department of Islamic Development Malaysia (Jakim) was created and is responsible for issuing halal certifications in the country. While the coverage of these certifications is wide and widely known in the F&B industry, pharmaceuticals, cosmetics as well as other goods, this is not the case in the services industry, says Faeez Fadhlillah, entrepreneur and co-founder of travel platform Tripfez.
08 Feb 2021
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press release
Additional Allocation of RM2 billion for the Targeted Relief and Recovery Facility and the Establishment of a RM200 million Disaster Relief Facility 2021
Bank Negara Malaysia (BNM) wishes to announce an additional allocation of RM2 billion for the Targeted Relief and Recovery Facility and the establishment of a RM200 million Disaster Relief Facility 2021.
08 Feb 2021
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Cambridge-IIF launches its flagship Global Islamic Finance Report 2020-21 in a global conference
Cambridge Institute of Islamic Finance (Cambridge-IIF) launched the 11th annual edition of the Global Islamic Finance Report (GIFR). The launch ceremony was held virtually in collaboration with Minhaj University Lahore (MUL) at its 4th World Islamic Economics and Finance Conference. MUL has, over the last three years served as Knowledge Partner for the report. It was the second launch ceremony held, as the first one took place in the mid of January to announce the release of the most sought-after and comprehensive report in the Islamic banking and finance industry. The event was moderated by Dr Rizwan Malik, Senior Manager at Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
05 Feb 2021
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RAM Ratings reaffirms First Abu Dhabi Bank’s AAA rating
RAM Ratings has reaffirmed First Abu Dhabi Bank P.J.S.C.’s (FAB or the Group) AAA/Stable/P1 financial institution ratings, as well as the respective AAA/Stable and AA1/Stable ratings of the senior and subordinated notes under the Group’s RM3 billion Islamic/Conventional Medium-Term Note Programme (2010/2030). The rating action reflects our expectation that extraordinary support from the Government of Abu Dhabi (GoAD) and the United Arab Emirates (UAE) federal government will be readily extended in times of need. FAB’s systemic importance to the UAE underpins this expectation – it holds a dominant share of the UAE banking system’s deposits (32% as at end-September 2020).
05 Feb 2021
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Affin Hwang posts record asset growth in 2020
Affin Hwang Asset Management Bhd has posted the strongest expansion of total assets under administration (AUA) last year. The company's AUA rose 26 per cent to RM73 billion as of December 31 from RM58 billion in January last year.
04 Feb 2021
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Malaysian Fintech Global Sadaqah Raises RM450,000 in Shariah-Compliant Crowdfunding
Malaysia-based fintech startup Global Sadaqah has raised RM450,000 via an issuance on recently-regulated Shariah-compliant equity crowdfunding platform Ethis Malaysia. Open for 72-hours, the flash-fundraising campaign surpassed the minimum target of RM200,000, attracting investors from 10 countries including strategic angel investors.
04 Feb 2021
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