We hope you had a blessed and joyful Eid celebration with your family and friends! Now, we bring you the next issue of EPICENTRE with a round up of news in the world of Islamic finance. We hope you will enjoy reading this issue. Let us know if you have any feedback and ideas.

The MIFC Team

AIIB signs MoU with IsDB on sustainable infrastructure
The MoU deepens the relationship between the two banks, allowing them to foster collaboration, share information and facilitate knowledge exchanges on development finance, Islamic finance and integrity mechanisms. The MoU will focus on sustainable infrastructure including development of energy and power, transportation and telecommunications, rural infrastructure water supply and sanitation, environmental protection, urban development and logistics. Read more 

This effort is in line with global efforts to channel more capital towards building more sustainable infrastructure. In Islamic finance, green sukuk has emerged as a potent instrument to help the world transition to a greener economy. Just last year, the world’s first green sukuk was issued in Malaysia to finance the construction of a solar energy project.

FCI introduces Shariah-compliant factoring to support cross-border trade
FCI, a global umbrella organisation for factoring companies, has added Shariah-compliant factoring as part of its supported business finance solutions. This move is expected to boost the growth of Islamic financing in supporting cross-border trade. Read more

CIAWM offers scholarship to promote Islamic asset and wealth management
The BNP Paribas – INCEIF Centre for Islamic Assets and Wealth Management (CIAWM) based in Kuala Lumpur has just announced the opening of scholarships for four PhD candidates. The centre has been awarding scholarships to INCEIF students annually since 2013. Apply now

Halal databases for trade opportunities
Thomson Reuters has just released its European Halal Companies Database 2018. The Database is an exclusive database containing facts and data on over 1,000 halal companies in Europe. It focuses on helping business professionals unlock and engage in trade opportunities that will ultimately shape the future direction of the global halal industry.

Malaysia on other hand, is home to more than 7,000 halal companies that offer a wide range of halal products ranging from foods, cosmetic, pharmaceutical, consumer product, logistic, etc. Click here to connect and engage with them.

Malaysia home to the largest number of Islamic fintech startups community
Raconteur, a business content provider, has just published its Islamic Finance Special Report 2018.

In this latest edition of the report, Raconteur highlights that Shariah-compliant fintech can help attract more than 150 million new banking customers in the next three years. Malaysia, the UK and Indonesia are leading the race, in this area, ranking first, second and third respectively by number of Islamic fintech start-ups. A number of initiatives to enhance the fintech ecosystem have been undertaken by some jurisdictions such as Malaysia, Bahrain, the UAE, and the UK to facilitate its development. In Malaysia, the implementation of the Regulatory Sandbox provides a conducive environment for fintech innovation, drawing strong interest from both financial institutions and fintech companies. Learn more

World Cup fever
Almost all of us are glued to our screens following the World Cup. The Islamic Finance News, IFN, has jumped into the fray to produce a series of interesting and insightful articles to study the state of Islamic finance in all 32 economies playing the World Cup. Who do you think will win? Read more

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