A new report from S&P Global Ratings says that unlike in the corporate sector, where the pandemic led to widespread downgrades in 2020, credit ratings on Islamic (Takaful) and conventional insurers in the Gulf Cooperative Council (GCC) have remained broadly stable over the past 18 months, supported by relatively strong capital buffers.
Nasdaq Dubai has welcomed the listing of a USD500 million perpetual Additional Tier 1 Sukuk, issued by the Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE.
Kinesis, a monetary system based on 1:1 allocated physical gold and silver, has announced the soft launch of PT Pos Indonesia’s physical gold-based digital Shariah product, PosGO Syariah.
Prestige Funds, a UK-based specialist private debt investment manager, has launched the ‘Premium Alziraea Fund’, a Shariah-compliant real assets and project financing fund targeted at the renewables and agriculture sector in the UK.
Murex partners with DDCAP Group to facilitate transactions for Islamic financial market participants
Murex has partnered and integrated its platform with DDCAP Group (DDCAP) to streamline booking and processing of Shariah compliant transactions by financial institutions worldwide.
Schroders has launched the Islamic Global Equity Fund, a diversified investment strategy which combines Shariah Law compliance with multi-factor investing.
The Indonesia Stock Exchange (IDX) has launched its Electronic Trading Platform (ETP) for secondary market trading of bonds and sukuk using AxeTrading’s AxeChange technology.
Nasdaq Dubai has welcomed the listing of a USD600 million Sukuk by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB).
Bedford Row Capital (BRC), a global non-bank structuring specialist, has launched an 18-month inflation-linked sukuk. The notes will be EUR, CHF, USD and GBP, denominated Insured Money Market Certificates (IMMCTM) and will be open to investment from 14 October 2020.
SEDCO Capital, a global Shariah-compliant asset manager, has received the highest possible rating by the United Nations-supported Principles for Responsible Investment (PRI) in recognition of the Firm’s approach to responsible investing and integration of environmental, social and governance (ESG) factors into its investment solutions.