Jazz, the trade name of Pakistan Mobile Communications and the country’s largest mobile network and internet services provider, has tapped the Islamic capital market with a landmark issuance. The Islamic facility, worth PKR15 billion (US$53.71 million), is touted as the first-ever and largest short-term unsecured Sukuk by a telecom operator in Pakistan. The issuance provides Jazz with an entirely new funding avenue to fund its ‘4G for All’ initiative which includes a network expansion plan. https://lnkd.in/gS_8kTQ4 #REDmoney #IFN #IslamicFinance #Finance #Sukuk #ShariahCompliant #FinancialServices #Investments #MobileNetwork #CapitalMarkets #IslamicCapitalMarket #AssetFractionalization #Insurance #Jazz #PakistanMobileCommunications #JazzCash #Pakistan
Islamic Finance News
Data Infrastructure and Analytics
Kuala Lumpur, Kuala Lumpur 16,049 followers
For accurate and comprehensive news about Islamic Finance
About us
Islamic Finance news (IFN) is the industry's leading news provider, housing the largest pool of Islamic finance-related articles and coverage. Providing breaking news, reports and analyses through its multimedia digital channels, IFN covers the whole spectrum of the Shariah compliant finance industry leveraging on its unrivaled connections, team of journalists and global network of market expert correspondents. IFN is an integral element of the REDmoney Group, the foremost global provider of specialized Islamic financial media services across two core divisions of events and publishing. Established in 2004, the firm, has offices in Dubai, Kuala Lumpur and London.
- Website
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https://www.islamicfinancenews.com/
External link for Islamic Finance News
- Industry
- Data Infrastructure and Analytics
- Company size
- 11-50 employees
- Headquarters
- Kuala Lumpur, Kuala Lumpur
- Type
- Privately Held
- Founded
- 2004
- Specialties
- Islamic Finance, Events & Trainings, Publishing, Media, and Seminar
Locations
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Primary
207, Jalan Tun Razak
Suite 22-06, 22nd Floor
Kuala Lumpur, Kuala Lumpur 50400, MY
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Jumeirah Bay
16th Floor, X2 Tower
Dubai, Dubai PO Box 126732, AE
Employees at Islamic Finance News
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Dr Hurriyah El Islamy
CEO & Founder of HGC Firm| Islamic Finance Expert | Board Member at Ethis Global | Awards winning global professional in Islamic Economy, Finance and…
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Assoc. Prof. Sutan Emir Hidayat, Ph.D.
Director, National Committee for Islamic Economy and Finance, Indonesia (KNEKS) and Associate Professor at Gunadarma University, Indonesia
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'Mohammed' R. Kroessin, PhD, ACSI
Exec Director at GEMicro / Head of Islamic Microfinance at IRW / Lecturer at Frankfurt School
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Mohamed Afzal ♞
♞Risk Management Specialist | Risk Consulting | Compliance | Governance
Updates
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The Islamic Development Bank (IsDB) and its subsidiaries kicked off the 2024 IsDB Group Annual Meetings in Riyadh with agreements signed with member countries and strategic partners, to foster economic growth and development across vital sectors. The multilateral bank approved a US$150 million grant for Tajikistan’s construction of its Rogun Hydropower Plant Project’s Lot-4 (Left Bank Structures); EUR60.57 million (US$64.77 million) for Benin and EUR70.46 million (US$75.34 million) for the Ivory Coast, for their respective Root and Tuber/Regional Cassava Value Chains Development Projects; and EUR120 million (US$128.32 million) for Turkiye’s Nakkas–Basaksehir Motorway Project, which aims to provide an alternative Bosphorus crossing. https://lnkd.in/g6iEg6YE #REDmoney #IFN #IslamicFinance #Finance #ShariahFinance #TradeandDevelopmentBank #SMEs #TradeFinance #InfrastructureDevelopment #EconomicGrowth #UgandaDevelopmentBank #Afreximbank #IsDB #ICD #ITFC #IslamicDevelopmentBank #IslamicCorporationDevelopment #InternationalIslamicTradeFinanceCorporation
IFN - Daily Cover Story: IsDB and subsidiaries sign strategic agreements with member countries and partners at 2024 IsDB Group Annual Meetings
islamicfinancenews.com
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IsDB announces the winner of the Outstanding Contribution to Intra-OIC Trade Development: Foreign Trade Training Centre (FTTC) ITFC has awarded the Foreign Trade Training Centre (FTTC) the "Outstanding Contribution to Intra-OIC Trade Development" award. This recognizes the FTTC's dedication to boosting Egypt's global trade position and its successful partnership with ITFC. Founded by the Egyptian Ministry of Trade & Industry, the FTTC plays a vital role in developing export professionals, strengthening trade ties within the OIC. Through ITFC-supported programs like TREE and STEP, the FTTC has trained hundreds of new exporters and entrepreneurs, contributing to Egypt's goal of reaching USD 100 billion in exports within five years. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) International Islamic Trade Finance Corporation (ITFC) Foreign Trade Training Centre- مركز تدريب التجارة الخارجية #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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IsDB announces the winner of the Trade Finance Deal of the Year: Turk Eximbank ITFC has awarded Türk Eximbank the "Trade Finance Deal of the Year" award. This recognizes their long-standing partnership and Türk Eximbank's key role in expanding ITFC's private sector initiatives in Turkey. Since 2009, ITFC has provided Türk Eximbank with approximately US$3.5 billion in financing, with an impressive US$3.2 billion mobilized from external sources. This collaborative effort has significantly impacted Turkey's trade landscape, with a particular focus on SMEs and the textile sector. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) International Islamic Trade Finance Corporation (ITFC) Turk Eximbank #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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IsDB announces the winner of the Most Impactful ICD Investee Company of the Year: Tunisia’s Wifak Bank Tunisia’s Wifak Bank made the transition a fully-fledged Shariah compliant bank in 2016, while the ICD participated in the capital increase reserved for strategic partners including the Tunisian sovereign wealth fund and other Tunisian investors. In line with ISO 26000 standards, Wifak is quantifying its carbon footprint and is attempting to reduce it while also making progress on SDGs 5, 8, 9, and 17. Wifak’s Fitch rating outpaces the sovereign rating as it provides 55,000 individuals/SMEs with access to financial resources and employed over 300 local talents while collaborating with a fintech company to introduce digital payments. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) WIFAK BANK #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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IsDB announces the winner of the Most Impactful Islamic Financial Institution of the Year: Kazakhstan’s JSC Leasing Group ICD issued last year a Tenge-denominated sukuk which was rated “A+” by Fitch. With a size of KZT 2 billion, this is the first sukuk in the national currency of one of the Commonwealth of Independent States (CIS). The sukuk proceeds were used to support Kazakhstan's JSC Leasing Group’s on-lending activities. The ultimate beneficiaries are mostly small and medium-sized enterprises. With the volatility in currency markets representing a major risk for companies with revenues in local currency, ICD provided a local currency financing solution to Leasing Group. Leasing Group is listed on the Kazakhstan Stock Exchange. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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@IsDB announces the winner of the Most Innovative Investment Development Initiative of the Year: African Development Bank (AfDB) The ICIEC has signed a risk-sharing engagement arrangement with African Development Bank (AfDB) to support financing dedicated to ESG projects in Côte d’Ivoire the Ivory Coast. The ICIEC has provided an insurance capacity of EUR194 million (US$210.13 million), backstopping the EUR400 million (US$433.25 million) partial credit guarantee (PRGPCG) issued by the AfDB against the non-payment risk associated with a facility of EUR533 million (US$577.31 million) extended by Standard Chartered Bank to the government of the Côte d’IvoireIvory Coast. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) African Development Bank Group #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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IsDB announces the winner of the Export Credit Agency of the Year: Kazakh Export The ICIEC cooperated with Kazakh Export, for the export of locomotives to Azerbaijan Railways by providing insurance support for a US$29.8 million lease finance facility of 10 ‘Evolution – Type’ diesel locomotives to Azerbaijan Railways for 10 years, while supporting intra-OIC trade and meets SDG 9 of the UN. Islamic Development Bank (IsDB) Islamic Development Bank Institute (IsDBI) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) #PSFAwards #PrivateSectorForumAwards #IsDBGroup #ICIEC #ICD #ITFC #ShariahCompliant #TradeFinance #PrivateSectorDevelopment #FinancialInnovation #IslamicFinance #FinanceAwards #IndustryRecognition #InnovationAwards
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Most of our winners do not arrive at the top of the list as the keystone of a national program. The IFN Overall Deal of the Year was structured under the leadership of the UAE’s Federal Debt Management Office (the DMO under the Ministry of Finance). The T-Sukuk are meant to meet the following objectives as stated on the DMO website. https://lnkd.in/gStXJ4GR #REDmoney #IFN #IslamicFinance #Finance #IFNOverallDealoftheYear #FederalDebtManagementOffice #MinistryofFinance #FinancialMarket #InfrastructureProjects #GovernmentFinance #InvestmentEnvironment #Euroclear #FitchRatings #NASDAQDubai #UAE
IFN - Daily Cover Story: Winner of IFN Overall Deal of the Year is UAE T-Sukuk
islamicfinancenews.com
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The Indonesian province of West Java has affirmed its commitment to promoting a Shariah economy with the establishment of a dedicated Sharia Economic and Financial Regional Committee, or Komite Daerah Ekonomi dan Keuangan Syariah (KDEKS). On the 23rd April 2024 in Bandung City, Vice-President Ma’ruf Amin inaugurated the new West Java KDEKS, which is chaired by Bey Machmudin, the acting governor of the province. https://lnkd.in/gdJvvdDC #REDmoney #IFN #IslamicFinance #Finance #ShariahEconomy #DevelopmentFinance #ShariahBanking #ShariahEconomicDevelopment #KDEKS #Indonesia
IFN - Daily Cover Story: West Java establishes Sharia Economic and Financial Regional Committee
islamicfinancenews.com