Islamic Banking

Indonesia set to see record Sukuk issuance in 2012: HSBC

The government has already sold US$1.5 billion of local Sukuk in March this year, says HSBC Amanah head Herwin Bustaman. Read ››

Bank Muamalat to raise $87M through sukuk

Bank Muamalat will issue Islamic debt papers in July with the hope of raising Rp 800 billion or US$87 million. Read ››

CIMB poised to become Asia's largest investment banking franchise

Will it be able to topple Credit Suisse as it acquires Royal Bank of Scotland? Read ››

Islamic banks in Asia, and their differences with their GCC counterparts

The Islamic banking sector is one of the fastest growing segments in global banking, growing at an estimated 15-20% p.a. Read ››

Permata eyes 65% sharia lending growth

Permata Bank Syariah is targeting a lending growth of 65 percent this year. Read ››

PermataBank Syariah ups profit by 41% in 2011

PermataBank Syariah reported a profit of Rp 133 billion or US$14.45 million in 2011, reports Jakarta Post. Read ››

Bank Islam Malaysia admits to tougher 2012

Challenges facing Malaysia’s first Islamic bank will dent its bottom line this year. Read ››

Islamic Finance offers comprehensive solution: BNM Governor

Islamic finance offers a comprehensive and competitive solution in meeting funding and investment requirements of businesses. Read ››

Bank Islam, Takaful Malaysia push BIMB Holdings net profit up

BIMB Holdings' profit before zakat and taxation is up 47 percent to US$189.2 million for the financial period ended Dec 31, 2011. Read ››

Simpanan hopes to sustain 10% growth for Islamic account savers

Bank Simpanan Nasional hopes to sustain the 10 percent growth last year for its Islamic banking product account savers. Read ››

Azrulnizam appointed Al Rajhi Bank Malaysia CEO

Azrulnizam Abdul Aziz has been appointed CEO of Al Rajhi Bank (Malaysia). Read ››

Bank Muamalat wants non-muslim customers for Islamic products

Bank Muamalat's hopes to enhance the market of its various Islamic banking products and services with non-Muslin customers . Read ››

HSBC to introduce new sukuk

HSBC Amanah Malaysia Bhd will introduce an innovative sukuk this year for retail investors to maintain HSBC's position as a leading sukuk house. Read ››

Islamic banking risk management standards

Islamic Risk Management standards aim at enhancing and improving the current standards in the shariah compliant banking industry. Read ››

CIMB to launch new Islamic products in Singapore and Indonesia in 2012

CIMB Group will introduce new Islamic products in Indonesia and Singapore this year through its Islamic units in the two countries. Read ››

Kazakhstan lures Malaysians to invest in its Islamic finance

Kazakhstan has invited Malaysians to invest in the country's Islamic finance sector. Read ››

AIA AFG Takaful to open 3 branches in 2012

AIA AFG Takaful Bhd plans to set up three branches next year, its chief executive officer Wan Azman Wan Mamat said. Read ››

Maybank’s net profit jumps 25% to RM1.29b in 1Q11

As overseas loans surged 41.4% led by Singapore and Indonesia. Read ››

Indonesia's Islamic banking assets grow by 4 %

Indonesia's Islamic banking sector beefed up its assets by 46.55 percent to 126 trillion rupiah or some 14.002 billion U.S. Read ››

Takaful Malaysia pays RM578,000 profit-sharing to university

Takaful Malaysia paid Mudharabah profit-sharing totalling RM578,000 to Universiti Kebangsaan Malaysia for their Group Takaful Scheme. Read ››

Hong Leong Islamic appoints Raja Teh Maimunah as CEO

She has over 18 years of experience in the financial industry and was the Global Head of Islamic Markets at Bursa Malaysia. Read ››

Hong Leong Takaful Eyes RM10 Million Contribution From MBSB Tie-up

Hong Leong Takaful expects to net RM10 million in gross premiums in the first year following the MoU  with Malaysian Building Society Bhd for the i-Save takaful plan. Read ››

Hong Leong Islamic to get EONCAP Islamic business

A Vesting Order has been granted by the High Court to  transfer the entire business including all assets and liabilities of EONCAP Islamic Bank Bhd to Hong Leong Islamic Bank from Nov 1, 2011. Read ››

Malaysia needs more trained Islamic banking personnel

Malaysia needs to educate more staff on Islamic banking products and services towards becoming a hub for Islamic finance, said an Islamic banking consultant. Read ››

CIMB Group launches Shariah-compliant securities services

It will comprise of four business units namely, Trustee Services and Products, Custody, Corporate Agency, and Fund Accounting. Read ››

Malaysia aims to become global Islamic finance centre

The government targets further enhancing stakeholders' confidence and enhance the integrity of the Islamic financial industry. Read ››

Maybank Islamic eyes steady contribution from asset financing to parent

27% of Maybank Group's total loan and advances come from its Islamic unit. Read ››

Takaful: Insurance revolution in Islamic finance

Islamic Finance Industry: Alpha & Omega The enactment of the Islamic Banking Act in 1983 spawned a new paradigm of banking in Malaysia. Read ››

Bank Islam remains open to M&As

The lender wants to the M&A that has a strategic fit, which it didn’t see in the last two failed attempts. Read ››

Mizuho to venture into Islamic Banking in Malaysia

Malaysia is giving out financial services licenses to foreign companies to boost banking industry competition. Read ››

OSK-UOB starts offering global food Islamic equity fund

The fund will have a Shariah- compliant equity exposure of up to 98% of the fund's next asset value. Read ››

Sri Lanka opens first Sharia-compliant commercial bank

Sri Lanka's Amana Bank will open its first Sharia- compliant commercial bank in 14 branches across the country. Read ››

CIMB Niaga to offer Commidity Murabahah deposit

CIMB Niaga plans to roll out a new Syariah product, Commodity Murabahah deposit, possibly by end of this year. Read ››

Islamic Finance: remarkable growth presents a real challenge

Remarkable growth Between 2006 and 2010, Islamic Finance has seen a 19 per cent CAGR (compound annual growth rate) - bringing it to an estimated global value of USD 1 trillion. Read ››

What role do Islamic Financial Institutes have in the Finance world of tomorrow?

The Issue of Choice In February 2011, KPMG last wrote about the issues regarding the infrastructure and regulation of Islamic banking in Malaysia. Read ››

StanChart Indonesia seeks to take over Bank Muamalat

The British bank is among the suitors which aims to capitalise surging demand for Islamic banking business in Indonesia. Read ››

Malaysian central bank grants Islamic banking licence to Bahrain bank

The lender’s Malaysian presence in Malaysia will foster the financial linkages between Kuala Lumpur and Banrain and to develop the Islamic financial system in the country. Read ››

Malaysia targets $2bn global sukuk offering

HSBC, CIMB, Maybank, and Citibank to lead sukuk issue as Malaysia plans to repeat roadshows conducted in Asia, the Middle East and Europe. Read ››

Bank Islam Malaysia advises rivals to start merging

Industry’s stiff competition forces small lenders to team up with larger ones to form stronger entities. Read ››

DBS names Toby O'Connor head shiaria unit

The banker formerly headed JP Morgan’s Middle East and North Africa Sovereign Wealth Funds and Financial Sponsor group for investment banking. Read ››