Global Islamic Economy Summit

Welcome to the Global Islamic Economy Summit (GIES), the world’s largest and most inclusive gathering for the Islamic economy.

[Global Islamic Economy Summit @GIESummit]

Palm Hills Development is preparing to issue a financing sukuk programme worth EGP 3.2bn to finance the company’s Badya Project.Banque Misr and Misr Capital will play the role of promoter, underwriter, and payment agent for the upcoming issuance of #sukuk https://t.co/8iIFR3Pgi3

[Global Islamic Economy Summit @GIESummit]

Saudi East Pipes Integrated Co. for Industry obtained a Shariah-compliant working capital financing worth SR500 million from Bank Albilad. The proceeds will be used to finance the working capital of one the company’s projects https://t.co/dYiq7N1nSS

[Global Islamic Economy Summit @GIESummit]

SABB #Takaful merger to boost Walaa Insurance’s capital to $227mln.Upon completion of the deal, SABB Takaful’s assets, liabilities, and rights will be transferred to Walaa Insurance and the former will “cease to exist” https://t.co/id2ahwk2j9

[Global Islamic Economy Summit @GIESummit]

Boubyan Bank has hired banks to arrange a sale of a five-year USA dollar unsecured #sukuk. The proceeds will have a positive effect on its liquidity position and diversify its sources of long-term financing https://t.co/zDF91VzjeA

[Global Islamic Economy Summit @GIESummit]

Investcorp, a Bahrain-based alternative investment management firm, has invested 130 crore Indian rupees ($17.5 million) in V-Ensure Pharma Technologies https://t.co/rWENGtlEl1

[Global Islamic Economy Summit @GIESummit]

IsDB has approved the setting up of the Afghanistan Humanitarian Trust Fund.Foreign ministers of the #OIC entrusted the bank to establish and operationalize the fund to serve as a vehicle to channel humanitarian and development assistance to #Afghanistan https://t.co/454DgflZlS

[Global Islamic Economy Summit @GIESummit]

Riyad Bank, which is 43% indirectly owned by the Saudi government, has hired banks for a planned issuance of U.S. dollar-denominated Additional Tier 1 (AT1) #sukuk to support its capital base and meet financial and strategic needs https://t.co/SrSWU4gemp

[Global Islamic Economy Summit @GIESummit]

#Saudi Arabian food and beverage (F&B) giant Almarai has completed the acquisition of Bakemart’s businesses in the UAE and Bahrain in a deal valued at 93.5 million dirhams ($25.4 million). https://t.co/grmOH6idNA

[Global Islamic Economy Summit @GIESummit]

#Saudi National Bank has announced plans to issue US dollar-denominated senior unsecured #sukuk under its international sukuk program. The amount and terms of offer of the sukuk will be determined later subject to the market conditions https://t.co/3QbRFTZHsO

[Global Islamic Economy Summit @GIESummit]

#UAE-based Response Plus Holding, which is 40 percent owned by Abu Dhabi’s conglomerate International Holding Company (IHC) has acquired Health Tech Training for 9.8 million dirhams ($2.7 million) https://t.co/m4sHoH6YE3

[Global Islamic Economy Summit @GIESummit]

#Malaysia External Trade Development Corporation is taking the halal agenda globally during the Expo 2020 by focusing on bringing together businesses to capture business-to-business opportunities, as well as seeking government-to-government cooperation https://t.co/zGQxqFcgDy

[Global Islamic Economy Summit @GIESummit]

Bank Aljazira announced the commencement of the Tier 2 #Sukuk noting that it will end on 31 Dec.
The SAR-denominated Sukuk offering value stands at up to SAR 2 billion, while the number of notes and total value will be determined based on market conditions https://t.co/B21WQdDnz7

[Global Islamic Economy Summit @GIESummit]

The new #IslamicBanking Index by Emirates Islamic for 2021 showed that nearly half of those surveyed (48 percent) are more likely to prefer Islamic banking products since the COVID-19 pandemic, up three percent from 2020 https://t.co/LlwlCYkfev

[Global Islamic Economy Summit @GIESummit]

The #Saudi British Bank (SABB), has launched a #Shariah-compliant supply chain finance product to support small and medium-sized firms. The Payables Finance Solution product is based on buyer risk where the seller bears the cost of discounting https://t.co/ePi9PQsSCU

[Global Islamic Economy Summit @GIESummit]

Emirates Islamic has closed a $500 million five-year #sukuk at a profit rate of 2.082 percent per annum. The issue, which is part of its $2.5 billion Certificate Issuance Programme, is rated A+ by Fitch https://t.co/MYTtwp89Vs

[Global Islamic Economy Summit @GIESummit]

#SaudiArabia witnessed rapid growth in Islamic financing with the total #Sharia-compliant financing amounted to more than $430 billion,while the total volume of Sharia-compliant deposits amounted to $433 billion by the end of the 2nd quarter of this year https://t.co/xV1gog8g99

[Global Islamic Economy Summit @GIESummit]

The Capital Market Authority (CMA) allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invests in assets within the boundaries of #Makkah and Madinah https://t.co/yjB08ZOdAj

[Global Islamic Economy Summit @GIESummit]

ETF and Vision 2030 offer #Shariah-compliant opportunities in gold.The ETF was a result of collaboration between Albilad Capital and Dubai Gold and Commodities Exchange https://t.co/8Zu7Bdt2pu

[Global Islamic Economy Summit @GIESummit]

Global finance leaders commit to unlocking US$30+ billion of capital through green and sustainability #sukuk by 2025 which was launched at the UN Climate Summit https://t.co/wtEIuJuiZr

[Global Islamic Economy Summit @GIESummit]

#Brexit has impacted the sales, production and exports of British #halal food, while red tape has driven up costs https://t.co/iWYVX9jTLc