Islamic Finance
Pakistan Locks In Three-Year International Debt Mandates — Sukuk Included
Pakistan appointed bank consortiums for three-year eurobond, sukuk, and dollar-settled rupee bond mandates. What the instrument mix signals about the country's financial posture.
briefSaudi Arabia's NDMC Swaps SR17.1 Billion in Sukuk to Extend Its Debt Horizon
Saudi Arabia's NDMC redeemed SR17.1bn and issued SR17.2bn in new five-tranche sukuk maturing 2031–2041. Why this sovereign debt management routine matters.
briefSenegal's Investor Confidence Crisis Puts Its $500M Sukuk Plans at Risk
A 90% FDI collapse and debt at 128.6% of GDP are testing whether Senegal can follow Benin into international Islamic bond markets in 2026.
briefGlobal Sukuk Outstanding Hits $1 Trillion for the First Time as Islamic Finance Reaches $5 Trillion
Global sukuk outstanding crossed $1 trillion for the first time in 2026, while total Islamic finance industry assets now surpass $5 trillion.
briefTogo's 10-Year Sovereign Sukuk Reaches Its Final Payment — A Milestone for UEMOA
On August 17, Togo makes the last repayment on its 2016 sukuk, closing a formative decade for Islamic finance in West Africa.
briefMaybank and ADB's CGIF Formalize Sukuk in ASEAN+3 Digital Infrastructure Push
A July 23 MoU between Maybank and CGIF explicitly names sukuk alongside digital bonds as core instruments for financing ASEAN+3 digital infrastructure — a mainstreaming signal.
briefMaybank Becomes First Malaysian Bank to Enable QR Payments via Samsung Wallet
Maybank's MAE Scan & Pay is now natively embedded in Samsung Wallet, enabling QR payments across Malaysia, Singapore, Thailand, Indonesia, and Cambodia.
briefMoya Indonesia Raises IDR 2 Trillion in Sukuk Wakalah to Fund Water Infrastructure
Salim Group's water utility listed IDR 2 trillion in bonds and sukuk wakalah on the IDX July 15, to fund drinking water systems across Tangerang, west of Jakarta.
briefAn Islamic Bank's Bet on the Soundbox: Bank Rakyat Targets Malaysia's MSME Payment Gap
Bank Rakyat, Malaysia's largest Islamic cooperative bank with RM131 billion in assets, is deploying Android payment soundboxes with Paysys to reach SME merchants.
newsBeximco's Green Sukuk Was Sold as Asset-Backed. The Land Was Never Mortgaged.
Bangladesh's first corporate green sukuk faces default risk as Beximco refuses to execute a mortgage deed — exposing a structural gap in Islamic capital market governance.
briefCOFINA's AI Bet: Discernement, Not Automation, in Africa's Missing Middle
Jean-Luc Konan of COFINA argues AI should sharpen a banker's judgment, not replace it — a thesis with real stakes across eight African markets.
newsUzbekistan Publishes Its Islamic Banking Rules. Now Banks Must Choose Their Path.
Eight regulatory amendments registered July 17 complete Uzbekistan's Islamic banking rulebook: licensing, capital adequacy, and Sharia governance. The first window must open by end-2026.
briefLibya's First Private-Sector Sukuk: What the Benghazi Initiative Actually Signals
Benghazi launches Libya's first private-sector investment sukuk package, topping 1 billion Libyan dinars. A framework is not yet a bond market — but this is where they begin.
briefRiyad Bank Opens AT1 Sukuk Subscription to Retail Investors at SAR 1,000 per Unit
Riyad Bank priced a SAR-denominated AT1 sukuk at SAR 1,000 per unit — opening it to retail investors. Here's what that signals for Islamic capital markets access.
briefLagenda Capital Files RM1.5 Billion Sukuk Wakalah to Fund Affordable Housing in Malaysia
Lagenda Capital Bhd lodged a RM1.5 billion Sukuk Wakalah programme with Malaysia's Securities Commission to finance affordable housing projects.
briefMBSB Bank and Zurich General Takaful Launch Bancatakaful Products for Homes, Workplaces, and Individuals
MBSB Bank's bancatakaful partnership with Zurich General Takaful Malaysia introduces three Shariah-compliant protection products distributed through the bank's branch network.
briefWest Africa's Instant Payment Rail Reaches 30 Million Users in Nine Months
BCEAO's PI-SPI platform crossed 30 million connected users by July 2026, less than ten months after launch — roughly 40% of UEMOA's adult population.
briefPakistan's Rs239 Billion Hybrid Sukuk Debut: A New Benchmark for South Asian Islamic Finance
Pakistan raised Rs239 billion in its inaugural short-term hybrid sukuk on July 22, 2026, drawing PKR 770 billion in bids — 3x oversubscribed, and a first in the country's Islamic capital market.
briefA €69,000 Fund Is Tripling Incomes for Women Farmers in Northern Gabon
The 'Francophonie avec Elles' Fund has supported 250 women in Gabon through targeted agricultural projects. The results — incomes tripled — raise a replicability question for francophone Africa.
briefBCEAO 2025: Zero Inflation, Doubled Bank Capital, and a 90% Financial Inclusion Target
West Africa's central bank presented its 2025 annual report with three structural priorities that will reshape the business environment for millions of entrepreneurs across the UMOA zone.
briefSaudi Arabia's Mortgage Refinancer Doubles Its International Sukuk Programme to $10 Billion
SRC's $2.75bn government-guaranteed sukuk drew $18.7bn in orders — 6.8× oversubscribed. Here's why the plumbing of Sharia-compliant homeownership matters more than the headline.
briefOman's Islamic Banks Near 20% Market Share With OMR9.8 Billion in Assets
Central Bank of Oman data shows Islamic banking assets reached OMR9.8 billion in 2026, as market share approaches the 20% threshold that marks structural maturity.
briefSaudi Islamic Banks Now Hold 76% of Sector Assets, S&P Finds
S&P Global Ratings finds Islamic banks now control 76% of Saudi banking assets, driven by Vision 2030 mortgage and corporate lending.
briefThe Islamic Fintech Gap: $198B Industry Concentrated in Just Ten Hubs
Islamic fintech has 484 companies and $198B in transaction volume — but growth is almost entirely locked in ten global hubs, mostly in the Gulf and Southeast Asia.
briefAfrican Insurers at the Crossroads: Reinventing the Relationship
At the États généraux de l'assurance pour tous in Cotonou, industry actors named what the market has long signalled — the trust gap is the real product gap.
briefBSIC Bénin's ZAKA Social Bond: Banking on Affordable Housing
BSIC Bénin launches the FCTC ZAKA 2026-2033, its first social bond, to fund affordable housing — a signal that the bank's ambitions go beyond standard credit intermediation.
briefESG Sukuk Outstanding Tops $61 Billion — But New Issuance Fell 32% as Malaysia Captured Two-Thirds of the Market
Fitch data for H1 2026 shows ESG sukuk outstanding rose 24% to over $61B while new issuance fell 32%, with Malaysian ringgit deals accounting for 67% of total supply.
briefNigeria's Islamic Finance Crosses N5.77 Trillion — but Stays Federal
Nigeria's non-interest finance industry closed 2025 at N5.77 trillion. But 74% of capital markets is federal sukuk and only 3 of 36 states have ever issued. The structural gap is the story.
briefThe Sharia-Compliant Fund Boom: Where Institutional Money Is Actually Going
Islamic finance has quietly crossed $5 trillion in assets. In 2026, the capital moving in looks less like a niche religious market and more like a mainstream fixed-income play.
briefUzbekistan's First Islamic Banking Law Is Live — Here's What the Framework Actually Says
Uzbekistan enacted its Islamic banking law in June 2026 and immediately stood up a governance council. 37 million Muslims, zero Islamic banks — until now.
briefBank Nizwa Proposes Acquiring Alizz Islamic Bank as Oman's Islamic Sector Nears 20% Market Share
Bank Nizwa's non-binding proposal to acquire Alizz Islamic Bank from Oman Arab Bank comes as Islamic assets reach OMR 9.8 billion — 19% of Oman's banking system.
briefBurjeel's $500M Sukuk on the London Stock Exchange: The First MENA Healthcare Deal in 8 Years
Burjeel Holdings listed a $500 million sukuk on the London Stock Exchange in July 2026, drawing $1.6 billion in orders — the first MENA healthcare sukuk since 2018.
briefThe Islamic Banking Super-App From Uzbekistan Targeting the Gulf
IMAN Holdings is raising $100 million to bring its AI-driven Islamic banking platform from Central Asia to the GCC. One million users, six years of traction, and one AI assistant named Aisha.
briefITFC Signs $1 Billion With Burkina Faso — What Islamic Development Finance Looks Like at Scale
The Islamic Development Bank's trade arm committed $1 billion to Burkina Faso in June 2026, its fourth framework in 18 years. Agriculture, energy, and $3.4 billion already deployed.
briefAfrica's Insurance Gap: A Pan-African Pact That Still Needs a Takaful Strategy
FANAF's Pan-African Pact targets doubling CIMA zone insurance penetration by 2040. The takaful gap for Muslim-majority markets remains unaddressed.
newsBenin's $500M Sukuk Opened a Door That Africa's Sovereign Borrowers Are Walking Through
Benin's debut sukuk attracted $7B in orders in early 2026. Nigeria and Senegal are now preparing their own issuances — and Gulf capital is watching Africa closely.
newsGreen Sukuk Is Where Islamic Finance Found Its ESG Argument — and Its Next $70 Billion
ESG sukuk is projected to exceed $70B outstanding in 2026, after 23% year-on-year growth. The convergence between Islamic finance principles and sustainability mandates is accelerating.
briefAEON Bank's Losses Are Narrowing — And That's the Number That Matters
AEON Credit's Q1 FY2027 net profit rose 20.5% to RM93.4M, while AEON Bank's losses narrowed to RM17.7M — Malaysia's first Islamic digital bank is past its investment peak.
briefAsia's $40 Billion Fraud Problem Is Now a Trust Crisis
INTERPOL puts Asia-Pacific scam networks at nearly $40B a year. As eKYC shifts from compliance to credibility, the math still doesn't add up.
briefBahrain's Islamic Finance Sector Nears $100 Billion — The 42% Signal Matters More
Fitch Ratings projects Bahrain's Islamic finance assets will surpass $100 billion by 2027. The real story is market penetration, not the headline number.
briefCôte d'Ivoire's $63 Billion Critical Minerals Bet: Will Private Capital Follow?
Abidjan's PIRME commits $63 billion to transform Côte d'Ivoire's extractive sector by 2040. Whether AfDB backing and 30 ministers is enough to move private capital is the real question.
briefMalaysia Completes First MYOR-i Benchmark Trades — The Rate Infrastructure Islamic Finance Needed
Cagamas and CIMB executed RM650M across three MYOR-i-referenced instruments, completing Malaysia's first real-market test of its new Islamic overnight benchmark rate.
briefMalaysia Anchors Global Sukuk Growth at $129 Billion in H1 2026 as GCC Slows
S&P Global data shows global sukuk issuance surged to $129B in H1 2026, driven by Malaysia's local-currency market offsetting a 9% GCC decline.
briefPakistan Has 40 Million Crypto Users. Its Most Senior Scholar Just Called It Haram.
Mufti Taqi Usmani's fatwa declaring Bitcoin, Ethereum, and USDT impermissible pits Pakistan's top Islamic scholar against the state's own Sharia-compliant crypto regulator.
briefPolicyStreet's $26M Round Is a Bet on Embedded Insurance — and on Takaful's Scale Problem
Malaysia's largest insurtech closed its Series C at US$26M. The Khazanah backing and BlueOrchard's InsuResilience mandate make the Islamic insurance angle hard to ignore.
briefThe OIC's Pharmaceutical Forum: Why Nouakchott and Why Now
700+ stakeholders convened in Mauritania to push intra-OIC pharmaceutical investment — Islamic economic cooperation is expanding into healthcare.
briefRHB's 300-Vendor AI Day: Reading a Bank's Tech Ambitions Through Its Procurement
Malaysia's RHB Banking Group convened 300+ vendors to discuss responsible AI — backed by RM942 million in annual procurement spending under its PROGRESS27 strategy.
briefAEON Bank Moves into SME Financing — and It Matters for Islamic Digital Banking
Malaysia's first Islamic digital bank launches Term Financing-i and Working Capital Financing-i using Murabahah via Tawarruq to target underserved SMEs.
briefRHB's New Islamic Credit Card Bets on Simplicity Over Perks — at 14% Profit Rate
RHB Bank launches the Sinar Credit Card-i in October 2026: 14% profit rate, no annual fee, no compounding charges — a deliberate move away from premium complexity.
briefWahed Opens Malaysia's First Regulated Fractional Property Platform From RM500
Wahed X launches Shariah-compliant fractional real estate in Malaysia under SC supervision — retail access to property from RM500, no mortgage required.
briefThe Kinshasa Stock Exchange could reshape how capital flows into Central Africa
The DRC partners with IFC to create a stock exchange in Kinshasa. The move signals a broader shift in how Africa's most mineral-rich nation plans to finance its future.
brief92% of Malaysian banks use AI, but only 2% have scaled it — and that gap matters
A new AICB report reveals Malaysian banks are adopting AI faster than they are building governance around it. The trust deficit could shape how Islamic banking deploys the technology.
briefPos Malaysia Brings Syariah-Compliant Digital Gold to the Masses — Starting at RM10
Pos Malaysia's Pos ArRahnu Gold-i makes Islamic digital gold investment accessible from RM10, targeting 70,000 new investors through its nationwide postal network.
briefGCC Sukuk Issuance Jumps 13.1% in Early 2026 — Saudi Arabia Leads the Charge
S&P Global data shows GCC sukuk issuance rose 13.1% in the first four months of 2026, driven by Saudi Arabia's local-currency borrowing and ESG-linked instruments.
newsGlobal Islamic Finance Assets Hit $4.4 Trillion — But Growth Is Slowing
The IFSB 2026 Stability Report reveals Islamic finance assets grew 13.4% to $4.4 trillion in 2025. S&P warns geopolitical headwinds could halve that pace in 2026.
briefMal Raises $230M to Build an AI-Native Islamic Digital Bank From Abu Dhabi
Abu Dhabi-based Mal secured $230 million from BlueFive Capital to launch an AI-powered Islamic digital bank targeting over two billion underbanked Muslims worldwide.
rankingTop 10 Islamic Fintechs to Watch in 2026
A data-driven ranking of the Islamic fintechs with the strongest momentum heading into the second half of 2026, scored on funding, scale, product innovation, and geographic reach.
analysisWahed Crossed $2 Billion in AUM — What That Tells Us About Islamic Wealth Tech
Wahed doubled its assets under management in just over a year, reaching $2 billion. A closer look at what is driving the growth and where the limits are.