Al Khaleej Today

Global #sukuk market: A window of opportunity is opening

According to S&P Global Ratings, total sukuk issuance volume for the full year 2020 will be lower than in 2019. Central banks have already taken measures to boost banks' liquidity in core Islamic finance countries, so they are unlikely to issue sukuk this year. They want banks' increased liquidity to reach corporates, thereby minimizing the risk of a long-lasting economic downturn. The difficult economic environment has led to higher financing needs for sovereigns, but most of them are turning to conventional markets due to the complexity of issuing sukuk. The number of defaults among sukuk issuers with low credit quality will likely increase, which will serve to test the robustness of legal documents for sukuk.

IsDB eager to support development projects Madinah

IsDB President Dr. Bandar Bin Hajjar stated that the bank was working on a pioneering project to establish a "Global Waqf Centre of Excellence" in Madinah, with a capital of $50 million. The aim of the center is to build a global umbrella for the Waqf sector, linking and coordinating all those interested in Waqf. The Islamic Research and Training Institute (IRTI) is preparing to launch the first initiative of the center to grant an approved certificate of Waqf specialist. IRTI is also working on the "Ish’had" platform, which is an e-platform using blockchain technology, to document and protect Waqf properties.

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