Islamic Finance Council UK (UKIFC) on LinkedIn: The Pioneers of Islamic Finance | Stella Cox, DDCAP Group (2024)

Explore the critical journey towards introducing Alternative Student Finance (ASF) in the UK. From early discussions to significant legislative milestones, our blog outlines the progress made and the challenges that remain. ASF is a crucial step towards financial inclusion in education.Read the full blog here:https://lnkd.in/eYxFaej3Baroness Diana Barran The British Board of Scholars and Imams (BBSI) Department for Education Federation of Student Islamic Societies (FOSIS) Funders In Good IslamicFinanceGuru National Union of Students (UK) Omar Khaliel Riba Free Foundation Stephen Timms Umer Suleman#HigherEducation #FinancialInclusion #StudentFinance #ASF #IslamicFinance

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Interesting article by James Andrew on Shariah-compliant financing options for SMEs in the GCC region.Read the article here: https://lnkd.in/eVkH-mtZ

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A recent survey by Hong Leong Islamic Bank [https://lnkd.in/efaQ9eCp] revealed that 65% of Malaysian Muslims exclusively choose Shariah-compliant banking and investment products. This is an indicator of the preference for ethical and faith-based financial services.At UKIFC, we conducted a global survey with around 2,000 participants from four continents, focusing on banking customers' attitudes toward the UN Sustainable Development Goals (SDGs). Remarkably, 87% of respondents expressed a willingness to pay more for products aligned with the SDGs.This shift shows that consumers are increasingly considering the broader impact of their financial choices, looking beyond halal compliance to include sustainability and ethical impact.Read more about our retail survey here: https://ukifc.com/sdg/#IslamicSustainableFinance #IslamicBanking #SDGs #EthicalInvesting #SustainableFinance

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Tanzania has just launched its first Sharia-compliant investment scheme, marking a significant milestone in Islamic sustainable finance. This fund offers investors ethical investment opportunities that adhere to Islamic law, focusing on Shariah-compliant equities, sukuks, and public funds, including Exchange Traded Funds (ETFs).At the UKIFC, we're passionate about promoting Islamic sustainable finance, which aligns perfectly with our Tayyib-inspired Islamic Sustainable Investing Platform (ISIP). This fund is an example of how Islamic finance can drive sustainable and ethical investments globally.Explore more about our ISIP here:https://lnkd.in/dAjxymFw

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Warba Bank has issued the country's first-ever Sustainable Sukuk, valued at USD500 million with a 5-year maturity [https://lnkd.in/e8Du6w7f].This landmark issuance aligns with the growing green and sustainable Sukuk trend that our High-Level Working Group on Green Sukuk has been advocating for. In our 2023 report, we highlighted the immense potential of sustainable Sukuk.To learn more about the role of green and sustainable Sukuk, read our 2023 report here: https://lnkd.in/eA4aw3MZ

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The first Islamic bank in Turkey, Albaraka Türk Katılım Bankası A.Ş, has launched a Medium Term Notes (MTN) Sukuk Programme with up to $1 billion in nominal value. This programme will allow thebanktoissuesustainablesukukaswellassukukinavarietyofcurrenciesandtenors.Read the details here: https://lnkd.in/eG4364SN

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The Nairobi Securities Exchange (NSE) [ https://lnkd.in/duhJHRXV] has made history by listing its first Shariah-compliant financial asset - the Linzi Sukuk bond. This was inaugurated by President William Ruto, it marks a significant step towards diversifying Kenya's financial market and embracing ethical investments.Key highlights:ØFirst Sukuk bond listed on NSEØRaised KSh3 billion for affordable housingØ15-year maturity with 11.13% internal rate of returnØAims to expand ethical financing options in KenyaThis development aligns with global trends in Islamic finance and demonstrates Kenya's commitment to inclusive economic growth. We look forward to seeing how this impacts the broader African financial landscape.#IslamicFinance #SukukBond #EthicalInvesting Read the #GreenSukuk2023 report for more insights on the Sukuk market. https://lnkd.in/eA4aw3MZ

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According to Fitch Ratings [https://lnkd.in/eHp5vyep], considering the seasonality of the global sukuk market, slower ESG sukuk issuance is anticipated in Q3 2024. They expect a market rebound between Q4 2024 and Q1 2025 following the summer holidays.We are keen to receive responses to our survey on the #ESGSukuk market. We particularly welcome insights from fixed-income investors, issuers, underwriters, and advisers.Follow the link to take the survey: https://lnkd.in/dHRq4tgY#IslamicFinance #SustainableInvesting #FixedIncome #IslamicSustainableFinance #ESG #SustainableFinance

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Offa, the UK-based Sharia-compliant bridge finance FinTech, has launched a new buy-to-let (BTL) finance service [https://lnkd.in/ekvGpXP5].This development comes at an important time when the findings of the All-Party Parliamentary Group on Islamic and Ethical Finance's Call for Evidence on "Financial Exclusions of Muslims in the UK" found that many Muslims in the UK face significant barriers in accessing financial services that comply with their beliefs. This service will address some of the gaps highlighted in the summary findings. Read the summary findings here: https://ukifc.com/

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