PAKISTAN: Securities and Exchange Commission of Pakistan proposes reduction of statutory forms under Companies Act to 27 from 75 MALAYSIA: Agrobank reaches RM200,000 (US$44,913.6) cash Waqf target to support dialysis project PAKISTAN: Dbank raises US$17.6 million seed funding co-led by Sequoia Southeast Asia and Kleiner Perkins INDONESIA: Bank Syariah Indonesia collaborates with Sinarmas Land Group to provide home financing for Southgate Apartment project GLOBAL: Brunei Institute of Leadership and Islamic Finance and London Institute of Banking and Finance sign MoU to promote human capital development UK: Gatehouse Bank secures first-time ‘Baa3/Prime-3’ deposit ratings from Moody’s SAUDI ARABIA: Al Rajhi Bank records pre-Zakat net profit of SAR4.75 billion (US$1.26 billion) for quarter ended the 30th June 2022 SAUDI ARABIA: S&P assigns ‘ksaAA+/ksaA-1+’ Saudi Arabia national scale ratings with positive outlook to Al Rajhi Bank SAUDI ARABIA: Bank Albilad grows second-quarter net profit by 22.81% to SAR511 million (US$136.08 million) driven by higher operating income MALAYSIA: Gabungan AQRS proposes RM200 million (US$44.9 million) Islamic commercial paper program ‘MARC-1IS/AIS’ preliminary ratings assigned INDONESIA: Kereta Api Indonesia floats IDR500 billion (US$33.65 million) sustainable Sukuk Ijarah
TURKEY: Turkey to auction 10-year lease certificate on 16th August 2022 INDONESIA: Indah Kiat Pulp & Paper offers IDR1 trillion (US$67.29 million) Sukuk Mudarabah MALAYSIA: Export-Import Bank of Malaysia names Arshad Mohamed Ismail as president/CEO TUNISIA: Al Baraka Bank partners with Tunisian Digital Finance for People to launch financially and socially inclusive mobile wallet service INDONESIA: Otoritas Jasa Keuangan determines shares of Agung Menjangan Mas and Aman Agrindo as Shariah compliant GLOBAL: IFN welcomes Professor Dr Abdussalam Ismail Onagun as Takaful and re-Takaful correspondent for Africa QATAR: Qatar First Bank shareholders approve bank name amendment to ‘Lesha Bank’ in extraordinary general meeting SAUDI ARABIA: SABB Takaful Company receives Saudi Central Bank approval regarding merger transaction with Walaa Cooperative Insurance Company SAUDI ARABIA: Musharaka REIT Fund reduces fixed part of financing costs by 24% in renewed bank facilities PAKISTAN: BRR Guardian Modaraba disburses PKR85.26 million (US$364,738) in Musharakah facilities PAKISTAN: Securities and Exchange Commission of Pakistan releases digital asset management companies concept note to test model in sandbox GLOBAL: GFH Financial Group’s UK-based logistics asset manager forms joint venture with ICG Real Estate to aggregate urban logistics portfolio across SpainīANGLADESH: Bangladesh Bank receives one bid for three-month government Sukuk MALAYSIA: Bank Negara Malaysia prints five Islamic liquidity management facilities MALAYSIA: Tanjung Pinang Development issues three unrated Islamic medium-term notes totaling RM29 million (US$6.51 million) PAKISTAN: Pakistan government repays US$40 million Sukuk in July, reports The News International INDONESIA: CIMB Niaga Syariah completes Indonesia’s first commodity Murabahah deal SAUDI ARABIA: Portfolios Investment Company meets criteria to conduct investment management activities The comparative analysis covers eight countries: Australia, Canada, France, Germany, Italy, the Netherlands, the United Kingdom and the United States.MALAYSIA: Prudential BSN Takaful allocates RM2.4 million (US$538,757) this year to provide basic Takaful protection for the poor This study assesses how well countries leading multilateral efforts to freeze and seize kleptocrats’ assets are equipped to deliver on their objectives. In a welcome step, several governments – primarily Western economies such as those making up the G7 – are now joining efforts to share intelligence and cooperate across borders as part of a dedicated task force. But denying safe haven to Russian kleptocrats calls for multilateral efforts, including tracking down the illicit wealth they have diligently hidden across the globe.
The initial response of the advanced Western economies was to unleash new waves of targeted sanctions against Kremlin-linked individuals. Russia’s brutal invasion of Ukraine in February 2022 ignited a global reckoning over the dangers of kleptocracy and the international community’s decades-long complicity.