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Islamic Finance

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  • The Islamic Development Bank has agreed to finance more than $1.158bn of development projects in its member countries and special assistance for health and education projects in favour of Muslim communities in non-member countries. This is the biggest ever amount approved by the board in one session since IsDB's inception in 1975.
  • JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
  • JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
  • Malaysia's CIMB-Principal Islamic Asset Management has begun distributing Islamic Ucits equity funds into the UK, having received approval from the country's financial services authority. CIMB-Principal offers the Dublin-domiciled Islamic Global Emerging Markets Fund, the Islamic Asia Pacific ex Japan Fund and the Islamic Asean Equity Fund just as its total assets under management are about to hit $1bn.
  • Bahrain's Gulf Finance House (GFH) has restructured part of its $100m syndicated wakala facility to extend the tenor of the unpaid $45m portion by six years.