Uzbekistan to host 4th CIS Islamic Banking & Finance Forum
The forum takes place against the backdrop of remarkable growth in CIS markets, where Islamic banking assets have expanded by 15% annually since 2018. Uzbekistan emergence as Central Asia's Islamic finance hub makes it the ideal host, with the country implementing progressive reforms and forging strategic partnerships with institutions like the Islamic Development Bank.
The three-day program will tackle the most pressing opportunities and challenges facing Islamic finance in the region. The opening day will feature high-level discussions on regulatory harmonization across CIS markets, digital transformation through Islamic fintech solutions, and the development of Sukuk markets for infrastructure financing. Experts will also explore innovative approaches to financial inclusion through Shariah-compliant microfinance products tailored to the region's needs.
Following the main conference, banking professionals can deepen their expertise through an intensive two-day workshop on Risk and Deposit Management. Participants will gain practical insights into profit distribution models for Mudarabah deposits, liquidity management tools specifically designed for Islamic banks, and Shariah-compliant frameworks for asset-liability management.
The forum will host the prestigious CIS Islamic Banking and Finance Awards, celebrating innovation and best practices across 20+ categories. These awards honor institutions and individuals making exceptional contributions in areas ranging from Islamic fintech to Shariah-compliant investment banking, with past recipients including leading organizations from across the Muslim world.
Mr. Muhammad Zubair Mughal, CEO of AlHuda CIBE, emphasized the forum significance: "This gathering represents a defining moment for Islamic finance in the CIS region. With 65 million Muslims across these markets actively seeking Shariah-compliant solutions, we're seeing unique opportunities for growth and innovation. Uzbekistan's leadership in creating an enabling environment for Islamic finance makes it the perfect host for this critical dialogue."
The event has already attracted confirmed attendance from financial executives across the globe, regulators shaping policy across CIS nations, fintech innovators developing blockchain-based Islamic solutions, and leading scholars advancing Shariah governance frameworks. The forum offers unparalleled networking opportunities and access to Uzbekistan's rapidly developing Islamic finance ecosystem.
The forum enjoys strong backing from key industry players, including Uzbekistan's leasing associations, Azerbaijan's microfinance Association, Azerbaijan Banking Association, Uzbek Leasing International A.O. and Bahrain Association of Banks, Azerbaijan Fintech Association, Uzbek Association for Microfinance Institutions and Association of Microfinance Institutions (AMFI), Kyrgyzstan– demonstrating the global interconnectedness of Islamic finance. The event sponsors are INFOLAD, Autosoft Dynamics and Royal Bullion Capacity.
The 4th CIS Islamic Banking and Finance Forum will take place from June 16 - 18, 2025 at the Hyatt Regency Tashkent. For participation, sponsorship, or exhibition opportunities, please contact: info@alhudacibe.com or visit https://www.alhudacibe.com/cis2025/
About Alhuda CIBE:
AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in Islamic banking and finance industry for research and provides state-of-the-art Advisory Consultancy and Education through various well-recognized modes viz. Islamic Financial Product Development, Shariah Advisory, Training Workshops, and Islamic Microfinance and Takaful Consultancies etc. side by side through our distinguished, generally acceptable and known Publications in Islamic Banking and Finance.
We are dedicated to serving the community as a unique institution, advisory and capacity building for the last twelve years. The prime goal has always been to remain stick to the commitments providing Services not only in UAE/Pakistan but all over the world. We have so far served in more than 104 Countries for the development of Islamic Banking and Finance industry. For further Details about AlHuda CIBE, please visit: www.alhudacibe.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Crypto Insight
a day ago
- Crypto Insight
BitGo backs Central Asia's first spot Bitcoin ETF in Kazakhstan
BitGo, a US-regulated crypto custodian, will safeguard assets for Central Asia's first spot Bitcoin exchange-traded fund (ETF), which debuted Wednesday on the Astana International Exchange in Kazakhstan. The Astana International Exchange (AIX), a stock exchange operating within the Astana International Financial Centre (AIFC) framework, announced the listing of the Fonte Bitcoin Exchange Traded Fund (BETF) on Wednesday. Managed by AIFC-registered asset manager Fonte Capital, BETF offers indirect investment access to Bitcoin to a wide range of investors, including retail participants, AIX said. The BETF fund is physically backed by Bitcoin held in custody of BitGo Trust, a US-based subsidiary of BitGo, which is known for providing BTC custody to major US Bitcoin ETF issuers, including ARK Invest and 21Shares. US-regulated cold storage for Kazakhstan BitGo's involvement in Fonte Capital-issued spot Bitcoin ETF marks the first time for the platform to provide institutional-grade Bitcoin access to investors in Central Asia, the company said in a statement on X. 'Kazakhstan is entering a new era for digital assets,' the company said, adding that it will offer its custody services through 'secure, US-regulated cold storage.' While BitGo publicly acknowledged its role in the new spot Bitcoin ETF, neither Fonte Capital nor the Astana International Exchange mentioned the custodian in their announcements. Cointelegraph reached out to AIX, Fonte and BitGo for comment but had not received a response by publication. BitGo's role is a 'double-edged sword' The growing role of platforms like BitGo in spot Bitcoin products worldwide is a double-edged sword, according to Shady El Damaty, digital identity innovator and co-founder of by Holonym. 'On one hand, you're getting institutional-grade custody right out of the gate, which matters for investor confidence. On the other hand, it highlights how concentrated this layer of infrastructure still is,' he told Cointelegraph. El Damaty highlighted the growing need for local crypto products in developing markets, suggesting that relying on a single global player isn't a long-term solution, but it still gets products like spot Bitcoin ETFs to market faster. 'BitGo's involvement gives Kazakhstan an instant credibility boost,' he said, adding: 'Ideally, countries should be working toward building local custodians that meet the same security standards. That way, you're not just importing financial infrastructure, you're growing it at home, giving the market both sovereignty and resilience.' Bakhrom Saydulloev, a local crypto insider and product lead at Mercuryo, echoed El Damaty's view, emphasizing that strong local custody is crucial for the financial sovereignty of jurisdictions like Kazakhstan. 'But right now using a proven global custodian is the fastest route to credibility and foreign capital inflows,' Saydulloev told Cointelegraph. Impact on the market Founded in 2017, AIX is backed by the AIFC, the Shanghai stock exchange, the Silk Road Fund and Nasdaq, handling around $130 million in monthly trades as of July 2025. While AIX volumes are modest compared with giants like Nasdaq — which saw $73 billion in European equity trades last month — the BETF launch is significant as it provides regulated Bitcoin access to investors who have historically been excluded. 'Until now, there was no regulated, locally listed product giving investors exposure to it,' Saydulloev said, stressing that Kazakhstan has emerged as a major player in the crypto industry, including cryptocurrency mining. 'In regions where traditional finance has left huge gaps, tools like this can be a bridge, not just for investors, but for everyday people to start participating in the digital economy,' El Damaty said. Source:
Zawya
a day ago
- Zawya
TAQA reports AED 3.7bln net income for H1 2025
TAQA advances global expansion with acquisitions in the UK and Uzbekistan, and new power and water infrastructure partnerships in Morocco TAQA Board approves Q2 interim dividend of 0.75 fils per share Abu Dhabi, UAE: Abu Dhabi National Energy Company PJSC (' TAQA ' or the ' Group '), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, today announced its financial results for the six-month period ended 30 June 2025. TAQA delivered a 4.5% year-on-year increase in revenue for the first half of 2025, reaching AED 28.4 billion. This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) segment. While revenue growth remained solid, profitability in the first half of the year was impacted by an expected decline in Oil & Gas production following the cessation of production from four UK assets and weaker oil prices, as well as higher financing costs and non-recurring items. As a result, EBITDA declined 11% year-on-year to AED 10.2 billion and net income fell 19.7% to AED 3.7 billion. Nonetheless, underlying profitability in TAQA's core utilities businesses remained strong. Despite these pressures, TAQA remained focused on delivery and long-term value. In the first half of 2025, the Group continued to execute its international strategy with key milestones achieved across new and existing markets: In Morocco, TAQA signed agreements with national and private sector partners to accelerate the development of integrated power and water infrastructure. This includes efficient gas-fired and renewable power generation, water desalination, and power and water transmission infrastructure. Combined, these initiatives represent a potential investment of approximately AED 52 billion (approximately MAD 130 billion) in Morocco. In Central Asia, the Group completed the joint acquisition, alongside Mubadala, of the 875 MW Talimarjan power complex in Uzbekistan, a strategic entry point into one of the region's fastest-growing energy markets. In the UK, TAQA Transmission is progressing the integration of the recently acquired Transmission Investment ('TI'), establishing a strategic foothold in offshore transmission (OFTO) and contributing to the expansion of grid infrastructure critical for the energy transition. TI manages approximately AED 15 billion (GBP £3 billion) in assets across its portfolio of 11 OFTO projects. In the Netherlands, TAQA completed the transfer of its P18-A gas platform and associated assets to Porthos, supporting the development of Europe's first major carbon capture and storage facility. In Greece, Masdar expanded its presence by completing the 100% acquisition and delisting of TERNA ENERGY, a leader in the country's renewable energy market. Masdar also issued a USD 1 billion green bond to fund new greenfield renewable energy projects under its Green Finance Framework, reinforcing its commitment to achieving 100 GW of global renewable capacity by 2030. Together, these developments reflect TAQA's ambition to deliver efficient, sustainable infrastructure at scale while unlocking new growth opportunities across geographies. Further progress was made in the UAE, where TAQA, in partnership with EWEC, signed a Power Purchase Agreement (PPA) to reconfigure the Shuweihat 1 (S1) plant from a cogeneration facility into a flexible, reserve power plant. The conversion is designed to support the greater integration of renewables into Abu Dhabi's grid by enhancing grid stability during periods of peak power demand. This follows the previously announced agreement for the 1 GW Al Dhafra Thermal power generation project, which will provide additional dispatchable capacity to meet growing electricity demand from artificial intelligence and digital infrastructure in the UAE. His Excellency Mohamed Hassan Alsuwaidi, Chairman of TAQA, said: 'TAQA continues to deliver across its core businesses and new growth markets, reflecting the strength of its long-term strategy. In the first half of the year, the Group advanced its position as a critical enabler of infrastructure development, both within the UAE and internationally. Alongside sustained investment in domestic power and water infrastructure, our growing international presence, including our plans to increase our footprint in Morocco, reinforces TAQA's commitment to providing reliable, efficient power and water supply at scale. As the business evolves, our focus remains on disciplined execution and creating lasting value for shareholders, while supporting the broader energy transition and economic diversification goals of the UAE and the markets we operate in.' Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director, said: 'TAQA's performance in the first half of 2025 reflects the strength of our integrated utility model and ability to consistently deliver value in dynamic market conditions. Despite headwinds, we continued to make tangible progress on priority projects across generation, water and transmission, increasing system flexibility and expanding our global portfolio. These are important steps that reinforce TAQA's position as a reliable partner for large-scale power and water solutions, regionally and globally.' The Group reduced its gross debt position to AED 61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond. At the same time, TAQA accelerated investment in future capacity, with AED 5.2 billion in capital expenditure directed toward flexible generation, transmission upgrades and strategic desalination projects. Looking ahead, TAQA remains focused on advancing its strategic priorities, expanding low-carbon power and water solutions, strengthening grid infrastructure, and enabling energy transition across its markets. The Group continues to support national decarbonisation goals while delivering reliable returns to shareholders through disciplined execution and long-term investment.
Zawya
2 days ago
- Zawya
Binghatti Holding's $500mln benchmark sukuk begins trading on the London Stock Exchange
Binghatti's Regulation S Sukuk priced with a profit rate of 8.125% USD 500 million sukuk issued under its USD 1.5 billion programme Dubai, UAE: Binghatti Holding Ltd ('Binghatti Holding'), one of the UAE's fastest growing real estate developers, celebrated the debut of its USD 500 million 5-year Senior Unsecured Sukuk on the London Stock Exchange with a ceremonial bell-ringing event, marking a key milestone in the company's international growth journey. The sukuk, issued under Binghatti's USD 1.5 billion Trust Certificate Issuance Programme, was oversubscribed five times, attracting over USD 2.5 billion in orders from a diverse pool of regional and global investors. The issuance was priced with a profit rate of 8.125%, reflecting investor confidence in Binghatti's robust financial position. The company is rated BB- by Fitch and Ba3 by Moody's, both with stable outlooks. Founder Dr Hussain BinGhatti, Chairman Muhammad BinGhatti and Chief Executive Officer Katralnada BinGhatti, accompanied by other senior executives and lead arrangers, rang the opening bell at the London Stock Exchange to celebrate the listing. The Sukuk will also be listed on Nasdaq Dubai. Muhammad BinGhatti, Chairman of Binghatti Holding, commented: 'The listing of our sukuk on the London Stock Exchange is a clear signal of Binghatti's commitment to engaging proactively with global investors and operating at the highest standards of transparency and governance. The landmark sukuk issuance enjoyed strong international demand, allowing us to close the books ahead of schedule and reinforcing market confidence in our credit profile, operational resilience, and growth strategy. As we scale our business and diversify our development portfolio, access to deep, liquid, and global capital markets is central to our financial strategy. Today's listing marks another important step in broadening our investor base and strengthening our global footprint.' Katralnada BinGhatti, Chief Executive Officer of Binghatti Holding, commented: 'Binghatti's sukuk programme reflects our commitment to diversifying the company's funding base, extending our maturity profile, and efficiently deploying capital to capture emerging opportunities. The five-times oversubscription and strong demand from institutional investors across Europe, Asia, and the Middle East signal a clear endorsement of our vertically integrated business model. With close to 50% of allocations going to non-GCC investors, we are pleased to see growing global recognition of Binghatti's unique positioning in Dubai's real estate sector. As we grow our portfolio and redefine luxury living in Dubai, we will continue to maintain prudent leverage and strong corporate governance.' The successful issuance and the strong demand come on the back of Binghatti Holding's strong H1 2025 results. During the first half, the company's net profit more than tripled to AED 1.82 billion, driven by resilient demand for Dubai real estate. The Group's total sales reached AED 8.8 billion, with revenue climbing 189% YoY to AED 6.3 billion. The Group launched seven new projects and delivered five developments in H1 alone, handing over 15 projects in the last 18 months. Its AED 12.5 billion revenue backlog and over AED 70 billion development portfolio position it as one of Dubai's leading developers. Binghatti currently has approximately 20,000 units under development across 30 projects in prime Dubai locations including Downtown, Business Bay, Jumeirah Village Circle, and Meydan, as well as its flagship branded residences in collaboration with luxury partners Bugatti, Mercedes-Benz, and Jacob & Co. The company's development pipeline was further reinforced by the recent acquisition of approximately 9 million sq. ft. megaplot in Nad Al Sheba 1, which will host Binghatti's first master-planned community, with a projected development value of over AED 25 billion. About Binghatti Holding Ltd.: Binghatti Holding Limited is one of the UAE's fastest-growing real estate development companies, with a rapidly expanding portfolio that spans over 80 projects valued at more than AED 70 billion. Renowned for its pioneering branded residences, Binghatti has forged collaborations with global icons such as Bugatti, Mercedes-Benz, and Jacob & Co., creating architectural masterpieces that blend innovation with opulence. The company's robust financial foundation and disciplined growth strategy are underpinned by its solid credit ratings, 'BB-' by Fitch and 'Ba3' by Moody's, reflecting strong investor confidence and long-term stability. An architect by training, Chairman Muhammad BinGhatti continues to shape the brand's legacy of architectural excellence and uncompromising quality. Binghatti has delivered more than 12,000 residential units to date, with a portfolio spanning elegantly designed mainstream communities offering high-quality living at accessible prices to ultra-luxury residences that set new benchmarks in Dubai's high-end real estate market.
