Latest news with #IslamicFinance
Zawya
2 days ago
- Business
- Zawya
DIB strengthens global agri-financing with participation in landmark $1.85bln facility for Olam Agri
The transaction adds to DIB's growing portfolio of Islamic syndications across global capital markets. Dubai, UAE – DIB, the world's first Islamic bank and the largest in the UAE, has announced its participation, alongside a group of international lenders, in a landmark US$1.85 billion syndicated dual-tranche financing facility extended to Olam Agri, a leading global agri-business. DIB acted as the Senior Mandated Lead Arranger and Investment Agent for the Islamic tranche, reinforcing its role as a leading provider of Shariah-compliant cross-border financing for high-impact sectors. The three-year facility will be used for general corporate purposes and reflects the continued growth of values-driven finance in global markets. Olam Agri is majority-owned by Singapore's Olam Group with a significant minority stake held by the Saudi Agricultural and Livestock Investment Company (SALIC), a wholly owned subsidiary of the Public Investment Fund (PIF). The company plays a critical role in enhancing food security and supply chain resilience across global markets. The transaction adds to DIB's growing portfolio of Islamic syndications across emerging sectors, demonstrating the bank's ability to channel Islamic capital into industries of global significance. Ali Ahmad, Chief of Investment Banking at DIB, commented: 'We are really pleased to have closed our first deal with Olam Agri. This transaction is a clear reflection of the growing global demand for Islamic liquidity — not as an alternative, but as a core instrument for financing the real economy. DIB's role in leading the Islamic tranche demonstrates our ability to bring structure, scale, and certainty to complex, cross-border mandates. Beyond its economic contributions, Agri-finance is essential to building resilient food systems and strengthening supply chains. By supporting this sector through a Shariah-compliant framework, we reinforce our belief that Islamic finance has a central role to play in addressing global sustainability challenges. This includes advancing inclusive economic growth, promoting responsible resource use, and fostering innovation across industries. At DIB, we view Islamic finance as a forward-driving force — one that is not just aligned with global capital markets, but actively shaping their future through values-led structures and real-economy outcomes.' The transaction also reflects DIB's commitment to supporting the United Nations Sustainable Development Goals (SDGs), particularly those focused on inclusive economic growth, sustainable infrastructure, and global partnerships. By financing companies that integrate sustainability and innovation into their core operations, DIB continues to advance its mission of enabling long-term, ethical impact through Islamic finance. About DIB: Established in 1975, DIB is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets now exceeding USD95 billion and market capitalisation of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah-compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, The launch of Panin Dubai Syariah Bank in Indonesia early marked DIB's first foray in the Far East, with a stake of nearly 25% stake in the Indonesian bank. Additionally, DIB was given the licence by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in UAE. The acquisition of Noor Bank has solidified its position as a leading bank in the global Islamic finance industry. Recently, DIB has successfully acquired minority stake of 25% of T.O.M. Group which provides digital banking services in Türkiye. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the 'Best Islamic Bank' in various prestigious ceremonies marking the bank's leadership position in the Islamic finance sector. As a progressive Islamic financial institution, DIB embraces the opportunities and challenges associated with integrating sustainability into its business by delivering sustainable products and services and by advancing the green and social composition. 2025 marked DIB Golden Jubilee, with a Bold New Vision for the Future to be prepared to meet the challenges ahead and continue building a legacy of success for the years to come. For more information, please visit us at About Olam Agri Olam Agri is a market leading, differentiated food, feed and fibre agri-business with a global origination footprint, processing capabilities and deep understanding of market needs built over 35 years. With a strong presence in high-growth emerging markets and products across grains & oilseeds, wheat milling & pasta, rice, edible oils, specialty grains & seeds, animal feed & protein, cotton, wood products, rubber, sugar & bioenergy and risk management solutions, Olam Agri is at the heart of global food and agri-trade flows with 45.1 million MT in volume handled in 2024. Focused on transforming food, feed and fibre for a more sustainable future, it aims at creating value for customers, enable farming communities to prosper sustainably and strive for a food-secure future. Olam Agri Holdings Limited, which holds the Olam Agri business, is a 64.6% owned subsidiary of Olam Group. 35.4% of Olam Agri Holdings is owned by SALIC International Investment Company, a wholly owned subsidiary of Olam Agri's strategic partner The Saudi Agricultural and Livestock Company. For more information and to subscribe to news alerts, please visit
Finextra
2 days ago
- Business
- Finextra
Islamic fintech Offa launches bridge-to-let finance service
Offa, the UK's leading Islamic property finance fintech, has today launched an innovative bridge-to-let finance service – combining Offa's ultra-fast bridge product with its modern, paperless buy-to-let (BTL). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Offa, which was the first to introduce Sharia-compliant bridge finance to the UK, is on a mission to disrupt and transform the traditionally old-fashioned and cumbersome world of Islamic finance through flexible, faith-based property finance solutions and digital processes, making it fast and easy to apply and get funding. Sagheer Malik, Offa's Group Chief Commercial Officer and MD of Retail Finance, said: 'Speed is the crucial factor in real estate. Our ultra-quick bridge-to-let service is the first of its kind in this sector, allowing both Muslims and non-Muslims to save huge amounts of money, unlocking equity and providing wealth for their families. We are now offering faith-based finance products that not only out-perform those of our competitors in Islamic finance but also those in conventional finance.' Acquiring bridge and BTL finance separately can take many months, but by combining both simultaneously, Offa's Sharia-compliant bridge-to-let can provide finance within weeks instead of months, depending on credit rating and risk criteria. This allows aspiring landlords or seasoned property investors to buy and upgrade below-value properties, releasing equity. Customers avoid double-application fees for bridge and BTL, paying a flat £495 bridge-to-let fee instead, and they save 0.5% on BTL arrangement fees. There is no minimum term on the bridge product, providing flexibility, and if a buyer's rental income is not sufficient for BTL finance, they can make up the difference with their personal monthly income (commonly known in the industry as top-slicing). Naseer Ahmed, Offa's Managing Director of Bridge Finance, said: 'By combining our teams' decades of industry experience with the latest technology, we at Offa are on a mission to bring Islamic finance into the 21st century, leaving behind the onerous paperwork and cumbersome systems that many customers have typically had to suffer in the past.' Instead of using interest, Offa's BTL product involves the Islamic finance principles of co-ownership-with-leasing. Customers acquire the property in partnership with Offa and make monthly payments to increase their share, over time owning it. The service is available to anyone purchasing property in England and Wales aged 18 or over, with a minimum income of £18,000 per annum, and with a minimum property value of £80,000. Offa recently purchased Bank of Ireland's Alburaq Sharia-compliant home finance portfolio in a landmark deal, and also announced it had received FCA authorisation to provide Islamic home purchase plans. The company received £230 million of sharia-compliant funding for its BTL product, offering significant capacity for the business to expand and diversify its financial propositions in the UK property market. Offa follows an ethical finance model designed in accordance with Islamic finance principles, which means not charging interest and not investing in sectors deemed harmful to society – such as alcohol, tobacco, animal testing, gambling and the arms trade.
Zawya
2 days ago
- Business
- Zawya
AlHuda CIBE partners with Soltesz Institute to offer dual certifications in Islamic finance
Dubai – UAE: In a landmark collaboration aimed at advancing global Islamic finance education, Alhuda Centre of Islamic Banking and Economics (Alhuda CIBE) has entered into a strategic partnership with The Soltesz Institute, a premier EU-accredited educational platform operated by PSP Angels Management Limited. This alliance will provide students worldwide with access to dual-certified distance learning courses, combining Alhuda CIBE's industry expertise with The Soltesz Institute's internationally recognized accreditation. Under the terms of the agreement, The Soltesz Institute will integrate Alhuda CIBE's specialized courses into its platform, offering students the unique advantage of receiving two certifications upon completion: one from Alhuda CIBE, a globally respected authority in Islamic finance, and another EU-accredited certificate from The Soltesz Institute, endorsed by Director Viktoria Soltesz. This dual certification is designed to enhance the credibility and employability of graduates in both Islamic and conventional finance sectors. Muhammad Zubair Mughal, CEO of Alhuda CIBE, emphasized the transformative potential of the partnership: 'By uniting Alhuda CIBE's deep-rooted knowledge in Islamic finance with The Soltesz Institute's European accreditation and digital platform, we are creating a powerful ecosystem for learners. This initiative not only broadens access but also elevates the standard of Islamic finance education globally. AlHuda CIBE has been a pioneer in offering state-of-the-art distance learning programs since 2008, including the Post Graduate Diploma in Islamic Banking and Finance, Certified Islamic Microfinance Manager, Certified Takaful Professional, Certified Islamic Fund Manager, and Certified Sukuk Professional, as well as the Executive Diploma in Halal Industry. Our alumni network spans 110+ countries, a testament to the global recognition and impact of our programs. These courses are meticulously designed to meet international standards, combining Shariah compliance with practical industry insights, ensuring our graduates are well-equipped to excel in the dynamic field of Islamic finance.' Echoing this sentiment, Viktoria Soltesz, Director of The Soltesz Institute, remarked: 'Our mission has always been to bridge gaps in professional education through high-quality, accredited programs. Partnering with Alhuda CIBE allows us to offer specialized content that meets the growing demand for Sharia-compliant finance expertise, while our EU certification adds a layer of global recognition for students.' About The Soltesz Institute: The Soltesz Institute is a leading professional education platform specializing in banking, payments, and financial technology, offering flexible online, on-site, and CPD/CPE-accredited courses designed for career advancement in the digital finance era. With over 20 years of industry expertise, the institute provides interactive learning materials, corporate consulting services, and access to an exclusive global banking community, all optimized for mobile and tablet learning. Founded by banking expert Viktoria Soltesz and operated by Cyprus-based PSP Angels Management Limited, the institute combines practical knowledge with cutting-edge fintech insights, serving thousands of professionals through its comprehensive course catalog and networking events while maintaining strict compliance with international education standards. 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: For Media Contact: Ms. Shaguftta Perveen Manager Communications, info@
Business Recorder
3 days ago
- Business
- Business Recorder
Meezan Bank, THF ink MoU to assist youths
KARACHI: Meezan Bank has signed a Memorandum of Understanding (MoU) with The Hunar Foundation (THF) to bridge the skills-to-job gap for Pakistani youth. The partnership falls under the umbrella of 'Meezan Justuju', the Bank's flagship Corporate Social Responsibility (CSR) program focused on education, employment, and economic empowerment. The MoU was signed by Syed Amir Ali, Deputy CEO Meezan Bank, and Tahir Jawaid, CEO The Hunar Foundation, at a ceremony attended by senior representatives from both organizations. The program equips participants with market-relevant technical skills, enabling employment and financial independence while also contributing to Pakistan's socio-economic growth. Since early 2024, Meezan Bank has continued to expand its Meezan Justuju initiative, building on previous partnerships with institutions like IBA CEIF (for Islamic Finance certification course) and NED Academy (for IT certification courses). The collaboration with THF marks another milestone in the Bank's mission to support youth through targeted training and employment programs. It will benefit over 150 trainees in the current year alone, helping reshape the national landscape of skill development, employability, and social inclusion. Since its inception, Meezan Justuju has trained over 600 individuals, with many participants successfully entering the workforce within a short period-reinforcing the program's success as a catalyst for financial empowerment and workforce integration. The partnership with THF aligns with national priorities to harness Pakistan's growing youth population by building capacity through vocational training and has the potential to convert the country's demographic potential into a productive economic asset. Copyright Business Recorder, 2025
Zawya
3 days ago
- Business
- Zawya
RAKBANK joins National Bonds' Fintech Al Manassah Platform
Strategic agreement enables seamless Sukuk issuance, subscription, and redemption via a Shari'a-compliant digital platform Partnership aims to drive financial inclusion, operational efficiency, and customers empowerment across the UAE's Islamic finance ecosystem Dubai, United Arab Emirates — In a strategic move to broaden the reach of Al Manassah Sukuk Trading Platform in the UAE, National Bonds, the UAE's leading Sharia-compliant savings and investment company has onboarded RAKBANK (The National Bank of Ras Al Khaimah) onto Al Manassah Sukuk Trading Platform. This collaboration marks a significant milestone in expanding access to one of the country's most established Sharia-compliant digital platforms for Sukuk issuance and trading. Al Manassah is among the region's first Sharia-compliant electronic platforms for trading Mudaraba-based Sukuk for partner financial institutions. Since its inception in 2013, the platform has processed over AED 199 billion worth of transactions, including more than AED 33 billion in 2024 alone; underscoring National Bonds' commitment to enhancing the appeal of Islamic banking while addressing liquidity challenges and lack of a full fintech solution faced by financial institutions through a Sharia-compliant alternative. With 13 partner banks and financial institutions onboard, including two of the UAE's largest Islamic banks, Al Manassah has played a pivotal role in shaping a more agile and inclusive Islamic finance infrastructure. The platform offers a wide range of Sharia-compliant investment tools, supported by bespoke fintech solutions tailored to the needs of modern Islamic finance. Its seamless integration and high-end technology continue to set new standards for operational efficiency and ethical financial practice. The platform enables licensed financial institutions to subscribe, transfer, and redeem Sukuk through a secure, fully automated process 24/7. With RAKBANK now integrated into the platform, more UAE customers will benefit from streamlined Sukuk financial options supported by operational transparency, regulatory compliance, and digital ease. This partnership brings together two institutions with a strong track record in delivering Sharia-compliant financial solutions. RAKBANK will leverage Al Manassah to enhance its Islamic banking offering and execute transactions in real time. Mohammed Qasim Al Ali, Group CEO of National Bonds, stated: 'We are pleased to welcome RAKBANK to Al Manassah. This partnership is another step forward in our mission to empower wider access to the Sharia-compliant platform through fintech and digital innovation. As the UAE continues to lead in digital transformation and inclusive finance—and with the country's ambition to become a global centre for the Islamic economy—collaborations like this are instrumental in turning that vision into reality. By working with like-minded institutions, we are making it easier for individuals and corporates to trade in Sukuk with confidence, efficiency, and peace of mind'. Raheel Ahmed, Group Chief Executive Officer of RAKBANK, said:"This partnership with Al Manassah is a natural extension of our commitment to deliver innovative, Sharia-compliant solutions that empower our customers. By leveraging advanced digital capabilities, we can offer greater accessibility and flexibility to individuals and businesses alike. We are proud to support the UAE's vision to be a global leader in Islamic finance, while further strengthening our Islamic banking proposition and deepening our connection with the Emirati community." National Bonds continues to scale the reach of Al Manassah across the UAE's financial ecosystem. The platform's growing network of partners, automated workflows, and unified trade standards are all underpinned by National Bonds' deep expertise in Islamic finance and commitment to financial empowerment. About National Bonds Corporation Sole Proprietorship PSC: National Bonds Corporation is a Sharia-compliant savings and investment company owned by the Investment Corporation of Dubai, established in 2006. It is licensed and supervised by the Securities and Commodities Authority and is audited by the Dubai Government Audit Department, Sharia Supervisory Board as well as reputable International external auditors. The company provides UAE nationals, UAE residents, and non-residents with an opportunity to build and fortify their savings safety net, as well as invest in programs that offer competitive returns with lower risk. Its goal is to encourage disciplined savings habits for people across the 7 Emirates, in line with the UAE Government's Vision for a financially secure and sustainable future. National Bonds offers an exciting AED 36 Million Rewards Program to all savers, with monthly and quarterly prizes ranging from AED 1 million to various luxury cars. About RAKBANK: RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE. We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX). RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments. With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKIslamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
