Latest news with #CommodityMurabaha
Gulf Business
5 days ago
- Business
- Gulf Business
DIB leads $1bn Shariah-compliant financing for Government of Pakistan
Image: Dubai Islamic Bank website Structured over five years, the facility includes a significant Islamic financing component, with approximately 89 per cent of the total structured as an AAOIFI-compliant Commodity Murabaha. This underlines Pakistan's continued push to expand its access to Shariah-based funding. The transaction is notable for being partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB). This marks the first time ADB has provided a PBG for such a financing transaction with Pakistan. DIB acted as the Sole Islamic Global Coordinator and also served as Joint Mandated Lead Arranger and Bookrunner alongside Standard Chartered. Other participating institutions included Abu Dhabi Islamic Bank, Ajman Bank, and Sharjah Islamic Bank. Pakistan's minister of finance, Muhammad Aurangzeb, commented: 'This landmark financing arrangement not only underscores the strong confidence of regional and international financial institutions in Pakistan's economic reform trajectory, but also marks an important step in expanding our access to innovative and Shariah-compliant funding solutions. We deeply value the role of partners like DIB and ADB in supporting our efforts to ensure macroeconomic stability and sustainable growth.' Read: Dr. Adnan Chilwan, group chief executive officer of DIB, said: 'This transaction marks a key milestone in demonstrating how Sharia-compliant financing can be scaled effectively to meet sovereign objectives while upholding partnership and prudence. DIB is delighted to have re-introduced Pakistan's credit to the Islamic term financing market after a hiatus of over two years through an innovative structure. We are confident this will pave the way for the Government to access broader pools of Sharia-compliant liquidity in the near future. Developed in close coordination with the Government of Pakistan, the Asian Development Bank, and leading financial institutions, the structure reflects strong alignment between market capabilities and national priorities. It offers a compelling example of how values-driven finance can support tangible, real-economy outcomes. At DIB, we remain committed to enabling such purposeful transactions, ones that serve the present, strengthen resilience, and help shape a more inclusive financial future.' Pakistan's fiscal reforms The transaction serves as a key milestone for sovereign Islamic finance. It demonstrates renewed investor confidence in Pakistan's fiscal reforms and macroeconomic outlook, while also providing a model for other emerging markets to adopt ethical and cost-effective financing. For the Government of Pakistan, it signifies a strategic return to Middle East capital markets after more than two years. For participating institutions, it opens opportunities to support long-term, sustainable economic development and the broader adoption of Islamic finance in sovereign funding.
Mid East Info
5 days ago
- Business
- Mid East Info
ruya leads the Way with New Shari'ah-Compliant Commodity Murabaha in Partnership with DDCAP Group™ - Middle East Business News and Information
ruya (رويا), the UAE's digital-first Islamic bank, is proud to announce a strategic partnership with DDCAP Group™, a global leader in Shari'ah-compliant financial solutions, to launch a next-generation Commodity Murabaha offering for its customers. Through this collaboration, ruya will leverage DDCAP's award-winning, asset-based platform, ETHOS AFP™, to structure and execute Commodity Murabaha transactions, providing customers with access to transparent, Shari'ah-compliant financing solutions. The initiative reflects ruya's mission to build a values-driven digital Islamic community bank delivering ethical and inclusive financial services. From initiation to settlement, all steps of the transaction are conducted digitally, ensuring speed, traceability and a consistent Shari'ah-compliant user experience. This initiative comes at a pivotal time as the UAE accelerates its ambition to become a global capital for Islamic finance and the broader halal economy, in line with the recently approved UAE National Strategy for the Islamic Economy and Halal Industry. The National Strategy emphasizes financial innovation, inclusivity, and the digitalization of Islamic services—principles that are at the heart of this new product offering. Christoph Koster, CEO – ruya 'At ruya, our ambition is to empower our customers through principled, accessible banking. Partnering with DDCAP enables us to bring to market a product that is not only digitally advanced and ethically grounded but also aligned with the UAE's national strategic direction for Islamic Finance.' Stella Cox CBE, FCSI(Hon), Managing Director – DDCAP Group™ 'Our partnership with ruya underlines our joint commitment to advancing Islamic banking through responsibly aligned digital transformation. By integrating ETHOS AFP™, DDCAP's Shari'ah compliant asset-facilitation platform, with ruya's digital banking architecture, our API connectivity brings a new generation of inclusive, Shari'ah compliant financial solutions to serve digital native, faith focused and values conscious customers.' This collaboration supports the UAE's broader strategic goal of becoming a global hub for Islamic finance while advancing financial inclusion and sustainable growth. ———————————————————————————————————— For more information on how to start investing in virtual assets through ruya , please visit . About ruya (رويا): Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support. ruya is also proud to be Great Place to Work® Certified, a testament to its inclusive culture and employee-first values. For media inquiries: pr@ Website: Twitter/X: myruyabank Instagram: myruyabank LinkedIn: ruya Facebook: myruyabank TikTok: @myruyabank YouTube: @myruyabank Snapchat: myruyabank About DDCAP Group™ DDCAP Group™ (DDCAP) is the industry-leading market intermediary and digital solutions enabler, connecting the global Islamic financial market responsibly via its proprietary, multi award-winning platform, ETHOS AFP™ (ETHOS). Outside of its London headquarters, DDCAP's international footprint includes representative offices in Bahrain, the Dubai International Financial Centre, Dubai and Kuala Lumpur. ETHOS is the market leading, multiple award-winning real-time trade and post trade services platform which provides continuous coverage and enables DDCAP clients worldwide to purchase from a responsible, diverse asset inventory via a secure, web-based portal for onward sale to their own clients and counterparties, with functionality delivering an array of benefits and efficiencies whilst mitigating trade and operational risks. DDCAP is committed to developing and supporting awareness of the business and ethical adherence for responsible finance. DDCAP's own commitment to Sustainable and Responsible Actions ('SRA') is reinforced within policy that extends across its corporate environment and infrastructure, business offerings and services and engagement with its stakeholders and other third parties internationally. For media inquiries: communications@ Website: LinkedIn: DDCAP Group™
Khaleej Times
5 days ago
- Business
- Khaleej Times
DIB arranges landmark $1 billion sovereign financing for the Government of Pakistan
DIB, the world's first Islamic bank and the largest in the UAE, has announced the successful completion of a $1 billion syndicated term-finance facility for the Government of Pakistan, arranged in collaboration with a consortium of regional and international financial institutions. The five-year facility is partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB) — marking the first PBG transaction of its kind undertaken by ADB for the country. The Islamic tranche, structured as an AAOIFI-compliant Commodity Murabaha, represents approximately 89 per cent of the total facility which reflects the growing demand for Shariah-based financing and supports Pakistan's strategic objective of expanding Islamic finance. DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner. Other leading Islamic banks from the region included Abu Dhabi Islamic Bank, Ajman Bank and Sharjah Islamic Bank. Pakistan's Minister of Finance, Muhammad Aurangzeb, said: 'This landmark financing arrangement not only underscores the strong confidence of regional and international financial institutions in Pakistan's economic reform trajectory, but also marks an important step in expanding our access to innovative and Shariah-compliant funding solutions. We deeply value the role of partners like DIB and ADB in supporting our efforts to ensure macroeconomic stability and sustainable growth.' Dr Adnan Chilwan, Group Chief Executive Officer, DIB, commented: 'This transaction marks a key milestone in demonstrating how Sharia-compliant financing can be scaled effectively to meet sovereign objectives while upholding partnership and prudence. DIB is delighted to have re-introduced Pakistan's credit to the Islamic term financing market after a hiatus of over two years through an innovative structure. We are confident this will pave the way for the Government to access broader pools of Sharia-compliant liquidity in the near future. Developed in close coordination with the Government of Pakistan, the Asian Development Bank, and leading financial institutions, the structure reflects strong alignment between market capabilities and national priorities. It offers a compelling example of how values-driven finance can support tangible, real-economy outcomes. At DIB, we remain committed to enabling such purposeful transactions, ones that serve the present, strengthen resilience, and help shape a more inclusive financial future.' This facility represents a milestone in sovereign Islamic finance, combining the strengths of regional and international institutions under a robust, Shariah-compliant structure. The inclusion of an ADB Policy-Based Guarantee has played a key role in facilitating Pakistan's return to the international commercial market, while reflecting confidence in the country's ongoing fiscal reforms and macroeconomic resilience. For the Government of Pakistan, the transaction marks a strategic re-engagement with Middle East capital markets after more than two years, demonstrating growing investor trust and a renewed appetite for collaboration through ethical and cost-effective financing solutions. For participating institutions, the transaction offers an opportunity to support sustainable economic development across key emerging markets, while advancing the global adoption of Islamic finance practices in sovereign funding.
Zawya
6 days ago
- Business
- Zawya
Ruya leads the way with new Shari'ah-compliant commodity Murabaha in partnership with DDCAP Group
Ajman, UAE – ruya (رويا), the UAE's digital-first Islamic bank, is proud to announce a strategic partnership with DDCAP Group™, a global leader in Shari'ah-compliant financial solutions, to launch a next-generation Commodity Murabaha offering for its customers. Through this collaboration, ruya will leverage DDCAP's award-winning, asset-based platform, ETHOS AFP™, to structure and execute Commodity Murabaha transactions, providing customers with access to transparent, Shari'ah-compliant financing solutions. The initiative reflects ruya's mission to build a values-driven digital Islamic community bank delivering ethical and inclusive financial services. From initiation to settlement, all steps of the transaction are conducted digitally, ensuring speed, traceability and a consistent Shari'ah-compliant user experience. This initiative comes at a pivotal time as the UAE accelerates its ambition to become a global capital for Islamic finance and the broader halal economy, in line with the recently approved UAE National Strategy for the Islamic Economy and Halal Industry. The National Strategy emphasizes financial innovation, inclusivity, and the digitalization of Islamic services—principles that are at the heart of this new product offering. Christoph Koster, CEO - ruya "At ruya, our ambition is to empower our customers through principled, accessible banking. Partnering with DDCAP enables us to bring to market a product that is not only digitally advanced and ethically grounded but also aligned with the UAE's national strategic direction for Islamic Finance." Stella Cox CBE, FCSI(Hon), Managing Director - DDCAP Group™ "Our partnership with ruya underlines our joint commitment to advancing Islamic banking through responsibly aligned digital transformation. By integrating ETHOS AFP™, DDCAP's Shari'ah compliant asset-facilitation platform, with ruya's digital banking architecture, our API connectivity brings a new generation of inclusive, Shari'ah compliant financial solutions to serve digital native, faith focused and values conscious customers.' This collaboration supports the UAE's broader strategic goal of becoming a global hub for Islamic finance while advancing financial inclusion and sustainable growth. For more information on how to start investing in virtual assets through ruya, please visit About ruya (رويا): Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support. ruya is also proud to be Great Place to Work® Certified, a testament to its inclusive culture and employee-first values. For media inquiries: pr@ Website: Twitter/X: myruyabank Instagram: myruyabank LinkedIn: ruya Facebook: myruyabank TikTok: @myruyabank YouTube: @myruyabank Snapchat: myruyabank About DDCAP Group™ DDCAP Group™ (DDCAP) is the industry-leading market intermediary and digital solutions enabler, connecting the global Islamic financial market responsibly via its proprietary, multi award-winning platform, ETHOS AFP™ (ETHOS). Outside of its London headquarters, DDCAP's international footprint includes representative offices in Bahrain, the Dubai International Financial Centre, Dubai and Kuala Lumpur. ETHOS is the market leading, multiple award-winning real-time trade and post trade services platform which provides continuous coverage and enables DDCAP clients worldwide to purchase from a responsible, diverse asset inventory via a secure, web-based portal for onward sale to their own clients and counterparties, with functionality delivering an array of benefits and efficiencies whilst mitigating trade and operational risks. DDCAP is committed to developing and supporting awareness of the business and ethical adherence for responsible finance. DDCAP's own commitment to Sustainable and Responsible Actions ('SRA') is reinforced within policy that extends across its corporate environment and infrastructure, business offerings and services and engagement with its stakeholders and other third parties internationally. For media inquiries: communications@ Website: LinkedIn: DDCAP Group™
Zawya
17-06-2025
- Business
- Zawya
Empowering Türkiye's Economic Future: Islamic Corporation for the Development of the Private Sector (ICD) and Golden Global Investment Bank Ink USD 20 Million Private Sector Financing Agreement
The Islamic Corporation for the Development of the Private Sector (ICD) ( and Golden Global Investment Bank (the Bank) have entered into a landmark agreement to bolster economic growth in Türkiye. This new USD 20 million Commodity Murabaha Facility is designed to support private sector projects, with a special focus on small and medium-sized enterprises (SMEs) and corporates operating in the agriculture, ship construction and leasing sectors in the Republic of Türkiye. This strategic partnership highlights ICD's dedication to fostering private sector development within its member countries. The facility provided by ICD will enable the Bank to fund a range of private sector projects, particularly in the agriculture, ship construction and operational leasing sectors, which will ultimately contribute to the economic development in Türkiye. Key Highlights of the Agreement: Funding Amount: USD 20 Million Target Sector: Private sector projects, especially Corporates and SMEs Objective: Enhance the SME and Corporates landscape in Türkiye by providing essential resources for business growth and development Strategic Alignment: Supports ICD's Private Sector Channel Development Strategy The agreement underscores the critical role of private sector financing in economic development. By facilitating access to financial resources, the initiative will help bridge funding gaps for SMEs and corporate clients, driving innovation and fostering a more robust and diverse economy. Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD). For further details, please contact: Nabil El-Alami Communications&Corporate Marketing Division Manager nalami@ About Golden Global Investment Bank: Golden Global Investment Bank was established on 15 October 2019 with the permission on 29 May 2019 from the Banking Regulation and Supervision Agency and started its activities on 1 June 2020. The Bank performs all kinds of Investment Banking activities in accordance with the principles of interest-free finance (Sharia-compliant financing), without collecting deposits and funds through special current and participation accounts specified in the Banking Law and relevant legislation. About the Islamic Corporation for the Development of the Private Sector (ICD): ICD is a member of the Islamic Development Bank (IsDB) Group and focuses on supporting economic development and private sector growth in its member countries through Shariah-compliant financing and investment solutions. ICD also offers advisory services to foster the establishment, expansion, and modernization of private enterprises. The organization is highly rated by international credit agencies: A2 by Moody's, A+ by Fitch, and A- by S&P.
