Several Shariah compliant investment offerings became available over the past week, together with the announcement of significant deals.
UAE Shariah compliant digital real estate investment platform Stake officially launched in Saudi Arabia – becoming the first platform regulated by the Saudi Capital Market Authority (CMA) to allow international investors to access Saudi real estate opportunities. Stake is collaborating with Mulkia Investment Company to offer income-generating assets across residential and commercial sectors.
Bursa Malaysia RAM Capital launched a secondary market for its debt fundraising and investment platform – which enables investors to buy or sell investment notes to provide flexibility and liquidity after the initial issuance or subscription of the investment notes. Also, Bursa Carbon Exchange commenced its continuous trading service offering of Gold Standard carbon credits.
Saudi Arabia’s CMA approved the public offering of the Alinma Endowment Investment Fund and further granted Watheeq Capital and Nama Portfolio Capital Company licenses to conduct management of investments and operation of funds in the securities business.
Significant deals include Alliance Islamic Bank underwriting the public portion of the cafe chain operator Oriental Kopi Holdings IPO toward a listing on Bursa Malaysia’s ACE Market.
InterContinental Hotels Group inked a deal for two new hotels in Madinah, opening January 2029, adding 1,057 rooms with a focus on hospitality for Umrah and Hajj pilgrims. Investcorp acquired four student housing properties, located near US universities and totaling nearly 3,000 beds worth over US$300 million.
Bahrain’s Ahli United Bank launched the investment product nama’a, developed in partnership with SAVE Technologies, for its private banking and wealth management clients.
Abu Dhabi Islamic Bank will identify and support at least two paid start-ups annually, following a deal inked with Hub71 – a diverse hub for entrepreneurship providing start-ups with access to capital, which is supported by the Abu Dhabi Department of Economic Development and Mubadala Investment Company.
The Saudi National Debt Management Center signed an MoU with Tarmeez Capital to establish frameworks for cooperation – aiming to enhance collaboration with the private sector to develop and launch new government-supported savings products. Meanwhile, Pakistan’s National Savings Department cut the profit rate on Islamic savings accounts for fifth straight month.
Further, the Securities and Exchange Commission of Pakistan (SECP) approved the Strategic Action Plan 2024-2026 to facilitate the growth and development of Islamic finance in non-bank financial sectors – an initiative that includes the Pakistan Stock Exchange, Central Depository Company, National Clearing Company of Pakistan, SECP policy department heads and industry experts.
Related developments include Singapore’s OCBC and Malaysia’s CIMB reportedly submitting non-binding offers for a controlling stake offered by Australia’s ANZ and Indonesia’s Gunawan family in Bank Pan Indonesia (Panin Bank).
Al Rayan Bank became the first Shariah compliant bank in Qatar to join the Partnership for Carbon Accounting Financials – a global collaboration of financial institutions dedicated to harmonized assessments and disclosures of greenhouse gas emissions associated with its lending and investment portfolio.
