In the past week, we have seen new Islamic investment opportunities with the Shariah compliant IPO of Alef Education Holding offering 1.4 billion shares, representing 20% of its share capital, ahead of its listing on the Abu Dhabi Securities Exchange.
Sedco Capital Multi Asset Fund, ahead of its listing on the main market of the Saudi Exchange (Tadawul), is open for subscriptions until the 6th June 2024. And evolving investment strategies come with the latest offering from the eToro platform using Arabesque AI for a new Shariah compliant portfolio.
Saudi Arabian sovereign wealth fund Public Investment Fund (PIF) reduced its holdings of US-traded stocks — down with a market value of about US$18 billion as of the 31st March 2024, from US$35 billion at the end of 2023, according to an analysis of a Form 13F filed with the US Securities and Exchange Commission.
Regulations for the Islamic landscape is making headway in Uzbekistan, where its central bank is expected to provide some clarity for Shariah investments with a bill to parliament to be introduced later in 2024. The UAE announced the formation of the Shariah Oversight Committee for Endowments in the Emirate of Sharjah.
In Malaysia, entities conducting Islamic financial activities in Labuan, including investment and securities activities, are exempted from income tax for five years until 2028. Bursa Malaysia is going to issue more alerts for stocks with unusual price and/or volume changes. This alert is in addition to the unusual market activity queries by the exchange.
This week, IFN Investor has a special focus on Takaful Maldives charting gains by investing in Shariah treasury bills, XTCC presenting its own unique take on carbon trading and insights by Turkiye’s BTD on the evolution of digital investments. Also, touching on wealth preservation, how do you ensure Shariah compliant successions to your heirs? While such planning is quite common practice among Asian families, the Islamic component is a relatively newer field to explore.
