Islamic finance roundup: Abu Dhabi Islamic Bank launches fractional sukuk platform
Here's a roundup of key developments across the Islamic finance ecosystem during April
Editor's note:
In a season of firsts, a UAE lender has launched an innovative solution to lower traditional barriers to entry for sukuk investments, claiming to be the first across the country to unveil such an initiative. Oman's Ahlibank facilitated the issuance of the sultanate's first Islamic commercial paper.
Company News
United Kingdom
Ayan Capital secures £25m to expand halal vehicle finance in UK
Ayan Capital, a halal vehicle financing provider, received £25 million in Sharia-compliant funding from Partners for Growth (PFG).
This investment supports the rising demand for Islamic finance in the UK and reinforces Ayan Capital's market position. Ayan offers Sharia-compliant business car financing, particularly for private hire drivers and those seeking low-emission vehicles. (Motor Finance Online)
UAE
Abu Dhabi Islamic Bank becomes first bank to offer fractional sukuk
Abu Dhabi Islamic Bank (ADIB) has launched 'Smart Sukuk' - a digital platform enabling investments in fractionalized sukuk certificates via its mobile app.
The initiative lowers the investment threshold to $1,000, expanding access to Sharia-compliant investments for retail investors, who previously faced minimums of $200,000.
The platform allows retail investors to diversify portfolios with Sharia-compliant securities. (Zawya)
Bahrain / Kuwait
Bahrain's BBK, Solidarity sign Islamic Murabaha financing deal
Bank of Bahrain and Kuwait (BBK) has provided Solidarity Group Holding with a 58 million Bahraini dinar Islamic Murabaha financing agreement to facilitate its acquisition of Bahrain National Insurance (BNI).
The agreement reaffirms BBK's role in advancing Bahrain’s economic development by delivering Sharia-compliant financial solutions.
BBK's group chief executive, Yaser Alsharifi, highlighted the bank's dedication to supporting large-scale investments in the kingdom through impactful partnerships. (Zawya)
Oman
Ahlibank facilitates issuance of Islamic commercial paper for Oman Flour Mills
Ahlibank's investment banking division advised Oman Flour Mills on issuing Oman's first Islamic Commercial Paper (ICP), raising 10 million Omani riyals.
The ICP will fund Oman Flour Mills' working capital. The bank aims to drive financial inclusion and support Oman's economic diversification through Sharia-compliant financial instruments. (Zawya)
Investment
Pakistan
Haball secures $52m funding to grow Islamic finance business
Pakistan's fintech firm Haball secured $52 million in funding, led by Zayn VC and Meezan Bank, to expand its Shariah-compliant supply chain financing and payment services in Pakistan and the Middle East.
The funding, comprising $5 million equity and $47 million strategic financing, will address the significant financing gap for SMEs in Pakistan, where supply chain finance is expected to exceed $9 billion. (Geo News)
