Dear All,
as salamu alaikum,
as part of my book project I developed a simple tool for Islamic stock screening. What does it do?
- data pull from Google Finance and MarketWatch
- Calculating cash and debt compliance criteria versus 220days average market cap
- Zakat calculation per share for the zakatable asset approach, if held for investment
***Telegram Group for discussion on Islamic stock screening:
https://t.me/islamicstockscreening
***Live Google Sheet:
https://docs.google.com/spreadsheets/d/1VJYojBUrftJkAZRTcdbmN4TAsvaC1eas...
***Resources:
https://github.com/IslamicWealthManagement/Googlesheet
The tool is under a GLP-3.0 License and be used and amended privately with no charge. Users are encouraged to verify and improve the tool for mutual sharing. No warranties given. Feedback directly or via Telegram group highly welcomed. Is your market avalaible, or do you desire a screening for your market?
Other Screening tools are:
Idealratings: https://www.idealratings.com/
Halal Investors: https://halalinvestors.com/
Islamicly: https://www.islamicly.com/
Zoya Finance: https://zoya.finance/
Dear Writers,
Whether you are an academic or practionner: If you wish to see your paper published on IslamicFinance.de please send us the relevant document along with a confirmation that you hold the copyrights of it and we can upload the work with your abstract provided.
As simple as that!
Best regards,
Michael Saleh Gassner
Sustainable Development Key Performance Indicators (SD-KPIs) are three particularly material environmental, social and governance (ESG) indicators for the expected business development of 68 different sectors.
The copyrighted SD-KPI Standard 2016-2021 was published by SD-M® on behalf of the the Federal Ministry for the Environment (BMU) and with support of the Sustainability Accounting Standards Board (SASB). A Japanese, Chinese and Arabic translation is also available:
https://www.sd-kpi.com/files/SD-KPI_Standard_2016-2021_Arabic.pdf
According to the BaFin Guidance Notice on Dealing with Sustainability Risks, ESG risks should be strategically considered, e.g. by means of SD-KPI Standard 2016-2021. The Guidelines (German) to the Sustainability Code of the German Council for Sustainable Development recommend the SD-KPI Standards for materiality analysis.
The Big Six® are the six most important challenges for sustainable development in 21st century:
climate change
freshwater scarcity and pollution
deforestation and desertification
absolute poverty
loss of biodiversity
population growth and migration
Russian state-owned Sberbank will establish a presence in Abu Dhabi by the end of the year. Sberbank has also signed an agreement with Abu Dhabi sovereign investor Mubadala Investment Company. The agreement covers cooperation in areas including co-investments, debt and equity financing, long-term financing of Mubadala projects in Russia and other territories. It also includes the potential cooperation and investments in a broad range of areas including Islamic finance, artificial intelligence, cybersecurity, life sciences, venture capital, telemedicine and education. The bank is new to Islamic finance. In August it announced that it had structured a trade finance deal, its first-ever, with the International Islamic Trade Finance Corporation (ITFC).
Islamic banking in Central Asia, namely in the Commonwealth of Independent States (CIS) is developing fast and is on the best way to become integrated into the global Islamic finance industry. One sign for this are the currently ongoing preparations for the CIS Islamic Banking and Finance Forum 2020 to be held from August 13 to 15 this year in Tashkent, Uzbekistan. The event will focus on a broad variety of Islamic banking themes, including financial inclusion and poverty alleviation, takaful, sukuk and Islamic microfinance, the introduction of Islamic finance and operations in the region and their potential, regulation, auditing and Islamic finance contracts, Islamic fintech, the role of Islamic Finance in reaching the United Nation's Sustainable Development Goals, as well as general investment opportunities in the CIS member states.
Despite the attempts of the government of Kazakhstan to make its Islamic finance market more attractive, Islamic products are still rarely used in Kazakhstan. Nevertheless, the government is continuing its efforts to create a favorable legislative and regulatory framework for the development of Islamic finance so that Kazakhstan can become a regional hub. The recently established Astana International Financial Center (AIFC) aims to become the most attractive platform for the development of Islamic finance in the region. To ensure Sharia compliance, the AIFC established the International Expert Council for Islamic Finance (International Council) and the Central Council of the AIFC on the principles of Islamic finance (Central Council).
Russia's state-controlled Sberbank will acquire 25% of the PayZakat platform that collects charity for Muslims in need. PayZakat is a start-up that won Sberbank’s first Sber#Up corporate accelerator competition for its own employees, and the bank sees global and universal potential for the platform. The PayZakat platform allows its users to calculate their contribution amount, and channel it to the charity of their choice. Chat bots integrated into social networks help with the process and provide status updates on the contribution. Sberbank is at the forefront of Russian digital development and is preparing to launch its Sber digital ecosystem in the short- to medium-term.
Qatar's Hamad Bin Khalifa University (HBKU), Al-Farabi Kazakh National University, and Astana International Financial Centre (AIFC) have opened an Islamic Finance Centre (IFC) in Kazakhstan. The opening ceremony was attended by HBKU president Dr Ahmad M Hasnah, along with the rector of Al-Farabi University, Dr Galym Mutanov, and AIFC board vice chairman Yernur Rysmagambetov. The IFC is equipped with the most advanced technological tools offering training programmes with the aim of becoming a research hub and educational cluster in Islamic finance. HBKU's College of Islamic Studies (CIS) will support this centre and the two institutions will be working on student exchange programmes, joint conferences, and mutual research projects.
Astana International Financial Center (AIFC) aims to be the driver of the Islamic finance development in Kazakhstan. For this, the AIFC is strengthening its capacity building by establishing the Bureau for Continuing Professional Development. AIFC managing director Yernur Rysmagambetov said two programs habe been launched. One of them is aimed at the training of specialists for the banking sector. The second program is focused on literacy of the end users on Islamic finance. The corporate sector is the main customer of the Islamic banks in Kazakhstan. Attraction of the retail customers in the Islamic finance is another trend of the past years.
The International Islamic Trade Finance Corporation (ITFC), the Ministry for Foreign Trade of Uzbekistan and the United Nations Development Program (UNDP) have come together for the first trade finance workshop titled "Trade Finance as a Key Factor in Trade Promotion". ITFC's chief operating officer Nazeem Noordali said that ITFC and the government of Uzbekistan signed a $100 million framework agreement to finance pre-export and import activities in the country. He added that ITFC was working closely with its partners to promote Islamic trade finance among the Uzbek banks and non-banking financial institutions.
Russia's Vnesheconombank (VEB) and the Islamic Development Bank (IDB) Group will establish a Partnership Fund. According to VEB Chairman Sergei Gorkov, the joint fund will be based on the principles of Islamic finance and will aim at promoting investment in the Russian economy and financing high technologies. The joint contribution of VEB and the IDB Group to the fund's capital will amount up to $100 million. Third-party investors will be involved as well. Gorkov added that the Middle East market is one of the strategic areas of cooperation for Vnesheconombank. It plans to open a representative office in Abu Dhabi, the United Arab Emirates, and create a Russian business desk there. It will provide access to sales and capital markets in the region and create opportunities for partnership with local players.
Click here to apply http://bit.ly/2tN5RAZ
Purpose of this call is to invite private and public sector to share their good practices on
•Islamic finance funded impact investments and dedicated vehicles
•impact investment vehicles in the OIC region
•Islamic social finance vehicles
for the mapping study that is being carried out under the Global Islamic Finance and Impact Investing Platform (GIFIIP). The selected cases will be analysed by the research team managed by IICPSD and IRTI. Subsequently the good practices, information on vehicles and further findings will be published as part of the study.
Investment Focus
Sberbank of Russia (SBR) has signed a Memorandum of Understanding (MOU) with the Islamic Corporation for the Development of the Private Sector (ICD) to help the bank’s clients access Islamic finance products. ICD senior regional manager Samir Taghiyev said the MoU would reinforce SBR efforts to develop Russia as a strong hub. He added that the ICD would help share its knowledge to develop the corporate, retail and private banking as well as the training needed. The MoU was signed by Okan Altasli, the Director of Regional offices at ICD and Oleg V Ganeev, Deputy Chairman of SBR. The document was signed on the sidelines of the 1st Russian Islamic Economy Forum co-organized by ICD, IAIB, Sberbank, KPMG and Thiqah in Moscow.
Elshan Rahimov, chairman of the Cooperation of Azerbaijan and Arab Countries Public Association, said the introduction of Islamic banking in Azerbaijan was being delayed.
It is well established that good corporate governance strengthens institutions and financial sectors, and in so
doing contributes to building strong economies and economic growth.
Deficiencies in corporate governance were among the factors that contributed to the global financial crisis
(GFC) of 2007–08. As a result, global standard setters such as the Basel Committee on Banking Supervision
(BCBS) and the Organisation for Economic Co-operation and Development (OECD) have been updating and
strengthening their guidelines on good governance practices.
The Islamic Financial Services Board (IFSB), which sets standards for Islamic financial institutions, published its
Guiding Principles on Corporate Governance in 2006 as its standard IFSB-3. The Principles address, within the
context of corporate governance, the distinct features of Islamic banks, such as the different relationship that
they have with some of their stakeholders.
More:
In this interview Madina Kalimullina, adviser on Islamic economics, speaks about the Moscow Halal Expo and Islamic banking in Russia. Although legislation for Islamic banks is still missing, special groups in the Central Bank and the State Duma have been working on this topic. Today the state officially recognizes the concept of partner banking, which can be called Islamic banking. At the Moscow Halal Expo a halal installment plan was proposed, which removes all elements prohibitied from the point of view of Islamic standards. Over the last 8 years all international Sharia standards of Islamic financing were translated into Russian. So banks are gradually testing new products. This year's exhibition has two main topics. The first is cryptocurrencies and the second is multi-level marketing.
Sberbank is considering setting up an Islamic finance entity and will propose regulatory changes to facilitate sharia-compliant business. Vnesheconombank and Tatfondbank are also developing Islamic finance products. Legislation will need to be passed in Russia to make Islamic finance cost-effective. Taxation is often an obstacle, as transactions have double or triple tax duties since they require multiple transfers of underlying assets. Sberbank is currently testing pilot transactions in leasing, financing food production and trading. Oleg Ganeev, deputy chairman at Sberbank, said the decision on whether to set up a separate entity could come by next year. He added that local businesses could also consider issuing sukuk, as they have a variety of tangible assets that can support such deals.
The Islamic Development Bank (IDB) is investing more than US$2 billion into innovative projects in Kazakhstan. The three major initiatives are the establishment of an organization on food security of Muslim countries, a project of integration of Islamic infrastructure and the establishment of the Astana International Financial Center. IDB CEO Bandar Bin Mohammed Hajjar said the investment would strengthen the bilateral relationship between the IDB and government of Kazakhstan. The IDB has recently established the Foundation for Development of Science, Technology and Innovation. In addition, the bank undertakes the creation of the cooperation ecosystem, which should unite efforts of governments, businessmen and scholars of Islamic countries, and allow to realize the most advanced ideas into ready-made, commercial products.
Al Hilal Bank opened its first client service branch in Almaty, which provides a full range of Shari'ah compliant banking services for corporate and private customers. Bank customers can now use deposit products, debit cards, and cash management services, while the investment deposits are a new and unique product for the market of Kazakhstan. Focusing on the needs of customers, the bank plans on launching a programme to finance individuals in the near future. Speaking at the branch opening, Gordon Haskins, CEO of Al Hilal Bank Kazakhstan, said that Islamic finance had a great potential for development and Al Hilal Bank aimed to bring benefits and establish benchmarking of Islamic financial instruments in the region. Al Hilal was established in 2010 as the first Islamic bank in Kazakhstan and the CIS region. It is a subsidiary bank of Al Hilal Bank PJSC, which is fully owned by the Government of the United Arab Emirates.
Sberbank received official certification for its Mudaraba Finance transaction from Shariyah Review Bureau (SRB). The bank also reaffirmed that it would remain fully committed to Sharia compliant financial activities for its customers. Sberbank, based in Moscow, currently has 16 thousand branches in all 83 constituent entities of the Russian Federation. It is the largest bank of Russia and the leading financial institution in the country. Yasser S. Dahlawi, CEO and Founder of SRB, noted that the Shariyah Review Bureau would continue to review and supervise Sberbank’s transaction and sharing best practices of the Sharia complaint marketplace.