The Islamic Development Bank has launched a $1 billion financing plan to support renewable energy. Working with the Arab Petroleum Investment Corporation, the initiative will support utility projects in the 57-member Organization of Islamic Cooperation countries. The funds will be for electricity generation and transmission projects using ren...
The administration of US President Joe Biden on Tuesday said it will contribute roughly $308 million in humanitarian aid to Afghanistan. But the newly announced aid falls far short of the war-torn country’s immediate needs. Millions of Afghans are on the brink of starvation and at risk of freezing to death in the aftermath of […]
Mali’s military ruler said on Monday he is open to talks with West Africa’s economic bloc ECOWAS about returning the nation to civilian rule. President Assimi Goita asked the group to reconsider sanctions imposed on Mali over his refusal to hold elections next month. Goita said in a statement broadcast on state television “we’re asking [&helli...
Sukuk issuance surged Tuesday by 36% year-on-year to hit $252.3 billion in 2021, according to Fitch Ratings. A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law, or sharia. Central banks, governments, and multilateral institutions dominated sukuk issuances, the global rati...
