Indonesian exporters benefit from Islamic alliances

The SPV is one of the largest syndicated loan facilities arranged for a Malaysian unlisted company and will help expand the country's digital capabilities.

The Net-Zero Banking Alliance has updated its guidelines amid a flurry of high-profile exits from the global group, including Macquarie, Mizuho Financial Group, Nomura and JP Morgan.

The decision comes after several US banking groups left the NZBA over the last six months.

Slowing loans, M&A and ECM hit banks' fees last year. Technology, exports and bonds are bright spots, while Hong Kong is increasingly being seen as a place to raise foreign capital. PBOC's governor Pan Gongsheng wants a proactive policy approach.

The US administration wants to take retaliatory action for China’s rare earth export controls. US stock markets and cryptocurrencies lost billions of dollars in value on October 9, while gold has reached $4,000 an ounce. China's commerce ministry said "we aren't afraid to fight".

Regional improvements in trading platforms, settlement systems and regulatory frameworks should help make Islamic finance more accessible.