The Guiding Principles were officially signed in a ceremony today at the Abu Dhabi Sustainable Finance Forum (ADSFF) during Abu Dhabi Sustainability Week. Press Release Dubai, UAE: The DFSA, together with a group of leading authorities in the UAE, has published the UAE’s first Guiding Principles on Sustainable Finance (the Guiding Principles), which will serve as […]
ABUJA, Jan (Reuters) – Nigeria plans to issue sukuk bonds worth 150 billion naira ($490 mln) on the local market this year, the Debt Management Office said on Friday. The debt office said the funds would be used for road projects. ($1 = 306.40 naira) (Reporting by Camillus Eboh and Chijioke Ohuocha; Editing by Alison […]
Islamic finance is ‘going digital’ to better serve the world’s 1.8bn Muslims. Still, it’s uncertain if religious fintechs can attract a critical mass, and compete with their European secular peers. By Isabel Woodford Fintech is a crowded space. But a new subgenre is emerging to attract the world’s 1.8bn Muslims with a Shariah-compliant alternative. Young Muslims want […]
Despite the slower growth, total assets across the industry grew to RM10.3t in 2018 from RM10t previously by HARIZAH KAMEL / pic by BLOOMBERG ISLAMIC finance industry growth slumped to 3% in 2018 from the previous year’s 7%, marking the second-slowest expansion after 2014 since the Islamic Finance Development Indicator (IFDI) report was introduced in […]
As the new year 2020 enters its first full week, a review of developments that shaped Islamic Finance in Nigeria in the year 2019 appears below: Islamic Finance Global Asset Size According to the Islamic Financial Industry Stability Report, the current global size of the market is $2.19trn, which attests to a remarkable growth post-2008 […]
By Arno Maierbrugger/ Gulf Times Correspondent/ Bangkok With the approval of a new Islamic banking law in the Philippines by the country’s central bank last December, doors are now open for both domestic and foreign banks to open a Islamic banking window or to establish a subsidiary Islamic bank in the country with millions of […]
By LEE C. CHIPONGIAN The Bangko Sentral ng Pilipinas (BSP) has released the guidelines for the country’s Islamic banks and Islamic banking units (IBUs) and approved the Shari’ah Governance Framework (SGF) to ensure compliance to the banking requirements. BSP Deputy Governor Chuchi G. Fonacier signed the two circulars for the establishment of Islamic banks and […]
By HARIZAH KAMEL SMALL and medium enterprises (SMEs) are not fully utilising various solutions provided by Islamic banks due to a lack of awareness but it is a problem that can be addressed. The Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) acting ED Ratna Sha’erah Kamaludin said local SMEs are not fully utilising […]
Egypt will issue its first corporate sukuk, or Islamic bonds, within weeks, a Financial Regulatory Authority (FRA) official said on Tuesday. CIAF Leasing, an aircraft leasing company, will issue sukuk worth $50 million, the first in Egypt to do so, Sayed Abdel Fadil, an FRA departmental head, told Reuters. A second company, a contractor, will […]
Wong Swee May – The Edge Financial Daily KUALA LUMPUR: CIMB Islamic Bank Bhd has unveiled its latest proposition in supporting small and medium enterprises (SMEs) to grow their businesses in the global halal market. Through CIMB HalalBizReady, the proposition provides financing packages that help businesses become compatible with the requirements of halal certification by […]
