Algeria has launched Islamic finance products in a bid to attract money from the informal market, but bankers warn it will take more to fix the country’s struggling economy. Falling oil prices and the coronavirus pandemic have battered the North African country, triggering alarm bells among officials and experts. The International Monetary Fund (IMF) forecast […]
KUALA LUMPUR, — Asia Pacific Investment Bank (APIB) aims to cooperate with domestic financial institutions to promote the internationalisation of the Islamic finance industry. APIB chief executive officer Chris Wang is confident that APIB could be the bridge that connects Malaysia and China. “Being an offshore Islamic bank with a Chinese background, we are confident […]
JAKARTA – Indonesia’s finance ministry issued retail sukuk SR013 as part of the government’s efforts to finance the recovery of the country’s pandemic-hit economy. Indonesia’s GDP contracted 5.32% in the second quarter due to the COVID-19 pandemic crisis, representing the country’s worst quarterly performance since the 1998 Asian Financial Crisis. The sukuk has an indicative value of […]
By Omar Faridi The stakeholders and other ecosystem participants of the Islamic Fintech sector have outlined key priority areas that they believe will help with reinforcing and promoting financial inclusion in Malaysia. The REDmoney Group, an Islamic Finance News publisher, and the Malaysia Digital Economy Corporation (MDEC) have recommended that industry participants should establish an Islamic Fintech taskforce. They’ve […]
The wider adoption of technology could simplify the Islamic finance sector and help it attract more digital-savvy millennials FinTech has spurred the evolution of the Islamic finance industry over the last year. It helps to address a need for simplification and innovation in the sector, which will support longer term acceptance and growth. More importantly, […]
BY HASSAN JIVRAJ Kenya is positioning itself as a hub for Islamic finance, aiming to lead in the region of East Africa and across Middle Africa. A predominantly Christian country with a minority 11% Muslim population, Kenya’s financial sector has been home to Islamic banks and takaful operators for more than a decade. The East African […]
KUALA LUMPUR (July): The stakeholders and ecosystem players of the Islamic financial technology (fintech) space have determined nine strategic priority areas that will further reinforce and enhance financial inclusion in Malaysia. Islamic Finance News publisher REDmoney Group and the Malaysia Digital Economy Corporation (MDEC) said in a joint statement that of these strategic priority areas, […]
By Kris Crismundo MANILA – The Department of Trade and Industry (DTI) is encouraging public and private financial institutions in the country to offer Islamic banking and financing services amid the coronavirus disease 2019 (Covid-19) pandemic. In a statement Monday, the Export Marketing Bureau (EMB) said offering Islamic financing will help micro, small and medium enterprises […]
Islamic Finance – Exploring a potential growth engine for African economies. Date: Tuesday, 25 August 2020 Time: 14:00 EAT Register here>> We are pleased to bring you this webinar, in conjunction with the Financial Sector Deepening Africa (FSD Africa) which will centre around the recently published Islamic Finance toolkit. by FSD Africa. The main objectives of the webinar […]
By MICHAEL LLOYD, An Islamic peer-to-peer lending platform has launched in the UK, providing Shariah-compliant finance to small- and medium-sized enterprises (SMEs). Salaam Gateway reported that Qardus, which is an appointed representative of Financial Conduct Authority-regulated ShareIn, provides unsecured loans of up to £100,000 in the form of a commodity murabahah, an Islamic financing structure in which […]
