WIBC announces leaderboard to foster global Islamic banking

Top performing regional Islamic Financial Institutions are vying for the WIBC Awards recognising the Best Performing Banks at the Global and Regional level. A testament to its vision of advancing the global Islamic banking industry, the 25th World Islamic Banking Conference (WIBC) will continue in its endeavor of enhancing the performance and quality of key Islamic […]

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Islamic banking on the rise

The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to the findings of the 2018 Islamic Banking Index by Emirates Islamic. The index is a benchmark survey revealing the progress, penetration and perception of the Shari’ah-compliant banking sector in the UAE, as well as the future intentions of […]

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GIES: Blockchain Technology Seen To Boost Global Islamic Finance Sector

The adoption of block chain, artificial intelligence, cryptocurrencies and other advanced technologies are expected to have a positive impact on the global Islamic finance sector and create new benefits and opportunities for banks and consumers alike, according to industry experts speaking at the Global Islamic Economy Summit 2018 (GIES) in Dubai. DUBAI, (UrduPoint / Pakistan […]

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Islamic Banking Growing in Africa as Muslim Population Expands

JOHANNESBURG —  When 24-year-old Farhaan Mottiar took over his father’s bridal shop in Johannesburg’s oldest Indian mall, he decided to join a growing movement in Africa: away from traditional banking, and into newly available Islamic banking systems. “It’s the right way forward,” he told VOA in his shop, as he ran his fingers over a […]

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IFSB, AAOIFI partner to strengthen Islamic finance industry

The duo will collaborate in promoting the implementation of prudential, Shari’ah, accounting and governance standards to facilitate the development of the Islamic financial services industry. The Islamic Financial Services Board (IFSB) has signed a MoU with the Accounting and Auditing organisation for Islamic Financial Institutions (AAOIFI) to jointly undertake technical activities relating to development and revision of […]

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Partnership to unleash potential Islamic finance opportunities to implement the 2030 Agenda

The United Nations Development Programme (UNDP), Securities Commission Malaysia (SC) and the Islamic Development Bank (IsDB) have partnered to advance the use of Islamic financing tools to fund the ambitious 2030 Agenda for Sustainable Development. The scale of funding and technical support required to meet the Sustainable Development Goals (SDGs) are far beyond the scope of […]

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Africa emerges as new frontier for Islamic finance

Islamic finance is expanding rapidly in Africa, spreading across 18 African markets with great prospects for growth, according to rating agency Moody’s. While Islamic bond (sukuk) issuance in Africa accounts for only 0.5 per cent of global issuance, the rating agency notes that since 2014 there has been $2.3 billion (Dh8.44 billion) worth of African […]

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Morocco sells first Islamic bonds

  Morocco started selling its first Islamic sovereign bonds worth $116mln with a five-year maturity By Zakia Abdennebi, Reuters News RABAT – Morocco started selling its first Islamic sovereign bonds worth 1.1 billion dirhams ($116 million) with a five-year maturity on Friday, the finance ministry said. The sukuk sale was an Ijara issue in local currency […]

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