Government incentives boost Pakistan’s Islamic banks

* Pakistan adopted tax rebate for sharia-compliant manufacturers * Banker sees signs of higher demand for Islamic financing By Bernardo Vizcaino Nov 23 Pakistan’s Islamic banks are introducing new products and adjusting policies to take advantage of government incentives designed to boost growth in the industry. Sharia-compliant banks in the country, the world’s second most […]

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Governance structures of Islamic finance needs fine tuning

Islamic financial institutions’ business activities must comply with Islamic law (Sharia). Rating agency Standard & Poor’s believe that in view of the fast growth of the Islamic finance industry robust Sharia governance structures is very important. While the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB) have […]

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Africa ripe for Islamic finance

Africa’s development needs are greatly aligned with Islamic finance given the continent’s infrastructure deficit, paving the way for more sharia-compliant products on the continent, according to Imran Mufti, partner at Riyadh-based law firm Hogan Lovells. “Being attached to tangible infrastructure and development projects and assets which are much needed in Africa is in line with […]

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Islamic finance sets sights on centralized sharia boards

By Bernardo Vizcaino A global body for Islamic finance is developing a standard for centralized sharia boards to provide guidance for strengthening corporate governance and increasing the consumer appeal of sharia-compliant financial products. The move is the clearest indication yet that the industry is shifting away from self-regulation, an approach which proved flexible in its early years […]

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Turkey seeks huge piece of Islamic finance pie

Deputy Prime minister in Charge of the Economy Mehmet Şimşek, speaking at the Interest-Free Finance Coordination Board’s meeting on the growing importance of Islamic banking, said the size of the sector globally was projected to grow to $3.5 trillion in the next five years and Turkey aimed to manage a sizeable portion of this huge […]

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Islamic Finance Q&A: Ask the experts at IRAcademy

DONT MISS THIS DATE : Monday the 31st of October Islamic Finance Q&A: Ask the experts at IRAcademy A session with Mohammed Kroessin, Head of Islamic Microfinance Business Unit, Islamic Relief Worldwide & Najib Al Aswad, Associate Director, IFAAS Group This Q&A session will provide you with an understanding of the basic principles that make […]

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