With the many challenges Russia’s economy is currently facing, now is the time to shore up relationships with regions in which Russia has had continued success. With that in mind, Russia has set off on a path towards greater participation in Islamic finance and the broader Islamic economy. Three major banks—Vnesheconombank, Sberbank and Tatfondbank—all signed […]
Islamic finance assets grew by 10 percent to reach $2 trillion in 2015, according to a new report by Thomson Reuters. Islamic banking represented 73 percent of these asset, followed by sukuk which represented 17 percent, said the initial findings of ICD Thomson Reuters Islamic Finance Development Indicator (IFDI 2016). The increase in assets was […]
A clock is seen inside the lobby of the headquarters of Fitch Ratings headquarters in New York, February 6, 2013. REUTERS/Brendan McDermid (UNITED STATES – Tags: BUSINESS) Reuters/Brendan McDermid JEDDAH: Sukuk issuance from key markets in H1, 2016 rose 11 percent compared to a year earlier, according to Fitch Ratings’ analysis, underlining our expectation for […]
Following its recent Sukuk default, the IMDB corruption scandals continues to cast a dark shadow over the Malaysian financial sector with this week the United States moving to seize more than $1bn in assets, ranging from plush properties to a private jet, from people connected to Prime Minister Najib Razak. Against this backdrop, Islamic finance […]
Islamic finance ‘could benefit Italy after Brexit’ (by Elisa Pinna) ROME – Investors from the Islamic financial world could be the answer to Italy’s woes in the wake of the Brexit, according to participants in a recent conference organized by Nctm finance law firm. The conference was attended by Foreign Undersecretary Vincenzo Amendola, Lower House […]
A BCA Syariah staff member serves a customer after an opening ceremony at its headquarters on Jl. Jatinegara Timur in East Jakarta on April 5, 2010. (The Jakarta Post/P.J. Leo) The performance of the Islamic banking industry in Indonesia has yet to satisfy the public’s expectations. Although with a market of more than 200 million […]
Oman currency; money; bank note; investments; lstock Recent regulations on sukuk (Islamic bonds) are helping drive growth in Oman’s Islamic banking sector, with sharia-compliant lenders gaining ground. 26 June 2016 Recent regulations on sukuk (Islamic bonds) are helping drive growth in Oman’s Islamic banking sector, with sharia-compliant lenders gaining ground. Growth of Islamic banking is […]
The future exit of the United Kingdom from the European Union is to be one of the most profound political, economic and legal events in the country’s recent history. For those who seek to engage with Islamic Finance and attract Islamic compliant investment to the UK, there are opportunities in the upheaval. What’s changed and […]
Zak Hydari, the chief executive of Rasmala. Reem Mohammed/ The National Islamic banks and asset managers based in London have played down the impact of the UK vote to leave the European Union, amid wider fears the move could spell an exodus from the world’s financial capital. The Brexit result has caused turmoil in the […]
Sultan Ahmed Bin Sulayem rings the market-opening bell to celebrate the listing on Nasdaq Dubai Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World, rang the market- opening bell today to celebrate the listing on Nasdaq Dubai of a US$ 1.2 billion Sukuk – the Islamic equivalent of bonds. The listing […]
