Russia, new frontier for Islamic finance

MOSCOW By Dmitriy I. Frolovskiy Islamic finance is drawing more interest in Russia as the country struggles economically and requires fundamentally new approaches to attract investments from abroad. The sector is just beginning to grow in Russia and its perspectives were discussed during the recent Gaidar’s Forum in Moscow, one of the major annual international […]

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Australia sees nascent growth in Islamic finance despite tax concerns

A man walks past the logo of Al Rajhi International for Investment at the headquarters building in Khartoum North, Sudan January 13,2016. REUTERS/MOHAMED NURELDIN ABDALLAH Australia has begun to see a steady stream of property deals using Islamic financing as the attraction of low-risk tenants and a weak Australian dollar offset concerns about the lack […]

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Kenya reviews Islamic finance laws ahead of debut sukuk

Kenya is reviewing all laws and regulations governing its nascent Islamic finance industry to aid the issuance of a debut Islamic law-compliant bond known as a sukuk, its attorney general said on Wednesday. The East African nation, which issued its first Eurobond in 2014, wants to expand the range of financing available for infrastructure projects like roads […]

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Italy’s mini-bond rules may be adapted to Islamic finance

Feb 16 A law firm and an Islamic finance advisory firm are working to adapt Italy’s "mini-bonds" legislation to provide sharia-compliant funding options as an alternative to bank lending. Three years of recession have limited funding for Italian companies, in particular for smaller firms, which is encouraging the use of less traditional funding sources such […]

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Worldwide Halal food; lifestyle market to reach US$ 3.7 trillion by 2019

Over 800 Halal certified companies set for Halal World Food at Gulfood 2016 as major international retailers explore new products in Dubai re-exports boost Halal sector opportunities to come under conference spotlight at Gulfood Halal Forum Dubai, UAE: Worldwide spending on global Halal food and lifestyle products could rise 10.8% a year until 2019 to […]

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Islamic Finance: Implications for the Global Economy

As more Western companies do business in the Middle East, Islamic finance has become an increasingly important part of the world economy.But Islamic finance follows different rules than conventional Western economies, in keeping with sharia, the Islamic legal system. Demand for sharia-compliant banks is growing rapidly, with Ernst & Young projecting an annual growth rate […]

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Islamic banks to sustain robust growth in Oman, says CBO official

Muscat – Oman’s Islamic banks have achieved robust growth in finance, which crossed OMR1.6 billion by the end of November 2015. The Islamic banks and window operations achieved a 65.49 per cent growth in finance, which touched OMR1,644.5 million by end-November 2015, against OMR993.7 million for the same period last year. “Islamic banks grew very […]

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