Russia’s Sberbank considers Islamic finance entity, to propose regulatory change

(Reuters) – Russia’s largest lender Sberbank is considering setting up an Islamic finance entity and will propose regulatory changes to facilitate sharia-compliant business, a senior bank official told Reuters. Russian banks want to develop Islamic finance to attract investors from the Gulf and Southeast Asia, underscoring efforts to widen funding sources strained by an economic […]

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Why Nigeria should tap into $3trn Islamic finance revenue – Prof Binta

Nigeria should strive to get its slice of the $3trillion global revenue of the Islamic finance market, the Director International Institute of Islamic Banking and Finance (IIIBF), Prof Binta Tijjani Jibril, has said. Prof Binta who spoke with Daily Trust in Abuja said given the multifarious financial problems Nigeria is facing at the moment, looking […]

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Islamic finance, a strong and scalable funding source for global development

New York, September 20 — Successful implementation of the 2030 Agenda requires a significant amount of financial resources, beyond traditional development financing. Innovative approaches are required to unlock new sources of capital. The public and private stakeholders, and investors gathered in New York for the high level side event- ‘Realizing Agenda 2030: How Islamic Finance through […]

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How Islamic finance is helping fuel Malaysia’s green growth

Inclusive and sustainable development looks beyond growth in gross domestic product and can strengthen nations for generations. However, rising income inequality has impeded social mobility, increased social tensions, and undermined effective governance in many countries. We are firmly committed to our twin goals of helping to reduce the number of people living in extreme poverty, […]

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City urges Government to prioritise Islamic finance ahead of possible Brexit boom

 Lucy Burton, financial services editor  The City’s top lobby group is urging the Government to make sure any laws introduced post-Brexit do not dent demand for Islamic finance as enquiries from banks to set up Shariah-compliant services soar. TheCityUK, which represents Britain’s banks and financial institutions, has sent a 32-page report to the UK Government highlighting that assets of UK firms offering Islamic […]

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