Islamic finance calls for more talents

By MOHAMMAD MAHBUBI ALI ISLAMIC finance has witnessed, over the last few years, a remarkable growth at 15 to 20 per cent Compounded Annual Growth Rate (CAGR), emerging as one of the fastest growing financial sectors in the world. The total assets of the Islamic financial industry in 2015 was around US$2 trillion (RM8.3 trillion) and […]

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Saudi Arabia joins Islamic finance body, could boost cross-border deals

(Reuters) – Saudi Arabia’s central bank has joined an international standard-setting body for Islamic finance, a move that could help standardise industry practices and ease cross-border transactions in the Kingdom. The Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) said in a statement late on Sunday it had admitted the Saudi Arabian Monetary […]

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Malaysia’s Islamic finance urged to embrace fintech

By Arno Maierbrugger Gulf Times Correspondent Bangkok Islamic banks and financial service providers in Malaysia, which is currently riding out a slowdown in global growth of the sector, have been told they should develop more new products and embrace innovative tools from financial technology (fintech) startups in order to better navigate through the current disruptive […]

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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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