ESX plans to develop Shariah-compliant capital market products

By Samuel Bogale Management of the newly established Ethiopian Securities Exchange (ESX) is eyeing the abundant resources in the Islamic finance sector for the development of Shariah-compliant capital market products. Planning to introduce various financial instruments that comply with Shariah law, the executives of the ESX said they will work to “integrate Islamic finance principles […]

Read More

Uganda passes Islamic banking law

By Ben Margulies The Ugandan parliament passed legislation on June 27 to authorise Islamic banking in the country. The law now goes to the president for assent. The parliament also passed legislation amending tax laws to accommodate Islamic finance activities. The speaker of parliament, Anita Among, said MPs, including herself, had faced pressure not to […]

Read More

IsDB and Indonesia Collaborate to Advance Islamic Finance Ecosystem

Jeddah, Kingdom of Saudi Arabia, August 2023 –In a bid to strengthen collaboration and fortify the Islamic finance industry, H.E. Dr. Zamir Iqbal, Vice President of Finance & CFO of the Islamic Development Bank (IsDB), welcomed a delegation from Indonesia at the IsDB Headquarters today. Leading the Indonesian delegation was H.E. Dr. Juda Agung, Deputy Governor […]

Read More

Islamic bank’s meeting sees signing of agreements worth $5.4B

The Islamic Development Bank (IsDB) Group saw the signing of 77 financing agreements worth $5.4 billion for 24 member countries during its annual meeting in the Saudi port city of Jeddah, its chairperson said Saturday. The four-day event, starting on Wednesday, hosted dozens of agreements, panels, summits, and business-to-business meetings with the high-level participation of […]

Read More

Moody’s expects Malaysia’s strong Islamic finance growth to continue for next 12 to 18 months

KUALA LUMPUR: Moody’s Investors Service (Moody’s) expects strong Islamic finance growth in Malaysia to continue over the next 12 to 18 months supported by more government initiatives and digital banking. Financial institutions group analyst Chong Jun Wong said similar to other key Islamic markets, the growth of Islamic banks in Malaysia has actually outpaced the […]

Read More

Islamic finance moves towards open banking

By: HANNAH GANNAGE-STEWART, INDUSTRY NEWS  Islamic finance professionals expect the sector to move rapidly towards greater use of open banking over the next three years, according to new research. The study, by IslamicMarkets.com, found that 90 per cent of Islamic finance professionals believe the adoption of open banking by financial institutions, governments, fintechs and other […]

Read More