[DUBAI] The Islamic finance industry grew 11 per cent year-on-year in 2017 and is set to sustain double-digit growth buoyed by capital market products and the adoption of financial technology, according to a Thomson Reuters study released on Tuesday. The industry is now represented in 56 countries by 1,389 sharia-compliant financial firms, worth a combined […]
The initiative is the result of the collaboration of Al Hilal Bank Digital Transformation team with Jibrel Network, a UAE-based fintech Al Hilal Bank is the first Islamic bank in the world to leverage Blockchain technology for the resale and settlement of an Islamic Sukuk. Blockchain was used to transact a secondary market deal in […]
By Charissa Luci-Atienza The chairman of the House Committee on Banks and Financial Intermediaries is hoping for the smooth passage in the Senate of the bill providing for the regulation and organization of Islamic banks to attract better investments for the country. Leyte Rep. Henry Ong said he is counting on the Upper Chamber to […]
2018 Islamic Banking Index says Islamic banks are outperforming their conventional peers in customer acquisition in the UAE The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to new research. The findings of the 2018 Islamic Banking Index by Emirates Islamic said that Islamic banks […]
Al Baraka Banking Group won the “Best Islamic Financial Institution” award for its consistent business growth, meeting professional standards, offering quality products and services that are also innovative, and for geographic reach, profitability and robustness of financial position. Recent news that Bahrain-based Al Baraka Banking Group, which has banking branches across North Africa, received the […]
By Elijah Joseph C. Tubayan, Reporter THE GOVERNMENT is looking at floating Shari’ah-compliant securities next year, but will still wait for the establishment of a legal framework for Islamic banking, the Department of Budget and Management (DBM) said yesterday. Budget Secretary Benjamin E. Diokno said the development of Islamic finance in the country is part of the […]
IsDB lists first euro sukuk, has nine dollar sukuk listings on Nasdaq Dubai valued at a total of $11.8bn Nasdaq Dubai has welcomed the listing of a 650 million euro ($737 million) sukuk by Islamic Development Bank (IsDB). It is the first euro listing by IsDB, which also has nine dollar sukuk listings on Nasdaq […]
Top performing regional Islamic Financial Institutions are vying for the WIBC Awards recognising the Best Performing Banks at the Global and Regional level. A testament to its vision of advancing the global Islamic banking industry, the 25th World Islamic Banking Conference (WIBC) will continue in its endeavor of enhancing the performance and quality of key Islamic […]
The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to the findings of the 2018 Islamic Banking Index by Emirates Islamic. The index is a benchmark survey revealing the progress, penetration and perception of the Shari’ah-compliant banking sector in the UAE, as well as the future intentions of […]
The adoption of block chain, artificial intelligence, cryptocurrencies and other advanced technologies are expected to have a positive impact on the global Islamic finance sector and create new benefits and opportunities for banks and consumers alike, according to industry experts speaking at the Global Islamic Economy Summit 2018 (GIES) in Dubai. DUBAI, (UrduPoint / Pakistan […]
JOHANNESBURG — When 24-year-old Farhaan Mottiar took over his father’s bridal shop in Johannesburg’s oldest Indian mall, he decided to join a growing movement in Africa: away from traditional banking, and into newly available Islamic banking systems. “It’s the right way forward,” he told VOA in his shop, as he ran his fingers over a […]
The duo will collaborate in promoting the implementation of prudential, Shari’ah, accounting and governance standards to facilitate the development of the Islamic financial services industry. The Islamic Financial Services Board (IFSB) has signed a MoU with the Accounting and Auditing organisation for Islamic Financial Institutions (AAOIFI) to jointly undertake technical activities relating to development and revision of […]
