Boeing Capital is exploring opportunities for Islamic finance in the aviation sector and the possibility of including aircraft finance in the Islamic sukuk market, in which an aircraft finance portfolio would be secured by an instrument known as the Enhanced Equipment Trust Certificate. Boeing Capital in […]
A woman walks past a branch of Al Baraka Bank in Algiers city on April 5. With the economy emerging from decades of centralised control, Algeria badly needs alternatives to the energy revenues that have traditionally financed 60% of the budget. Reuters/Algiers When experts in Islamic banking gathered earlier this year at a state-run hotel […]
Report by IMF highlights key challenges facing the Islamic Financial Industry. Islamic Banking (IB) has grown rapidly in value and geographical reach, and has become an important and integral part of the financial systems in many countries. Though IB accounts for less than 2 percent of global finance, IBs currently operate in more than 60 […]
World Finance announces winners of 2017 Islamic Finance Awards LONDON, ENGLAND–(Marketwired – Conventional banks may have been left reeling by 2016’s numerous economic shocks, but Islamic Finance has continued to thrive over the past 12 months. A growing demand for Sharia-compliant services has seen the industry expand rapidly over the past decade, and the Islamic banking […]
Despite global economic uncertainty, Sharia-compliant banks continue to enjoy wave after wave of success. The World Finance Islamic Finance Awards celebrate the best players in this flourishing industry The global economy faced a tumultuous year in 2016. Financial markets were rocked by political upsets, while a global drop in oil prices and an economic slowdown […]
Kenya aims to become the next global center of Islamic finance East Africa’s biggest economy is positioning itself to become a regional hub for Islamic finance products. Kenya’s treasury ministry recently unveiled a plan to mainstream Islamic financing as part of an effort to stimulate economic growth, and to help set the sector up as a source […]
Islamic advisory firm opens office Islamic Finance Advisory and Assurance Services (IFAAS), an international Islamic advisory firm, has opened its fourth international office in Pakistan. The new Pakistan office is now operational and would be offering Islamic finance solutions to local stakeholders including authorities, banks, insurance companies, microfinance institutions and NGOs. Farrukh Raza, managing director […]
IFAAS is Assisting Kenya’s Government in Development of Islamic Finance IFAAS has provided its expertise and comprehensive assistance to the Government of Kenya in devising its national budget. IFAAS has been appointed by the Government and is working with the law firm Simmons and Simmons for the progress of Islamic Finance in Kenya. Kenya’s Government […]
(Corrects date of budget release on third paragraph) * Kenya proposes tax, legislative amendments in 2017/2018 budget * Paves way for debut sale of sovereign Islamic bonds * Government to setup Islamic retirement pension scheme By Bernardo Vizcaino April Reuters- Kenya’s government has unveiled a package of initiatives under its latest budget to develop Islamic […]
Kenya proposes tax, legislative amendments in 2017/2018 budget * Paves way for debut sale of sovereign Islamic bonds * Government to setup Islamic retirement pension scheme By Bernardo Vizcaino April 3 Kenya’s government has unveiled a package of initiatives under its latest budget to develop Islamic finance in the country, as part of efforts to […]
By MOHAMMAD MAHBUBI ALI – March 31, 2017 The authorities, however, need to put certain parameters and limitations in the use of the concept ISLAMIC financial products have evolved from simple and straightforward structures to highly sophisticated and multifaceted instruments. During the 1980s and […]
The authorities, however, need to put certain parameters and limitations in the use of the concept ISLAMIC financial products have evolved from simple and straightforward structures to highly sophisticated and multifaceted instruments. During the 1980s and 1990s, Islamic financial products were dominated by deposits and savings, syndicated project financing, syariah-compliant stocks and mutual funds. The […]
