The central Asian nation of Tajikistan has opened its first full-fledged Islamic bank. OJSC Tawhidbank opened in September and is licensed under the central bank, the National Bank of Tajikistan, it said in a statement on September 20. Tawhidbank has its roots in conventional mid-sized bank Sohibkorbank, which was set up in 1999. The joint […]
Global Sukuk issuance picks up pace as Islamic banking set for low single-digit growth Babu Das Augustine, Banking Editor The Dubai International Financial Centre. The global Islamic finance industry will continue to expand at a slower pace in 2019-2020 due to geopolitical and economic challenges.Image Credit: Gulf News Archives Dubai: The global Islamic finance industry […]
DUBAI/JEDDAH — Saudi Arabia’s Islamic finance market is set to grow with demand from corporate and retail clients, and supportive regulations, Moody’s Investors Service said in a report published Tuesday. The kingdom had Islamic finance assets of $299 billion as of March, making it the world’s biggest market, and leaving Malaysia a distant second with $134 […]
The Sultanate has one of the highest Islamic asset growth rates in the world By Staff Writer, Banker Middle East Islamic finance in Oman is thriving. There are more financial institutions currently offering Islamic finance products or working under a Shari’ah framework than ever before, and this is due in no small part to the regulatory […]
SEPTEMBER 2019 GODWIN CAPITAL AND IFAAS LAUNCH THE FIRST SHARIAH COMPLIANT ALTERNATIVE TO LOAN NOTES IN EUROPE Godwin Capital, the fundraising and investment arm of the Godwin Group, has introduced a new Shariah compliant investment opportunity to the European market. The Godwin Wakala Note (‘Wakala Note’), structured by the leading international Islamic finance […]
by Gabriel Olano A new law in the Philippines will seek to support the growth of Islamic finance, extending financial inclusivity to the country’s minority Muslim population. Republic Act 11439, which was signed on August 30 by President Rodrigo Duterte, mandates the Bangko Sentral ng Pilipinas (BSP) to oversee Islamic banking in the country, Rappler reported. […]
KUALA LUMPUR (Aug 28): Islamic banking institutions in Malaysia have been urged to provide extensive financing and entrepreneurship training to small and medium enterprises (SMEs) in order to strengthen the sector, said an economist. Bank Islam Malaysia Bhd’s chief economist Dr Mohd Afzanizam Abdul Rashid said the move will create more jobs in SMEs and […]
Written by Sawitri Mardyani Published in Islamic Finance FINISPIA is a stock screening tool designed for making Islamic investment easier by making it easier to find out which stock is halal and which one is not. FINSPIA is a Canadian company that was launched with the support of a crowdfunding campaign on LaunchGood.com. Muslim Link interviewed the CEO […]
Today enterprise blockchain company R3 announced that Dubai fintech startup Wethaq has signed a strategic partnership. Wethaq is targeting Islamic Capital Markets, starting with Sukuks. Earlier this year S&P ratings estimated the 2019 issuance of Sukuks would be $115 billion, the same as 2018. Blockchain has seen significant activity in asset-backed securities, which goes to […]
An interview with Paul Stockwell: Islamic finance has ‘enormous opportunity’ for growth over coming years – Theo Osborn n an interview with Specialist Banking, Paul Stockwell, chief commercial officer at Gatehouse Bank (pictured above), discusses increasing awareness of Islamic finance and opportunities in the banking world. Your research found that 46% of Muslim consumers had never […]
Huileng Tan, Evelyn Cheng China’s pursuit of Belt and Road Initiative projects in predominantly Islamic countries is expected to spur growth in the Islamic finance sector. Chinese issuers have, however, recently pulled away due to the complexities involved in rolling out such products, particularly as standards differ across various regulatory regimes, says Mohamed Damak, global […]
by Sebastian McCarthy Islamic banking within the Commonwealth of Independent States (CIS) will grow substantially over the next five years, according to Moody’s Investors Service. The US agency is forecasting financial expansion in many of the CIS counties during the years ahead as a result of government initiatives built to nurture the sector. “Kazakhstan, Kyrgyzstan, Tajikistan […]
