Top executive says segment has huge potential in Russia due to its large Muslim community. Abu Dhabi: Sberbank, Russia’s largest bank is exploring opportunities in the UAE and the Middle East as it pushes to expand its business in Islamic banking and other sectors, a top executive said yesterday Russia has a large Muslim […]
While a no-deal Brexit could have a significant negative impact on U.K.-based Islamic banks’ asset quality, it is unlikely to cause major disruption to their funding, according to a report published today by S&P Global Ratings titled “Countdown To Brexit: Implications Of A No-Deal Brexit For Islamic Finance.” The U.K. is home to five fully […]
The Parliament of Uganda passed the Islamic banking regulation in 2016, however it has been delayed by the requirement to set up the Shari’ah Advisory Board in the central bank. MARCH 2019 BY KUDAKWASHE MUZORIWA The finance minister expects the zero-interest system in Islamic Banking to attract a good number of Ugandan entrepreneurs, reported local daily, The […]
Qatar will launch an energy-focused Islamic lender later this year with a targeted capital of $10 billion to finance both domestic and global projects, an executive said Tuesday. Tiny but wealthy Qatar is one of the most influential players in the liquefied natural gas market with annual production of about 77 million tons, and it […]
By Arno Maierbrugger/Gulf Times Correspondent/Bangkok The three predominantly Muslim countries out of ten in the Association of Southeast Asian Nations (Asean), namely Malaysia, Indonesia and Brunei, are on the way to form a new hub for Islamic finance and the wider halal industry through their current roadmaps to develop the sector. Malaysia, which is already […]
Three securities regulators in the United Arab Emirates have agreed on the coordinated supervision of the marketing and selling of domestic funds across the country. The Emirates Securities and Commodities Authority (ESCA), Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Monday released details of a common […]
Pakistan will likely turn to Islamic banks to borrow another $1.45bln to try to ease a financial crunch in its power sector By Drazen Jorgic, Reuters News ISLAMABAD – Pakistan will likely turn to Islamic banks to borrow another 200 billion rupees ($1.45 billion) to try to ease a financial crunch in its power sector, a […]
The Islamic Development Bank (IsDB) will issue its first euro-dominated sukuk this year, President Bandar Hajjar said By Ahmed Eljechtimi, Reuters News RABAT- The Islamic Development Bank (IsDB) will raise around 2 billion dollars through multiple sukuk issuances this year, President Bandar Hajjar said on Thursday. The bank, which operates in 57 countries, sold over 600 million euros […]
MENAFN – PR Newswire) DUBLIN, 2019 /PRNewswire/ — The “The Banking Industry in South Africa 2018” report has been added to ResearchAndMarkets.com’s offering. The South African banking sector which has total assets of R5.14-trillion, remains highly concentrated with the five largest banks holding 91% of total assets as of 31 December 2017. While the country’s […]
By Charissa Luci-Atienza The chairman of the House Committee on Banks and Financial Intermediaries expressed confidence over the approval of the proposed Islamic Banking law by Congress when it reconvenes after the May polls. Leyte Rep. Henry Ong expressed hope that the Senate would follow suit to the House of Representatives in passing the measure, […]
Home to the largest Muslim population, Indonesia is looking to sharia-compliant financial technology (fintech) to enhance financial inclusion in the country, where access to financing remains limited. Speaking as the chairman of the Sharia Economic Society supervisory board, Ma’ruf Amin, the running mate of President Joko “Jokowi” Widodo in the 2019 presidential election, told a […]
By Arno Maierbrugger/Gulf Times Correspondent/Bangkok The three predominantly Muslim countries out of ten in the Association of Southeast Asian Nations (Asean), namely Malaysia, Indonesia and Brunei, are on the way to form a new hub for Islamic finance and the wider halal industry through their current roadmaps to develop the sector. Malaysia, which is already […]
