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 […]
Jakarta (ANTARA) – Indonesia’s advancement and prioritization of Islamic Finance, including the recently launched National Islamic Finance Committee, locally called KNKS, is transformative, Islamic Development Bank (IsDB) official noted in a statement received by Antara here, Thursday. “We, at the IsDB, are pleased to support Indonesia’s roadmap to have a larger share of Islamic Finance […]
Sharia-compliant banks step up investments in digital space to cater to this demographic Published: June 30, 2019 07:00 David George | Editor – Commercial Publishing Younger customers are expected to play a crucial role in the growth of Islamic finance and expand its customer base in the future. With Muslim spend estimated at $2.1 trillion in 2017, […]
As Middle East investment in renewables increases, adoption of green sukuk as one of the alternatives to traditional financing techniques will rise, says Deloitte Islamic finance can play a significant role in financing solar and other alternative energy projects in the Middle East as countries put an emphasis on green energy to meet increasing demand, […]
Bello Danbatta, the Secretary General of the Islamic Financial Services Board (IFSB) sees Kazakhstan, the Caspian region’s third-largest economy, as a potential hub for Islamic banking in and around Central Asia. “We see here a huge potential for the development of Islamic finance,” Danbatta said Wednesday, according to reports by Kazinform. “With the population of 18 […]
Forty-six per cent of British Muslims have never used Islamic finance, says a survey by the Shariah-compliant Gatehouse Bank. This marks “a wake-up call to the UK Islamic banking industry”, Gatehouse said in a statement on Wednesday. “Our report highlights that providers of Shariah-compliant finance are missing out because of a largely untapped market for […]
By Ray Chickrie Caribbean News Now contributor GEORGETOWN, Guyana – A team of six officials from the Islamic Development Bank led by Noureddine Mabrouk arrived in Guyana last Wednesday to scope renewable energy projects for off-grid area in partnership with the Guyana Energy Agency (GEA). The Islamic Bank team includes Noreddine Citroen, project management specialist; […]
Written by: Emma Lunn Nearly half (46 per cent) of Muslim consumers have never used Shariah-compliant financial products, according to Gatehouse Bank. The bank said the figure – which rises to 53 per cent among Muslim women – underlines the challenge faced by Shariah-compliant finance providers. Gatehouse’s Islamic Finance Consumer Report also found that seven […]
The Peninsula Doha: Islamic banks are playing a vital role in Qatar’s financial and banking sector, H E Sheikh Abdullah bin Saoud Al Thani, Governor, Qatar Central Bank (QCB), has said. In a statement issued on the occasion of the launch of an annual report on Qatar’s Islamic banks’ performance, the QCB Governor said the central […]
By: Maharlika Alonto, Maria Theresa Abogado Big leaps have been made recently in terms of realizing financial inclusion and socioeconomic development. Last month, the Senate approved on third reading a bill authorizing the expansion of the Islamic banking system in the Philippines, which shall be under the supervision of the Bangko Sentral ng Pilipinas and regulated by […]
For the longest time, Bank Negara Malaysia (BNM) have been conducting their experiments on Islamic Banking institution to build a viable business model that can be the example to the world. Islamic Banks are naturally seen as the prudent, stable and right platform to design, build and test new structures and conditions. That exploratory mode […]
