Non-Interest Securities: Central Bank of Nigeria to charge protection fees

BY NDUKA CHIEJINA (ASSISTANT EDITOR) ia The Nation – The Central Bank of Nigeria (CBN) says it will charge protection fees from investors in its Non-Interest Asset Backed Securities. One of the features of the CBN Non-Interest Asset Backed Securities (CNI-ABS), contained in a draft framework issued recently by the Apex bank on Non-Interest Asset Backed Securities, […]

Read More

DomaCom partners with Crescent Group to deliver pioneering Shariah-compliant financing solution

DomaCom and Crescent Group have entered into an exclusive Heads of Agreement to deliver a pioneering Islamic home finance product  The product will leverage DomaCom’s innovative fractional model that will allow Australia’s 700,000+ Muslim population to purchase a property using Shariah-compliant financing Crescent Group’s plan is to source institutional Islamic funding and structure its products […]

Read More

Kenya needs firm foundation for rollout of Sukuk

Over the years, the world has seen steady growth of the global Sukuk market. Sukuk is defined as a certificate of equal value representing undivided shares in ownership of tangible assets and services. Sukuk is an instrument for raising capital, usually referred to as an Islamic bond, tradeable on the securities exchange. The fundamental difference […]

Read More

Indonesia’s 2020 Islamic fintech financing just below forecast, industry body upbeat about 2021

BY YOSI WINOSA JAKARTA – Financing distributed by Indonesia’s Islamic fintechs reached 1.75 trillion rupiah ($124.2 million) in 2020, below the 2-3 trillion rupiah forecasted pre-pandemic by the Indonesia crowdfunding  fintech association (AFPI). The growth from 1 trillion rupiah in 2019 to 1.75 trillion rupiah mid-December this year came in spite of the COVID-19 pandemic challenges, AFPI […]

Read More

Emirates Islamic supports UAE businesses with global digital banking platform

Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched “businessONLINE” a digital business banking platform, to help businesses in the UAE manage all their banking needs on a single secure, intuitive platform Available to the bank’s small and medium business, large corporate and institutional client base, businessONLINE is a […]

Read More

Malaysia seen within reach of 40% Islamic financing target

By Adeline Paul Raj / The Edge Malaysia MALAYSIA’s Islamic finance penetration rate has grown steadily over the years and looks on track to reach the central bank’s target of 40% share of total financing by the end of 2020, notwithstanding the disruptions from the Covid-19 pandemic. Bank Negara Malaysia, in its Financial Sector Blueprint […]

Read More

Central Bank of Oman launches Fintech Regulatory Sandbox

Published Dec,2020 via Muscat Daily – The Central Bank of Oman (CBO) will launch the Fintech Regulatory Sandbox (FRS) initiative today, through which participants can apply to live test their innovative Fintech solutions, that are enabled by new technologies, in a safe environment under the supervision of the CBO. The CBO therefore issued the framework for […]

Read More

Malaysia’s MyMy sets out stall to become world’s first standalone central bank-licensed digital Islamic bank

BY RICHARD WHITEHEAD KUALA LUMPUR – Freshly flush with millions in fundraising, Joe McGuire is now preparing to take the next steps on his path to launching the world’s first standalone central bank-licensed Islamic challenger bank. In September, McGuire’s fintech start-up, MyMy, was on the receiving end of a 10 million ringgit ($2.45 million) seed injection […]

Read More