CIMB Islamic offers RM100m SME financing to be halal-ready

Wong Swee May – The Edge Financial Daily KUALA LUMPUR: CIMB Islamic Bank Bhd has unveiled its latest proposition in supporting small and medium enterprises (SMEs) to grow their businesses in the global halal market. Through CIMB HalalBizReady, the proposition provides financing packages that help businesses become compatible with the requirements of halal certification by […]

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Central Bank of Bahrain’s new liquidity management tool aims to promote Islamic banking

The tool is based on the “Single Binding Wa’ad based structure” By Staff Writer, ZAWYA The Central Bank of Bahrain (CBB) has launched a new liquidity management tool for Islamic retail banks to promote the development of Islamic banking in the kingdom. The tool based on the “Single Binding Wa’ad based structure” is developed by the International Islamic […]

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How Islamic Finance Supports Nigeria’s Sustainable Development Goals-HRH Muhammadu Sanusi II

Islamic Finance has the potentials to support Nigeria’s quest to achieve its sustainable development goals as a nation. The Emir of Kano His Royal Highness Mohammed Sanusi II disclosed this as a keynote speaker at the recent 4th Africa International Conference on Islamic Finance in Lagos.   Speaking on the theme “infrastructure financing, sustainability and the future of […]

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Time for Malaysia to lead Islamic social finance endeavours

By Apnizan Abdullah ACCORDING to the State of the Islamic Economy Report 2018/19, Malaysia has been the leader of the Islamic economy ecosystem for five consecutive years since 2013. Thomson Reuters ranked Malaysia as the most developed Islamic finance market in the world based on Islamic Finance Development Indicator (IFDI) values. According to the Malaysia International […]

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Turkey, Malaysia, Qatar can pioneer in Islamic finance

$2.4-trillion Islamic finance sector can be role model for world economy, says CEO of Qatar Financial Centre Gokhan Ergocun, Yunus Turk ISTANBUL  Ready to be taken to the next level, the burgeoning sector of Islamic finance is ready to take root in new regions through Turkey, Malaysia and Qatar, according to a leading figure in […]

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Turkey: Islamic Development Bank deals to aid exporters

Turkey’s transport sector also to benefit from deals signed during OIC meeting in Turkish commercial capital Istanbul by: Tuba Şahin ISTANBUL  The Islamic Development Bank (IsDB) Group and various Turkish stakeholders on Wednesday signed cooperation pacts backing both exporters and the transport sector. The deals were signed in the Turkish financial capital Istanbul, on the sidelines […]

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Sharia committee wants to quadruple Islamic bank assets by 2024, will partner with Malaysia

By: Eisya A. Eloksari – The Jakarta Post Indonesia’s sharia financial committee hopes to quadruple the nation’s sharia bank assets over the next five years. It will also establish programs to enhance sharia financial services, including a partnership with Malaysia. National Committee for Sharia Finance (KNKS) executive director Ventje Rahardjo said that the goal was to reach […]

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Islamic Finance Development Indicator (IFDI) 2019 witnesses shifting dynamics in Islamic finance

Islamic finance assets grow 3 percent in 2018 to US$ 2.5 trillion; the Sukuk asset class continues strong growth, rising 10 percent in 2018 to US$ 470 billion; developed markets continue to revise Islamic finance regulations and frameworks; Islamic FinTech gained pace with the issuance of blockchain-based micro-Sukuk and a spate of developments in the U.K. […]

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Islamic finance becoming a global force, says report

By Arno Maierbrugger/Gulf Times Correspondent/Bangkok With global assets of currently more than $2.4tn and a forecast of 7.7% compounded growth per year to reach $3.8tn by 2023, Islamic finance is becoming “a force to be reckoned with,” the newly released State of the Global Islamic Economy Report 2019/20, compiled by research and advisory firm DinarStandard […]

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Islamic development bank, Turkey to expand cooperation

ANKARA The Islamic Development Bank (IsDB) Group will expand its cooperation with Turkey through major transactions worth more than $500 million in Istanbul next week. The deals will be signed on the sideline of the 35th Ministerial Meeting of the Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) on […]

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Indonesia’s ranking in Islamic finance jump six spots but major challenges remain

Indonesia’s Islamic finance rank has improved exponentially this year, but challenges remain to further develop the sharia economy. Based on the 2019 Islamic Finance Development Indicator (IFDI) launched on Tuesday by the Islamic Corporation for the Development of the Private Sector (ICD) and financial market data provider Refinitiv, Indonesia’s ranking jumped six steps to fourth […]

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Turkey’s share in global Islamic insurance takes jump

Turkey’s share in $28 billion global Islamic insurance sector grows from 1.5% to 5% in six years. ISTANBUL Turkey’s share in global Islamic insurance (takaful) sector has jumped form a mere 1.5% in 2014 to 5% in 2019, according to a report released by the Committee for Economic and Commercial Cooperation of the Organization of […]

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