Sovereign issuance accounted for 97 per cent of sukuk in the South East Asian country this year, Indonesian ministry of finance says Indonesia, a top issuer of Islamic bonds this year, is struggling to convince its private sector to follow its lead and raise debt through sukuk, making it difficult for the country to achieve […]
JEDDAH — The Islamic finance industry will continue to grow slowly in 2019-2020, S&P Global Ratings said in a new report Monday. The industry expanded by about 2% in 2018 compared with 10% the previous year, according to S&P Global estimates, with strong support from the sukuk market. In 2017, most of the growth stemmed from […]
BY AIDANA YERGALIYEVA NUR-SULTAN – Islamic Corporation for the Development of the Private Sector (ICD) seeks to advance the private sector in Central Asia through funding agricultural and transport infrastructure projects, thus hoping to include them in the Islamic Finance market, ICD CEO and General Manager Ayman Sejiny told The Astana Times. Founded in November […]
The UAE, considered the capital of the Islamic economy, seeks to strengthen its economic and trade ties with the Duchy of Luxembourg as well to enhance cooperation in Islamic banking. BY KUDAKWASHE MUZORIWA The UAE’s Minister of State for Financial Affairs, Obaid Humaid Al Tayer, held a meeting with his Luxembourg counterpart Pierre Gramegna, who is […]
FCI, the global body representing factoring and receivables finance companies, is creating a new Islamic factoring chapter within its network. The aim is to “increase financing opportunities for SMEs via Islamic factoring”, FCI says. The association has signed an agreement with the International Islamic Trade Finance Corporation (ITFC) – a member of the Islamic Development […]
A Scottish college is offering Masters degree programmes on Islamic finance. Dundee’s Al-Maktoum College of Higher Education is collaborating with the University of Dundee to offer qualifications in MSc Islamic Finance, MSc Islamic Banking and Finance and MSc Islamic Banking, Finance and International Business. Islamic Finance is based on Shariah law that prohibits charging or […]
The Nigerian Stock Exchange (NSE), in partnership with REDmoney Group, is set to hold the inaugural edition of the IFN Nigeria Forum themed, “Harnessing the Islamic Finance Sector for Infrastructure Development and Economic Growth”, on Tuesday, June 18, 2019, at the Eko Hotels and Suites, Lagos. The forum is aimed at promoting the growth and […]
KUALA LUMPUR: HSBC in Malaysia launched its first environmental, social and governance (ESG) Islamic structured product in the country. The landmark ringgit principal protected participation floating rate Islamic negotiable instruments linked to Hang Seng Corporate sustainability index is an ESG-related Islamic structured product which is 100% principal protected if held to maturity. The product offered […]
The strict rules against charging interest and investments deemed contrary to Shariah law earn Islamic finance an understandable reputation for conservatism. But a wider-angle view reveals a different reality. With a youthful, globalized and digitally savvy audience, Islamic financial institutions are rapidly embracing some of the biggest trends in the banking world, notably digital and […]
Could Gatehouse Bank’s new ‘Home Purchase Plan’ help you secure a home? Gatehouse Bank has launched its longest fixed-rate deal for aspiring home buyers, becoming the latest Islamic bank to offer a five-year home finance option. So, what is the new Gatehouse mortgage alternative and how do these deals work? Islamic financial principles prevent you […]
The fourth session focused on the role of research and education institutes in raising awareness about the Islamic financial industry’s services RIYADH: The Islamic finance industry’s role in stimulating the national economy was highlighted at a Riyadh workshop organized by the Saudi Arabian Monetary Authority (SAMA). Turki Al-Mutairi, SAMA deputy governor for research and international […]
Fintech can enable Islamic finance to attract more customers, increase efficiency, reduce costs and offer a wider range of products, helping the sector become more competitive against conventional finance, according to the Qatar Financial Center (QFC). The Islamic banking and finance industry currently reaches about 100mn customers worldwide while the potential market is six times […]
