Algeria turns to Islamic finance, bourse to rescue ‘worrying’ economy

ALGIERS (Reuters) – Algeria’s new government will introduce Islamic finance and develop its stock market to draw more investment into the economy as it struggles to cope with a sharp fall in energy earnings, according to an official document. The measures are part of wider reforms by Prime Minister Ahmed Ouyahia’s government, which also said […]

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Rise of Islamic finance meets human capital gap

Delegates listen at the Islamic Finance and Trade conference in Westminster, London (file). The UK has the highest number of Islamic finance education providers with about 70 institutions, including universities, schools and other education providers offering Islamic finance courses and degrees. By Arno Maierbrugger/Gulf Times Correspondent /Bangkok The growing popularity of Islamic banking and finance […]

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COULD BREXIT BE A BOON FOR THE GROWTH OF ISLAMIC FINANCE?

Islamic finance is a centuries-old practice designed to enable Muslims to invest and transact business while remaining in accord with their religious beliefs. The Muslim world has long raised capital in accordance with Sharia principles. These principles reflect the requirements of the Islamic faith. For example, Sharia principles forbid the receipt of income derived from […]

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Islamic finance industry hampered by global economic conditions

Global economic volatilities, consistently low oil prices and reduced demand for credit are among the factors that currently weigh on the Islamic financial service industry, the recently released IFSB Industry Stability 2017 Report by Kuala Lumpur-based Islamic Financial Services Board (IFSB) suggests. The study says that 2016 marked another year of slower growth amid adverse […]

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Islamic finance industry hampered by global economic conditions

Global economic volatilities, consistently low oil prices and reduced demand for credit are among the factors that currently weigh on the Islamic financial service industry, the recently released IFSB Industry Stability 2017 Report by Kuala Lumpur-based Islamic Financial Services Board (IFSB) suggests. The study says that 2016 marked another year of slower growth amid adverse […]

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How can Islamic finance benefit Azerbaijan?

Islamic finance is still a nascent industry in Azerbaijan, even though the country’s large Muslim population base indicates great potential demand for its products and services. Nevertheless, efforts have been made to promote Islamic finance in Azerbaijan. Today, several banks in the country offer a narrow range of services based on Sharia’a (Islamic law) principles […]

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New Efforts to Boost Sharia Banking in Indonesia

Although between 85 and 90 percent of the Indonesian population is Muslim, Islamic banking, also known as sharia banking (financing activity that is in line with Islamic principles), remains underdeveloped in Indonesia. In 2016 sharia banking assets only accounted for 5.3 percent of total assets in Indonesia’s banking sector. Meanwhile in countries like Saudi Arabia […]

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