Kenya reviews Islamic finance laws ahead of debut sukuk

Kenya is reviewing all laws and regulations governing its nascent Islamic finance industry to aid the issuance of a debut Islamic law-compliant bond known as a sukuk, its attorney general said on Wednesday. The East African nation, which issued its first Eurobond in 2014, wants to expand the range of financing available for infrastructure projects like roads […]

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Italy’s mini-bond rules may be adapted to Islamic finance

Feb 16 A law firm and an Islamic finance advisory firm are working to adapt Italy’s "mini-bonds" legislation to provide sharia-compliant funding options as an alternative to bank lending. Three years of recession have limited funding for Italian companies, in particular for smaller firms, which is encouraging the use of less traditional funding sources such […]

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Worldwide Halal food; lifestyle market to reach US$ 3.7 trillion by 2019

Over 800 Halal certified companies set for Halal World Food at Gulfood 2016 as major international retailers explore new products in Dubai re-exports boost Halal sector opportunities to come under conference spotlight at Gulfood Halal Forum Dubai, UAE: Worldwide spending on global Halal food and lifestyle products could rise 10.8% a year until 2019 to […]

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Islamic Finance: Implications for the Global Economy

As more Western companies do business in the Middle East, Islamic finance has become an increasingly important part of the world economy.But Islamic finance follows different rules than conventional Western economies, in keeping with sharia, the Islamic legal system. Demand for sharia-compliant banks is growing rapidly, with Ernst & Young projecting an annual growth rate […]

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Islamic banks to sustain robust growth in Oman, says CBO official

Muscat – Oman’s Islamic banks have achieved robust growth in finance, which crossed OMR1.6 billion by the end of November 2015. The Islamic banks and window operations achieved a 65.49 per cent growth in finance, which touched OMR1,644.5 million by end-November 2015, against OMR993.7 million for the same period last year. “Islamic banks grew very […]

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Islamic Finance Into a new era

2016 should be the year when regulation and standardisation make their mark on the Islamic finance world Regulation and standardisation have started to receive stronger attention, as the Islamic finance industry expands its international footprint and the range of products and services proliferates at an accelerating rate. National financial regulators and central banks are increasingly […]

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Regulatory challenges for Islamic finance in Africa to be addressed at IFIF 2016

Africa forum to host key policymakers to drive discussions on regulations enabling integration of Islamic finance into financial system and realising Islamic finance potential. The upcoming second International Forum on Islamic Finance (IFIF 2016) in Khartoum, Sudan, is planned to serve as a key platform for critical discussions on developing effective regulation and supervision of […]

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Islamic Banks: Efficiency and Stability

There is substantial Islamic banking activity carried out by conventional banks through their so-called Islamic windows. Such banking institutions have been excluded from this report for a simple reason that the growth and stability of Islamic banking activities in such institutions follow the growth and stability of the conventional part of such institutions. Mixing Islamic […]

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