Favourable regulation key to Islamic finance growth

Muscat: Developing an enabling and empowering environment, including the necessary legislative and regulatory framework, is needed to support the growth of Islamic economy, according to an expert. This can be done by working on several key strategic pillars, Abdulla Mohammed Al Awar, chief executive officer of Dubai Islamic Economy Development Centre (DIEDC), said at the 2nd […]

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Bank of England joins IFSB Islamic finance body

The Bank of England has joined the Islamic Financial Services Board (IFSB), one of the main standard-setting bodies for Islamic finance, the second Western regulator to do so after Luxembourg. The BoE joins as an associate member, the 65th regulatory body to join the Kuala Lumpur-based body, bringing total membership to 189, the IFSB said […]

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Islamic Finance In Turkey

I. OVERVIEW Islamic finance has emerged as a rapidly growing industry with an increasingly global presence. It continues to be the topic of choice at prestigious finance conferences in Europe, Asia Pacific and in the United States. The Islamic financial services industry currently represents approximately 1% of global assets, however, it has been growing by […]

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Islamic finance body IIFM launches cross currency swap standard

(Reuters) – The Bahrain-based International Islamic Financial Market (IIFM) launched a standard contract template for sharia compliant cross currency swaps on Thursday, as the industry body seeks to enhance use of hedging tools in the sector. As Islamic finance grows, institutions are increasingly taking larger positions, often in various currencies, prompting the need for widely-accepted […]

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Asiya: China’s economic rebalancing is moving ahead

The success of China’s transition from an industrial-focused economy to a consumption-based one will be crucial to the rest of Asia and the Gulf, according to a report prepared by Camille Accad, Economist at Asiya Investments Company. China’s plans to become a consumption and service based economy are progressing rapidly. In the 2000s, growth was […]

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Malaysia aims to boost Islamic finance with new initiatives in budget

KUALA LUMPUR,  (Reuters) – Malaysia is hoping new incentives for “ethical” Islamic bonds and home loans will strengthen the country’s sharia-compliant investment market and lure more private players to one of the world’s largest Islamic financial sectors. The government announced the new incentives in the 2016 budget which was delivered in parliament on Friday, as […]

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