Islamic Finance vs Conventional Finance

Islamic finance is finance based on trade transactions in order to remove the basis of making money from money, often interpreted as interest. The trade transaction will typically involve an underlying asset. As such Islamic banks do not lend money, they enter into trade transactions based on leasing, partnerships and trading. Based on Article by Dr. Sami Al-Suwailem, Head, […]

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IFAAS extends its activities in Africa – Press Release

IFAAS extends its activities in Africa IFAAS, the international Islamic finance advisory firm, extends its engagement in Africa by announcing the plan to open a new office in Casablanca, Morocco’s commercial capital and the gateway to Africa. 23rd May 2017 – IFAAS, (Islamic Finance Advisory & Assurance Services – www.ifaas.com) announced today at the African […]

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Algeria’s government planning Islamic finance options, welfare reforms

* Document gives first indications of PM’s policies * New government preparing Islamic finance framework * Plans changes to welfare, subsidy system * Revenues have declined with oil-price slide (Adds details throughout)   ALGIERS, June 20 Algeria’s new government is preparing the legal framework for Islamic finance and new Islamic bonds and will make changes […]

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Malaysia Eyes Starring Role in Islamic Finance

Southeast Asia is enjoying rapid economic development, while many Muslims have become prosperous in the region. But the Quran forbids charging interest rates on loans. Nevertheless, Malaysia’s top banks are offering an alternative approach, known as Islamic finance. Tom McGregor takes a closer look. Tom McGregor — The Quran, Islam’s holy book, prohibits Muslims from charging interest rates […]

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The Islamic Financial Services Industry sustains its growing market share in 2016

The Islamic Financial Services Industry sustains its growing market share in 2016 Amidst a challenging external environment brought on by the changing policy directions and uncertainties in the global economic landscape, institutions offering Islamic financial services (IIFS) have continued to grow and gain market share, particularly in their home jurisdictions. However, the previously observed double-digit […]

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ICSFS: Islamic banking must be standardised

Islamic banking has been one of the financial industry’s great growth stories over the past few years. The Islamic (interest-free) model has encouraged innovation, both in terms of product offerings and business support. In a break from convention, Islamic banks aim to function as true financial partners for their clients, as opposed to taking on […]

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