Islamic finance — the uphill journey continues

Ahmed Ali Siddiqui | Maryam Tariq The Islamic finance industry continued its impressive growth journey in Pakistan in 2021. Pakistan has been ranked 8th in the Global Islamic Economic Indicator list with the sustainable growth of Islamic institutions in the financial sector and economy. In 2021, the Islamic finance industry of Pakistan achieved high growth, effectuated significant […]

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Islamic finance industry set for continued growth in 2022 despite challenges

Islamic banks’ assets globally will continue to outperform their conventional peers this year, Moody’s says Sarmad Khan Mar 8, 2022 The Islamic finance sector is set to continue growing in 2022 as the accelerating economic recovery, particularly in the GCC region, brightens the outlook for credit growth despite challenges from a rise in interest rates and decline in […]

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Egypt cabinet approves international sukuk issue: statement

By Moamen Said Attallah, Reuters News CAIRO- Cabinet statement The Egyptian cabinet has given the finance ministry the go-ahead to take measures aimed at issuing sovereign sukuk on international markets, a cabinet statement said on Wednesday. (Reporting by Moamen Said Attallah; Writing by Shakeel Ahmad; Editing by Alison Williams) ((shakeel.ahmad@thomsonreuters.com;)) Copyright reserved 2022 – Zawya

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Sukuk issuance seen flat at best in 2022 – S&P

DUBAI, (Reuters) – S&P Global Ratings said on Wednesday it expects global sukuk issuance volumes to be flat at best in 2022, amid decreasing liquidity and rising borrowing costs, as well as higher oil prices cutting some core Islamic finance countries’ funding needs. While economic transformation goals such as Saudi Arabia’s Vision 2030 may usher […]

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Global Islamic funds market grows 300% in decade – report

By Doyinsola Oladipo DUBAI, Jan (Reuters) – The global Islamic funds market has grown by more than 300% over the last decade to nearly reach $200 billion in assets under management, the Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) said on Wednesday. Islamic assets under management (AuM) grew 13.7% in 2020 despite the […]

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Parliament, executive working to make financial rules conform to Islam, FSC told

ISLAMABAD: The government called upon the Federal Shariat Court (FSC) on Wednesday to exercise “judicial restraint” by leaving it to the executive and the legislature to amend laws on Riba (interest) and other financial rules in keeping with Islamic traditions. Attorney General Khalid Jawed Khan told the FSC that parliament, the executive and other organs of the […]

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