Muslim investors and family offices across the world have had to grapple with a unique challenge while managing money – their faith doesn’t allow them to earn interest on their assets. However, the rise of bespoke banking and financial services in recent decades has allowed the 1.8 billion-strong community to invest their money while keeping the […]
Malaysia has been pioneering the sustainable Islamic finance market well before the country’s 2014 launch of the Sustainable and Responsible investment (SRI) Sukuk framework. Zainal Izlan Zainal Abidin, Deputy Chief Executive of Malaysia’s Securities Commission, says the country needs to build on the seven SRI sukuk issued to date and pull more borrowers from the […]
Hamad Bin Khalifa University (HBKU), Al-Farabi Kazakh National University, and Astana International Financial Centre (AIFC) have opened an Islamic Finance Centre (IFC) in Kazakhstan. Gulf Times reports in its article Islamic Finance Centre opens in Kazakhstan that HBKU president Dr Ahmad M Hasnah attended the opening of the IFC at Al-Farabi Kazakh National University in Almaty, Kazakhstan, along with […]
By Ami Afriatni Indonesia will aim to push interest-free Islamic banking into the mainstream and boost domestic production of halal (permissible) foods, products and services when the world’s most populous Muslim-majority country unveils its first Sharia economic master plan on Tuesday, a government official said. The plan outlines efforts to grow Islamic economic sectors such as finance, […]
Strengthens position as preferred bank for UAE Nationals Press Release Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced a partnership with the Sheikh Zayed Housing Programme. Enhancing its position as the preferred bank for UAE Nationals, Emirates Islamic will provide home finance solutions to the beneficiaries of projects built and delivered by […]
Amir Firdaus, chief financial officer, Al Rayan Bank MAY 2019 It is believed that more than 80pc of all fixed-term deposit customers of Al Rayan bank are not of the Muslim faith Islamic finance is reinforcing the UK’s position as a global financial hub, says Amir Firdaus, chief financial officer of the UK’s oldest and […]
A number of leading financial institutions in Jordan are acknowledging the positive effect of financial inclusion on the overall wellbeing of the country’s economy When it comes to improving the general wellbeing of society, while promoting economic growth, the value of financial inclusion can’t be overstated. Access to financial tools like bank accounts […]
Residential property and green fields sit near the coast in Dublin Bay, Ireland. The Philip Lee Islamic Finance Survey, conducted between mid-December 2018 and early February 2019 with a representative sample of 400 Muslims residing in Ireland, revealed that 86% of respondents expressed a desire to purchase a home or investment property and 98% would […]
The Desk facilitated the purchase and supply of title to metal commodities, sourced from a number of suppliers, for the use by the Desk’s clients in Murabaha transactions Press Release Dubai: The Dubai Financial Services Authority (DFSA) has imposed restrictions on David Barnett and Christopher Steer following an investigation into their conduct while working on the Commodity […]
Assets of banks offering Islamic finance growing at 7% per year, according to Thomson Reuters Islamic start-up funding for small businesses is set to boom in Britain as the UK cements its position as the top Western centre for Sharia-compliant finance. The UK has five fully Sharia-compliant banks licensed with banking assets for around $4.7 […]
Taking philanthropy to a new level, UNHCR restructures its existing Zakat program into the Refugee Zakat Fund to help individuals and Islamic financial institutions realize their social responsibility with global impact Inaugural report indicates that Muslims pay around US$ 76 billion in Zakat each year, an amount with great potential to positively impact the world […]
This opinion piece is co-authored by HRH Princess Sarah Zeid, Global Advocate for Maternal, Child and Newborn Health in Humanitarian Settings, and Amir M. Abdulla, Deputy Executive Director of the World Food Programme. The rich culture of altruism in Islam emphasizes giving to those most in need. Today, nowhere is this generosity more strategically needed […]
