Tawarruq

The authorities, however, need to put certain parameters and limitations in the use of the concept ISLAMIC financial products have evolved from simple and straightforward structures to highly sophisticated and multifaceted instruments. During the 1980s and 1990s, Islamic financial products were dominated by deposits and savings, syndicated project financing, syariah-compliant stocks and mutual funds. The […]

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Morocco opens an Islamic finance window

Looking out across the harbour in Casablanca, huge cranes laden with workers line the horizon, creating a dynamic landscape as the sun begins to set. In Morocco’s financial capital, construction goes on into the late hours of the day. While builders continue to toil, office workers spill out of high-rises to make the long commute […]

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IFAAS Launches its Pakistan Office

IFAAS Launches its Pakistan Office IFAAS expands its services to South Asian market by launching a new office in Pakistan with the vision to strengthen growing Islamic Finance Industry in the country 20th March 2017- IFAAS, international Islamic advisory firm has opened its fourth international office. The new Pakistan office is now operational and would be […]

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East African Regulators Allow More Islamic Finance Services

By Njiraini Muchira As the financial sector in the region grapples with a confidence crisis following the collapse of some banks, Islamic finance is expected to take root as governments enact laws that allow rollout of Sharia-compliant products and services. Currently, the Islamic finance market is dominated by conventional banks that have Islamic banking windows […]

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Islamic Finance: An Innovative Avenue For Financing The Sustainable Development Goals

The 2030 Agenda for Sustainable Development seeks to eradicate poverty in all its forms, promote sustained and inclusive economic growth and ensure social development and environmental protection while supporting peaceful, just and inclusive societies. To succeed, the international, national and local actors, including the private sector, will have to venture in a true global partnership […]

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New Report Outlines Actions to Leverage Islamic Finance for Development

The World Bank Group and the Islamic Development Bank published the first Global Report on Islamic Finance, which details the prospects for the global Islamic finance industry and its potential to help reduce worldwide income inequality, enhance sharing prosperity, and achieve the Sustainable Development Goals. Subtitled “A Catalyst for Shared Prosperity?”, the report provides an […]

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Charity, certainty, and transparency: What the world can learn from Islamic finance

Key takeaways. (Reuters/Wahyu Putro A/Antara Foto) By 2030, more than a quarter of the world’s population will be Muslim. However, most conventional financiers do not offer financing arrangements that suit the particular restrictions that Muslims face when it comes to money, contracts, and finance. Islamic finance is based upon principles of ethics and transparency—which means […]

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Trump and Brexit events highlight the need for more Participation/Islamic Finance

The report proposes that after decades of increasing financial inequality and insecurity, the majority of citizens in the USA and UK have expressed their desire for change via the election of Trump and the Brexit referendum. This demographic has been broadly excluded from substantial wealth creation of recent decades that has been largely driven by […]

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Islamic finance body drafts new standard for centralised sharia boards

By Bernardo Vizcaino Feb 9 A global body for Islamic finance has issued a draft standard on centralized sharia boards, aiming to improve corporate governance in the industry and increase the consumer appeal of sharia-compliant financial products. The proposed rules come at a time when Islamic banks are trying to widen their appeal to consumers […]

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