Malaysia chases the big money in Islamic finance

One can make an argument that the only bright spot in Malaysian finance, commerce and politics today is Islamic finance. It is the only area where Malaysia leads the world. The Securities Commission intends to keep it that way and in January launched a five-year blueprint to cement its status.  How? Malaysia already leads the […]

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Islamic finance sees big growth in Europe

finance is a concept that people working in the banking and finance industries are likely to come across in their careers. Islamic finance, despite its label, is not limited to Muslim countries. It has shown growth globally, including in Europe. Total Islamic finance assets worldwide are projected to grow to $3.5 trillion by 2021 from […]

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Morocco launches Islamic banking services

Marrakech, Morocco. Five banks in Morocco have been granted permission by the central bank to offer Islamic banking services and products Sharia-compliant finance has made its debut in Morocco, with the government approving Islamic products and services in the banking sector Morocco has become the latest Muslim-majority country to authorise Islamic banking. The central bank […]

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Africa Finance Corporation issues $150 million maiden sukuk

LAGOS — Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has issued its maiden sukuk, the highest-rated ever sukuk issuance from an African institution. Following high levels of investor interest, the initial target of $100 million was more than twice oversubscribed, resulting in the transaction being upsized to $150 […]

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Islamic finance an appealing option for international students

Islamic finance an appealing option for international students "Since the financial crisis specialist teams within financial institutions, such as those working in Islamic finance, are seen as more significant," says Professor Naik Islamic finance is attracting increasing numbers of executives from diverse backgrounds, according to a London Business School finance professor. Narayan Naik, Professor of […]

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Malaysia considering fund to spur foreign investment in Islamic finance

Malaysia’s securities regulator has proposed establishing a fund to invest in the country’s Islamic finance funds and make them more attractive to institutional and foreign investors. The southeast Asian country has carved out a leading role in Islamic finance. Malaysian asset managers hold 132.4 billion ringgit ($30 billion) worth of sharia-compliant assets – among the […]

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Islamic finance roots grow deeper in Kenya

By JAMES NGUNJIRI The Insurance (Amendment) Act 2016 signed into law by President Uhuru Kenyatta last week, is set to enhance Kenya’s position as the premier Islamic financial hub on the African continent. The move came a week after the Capital Markets Authority (CMA) was admitted by the Council of the Islamic Financial Services Board […]

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Morocco Turns to Islamic Finance

Rabat – Halal credits and Sharia compliant bank accounts are now available in Morocco as the Central Bank and the Ministry of Economy and Finance have authorized the opening of five Islamic banks, referred to as “participatory” banks, according to a press release published this Monday. No authorizations had so far been granted to foreign banks […]

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Islamic finance continues to gather pace

Islamic finance is a part of the global financial services industry that is continuing to expand, both geographically and in terms of the industries and sectors that it services. As further expansion is anticipated, particularly in the aviation sector, Michael Savva, from legal firm, Watson Farley & Williams (Middle East), explains what is involved. Financiers […]

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Innovation in Islamic finance

Although Malaysia is a leader in Islamic finance research, very few of the research papers published have translated into feasible innovations, until recently. To help push the sector forward and bring the research and ideas to fruition, International Centre for Education in Islamic Finance (INCEIF), with the support of Bank Negara Malaysia, the Association of […]

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Hot trend in 2017: Rise of Islamic banks on Main St. USA

There are now about 25 Islamic financial institutions in the United States. The top three banks offering Islamic financial services in the United States in terms of asset size are The American Islamic Finance House, University Bank (through its subsidiary University Islamic Financial) and Harvard Islamic Finance Program. J.P. Morgan started offering Islamic banking services […]

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