The strict rules against charging interest and investments deemed contrary to Shariah law earn Islamic finance an understandable reputation for conservatism. But a wider-angle view reveals a different reality. With a youthful, globalized and digitally savvy audience, Islamic financial institutions are rapidly embracing some of the biggest trends in the banking world, notably digital and […]
Could Gatehouse Bank’s new ‘Home Purchase Plan’ help you secure a home? Gatehouse Bank has launched its longest fixed-rate deal for aspiring home buyers, becoming the latest Islamic bank to offer a five-year home finance option. So, what is the new Gatehouse mortgage alternative and how do these deals work? Islamic financial principles prevent you […]
The fourth session focused on the role of research and education institutes in raising awareness about the Islamic financial industry’s services RIYADH: The Islamic finance industry’s role in stimulating the national economy was highlighted at a Riyadh workshop organized by the Saudi Arabian Monetary Authority (SAMA). Turki Al-Mutairi, SAMA deputy governor for research and international […]
Fintech can enable Islamic finance to attract more customers, increase efficiency, reduce costs and offer a wider range of products, helping the sector become more competitive against conventional finance, according to the Qatar Financial Center (QFC). The Islamic banking and finance industry currently reaches about 100mn customers worldwide while the potential market is six times […]
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 […]
