Globally, gross Takaful premiums, or contributions, increased at a compound annual rate of 9% between 2014 and 2017 By Issac John, Khaleej Times The profitability of Takaful insurers will stabilise after falling in 2017 due to heavy price discounting in the GCC countries, and rising claims in south east Asia, Moody’s said, noting that global demand […]
Dubai – Mubasher: Dubai Islamic Bank (DIB) is looking at opportunities to support the expansion of its activities. To this end, the UAE’s largest Islamic Bank might acquire financial institutions in line with the bank’s strategy and directions of its shareholders and board of directors, the lender said in a statement to the Dubai Financial Market (DFM) on Sunday. DIB is […]
Mahathir Mohamad says Islamic finance can be ‘catalyst’ for growth of green developments globally. ANKARA Malaysia’s prime minister on Wednesday said that introduction of smart technology within the financial industry has “positively disrupted the industry”. “Fintech [financial technology] has also penetrated the Islamic finance space despite it being considered in a very early stage,” Malaysia’s […]
The presentation of the new “Market Report 2018” by the Labuan Financial Services Authority last week gives the opportunity to cast a light on Asia’s underreported Islamic finance hub and its future potential: Labuan. Labuan is a federal territory of Malaysia comprising one large main and six smaller islands located off the northern coast of […]
An Islamic Finance country report on the Republic of Djibouti is set to be launched tomorrow in Marrakech, Morocco, on the sidelines of the 44th Annual Meeting of the Islamic Development Bank (IsDB) Group. The report is produced by the Islamic Research and Training Institute (IRTI) of the IsDB Group, as part of the Islamic […]
By Edana RichardsonOpinion: Islamic finance has potential opportunities for the Irish financial services sector, but legislative changes are needed to make it work here In 2015, the Irish Government declared Islamic finance to be a sector of opportunities for Ireland’s financial services sector. This enthusiasm was not unreasonable. While Ireland’s Muslim population of just over 63,000 people in 2016 is […]
Top executive says segment has huge potential in Russia due to its large Muslim community. Abu Dhabi: Sberbank, Russia’s largest bank is exploring opportunities in the UAE and the Middle East as it pushes to expand its business in Islamic banking and other sectors, a top executive said yesterday Russia has a large Muslim […]
While a no-deal Brexit could have a significant negative impact on U.K.-based Islamic banks’ asset quality, it is unlikely to cause major disruption to their funding, according to a report published today by S&P Global Ratings titled “Countdown To Brexit: Implications Of A No-Deal Brexit For Islamic Finance.” The U.K. is home to five fully […]
The Parliament of Uganda passed the Islamic banking regulation in 2016, however it has been delayed by the requirement to set up the Shari’ah Advisory Board in the central bank. MARCH 2019 BY KUDAKWASHE MUZORIWA The finance minister expects the zero-interest system in Islamic Banking to attract a good number of Ugandan entrepreneurs, reported local daily, The […]
Qatar will launch an energy-focused Islamic lender later this year with a targeted capital of $10 billion to finance both domestic and global projects, an executive said Tuesday. Tiny but wealthy Qatar is one of the most influential players in the liquefied natural gas market with annual production of about 77 million tons, and it […]
By Arno Maierbrugger/Gulf Times Correspondent/Bangkok The three predominantly Muslim countries out of ten in the Association of Southeast Asian Nations (Asean), namely Malaysia, Indonesia and Brunei, are on the way to form a new hub for Islamic finance and the wider halal industry through their current roadmaps to develop the sector. Malaysia, which is already […]
Three securities regulators in the United Arab Emirates have agreed on the coordinated supervision of the marketing and selling of domestic funds across the country. The Emirates Securities and Commodities Authority (ESCA), Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Monday released details of a common […]
