By: Maharlika Alonto, Maria Theresa Abogado Big leaps have been made recently in terms of realizing financial inclusion and socioeconomic development. Last month, the Senate approved on third reading a bill authorizing the expansion of the Islamic banking system in the Philippines, which shall be under the supervision of the Bangko Sentral ng Pilipinas and regulated by […]
For the longest time, Bank Negara Malaysia (BNM) have been conducting their experiments on Islamic Banking institution to build a viable business model that can be the example to the world. Islamic Banks are naturally seen as the prudent, stable and right platform to design, build and test new structures and conditions. That exploratory mode […]
In arid and semi-arid lands (ASALs), extreme weather manifestations such as droughts caused by prolonged dry spells, among other climate stressors, put ASALs at risk and intensify conflicts. Worsening climate change impacts such as extreme rainfall fluctuations and temperatures are having a negative impact on agricultural food production, livestock value chains and livelihoods. To tackle Sustainable Development […]
SINGAPORE, July 1 — Digitisation, along with continued government commitment to develop Islamic banking, will support the growth of the sector in both Malaysia and Indonesia, according to Moody’s Investors Service. “Backed by strong profitability, Islamic banks in both Malaysia and Indonesia are stepping up their investments in digitisation, which should help the industry expand […]
Oman’s Islamic banking assets are ranked 13th largest in the world By Gulam Ali Khan, Muscat Daily Muscat- Financial technologies, commonly known as Fintech, can enable Oman’s Islamic banking institutions to rapidly expand their outreach, boost efficiencies and uncloak new growth opportunities. The rise of Fintech is helping Oman’s economy and Islamic banking sector to be […]
By Lee C. Chipongian The Bangko Sentral ng Pilipinas (BSP) will fast-track the issuance of regulations and rules for the development of Islamic finance in the country as soon as President Duterte approves and signs the Islamic Banking Law. BSP Governor Benjamin E. Diokno has identified the implementation of the Islamic Banking Law as one […]
Sovereign issuance accounted for 97 per cent of sukuk in the South East Asian country this year, Indonesian ministry of finance says Indonesia, a top issuer of Islamic bonds this year, is struggling to convince its private sector to follow its lead and raise debt through sukuk, making it difficult for the country to achieve […]
JEDDAH — The Islamic finance industry will continue to grow slowly in 2019-2020, S&P Global Ratings said in a new report Monday. The industry expanded by about 2% in 2018 compared with 10% the previous year, according to S&P Global estimates, with strong support from the sukuk market. In 2017, most of the growth stemmed from […]
BY AIDANA YERGALIYEVA NUR-SULTAN – Islamic Corporation for the Development of the Private Sector (ICD) seeks to advance the private sector in Central Asia through funding agricultural and transport infrastructure projects, thus hoping to include them in the Islamic Finance market, ICD CEO and General Manager Ayman Sejiny told The Astana Times. Founded in November […]
The UAE, considered the capital of the Islamic economy, seeks to strengthen its economic and trade ties with the Duchy of Luxembourg as well to enhance cooperation in Islamic banking. BY KUDAKWASHE MUZORIWA The UAE’s Minister of State for Financial Affairs, Obaid Humaid Al Tayer, held a meeting with his Luxembourg counterpart Pierre Gramegna, who is […]
FCI, the global body representing factoring and receivables finance companies, is creating a new Islamic factoring chapter within its network. The aim is to “increase financing opportunities for SMEs via Islamic factoring”, FCI says. The association has signed an agreement with the International Islamic Trade Finance Corporation (ITFC) – a member of the Islamic Development […]
A Scottish college is offering Masters degree programmes on Islamic finance. Dundee’s Al-Maktoum College of Higher Education is collaborating with the University of Dundee to offer qualifications in MSc Islamic Finance, MSc Islamic Banking and Finance and MSc Islamic Banking, Finance and International Business. Islamic Finance is based on Shariah law that prohibits charging or […]
