Bello Danbatta, the Secretary General of the Islamic Financial Services Board (IFSB) sees Kazakhstan, the Caspian region’s third-largest economy, as a potential hub for Islamic banking in and around Central Asia. “We see here a huge potential for the development of Islamic finance,” Danbatta said Wednesday, according to reports by Kazinform. “With the population of 18 […]
Forty-six per cent of British Muslims have never used Islamic finance, says a survey by the Shariah-compliant Gatehouse Bank. This marks “a wake-up call to the UK Islamic banking industry”, Gatehouse said in a statement on Wednesday. “Our report highlights that providers of Shariah-compliant finance are missing out because of a largely untapped market for […]
By Ray Chickrie Caribbean News Now contributor GEORGETOWN, Guyana – A team of six officials from the Islamic Development Bank led by Noureddine Mabrouk arrived in Guyana last Wednesday to scope renewable energy projects for off-grid area in partnership with the Guyana Energy Agency (GEA). The Islamic Bank team includes Noreddine Citroen, project management specialist; […]
Written by: Emma Lunn Nearly half (46 per cent) of Muslim consumers have never used Shariah-compliant financial products, according to Gatehouse Bank. The bank said the figure – which rises to 53 per cent among Muslim women – underlines the challenge faced by Shariah-compliant finance providers. Gatehouse’s Islamic Finance Consumer Report also found that seven […]
The Peninsula Doha: Islamic banks are playing a vital role in Qatar’s financial and banking sector, H E Sheikh Abdullah bin Saoud Al Thani, Governor, Qatar Central Bank (QCB), has said. In a statement issued on the occasion of the launch of an annual report on Qatar’s Islamic banks’ performance, the QCB Governor said the central […]
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 […]
