The provision of housing in Pakistan has not kept up with the fast-growing population, which is 207.8 million as per the census in 2017 — a drastic increase from 132.4m in 1998. As per various estimates, annual housing demand is between 400,000 and 700,000 units. But only 100,000 to 350,000 formal housing units are constructed […]
By: Muhammad Zulfikar Rakhmat and Dikanaya Tarahita In recent years halal tourism has grown substantially and occupies an important segment of international tourism. Statistical data shows that the value of the Muslim market worldwide stood at $2.3 trillion. With an estimated growth of up to 20% per year, this global halal industry has become the fastest growing consumer segment […]
By Jeremy Wall Ripple, the company behind XRP has made yet another massive stride in adoption. One of the largest Islamic banks in the world, Kuwait Finance House (KFH), has recently announced the launch of Ripple’s instant cross-border remittance service. The bank will be using Ripple’s sophisticated blockchain technology to process international payments for their customers in Saudi Riyal (SAR) […]
The digital revolution is beginning to transform the Islamic banking sector, as seen by the launches of several digital-only Islamic banks. Tech is also disrupting the way the rest of the Islamic finance ecosystem operates, according to the Islamic Finance Development 2018 report. The report can be downloaded HERE. The Islamic Finance Development Report 2018 shows that the global Islamic […]
Small farmers, low-cost housing, digital payments and a higher share for Islamic banks are the targets of the government’s new strategy for growth. Access to finance is super important for economic growth that a country can sustain and that includes everyone. With this in mind, the government has unveiled a National Financial Inclusion Strategy for […]
BRUNEI Darussalam remains in the top 10 best performing Islamic finance markets out of 131 countries as published in the Thomson Reuters Islamic Finance Development Report 2018 recently. The report, which takes into account data accumulated in 2017, revealed that Brunei’s score in the Islamic Finance Development Indicator (IFDI) increased from 47 to 50 – thus ranking […]
Bank officials said they are prepared to offer Islamic banking services to the people. Officials from Kabul-based banks – which provide Islamic banking services – said the number of their customers who are willing to be provided Islamic banking services is growing and that this makes them optimistic to further develop the sector in Afghanistan. […]
KARACHI: Despite being asset-backed, Islamic finance is still not immunised from risks associated with deficiencies in due diligence, inadequate buffers, lack of transparency and weak risk management practices. While addressing the book launching ceremony of Shariah Standards on Wednesday, SBP Governor Tariq Bajwa talked about the risks the Islamic banking industry needs to tackle. “Effective […]
Establishment of more Islamic banks in Southeast Asia and the Middle East will benefit more than 10 million Filipino Muslims The Central Bank will exercise regulatory powers and supervision over the operations of Islamic banks MANILA: The Philippines has moved a step closer to opening the country to the wide range of banking and other […]
KARACHI (Dunya News) – The Islamic Banking Industry of Pakistan, in collaboration with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and contribution of Mufti Muhammad Taqi Usmani, launched Urdu version of the Book ‘Sharaie Mayaarat’. Renowned leaders from Pakistan’s financial sector spoke on the occasion. State Bank of Pakistan Governor Tariq Bajwa was […]
In Summary Uganda is yet to register a single application from lenders in this segment of the business. Regulations were ready for an October launch but there are still no takers to rival neighbours Kenya and Tanzania. Kenya and Tanzania have for years had a number of banks that are Sharia-compliant, giving product options to […]
The Nigeria Deposit Insurance Corporation (NDIC) has been admitted as a full member of the Council of Islamic Financial Services Board (IFSB).A statement by the Head of Communications and Public Affairs of the NDIC, Mr. Mohammed Ibrahim, on Tuesday in Abuja noted that the NDIC joins the Central Bank of Nigeria (CBN) as the other […]
