Although Malaysia is a leader in Islamic finance research, very few of the research papers published have translated into feasible innovations, until recently. To help push the sector forward and bring the research and ideas to fruition, International Centre for Education in Islamic Finance (INCEIF), with the support of Bank Negara Malaysia, the Association of […]
There are now about 25 Islamic financial institutions in the United States. The top three banks offering Islamic financial services in the United States in terms of asset size are The American Islamic Finance House, University Bank (through its subsidiary University Islamic Financial) and Harvard Islamic Finance Program. J.P. Morgan started offering Islamic banking services […]
One of the leading Islamic financial institutions in the UAE, Emirates Islamic, is leading efforts to foster innovation in the workplace. The bank recently organised an ‘Innovation Day’ where various internal teams shared and showcased their innovations with working prototypes, to the bank’s management. Emirates Islamic staff across business units participated in the event, designed […]
By Obinna Chima A Chartered Accountant and Tax Administrator, Mr. Bicci Alli has said that the federal government as well as states cannot shun Islamic financial instruments whose market is valued at over $2.6 trillion, because it has the capability to bridge the infrastructure deficit in the country. Alli, said this in a presentation titled: […]
In January 2012, the Central Bank of Nigeria granted Jaiz Bank an approval in principle to operate as a regional interest-free bank in northern Nigeria. As a result of that, Jaiz bank became the first and the only full-fledged Islamic banking in Nigeria. Islamic banking is based on the principles of profit and loss sharing. […]
New standards for the use of precious metals in Islamic finance are encouraging the development of financial products based on gold and silver, from futures contracts to a mobile app. The Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), which sets guidelines followed in whole or in part by Islamic financial firms around […]
Islamic financing remains above that of conventional banks on the back of enhanced recognition of Islamic finance and wider adoption of Shariah products, especially in retail. (Reuters file) Islamic financing growth in the UAE has slowed in 2016, but remained above that of conventional banks on the back of enhanced recognition of Islamic finance and […]
One interesting feature about finance is that the financial spectrum is remarkably broad. Indeed, there is a multitude of fields that one could specialise in. Islamic finance is indubitably one of them. Although its recent rise, Islamic finance has been implementing Sharia (Islamic law) to finance for centuries. In the Muslim world, finance differs from the […]
* To encourage new Islamic finance products using gold * Sukuk, ETFs, trading accounts in development * Guidance also applies to silver-based contracts * Same-day settlement reduces risk, may be less convenient * AAOIFI plans workshops for wholesale gold market By Bernardo Vizcaino Islamic finance experts have developed new rules for gold transactions, they said […]
Thomson Reuters has released the findings of its fifth consecutive Sukuk Perceptions and Forecast study. Despite a bleak 2015, market players remained hopeful for robust year ahead with expectations of oil-exporting countries in core markets to turn to Sukuk as a primary debt management tool. Core markets have adapted to ongoing low oil prices, while […]
