Deputy Prime minister in Charge of the Economy Mehmet Şimşek, speaking at the Interest-Free Finance Coordination Board’s meeting on the growing importance of Islamic banking, said the size of the sector globally was projected to grow to $3.5 trillion in the next five years and Turkey aimed to manage a sizeable portion of this huge […]
DONT MISS THIS DATE : Monday the 31st of October Islamic Finance Q&A: Ask the experts at IRAcademy A session with Mohammed Kroessin, Head of Islamic Microfinance Business Unit, Islamic Relief Worldwide & Najib Al Aswad, Associate Director, IFAAS Group This Q&A session will provide you with an understanding of the basic principles that make […]
A currency dealer counts Kenya shillings at a money exchange counter in Nairobi October 23, 2008. The Kenya shilling breached the important 80.00 level on Thursday reaching a near four-year low, despite assurances by the central bank, due to demand for dollars. At 0800 GMT, commercial banks traded the unit at 80.10/20 against the dollar […]
Alan Greenspan once described people to people contact as a key pillar to building commerce and creating economic activity. Taking the former Chairman of the Federal Reverse at his words, the gathering of individuals at the Global Islamic Economy Summit 2016 this week in Dubai would have done much to create the relationships and entrepreneurial […]
Axel Threlfall, Dr Adnan Chilwan, Prof Dr Mohamed Azmi bin Omar and Hassan Al Damluji at the event. (Shihab) Islamic finance may be the answer to plug funding gaps for sustainable development goals (SDGs), said industry experts during a plenary session on the first day of the Global Islamic Economy Summit 2016. The session explored […]
Sovereigns, Banks and Corporates in the Gulf will Boost Sukuk Sales in 2017. Sukuk issuances are expected to be flat at around $70 billion for 2016, but are expected to pick up in 2017 as issuers ranging from sovereigns, banks and corporates in the Gulf look to issue to meet their financing needs. $40bn of […]
With only roughly 20 million Muslims in China, it is not surprising that Islamic finance has not taken off in China. Recently, however, some Chinese companies have expressed interest in tapping into offshore pools of Islamic funds. For example, HNA Group, a mainland Chinese firm that owns Hainan airlines, is reportedly considering Islamic financing options […]
Emerging East Asia’s G3 currency bond issuance declined 2.5% y-o-y in January–July Report by Asian Development Bank – Asia Bond Monitor September 2016, Review of Islamic Finance and Sukuk market in South East Asia. Sukuk represented 11.8% share vs. conventional in Indonesia and 54.6% in Malaysia In Southeast Asia, total G3 currency bond issues (bonds […]
Retail Demand and Government Support is Helping Boost Growth Strong retail demand and proactive government support is assisting Islamic banks to grow at a faster pace when compared with their conventional peers. Khalid Howladar, Global Head of Islamic Finance at rating agency stated “Growth in the Islamic banking sector continues to broadly outpace that of […]
Article by Jayesh H, Monil Chheda & Sanjana Rao In September 2015, the IMF estimated that the aggregate financial assets, held in Islamic accounts, were above US$2 trillion globally and that they would outperform the growth of conventional finance in many countries. Renowned Indian economist MS Swaminathan, who is also the pioneer of green revolution […]
