While Islamic finance centres in Southeast Asia and the Middle East keep dominating core developments in the sector, and news are currently almost exclusively focused on upcoming Shariah-compliant financial markets in Northern and Sub-Saharan Africa, Central Asia and Europe, activities elsewhere are quite out of the limelight, but unjustifiably so. An upcoming Islamic finance […]
Uncertainty around Islamic finance needs to be addressed, but so does the lack of standardisation about what is right and wrong in the west
Last Saturday 10 March, Farrukh Raza, Managing Director of IFAAS has delivered a successful workshop at the Emerging Markets Forum in London School of Economics. The theme of the workshop was ‘Islamic Finance – demystifying and emerging industry’. The audience was current students from the LSE and other high-profile business schools and universities across the country. The […]
Islamic Development Bank aims to sell $1bln green sukuk in 2018 Largest development organisation in the Muslim world is aiming to issue a benchmark-sized green sukuk this year to finance renewable energy projects LONDON: The Islamic Development Bank (IDB), the largest development organisation in the Muslim world, is aiming to issue a benchmark-sized green sukuk this year […]
Kazakhstan getting closer to implementing Islamic finance Kazakhstan will host a meeting on the implementation of Islamic finance on March 5, the regional office of the ICD (Islamic Corporation for the Development of the Private Sector) in Almaty told Trend. The meeting is expected to touch such issues as « Islamic finance as an alternative tool […]
This Monday, many of the world’s leading investors and experts will meet in the heart of the City of London. They are gathering to discuss one of the oldest but – conversely – also one of the most under-developed elements of the global financial market: Islamic finance. Delegates to the summit will focus in particular […]
by : Chloe Cornish and Robert Smith An Islamic bank has raised the first sharia-compliant bond backed by UK mortgages, highlighting the growing importance of Islamic finance for both capital markets fundraising and high-street lending in Britain. The UK has sought to make itself a hub for Islamic finance in the western world, with the […]
Bandar Hajjar, president of the Islamic Development Bank (IDB) has said the Saudi Arabia headquartered institution is planning soon to issue its largest sized Sukuk for $2.5 billion. The 57 member AAA rated development bank is a regular issuer of Sukuk having last issued in September 2017 with a $1.25 billion issuance which was priced at […]
The Ugandan government has approved regulations regarding the provision of Islamic finance, while the country’s central bank is expected to publish the rules in the coming months to improve financial inclusion. Once published, the central bank will be looking for application from financial institutions wanting to offer Shari’ah-compliant financial services. Uganda is the latest among […]
Now that two countries in the Gulf Cooperation Council (GCC), Saudi Arabia and the UAE, introduced a value added tax (VAT) regime for the first time ever, and the others are bound to follow, questions arise how such a consumer tax relates to Islamic finance products. Rating agency Fitch said in a statement ahead of […]
