By Jaafar Abdulkadir As Islamic banking gradually continues to make strides into the mainstream financial services sector in Kenya, players are increasingly redefining their relationship with customers. Just how does Islamic banking operate? How do the financiers cushion themselves from customer defaults and associated risks? Islamic banking operates on the basis of contracts that are […]
The world of Islamic finance and investing represents an exciting world of opportunities for Muslims all over the world, and one we think should likely continue to grow. I recently had the pleasure of attending the Global International Islamic Finance Forum (GIFF) in Malaysia and had the opportunity to share our team’s views as well […]
Algeria is preparing to launch Islamic financial services as the OPEC member seeks new ways to raise money after a sharp fall in energy earnings, a senior financial official told Reuters in an interview. Boualem Djebbar, head of the state-run Banks and Financial Institutions Association, said plans to offer Islamic finance products were part of […]
Chinese President Xi Jinping walks downstairs upon his arrival a day before the G20 Summit in St. Petersburg Reuters/RIA Novosti In 2013, Chinese President Xi Jinping unveiled the Silk Road Economic Belt and the 21st-century Maritime Silk Road initiative now known as One Belt One Road, (OBOR) in order to actively develop connectivity and economic […]
Image Credit: Luis Vazquez/©Gulf News Roughly one-third of those suffering from extreme poverty worldwide live in member states of the Organisation of Islamic Cooperation (OIC). In 21 of those 57 countries, fewer than half of the population has access to adequate sanitation. Four per cent of infants born in these countries die before they reach […]
Fleur Cafe in budget hotel The Daulat, Singapore was opened with the help of Islamic crowdfunds. KUALA LUMPUR Islamic finance is not growing like it used to, rattled by the commodities slump and political instability in some Muslim-majority countries. Market players are warning that the industry depends too heavily on oil and gas for revenue, and […]
Jamal Al Jassmi, General Manager of EIBFS As part of its ongoing commitment to impart Islamic banking and finance education, Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a day-long workshop on the current and future landscape of the sharia-compliant asset management sector for […]
JAKARTA, Saudi Arabia has joined Turkey, Indonesia and the Jeddah-based Islamic Development Bank (IDB) as a prospective founder member of a new Islamic finance infrastructure bank, according to Indonesia’s finance minister. Speaking to Reuters on the sidelines of the annual IDB meeting of governors in Jakarta on Thursday, Bambang Brodjonegoro said the four could contribute […]
A mosque, right, stands among rows of painted residential houses in this aerial photograph taken over Bristol, UK, on December 17, 2015. In the UK, the idea of a rent-to-own scheme technically based on the long-established Islamic contract of ijara came up last year when the Liberal Democrats party proposed such a model for less […]
May, 2016 (LBO) – Sri Lanka’s Islamic Finance sector continues to grow steadily but lacks staff that are qualified and have technical knowledge, the recently launched Islamic Finance country report 2016 said. “Despite the growth in the number of players, not a great deal of progress has been made in terms of the numbers of […]
