Africa’s Growing Islamic Finance Footprint 1 Africa’s Growing Islamic Finance Footprint 1.1 CIBAFI Discusses Islamic Financed African Infrastructure Funding 1.2 ICD and Coris Bank International enter Agreement to establish Islamic window The use of Sukuk to fund Africa’s infrastructure needs as well as expanding Islamic Banking windows signal continued growth of African Islamic finance CIBAFI […]
The Islamic banking industry growing at a faster rate than conventional banking segment, with Islamic banking assets up more than 62 per cent year on year, according to a recent report issued by the Central Bank of Oman (CBO). Total assets held by Islamic banks and the Islamic banking windows of conventional lenders in February […]
UK Islamic Banks are expanding services to cater for London based property financing demand. QIB UK, part of the Qatar Islamic Bank group, and Al Rayan bank a UK subsidiary of Qatar based Masraf Al Rayan have both recently expanded offices and services to […]
Islamic finance is finance based on trade transactions in order to remove the basis of making money from money, often interpreted as interest. The trade transaction will typically involve an underlying asset. As such Islamic banks do not lend money, they enter into trade transactions based on leasing, partnerships and trading. Based on Article by Dr. Sami Al-Suwailem, Head, […]
North Africa’s First Islamic Treasury Bill issuance Nouakchott, 31st May 2017 – The Central Bank of Mauritania (CBM) announced the debut issuance of its new Sharia compliant instrument. Islamic banking market in Mauritania has experienced a strong growth over the last few years. The issuance of the new Islamic T-Bill marks a new chapter […]
Al Baraka Banking Group issues $400million Islamic Sukuk Al Baraka Banking Group B.S.C (“ABG”), the Bahrain-based leading Islamic banking group, announced the successful completion of its first Islamic Sukuk issue in the amount of US$ 400 million. The issue was well received in the GCC, Asian and European markets, and was five times oversubscribed, […]
The Cabinet approved during it sessions the formation of the UAE Council for Fatwa to be the sole reference for fatwa across the UAE and to ensure the alignment of all issued fatwa. The term refers to the ruling issued by Islamic scholars about an aspect of Islamic law. The Council will ensure that religious […]
Why London Will Remain The Islamic Finance Hub Of The West London’s mass popularity as a hub for Islamic finance emerged in 2013 when then-Prime Minister David Cameron unveiled plans to develop the British city into the Western capital of Islamic finance. In 2014, London took a step further when Britain became the first country outside […]
A report jointly published by the Islamic Development Bank (IDB) Group and the World Bank Group has outlined the potential of Islamic finance in curbing income inequality and ending poverty worldwide. The report, subtitled “Islamic Finance: A Catalyst for Shared Prosperity?”, was unveiled on Monday by IDB Group President Dr Bandar Hajjar at a […]
4 million Muslims in the U.S. make up one of the highest earning demographics in the country. Unsurprisingly, they’re looking to invest in financial vehicles that mirror their own beliefs. With assets growing at double-digit rates over the past decade, Islamic finance is ascending to greater prominence in the global financial system as it extends […]
