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 […]
IFAAS extends its activities in Africa IFAAS, the international Islamic finance advisory firm, extends its engagement in Africa by announcing the plan to open a new office in Casablanca, Morocco’s commercial capital and the gateway to Africa. 23rd May 2017 – IFAAS, (Islamic Finance Advisory & Assurance Services – www.ifaas.com/fr) announced today at the African […]
* Document gives first indications of PM’s policies * New government preparing Islamic finance framework * Plans changes to welfare, subsidy system * Revenues have declined with oil-price slide (Adds details throughout) ALGIERS, June 20 Algeria’s new government is preparing the legal framework for Islamic finance and new Islamic bonds and will make changes […]
Southeast Asia is enjoying rapid economic development, while many Muslims have become prosperous in the region. But the Quran forbids charging interest rates on loans. Nevertheless, Malaysia’s top banks are offering an alternative approach, known as Islamic finance. Tom McGregor takes a closer look. Tom McGregor — The Quran, Islam’s holy book, prohibits Muslims from charging interest rates […]
The Islamic Financial Services Industry sustains its growing market share in 2016 Amidst a challenging external environment brought on by the changing policy directions and uncertainties in the global economic landscape, institutions offering Islamic financial services (IIFS) have continued to grow and gain market share, particularly in their home jurisdictions. However, the previously observed double-digit […]
Islamic banking has been one of the financial industry’s great growth stories over the past few years. The Islamic (interest-free) model has encouraged innovation, both in terms of product offerings and business support. In a break from convention, Islamic banks aim to function as true financial partners for their clients, as opposed to taking on […]
After wowing the markets with its landmark US$17.5bn sovereign bond, the KSA repeated the trick on the Islamic finance side, issuing the largest sukuk in history and pricing effectively flat to the conventional sovereign curve. Background In April 2017, Saudi Arabia was looking to capitalize on its ground-breaking US$17.5bn conventional bond issued last autumn, and […]
Boeing Capital is exploring opportunities for Islamic finance in the aviation sector and the possibility of including aircraft finance in the Islamic sukuk market, in which an aircraft finance portfolio would be secured by an instrument known as the Enhanced Equipment Trust Certificate. Boeing Capital in […]
A woman walks past a branch of Al Baraka Bank in Algiers city on April 5. With the economy emerging from decades of centralised control, Algeria badly needs alternatives to the energy revenues that have traditionally financed 60% of the budget. Reuters/Algiers When experts in Islamic banking gathered earlier this year at a state-run hotel […]
Report by IMF highlights key challenges facing the Islamic Financial Industry. Islamic Banking (IB) has grown rapidly in value and geographical reach, and has become an important and integral part of the financial systems in many countries. Though IB accounts for less than 2 percent of global finance, IBs currently operate in more than 60 […]
