A Saudi trader holds prayer beads as he works at the Saudi Investment Bank in Riyadh Reuters/STR New Dubai: The share of sukuk issuance in core markets such as the Gulf Cooperation Council (GCC) region, Malaysia, Indonesia, Turkey and Pakistan are expected to keep up their market share in 2017 in the total debt capital […]
Islamic finance an appealing option for international students "Since the financial crisis specialist teams within financial institutions, such as those working in Islamic finance, are seen as more significant," says Professor Naik Islamic finance is attracting increasing numbers of executives from diverse backgrounds, according to a London Business School finance professor. Narayan Naik, Professor of […]
Malaysia’s securities regulator has proposed establishing a fund to invest in the country’s Islamic finance funds and make them more attractive to institutional and foreign investors. The southeast Asian country has carved out a leading role in Islamic finance. Malaysian asset managers hold 132.4 billion ringgit ($30 billion) worth of sharia-compliant assets – among the […]
By JAMES NGUNJIRI The Insurance (Amendment) Act 2016 signed into law by President Uhuru Kenyatta last week, is set to enhance Kenya’s position as the premier Islamic financial hub on the African continent. The move came a week after the Capital Markets Authority (CMA) was admitted by the Council of the Islamic Financial Services Board […]
Rabat – Halal credits and Sharia compliant bank accounts are now available in Morocco as the Central Bank and the Ministry of Economy and Finance have authorized the opening of five Islamic banks, referred to as “participatory” banks, according to a press release published this Monday. No authorizations had so far been granted to foreign banks […]
Islamic finance is a part of the global financial services industry that is continuing to expand, both geographically and in terms of the industries and sectors that it services. As further expansion is anticipated, particularly in the aviation sector, Michael Savva, from legal firm, Watson Farley & Williams (Middle East), explains what is involved. Financiers […]
Although Malaysia is a leader in Islamic finance research, very few of the research papers published have translated into feasible innovations, until recently. To help push the sector forward and bring the research and ideas to fruition, International Centre for Education in Islamic Finance (INCEIF), with the support of Bank Negara Malaysia, the Association of […]
There are now about 25 Islamic financial institutions in the United States. The top three banks offering Islamic financial services in the United States in terms of asset size are The American Islamic Finance House, University Bank (through its subsidiary University Islamic Financial) and Harvard Islamic Finance Program. J.P. Morgan started offering Islamic banking services […]
One of the leading Islamic financial institutions in the UAE, Emirates Islamic, is leading efforts to foster innovation in the workplace. The bank recently organised an ‘Innovation Day’ where various internal teams shared and showcased their innovations with working prototypes, to the bank’s management. Emirates Islamic staff across business units participated in the event, designed […]
By Obinna Chima A Chartered Accountant and Tax Administrator, Mr. Bicci Alli has said that the federal government as well as states cannot shun Islamic financial instruments whose market is valued at over $2.6 trillion, because it has the capability to bridge the infrastructure deficit in the country. Alli, said this in a presentation titled: […]
In January 2012, the Central Bank of Nigeria granted Jaiz Bank an approval in principle to operate as a regional interest-free bank in northern Nigeria. As a result of that, Jaiz bank became the first and the only full-fledged Islamic banking in Nigeria. Islamic banking is based on the principles of profit and loss sharing. […]
New standards for the use of precious metals in Islamic finance are encouraging the development of financial products based on gold and silver, from futures contracts to a mobile app. The Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), which sets guidelines followed in whole or in part by Islamic financial firms around […]
