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 […]
The profitability of Islamic banks in the Arabian Gulf is likely to deteriorate this year and the next as the fallout from the price of oil continues to make it more difficult for businesses to service debt, according to the latest report from Standard & Poor’s Global Ratings. The 70 per cent drop in oil […]
Ethical and inclusive nature of Islamic finance make it a sustainable option Dubai: A high level forum on Islamic Finance in the Arab region on Sunday called for strengthening Islamic banking regulation and supervision. It was organised by the Arab Monetary Fund and the International Monetary Fund, in collaboration with World Bank, Islamic Development Bank, […]
With the Islamic finance industry set to be worth US$3 trillion in the next decade, gold could be a catalyst for its growth with the setting of new regulations that will allow Islamic investors for access to gold-based products for the first time. The market development body, the World Gold Council (WGC), which is based […]
A distinguished panel of heads of regulatory authorities and other industry operators today outlined ways in which Islamic finance could play a role towards achieving the Sustainable Development Goals (SDGs). They spoke during the 11th IDB Global Forum on Islamic Finance, jointly organised by the Islamic Research and Training Institute (IRTI) and Bank Indonesia as part […]
Islamic finance institutions will present a set of guidelines for Muslim charitable institutions later this month, as the industry looks to develop a more efficient use of their assets, an Indonesian central bank official told Reuters. Islamic endowments (awqaf) and alms-giving (zakat) have been in existence for centuries and hold billions of dollars in assets […]
The Australian government has proposed removing tax barriers to asset-backed financing arrangements as part of its federal budget, a move likely aimed at facilitating interest-free transactions used in Islamic finance. Islamic finance is gradually catching on in Australia, with National Australia Bank Ltd helping fund a A$160 million ($114 million) Brisbane property purchase in February, […]
THE financial services industry is a highly-regulated industry due to the mobilisation of investors, depositors and policyholders, that is, public funds. Significant public trust demands proper supervision and monitoring of financial services and, hence, the promulgation of statutes, statutory provisions, guidelines and circulars with direct supervision from financial authorities. Soundness and stability of the financial […]
