MOSCOW By Dmitriy I. Frolovskiy Islamic finance is drawing more interest in Russia as the country struggles economically and requires fundamentally new approaches to attract investments from abroad. The sector is just beginning to grow in Russia and its perspectives were discussed during the recent Gaidar’s Forum in Moscow, one of the major annual international […]
A man walks past the logo of Al Rajhi International for Investment at the headquarters building in Khartoum North, Sudan January 13,2016. REUTERS/MOHAMED NURELDIN ABDALLAH Australia has begun to see a steady stream of property deals using Islamic financing as the attraction of low-risk tenants and a weak Australian dollar offset concerns about the lack […]
Kenya is reviewing all laws and regulations governing its nascent Islamic finance industry to aid the issuance of a debut Islamic law-compliant bond known as a sukuk, its attorney general said on Wednesday. The East African nation, which issued its first Eurobond in 2014, wants to expand the range of financing available for infrastructure projects like roads […]
Feb 16 A law firm and an Islamic finance advisory firm are working to adapt Italy’s "mini-bonds" legislation to provide sharia-compliant funding options as an alternative to bank lending. Three years of recession have limited funding for Italian companies, in particular for smaller firms, which is encouraging the use of less traditional funding sources such […]
Islamic finance has rapidly expanded over the past decade and there is now more than $2 trillion in Islamic financial assets The Bank of England has become the first major Western central bank to set out its stall for sharia-compliant deposit facilities, as Britain seeks to pitch London as the preeminent global centre for Islamic […]
Kenya Commercial Bank Group CEO Joshua Oigara speaks during the launch of the Islamic banking at Hilton Hotel in Nairobi April 9, 2015. A quiet revolution is taking place in the banking and finance sector; the steady growth of Islamic banking in the country. PHOTO | SALATON NJAU | In Summary When the concept of […]
The Malta Stock Exchange (MSE) will launch on Monday an Islamic equity index aiming to attract business from Middle East firms, a move it hopes will also prompt the government to issue Islamic bonds (sukuk), senior executives told Reuters. The 25-year old MSE is rolling out a new strategy which includes facilitating financial products that […]
Over 800 Halal certified companies set for Halal World Food at Gulfood 2016 as major international retailers explore new products in Dubai re-exports boost Halal sector opportunities to come under conference spotlight at Gulfood Halal Forum Dubai, UAE: Worldwide spending on global Halal food and lifestyle products could rise 10.8% a year until 2019 to […]
As more Western companies do business in the Middle East, Islamic finance has become an increasingly important part of the world economy.But Islamic finance follows different rules than conventional Western economies, in keeping with sharia, the Islamic legal system. Demand for sharia-compliant banks is growing rapidly, with Ernst & Young projecting an annual growth rate […]
Muscat – Oman’s Islamic banks have achieved robust growth in finance, which crossed OMR1.6 billion by the end of November 2015. The Islamic banks and window operations achieved a 65.49 per cent growth in finance, which touched OMR1,644.5 million by end-November 2015, against OMR993.7 million for the same period last year. “Islamic banks grew very […]
2016 should be the year when regulation and standardisation make their mark on the Islamic finance world Regulation and standardisation have started to receive stronger attention, as the Islamic finance industry expands its international footprint and the range of products and services proliferates at an accelerating rate. National financial regulators and central banks are increasingly […]
Africa forum to host key policymakers to drive discussions on regulations enabling integration of Islamic finance into financial system and realising Islamic finance potential. The upcoming second International Forum on Islamic Finance (IFIF 2016) in Khartoum, Sudan, is planned to serve as a key platform for critical discussions on developing effective regulation and supervision of […]
