(Reuters) – The Islamic Development Bank ( IDB ) has increased the ceiling of its Islamic bonds (sukuk) programme to $25 billion from $10 billion, as it aims to expand its financing across member countries, the Jeddah-based lender said on Tuesday. An expanded programme would support the AAA-rated bank’s aim to issue one sukuk publicly […]
Shariah compliance audit for Islamic Funds lecture Date: 12th June 2015 Time: 6.15pm Venue: EY 1 More London Place, London, Greater London, SE1 Speaker: Najib Alaswad Venue: EY 1 More London Place, London, Greater London, SE1 2AF (The venue is near the London Bridge Underground Station) (MAP) Najib Al Aswad About the Lecture: Islamic funds […]
Ajman Bank has begun transacting on the Nasdaq Dubai Murabaha Platform, which facilitates the provision of streamlined Shari’ah-compliant financing services. A ceremony to mark the occasion took place at Ajman Bank new Head Office in Ajman attended by Mohamed Amiri, Chief Executive Officer of Ajman Bank and Hamed Ali, Chief Executive of Nasdaq Dubai. Ajman Bank’s initial activity on the platform […]
May 14 (Reuters) – Morocco’s government adopted a bill on Thursday to regulate Islamic insurance, legislation that will face a final vote by parliament later this year, a cabinet statement said. It is the last step in Morocco’s legislative package to regulate the country’s fledgling Islamic finance industry. Earlier this year, it issued a decree […]
The Islamic Financial Services Board (IFSB) has launched a databank of industry indicators covering 15 member countries, helping shed new light on the size and shape of the sharia-compliant banking sector. The Kuala Lumpur-based IFSB, one of the main standard-setting bodies for Islamic finance, is supporting a range of initiatives to improve supervision of the […]
(Reuters) – Several Islamic insurers in the United Arab Emirates are seeking guidance from the UAE Insurance Authority on the possibility of mergers and acquisitions in the sector, Ibrahim Al Zaabi, director-general of the authority, told Reuters on Monday. Talks are at an early stage, he said on the sidelines of an Islamic insurance (takaful) […]
The Islamic Financial Services Board (IFSB) has launched a databank of industry indicators covering 15 member countries, helping shed new light on the size and shape of the sharia-compliant banking sector. The Kuala Lumpur-based IFSB, one of the main standard-setting bodies for Islamic finance, is supporting a range of initiatives to improve supervision of the […]
The 57 mostly Muslim-majority member countries of the OIC (Organization of Islamic Cooperation) represent a collective GDP (current) in 2013 of $6.7 trillion and are projected to grow 2015-19 at a higher rate than rest of the world or BRIC nations. (OIC markets 5.4% versus rest of world (ROW) 3.6% and BRICS 3.9%.) See the infographic […]
(Reuters) – Lloyd’s of London [SOLYD.UL] has set its sights on Islamic insurance, known as takaful, to strengthen its push into emerging markets and is in talks with regulators to set up shop in Malaysia. The plans are part of the venerable London insurance market’s strategy to expand in fast-growing regions where insurance penetration remains […]
Dubai The value of announced M&A transactions with any Middle Eastern involvement reached $9.5 billion during the first quarter of 2015, less than half the value registered during the previous quarter, but marking a 152 per cent increase from the first three months of 2014 and the best annual start since 2012. Middle Eastern equity […]
(Reuters) – The International Monetary Fund has endorsed the principles of Islamic finance, saying it could prove safer than conventional finance, but the multilateral lender warned Islamic bankers that they must tighten rules and follow them more consistently. A report released by the IMF this week showed the lender’s growing interest in Islamic banking, which […]
The digital Islamic economy is set double to USD 30 billion by 2018 on the back on rising consumer spending on sharia-compliant services in the Middle East, dispelling the notion that Islam is incompatible with the modern world. Core Islamic economy sectors such as halal food, halal travel, fashion, Islamic finance, media, recreation and culture, […]
