Al Rayan Bank (UK), the country’s largest and oldest Islamic retail bank, has had an impressive start to 2018 by winning two prestigious awards. The bank has been named as the ‘Best Islamic Bank in the UK’ at the 2017 Islamic Finance News (IFN) Awards. This accolade follows it being named as the ‘UK’s Best […]
Islamic finance is one of the fastest growing areas of international finance. Finding its basis in the ethical teachings of Islam, it is steadily growing in appeal, thanks in no small part to the scale of the available market. Indeed, there are 1.6 billion Muslims around the world and there is clearly room for continued […]
After years of stagnation, if not recession, the Italian economy is now recovering. Indeed, Italy’s GDP advanced 0.4% in the three months to June 2017, unrevised from the preliminary estimate and following an increase of 0.4% in the previous period. The expansion was driven by firm consumer spending, a rebound in fixed investment and inventory […]
Bahrain tops GCC’s Islamic finance league table Manama Islamic finance assets are projected to reach $3.8 trillion by 2022 from $2.2 trillion in 2016, according to the ICD. Bahrain features prominently in a new report into Islamic Finance from Thomson Reuters in cooperation with the Islamic Corporation for the Development of the Private Sector, the […]
A number of financing agreements, totalling over US$250mn, have been raised in support of the African Export-Import Bank (Afreximbank) in recent weeks. The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, has provided a US$100mn and a €50mn facility, both of which will be used to support trade transactions […]
LONDON: Bahrain has topped the regional rankings of a key Islamic finance league table. It also came second globally in the in the fifth edition of the Islamic Finance Development Report and Indicator. The report was prepared by Thomson Reuters and the Islamic Corporation for the Development of the Private Sector (ICD) — the private sector […]
The Saudi Gazette Islamic finance assets growing 7% to $ 2.2trnn in 2016, and projected to reach $3.8trn by 2022 MANAMA — With Islamic finance assets growing 7% to $ 2.2 trillion in 2016, and projected to reach $3.8 trillion by 2022, the Islamic Finance Development Report and Indicator (IFDI) 2017 sees Islamic finance play a […]
BRUNEI Darussalam reached yet another milestone with the country attaining a spot among the top 10 performing Islamic finance markets in the ICD-Thomson Reuters Islamic Finance Development Report 2017, published recently. With a score of 47 in the Islamic Finance Development Indicator (IFDI), Brunei rose to ninth position this year from last year’s 14th position […]
The Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation on Wednesday from the United Kingdom, led by Alderman Charles Bowman, the new Lord Mayor of the City of London, as part of a wider visit to the region. Arif Amiri, CEO of DIFC Authority, Charles Bowman and […]
Islamic finance attracts non-Muslim countries Islamic finance is extremely popular in Muslim-majority countries in the Middle East and South Asia. However, non-Muslim countries are now seeing the attraction in investing in it. According to Dealogic data, issuance of Islamic debt by non-Muslim countries is set to climb a three-year high in 2017 due to the […]
By MOHAMMAD MAHBUBI ALI ISLAMIC finance has witnessed, over the last few years, a remarkable growth at 15 to 20 per cent Compounded Annual Growth Rate (CAGR), emerging as one of the fastest growing financial sectors in the world. The total assets of the Islamic financial industry in 2015 was around US$2 trillion (RM8.3 trillion) and […]
By | Lyna Mohamad | BRUNEI Darussalam, though a new participant in the world of Islamic finance, has become the second largest country in Asia in terms of total Islamic finance assets, after Iran. This was stated by Professor Dr Abdul Ghafar bin Ismail from the Faculty of Islamic Economics and Finance, Universiti Islam Sultan […]
