Saudi Arabia’s ICD to introduce blockchain-based Islamic banking solutions

Islamic Corporation for the Development of the Private Sector’s agreement with Tunisia-based I-FinTech Solutions will focus on developing products designed to solve liquidity issues The Saudi-based Islamic Corporation for the Development of the Private Sector (ICD) has penned an agreement with a Tunis-based fintech company to develop blockchain solutions for Islamic banks, it has been […]

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IFAAS and Mercy Corps join hands to promote financial inclusion in Ethiopia

Ethiopia is one of the top-five recipients of UK-aid, according to DFID’s own sources. Press Release International consultancy IFAAS (Islamic Finance Advisory & Assurance Services – www.ifaas.com ) and Mercy Corps (MC), a global non-governmental, humanitarian aid organisation, are working together to unlock the potential of Islamic finance (hereon also referred to as ‘interest-free finance’) to address the […]

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Lawmaker hopeful Senate will pass bill on Islamic banks

By Charissa Luci-Atienza  The chairman of the House Committee on Banks and Financial Intermediaries is hoping for the smooth passage in the Senate of the bill providing for the regulation and organization of Islamic banks to attract better investments for the country. Leyte Rep.  Henry Ong said he is counting on the Upper Chamber to […]

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Islamic banking grows in popularity in the UAE – survey

2018 Islamic Banking Index says Islamic banks are outperforming their conventional peers in customer acquisition in the UAE The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to new research. The findings of the 2018 Islamic Banking Index by Emirates Islamic said that Islamic banks […]

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Algeria makes important step on Islamic finance roadmap

Al Baraka Banking Group won the “Best Islamic Financial Institution” award for its consistent business growth, meeting professional standards, offering quality products and services that are also innovative, and for geographic reach, profitability and robustness of financial position. Recent news that Bahrain-based Al Baraka Banking Group, which has banking branches across North Africa, received the […]

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Gov’t looks to float sukuk bonds under Islamic finance framework

By Elijah Joseph C. Tubayan, Reporter THE GOVERNMENT is looking at floating Shari’ah-compliant securities next year, but will still wait for the establishment of a legal framework for Islamic banking, the Department of Budget and Management (DBM) said yesterday. Budget Secretary Benjamin E. Diokno said the development of Islamic finance in the country is part of the […]

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