By MICHAEL LLOYD, An Islamic peer-to-peer lending platform has launched in the UK, providing Shariah-compliant finance to small- and medium-sized enterprises (SMEs). Salaam Gateway reported that Qardus, which is an appointed representative of Financial Conduct Authority-regulated ShareIn, provides unsecured loans of up to £100,000 in the form of a commodity murabahah, an Islamic financing structure in which […]
LONDON (Reuters) – Britain’s Debt Management Office said on Monday it was inviting banks to join a syndicate for the country’s second sale of sovereign sukuk or Islamic bond. Britain became the first Western country to issue an Islamic bond in 2014, raising 200 million pounds ($260 million)from a five-year deal that was 10 times […]
BY YOSI WINOSA – SALAAM GATEWAY JAKARTA – Indonesia’s National Islamic Finance Committee (KNKS) is set to be renamed the National Sharia Economy and Finance Committee (KNEKS) to better reflect its mandated work, Dr. Sutan Emir Hidayat, its Director of Education and Research told Salaam Gateway on Monday (Jan 20). The revision draft of Presidential Regulation […]
The Guiding Principles were officially signed in a ceremony today at the Abu Dhabi Sustainable Finance Forum (ADSFF) during Abu Dhabi Sustainability Week. Press Release Dubai, UAE: The DFSA, together with a group of leading authorities in the UAE, has published the UAE’s first Guiding Principles on Sustainable Finance (the Guiding Principles), which will serve as […]
ABUJA, Jan (Reuters) – Nigeria plans to issue sukuk bonds worth 150 billion naira ($490 mln) on the local market this year, the Debt Management Office said on Friday. The debt office said the funds would be used for road projects. ($1 = 306.40 naira) (Reporting by Camillus Eboh and Chijioke Ohuocha; Editing by Alison […]
Islamic finance is ‘going digital’ to better serve the world’s 1.8bn Muslims. Still, it’s uncertain if religious fintechs can attract a critical mass, and compete with their European secular peers. By Isabel Woodford Fintech is a crowded space. But a new subgenre is emerging to attract the world’s 1.8bn Muslims with a Shariah-compliant alternative. Young Muslims want […]
Despite the slower growth, total assets across the industry grew to RM10.3t in 2018 from RM10t previously by HARIZAH KAMEL / ISLAMIC finance industry growth slumped to 3% in 2018 from the previous year’s 7%, marking the second-slowest expansion after 2014 since the Islamic Finance Development Indicator (IFDI) report was introduced in 2012. The slowdown […]
By Arno Maierbrugger/ Gulf Times Correspondent/ Bangkok With the approval of a new Islamic banking law in the Philippines by the country’s central bank last December, doors are now open for both domestic and foreign banks to open a Islamic banking window or to establish a subsidiary Islamic bank in the country with millions of […]
By LEE C. CHIPONGIAN The Bangko Sentral ng Pilipinas (BSP) has released the guidelines for the country’s Islamic banks and Islamic banking units (IBUs) and approved the Shari’ah Governance Framework (SGF) to ensure compliance to the banking requirements. BSP Deputy Governor Chuchi G. Fonacier signed the two circulars for the establishment of Islamic banks and […]
By HARIZAH KAMEL SMALL and medium enterprises (SMEs) are not fully utilising various solutions provided by Islamic banks due to a lack of awareness but it is a problem that can be addressed. The Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) acting ED Ratna Sha’erah Kamaludin said local SMEs are not fully utilising […]
