The Nigeria Deposit Insurance Corporation (NDIC) has been admitted as a full member of the Council of Islamic Financial Services Board (IFSB).A statement by the Head of Communications and Public Affairs of the NDIC, Mr. Mohammed Ibrahim, on Tuesday in Abuja noted that the NDIC joins the Central Bank of Nigeria (CBN) as the other […]
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 […]
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 […]
[DUBAI] The Islamic finance industry grew 11 per cent year-on-year in 2017 and is set to sustain double-digit growth buoyed by capital market products and the adoption of financial technology, according to a Thomson Reuters study released on Tuesday. The industry is now represented in 56 countries by 1,389 sharia-compliant financial firms, worth a combined […]
The initiative is the result of the collaboration of Al Hilal Bank Digital Transformation team with Jibrel Network, a UAE-based fintech Al Hilal Bank is the first Islamic bank in the world to leverage Blockchain technology for the resale and settlement of an Islamic Sukuk. Blockchain was used to transact a secondary market deal in […]
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 […]
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 […]
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 […]
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 […]
IsDB lists first euro sukuk, has nine dollar sukuk listings on Nasdaq Dubai valued at a total of $11.8bn Nasdaq Dubai has welcomed the listing of a 650 million euro ($737 million) sukuk by Islamic Development Bank (IsDB). It is the first euro listing by IsDB, which also has nine dollar sukuk listings on Nasdaq […]
