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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WIBC announces leaderboard to foster global Islamic banking

Top performing regional Islamic Financial Institutions are vying for the WIBC Awards recognising the Best Performing Banks at the Global and Regional level. A testament to its vision of advancing the global Islamic banking industry, the 25th World Islamic Banking Conference (WIBC) will continue in its endeavor of enhancing the performance and quality of key Islamic […]

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Islamic banking on the rise

The popularity of Islamic banking products continues to grow in the UAE among both Muslim and non-Muslim customers, according to the findings of the 2018 Islamic Banking Index by Emirates Islamic. The index is a benchmark survey revealing the progress, penetration and perception of the Shari’ah-compliant banking sector in the UAE, as well as the future intentions of […]

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GIES: Blockchain Technology Seen To Boost Global Islamic Finance Sector

The adoption of block chain, artificial intelligence, cryptocurrencies and other advanced technologies are expected to have a positive impact on the global Islamic finance sector and create new benefits and opportunities for banks and consumers alike, according to industry experts speaking at the Global Islamic Economy Summit 2018 (GIES) in Dubai. DUBAI, (UrduPoint / Pakistan […]

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Islamic Banking Growing in Africa as Muslim Population Expands

JOHANNESBURG —  When 24-year-old Farhaan Mottiar took over his father’s bridal shop in Johannesburg’s oldest Indian mall, he decided to join a growing movement in Africa: away from traditional banking, and into newly available Islamic banking systems. “It’s the right way forward,” he told VOA in his shop, as he ran his fingers over a […]

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IFSB, AAOIFI partner to strengthen Islamic finance industry

The duo will collaborate in promoting the implementation of prudential, Shari’ah, accounting and governance standards to facilitate the development of the Islamic financial services industry. The Islamic Financial Services Board (IFSB) has signed a MoU with the Accounting and Auditing organisation for Islamic Financial Institutions (AAOIFI) to jointly undertake technical activities relating to development and revision of […]

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