Indonesia’s KNKS to be renamed National Sharia Economy and Finance Committee to be headed by VP Ma’ruf Amin

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 […]

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the DFSA signs guiding principles on sustainable finance together with leading authorities in the UAE

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 […]

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Islamic fintechs are on the rise — but how viable is this tailored offering?

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 […]

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Global Islamic finance growth slows to 3% in 2018

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 […]

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BSP issues rules for Islamic banks

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 […]

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Islamic banks ready to support SMEs

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 […]

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Egypt to issue first corporate sukuk within weeks

Egypt will issue its first corporate sukuk, or Islamic bonds, within weeks, a Financial Regulatory Authority (FRA) official said on Tuesday. CIAF Leasing, an aircraft leasing company, will issue sukuk worth $50 million, the first in Egypt to do so, Sayed Abdel Fadil, an FRA departmental head, told Reuters. A second company, a contractor, will […]

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CIMB Islamic offers RM100m SME financing to be halal-ready

Wong Swee May – The Edge Financial Daily KUALA LUMPUR: CIMB Islamic Bank Bhd has unveiled its latest proposition in supporting small and medium enterprises (SMEs) to grow their businesses in the global halal market. Through CIMB HalalBizReady, the proposition provides financing packages that help businesses become compatible with the requirements of halal certification by […]

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