Turkey’s share in global Islamic insurance takes jump

Turkey’s share in $28 billion global Islamic insurance sector grows from 1.5% to 5% in six years. ISTANBUL Turkey’s share in global Islamic insurance (takaful) sector has jumped form a mere 1.5% in 2014 to 5% in 2019, according to a report released by the Committee for Economic and Commercial Cooperation of the Organization of […]

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Bahrain tops Mena in Islamic finance indicator

Bahrain, which has led Mena in all seven IFDIs to date, also ranked in second place globally this year. By Staff Writer, TradeArabia Bahrain has topped the entire Mena region for Islamic finance development, according to the seventh and latest annual Islamic Finance Development Indicator (IFDI). The kingdom, which has led Mena in all seven IFDIs […]

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Philippines Central Bank Issues Islamic Finance Rules

Bangko Sentral ng Pilipinas aims to issue new implementation rules regarding Islamic finance before the end of the year and potentially allow banks to establish separate subsidiaries for the new business line. «The BSP is pushing for an open approach where conventional banks can operate Islamic banking windows or establish subsidiary Islamic banks,» BSP deputy […]

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Fintech can boost Islamic finance

Fintech can enable Islamic finance players to attract more customers, increase efficiency and reduce costs By SULHI KHALID FINANCIAL technology (fintech) has the ability to help the Islamic finance sector become more competitive without compromising on profitability, said Deputy Finance Minister Datuk Amiruddin Hamzah (picture). Fintech would enable Islamic finance players to attract more customers, increase […]

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Better governance with new Islamic finance framework

SYARIAH is the backbone of Islamic financial institutions (IFIs).Ensuring syariah compliance is essential for maintaining the confidence of stakeholders and the public at large. Inadequate attention to the whole process of syariah compliance inevitably triggers negative repercussions for IFIs, such as financial loss and massive withdrawals. Over the last two decades, many cases have been […]

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NSE to promote growth of Islamic finance

By Chris Ugwu In line with its desire to increase financial inclusion and unlock the capital market for economic growth and development, the Nigerian Stock Exchange (NSE) has intensified its intention to promote development of Islamic finance. President, National Council of NSE, Abimbola Ogun banjo, who stated this at the exchange’s  58theAnnual General Meeting (AGM) in Lagos, said […]

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Islamic finance 101: Debunking the common myths

By: Katherine Denham Islamic finance is one of the fastest-growing sectors in the world, targeting a vast portion of the global population that has been largely underserved by the financial services industry. It’s thought that the Islamic finance industry will reach $3.8 trillion in assets globally by 2022, from $2.2 trillion in 2016. Traditionally, Islamic […]

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