Indonesia’s Islamic finance rank has improved exponentially this year, but challenges remain to further develop the sharia economy. Based on the 2019 Islamic Finance Development Indicator (IFDI) launched on Tuesday by the Islamic Corporation for the Development of the Private Sector (ICD) and financial market data provider Refinitiv, Indonesia’s ranking jumped six steps to fourth […]
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 […]
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 […]
TEHRAN (IQNA) – Action needs to be taken to make Islamic finance part of the halal ecosystem, said Malaysian Deputy Prime Minister Wan Azizah Wan Ismail. Citing a study conducted by Halal Focus in 2011, she said it was reported that there seemed to be a disconnection between the halal industry and Islamic finance, in […]
So much depends on our oceans but the threats facing them are growing. Given that oceans cover about two thirds of the earth’s surface, having clean, sustainable and healthy oceans as outlined in United Nations sustainable development goal 14 — conserve and sustainably use the oceans, seas and marine resources for sustainable development — should […]
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 […]
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 […]
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 […]
KUALA LUMPUR, Oct ― The establishment of the Special Committee on Islamic Finance (JKKI) will definitely provide further impetus to further promote and develop the Islamic finance (IF) ecosystem and strengthen Malaysia’s leadership as a centre of excellence in IF, said the Malaysian Institute of Accountants (MIA). One of the objectives of JKKI, which was […]
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 […]
