Islamic finance key to funding green energy projects

As Middle East investment in renewables increases, adoption of green sukuk as one of the alternatives to traditional financing techniques will rise, says Deloitte Islamic finance can play a significant role in financing solar and other alternative energy projects in the Middle East as countries put an emphasis on green energy to meet increasing demand, […]

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In Muslim-Majority Kazakhstan, Islamic Banking Could Have Potential

Bello Danbatta, the Secretary General of the Islamic Financial Services Board (IFSB) sees Kazakhstan, the Caspian region’s third-largest economy, as a potential hub for Islamic banking in and around Central Asia. “We see here a huge potential for the development of Islamic finance,” Danbatta said Wednesday, according to reports by Kazinform. “With the population of 18 […]

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Almost half of British Muslim consumers have never used Islamic finance, providing ‘huge opportunity’ for industry – study

Forty-six per cent of British Muslims have never used Islamic finance, says a survey by the Shariah-compliant Gatehouse Bank. This marks “a wake-up call to the UK Islamic banking industry”, Gatehouse said in a statement on Wednesday. “Our report highlights that providers of Shariah-compliant finance are missing out because of a largely untapped market for […]

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Islamic Bank mission in Guyana to finalize energy projects

By Ray Chickrie Caribbean News Now contributor GEORGETOWN, Guyana – A team of six officials from the Islamic Development Bank led by Noureddine Mabrouk arrived in Guyana last Wednesday to scope renewable energy projects for off-grid area in partnership with the Guyana Energy Agency (GEA). The Islamic Bank team includes Noreddine Citroen, project management specialist; […]

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Almost half of Muslims have never used Islamic finance

Written by: Emma Lunn Nearly half (46 per cent) of Muslim consumers have never used Shariah-compliant financial products, according to Gatehouse Bank. The bank said the figure – which rises to 53 per cent among Muslim women – underlines the challenge faced by Shariah-compliant finance providers. Gatehouse’s Islamic Finance Consumer Report also found that seven […]

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Why we need to embrace Islamic finance

By: Maharlika Alonto, Maria Theresa Abogado Big leaps have been made recently in terms of realizing financial inclusion and socioeconomic development. Last month, the Senate approved on third reading a bill authorizing the expansion of the Islamic banking system in the Philippines, which shall be under the supervision of the Bangko Sentral ng Pilipinas and regulated by […]

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Incubating Islamic finance dreams

For the longest time, Bank Negara Malaysia (BNM) have been conducting their experiments on Islamic Banking institution to build a viable business model that can be the example to the world. Islamic Banks are naturally seen as the prudent, stable and right platform to design, build and test new structures and conditions. That exploratory mode […]

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How Islamic finance can build resilience to climate change

In arid and semi-arid lands (ASALs), extreme weather manifestations such as droughts caused by prolonged dry spells, among other climate stressors, put ASALs at risk and intensify conflicts. Worsening climate change impacts such as extreme rainfall fluctuations and temperatures are having a negative impact on agricultural food production, livestock value chains and livelihoods. To tackle Sustainable Development […]

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Moody’s: Digitisation and regulatory support drive growth of Islamic finance in Malaysia, Indonesia

SINGAPORE, July 1 — Digitisation, along with continued government commitment to develop Islamic banking, will support the growth of the sector in both Malaysia and Indonesia, according to Moody’s Investors Service. “Backed by strong profitability, Islamic banks in both Malaysia and Indonesia are stepping up their investments in digitisation, which should help the industry expand […]

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