New York, September 20 — Successful implementation of the 2030 Agenda requires a significant amount of financial resources, beyond traditional development financing. Innovative approaches are required to unlock new sources of capital. The public and private stakeholders, and investors gathered in New York for the high level side event- ‘Realizing Agenda 2030: How Islamic Finance through […]
Senior policy makers from around the world have met in London to discuss cross-border cooperation to boost the global Islamic finance industry. The annual meeting of the Global Islamic Finance and Investment Group (GIFIG) forms a key part of the UK’s commitment to support the development of the industry globally and ensure that London remains […]
The Islamic finance industry will expand this year but lower oil prices and a slower economic growth could force the shariah-compliant financial sector, a key area marked for growth by financial hubs in the Middle East and Asia, to lose momentum, S&P Global Ratings has said. The industry’s assets reached $2 trillion at the end […]
Inclusive and sustainable development looks beyond growth in gross domestic product and can strengthen nations for generations. However, rising income inequality has impeded social mobility, increased social tensions, and undermined effective governance in many countries. We are firmly committed to our twin goals of helping to reduce the number of people living in extreme poverty, […]
Lucy Burton, financial services editor The City’s top lobby group is urging the Government to make sure any laws introduced post-Brexit do not dent demand for Islamic finance as enquiries from banks to set up Shariah-compliant services soar. TheCityUK, which represents Britain’s banks and financial institutions, has sent a 32-page report to the UK Government highlighting that assets of UK firms offering Islamic […]
ALGIERS (Reuters) – Algeria’s new government will introduce Islamic finance and develop its stock market to draw more investment into the economy as it struggles to cope with a sharp fall in energy earnings, according to an official document. The measures are part of wider reforms by Prime Minister Ahmed Ouyahia’s government, which also said […]
Delegates listen at the Islamic Finance and Trade conference in Westminster, London (file). The UK has the highest number of Islamic finance education providers with about 70 institutions, including universities, schools and other education providers offering Islamic finance courses and degrees. By Arno Maierbrugger/Gulf Times Correspondent /Bangkok The growing popularity of Islamic banking and finance […]
Islamic finance is a centuries-old practice designed to enable Muslims to invest and transact business while remaining in accord with their religious beliefs. The Muslim world has long raised capital in accordance with Sharia principles. These principles reflect the requirements of the Islamic faith. For example, Sharia principles forbid the receipt of income derived from […]
By Chijioke Ohuocha LAGOS, Aug (Reuters) – Nigeria’s central bank said on Thursday it is setting up two financial instruments to provide liquidity support to its non-interest paying lenders. It is a push by Nigeria, home to the largest Muslim population in sub-Saharan Africa, to establish itself as the African hub for Islamic finance, which follows […]
Global economic volatilities, consistently low oil prices and reduced demand for credit are among the factors that currently weigh on the Islamic financial service industry, the recently released IFSB Industry Stability 2017 Report by Kuala Lumpur-based Islamic Financial Services Board (IFSB) suggests. The study says that 2016 marked another year of slower growth amid adverse […]
