The Opportunities In Islamic Finance: An Old Trade, A New World

One interesting feature about finance is that the financial spectrum is remarkably broad. Indeed, there is a multitude of fields that one could specialise in. Islamic finance is indubitably one of them. Although its recent rise, Islamic finance has been implementing Sharia (Islamic law) to finance for centuries. In the Muslim world, finance differs from the […]

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New Islamic finance guidance on gold emphasises real deal

* To encourage new Islamic finance products using gold * Sukuk, ETFs, trading accounts in development * Guidance also applies to silver-based contracts * Same-day settlement reduces risk, may be less convenient * AAOIFI plans workshops for wholesale gold market By Bernardo Vizcaino Islamic finance experts have developed new rules for gold transactions, they said […]

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Sukuk maintains positive outlook; undeterred by continued slowdown

Thomson Reuters has released the findings of its fifth consecutive Sukuk Perceptions and  Forecast study. Despite a bleak 2015, market players remained hopeful for robust year ahead  with expectations of oil-exporting countries in core markets to turn to Sukuk as a primary debt  management tool. Core markets have adapted to ongoing low oil prices, while […]

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Fast growth of Islamic Finance industry calls for robust Shariah governance

Standard & Poor’s believes that in view of the fast growth of the Islamic finance industry robust Sharia governance structures is very important. Generally, internal Sharia auditors have the task of checking whether an Islamic bank’s activity was performed according to the rules set by the institution’s Sharia board. While this model has provided an […]

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Government incentives boost Pakistan’s Islamic banks

* Pakistan adopted tax rebate for sharia-compliant manufacturers * Banker sees signs of higher demand for Islamic financing By Bernardo Vizcaino Nov 23 Pakistan’s Islamic banks are introducing new products and adjusting policies to take advantage of government incentives designed to boost growth in the industry. Sharia-compliant banks in the country, the world’s second most […]

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Governance structures of Islamic finance needs fine tuning

Islamic financial institutions’ business activities must comply with Islamic law (Sharia). Rating agency Standard & Poor’s believe that in view of the fast growth of the Islamic finance industry robust Sharia governance structures is very important. While the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB) have […]

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Africa ripe for Islamic finance

Africa’s development needs are greatly aligned with Islamic finance given the continent’s infrastructure deficit, paving the way for more sharia-compliant products on the continent, according to Imran Mufti, partner at Riyadh-based law firm Hogan Lovells. “Being attached to tangible infrastructure and development projects and assets which are much needed in Africa is in line with […]

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