By Monira Matin Malaysia’s Islamic insurers are considering a move into Europe by targeting the continent’s growing Muslim population, an expert in Islamic finance has said. Sharia-compliant products including pension funds and insurance products are based on religious guidelines such as bans on alcohol and gambling, similar to socially responsible funds in western countries. Speaking […]
JAKARTA • The Indonesian government has launched a national master plan to develop its Islamic finance industry, the latest effort aimed at awakening what is still a niche sector in the world’s most populous Muslim country. Islamic finance was introduced in South-east Asia’s largest economy more than two decades ago but it has managed only […]
By Bernardo Vizcaino Aug 19 (Reuters) – The Indonesian government has launched a national master plan to develop its Islamic finance industry, the latest effort aimed at awakening what is still a niche sector in the world’s most populous Muslim country. Islamic finance was introduced in Southeast Asia’s largest economy more than two decades ago […]
SIMON ROUGHNEEN, Asia regional correspondent Indonesian President Joko Widodo awaits heads of government at the World Islamic Economic Forum in Jakarta on Aug. 2. (Photo by Simon Roughneen) JAKARTA — Measures to boost Indonesia’s relatively small Islamic finance sector could help the government implement an ambitious infrastructure modernization program across the 13,000-island archipelago, according to […]
Malaysia’s $25 bln pension offshoot set to boost Islamic finance By Liz Lee and Bernardo Vizcaino KUALA LUMPUR, Aug 12 (Reuters) – Malaysia’s Islamic finance market is set for a much-needed boost when the country’s largest pension fund launches a 100 billion ringgit ($24.9 billion) Islamic fund in January, offering a potential boon for asset […]
With the many challenges Russia’s economy is currently facing, now is the time to shore up relationships with regions in which Russia has had continued success. With that in mind, Russia has set off on a path towards greater participation in Islamic finance and the broader Islamic economy. Three major banks—Vnesheconombank, Sberbank and Tatfondbank—all signed […]
Islamic finance assets grew by 10 percent to reach $2 trillion in 2015, according to a new report by Thomson Reuters. Islamic banking represented 73 percent of these asset, followed by sukuk which represented 17 percent, said the initial findings of ICD Thomson Reuters Islamic Finance Development Indicator (IFDI 2016). The increase in assets was […]
A clock is seen inside the lobby of the headquarters of Fitch Ratings headquarters in New York, February 6, 2013. REUTERS/Brendan McDermid (UNITED STATES – Tags: BUSINESS) Reuters/Brendan McDermid JEDDAH: Sukuk issuance from key markets in H1, 2016 rose 11 percent compared to a year earlier, according to Fitch Ratings’ analysis, underlining our expectation for […]
Following its recent Sukuk default, the IMDB corruption scandals continues to cast a dark shadow over the Malaysian financial sector with this week the United States moving to seize more than $1bn in assets, ranging from plush properties to a private jet, from people connected to Prime Minister Najib Razak. Against this backdrop, Islamic finance […]
Islamic finance ‘could benefit Italy after Brexit’ (by Elisa Pinna) ROME – Investors from the Islamic financial world could be the answer to Italy’s woes in the wake of the Brexit, according to participants in a recent conference organized by Nctm finance law firm. The conference was attended by Foreign Undersecretary Vincenzo Amendola, Lower House […]
A BCA Syariah staff member serves a customer after an opening ceremony at its headquarters on Jl. Jatinegara Timur in East Jakarta on April 5, 2010. (The Jakarta Post/P.J. Leo) The performance of the Islamic banking industry in Indonesia has yet to satisfy the public’s expectations. Although with a market of more than 200 million […]
Oman currency; money; bank note; investments; lstock Recent regulations on sukuk (Islamic bonds) are helping drive growth in Oman’s Islamic banking sector, with sharia-compliant lenders gaining ground. 26 June 2016 Recent regulations on sukuk (Islamic bonds) are helping drive growth in Oman’s Islamic banking sector, with sharia-compliant lenders gaining ground. Growth of Islamic banking is […]
