The future exit of the United Kingdom from the European Union is to be one of the most profound political, economic and legal events in the country’s recent history. For those who seek to engage with Islamic Finance and attract Islamic compliant investment to the UK, there are opportunities in the upheaval. What’s changed and […]
Zak Hydari, the chief executive of Rasmala. Reem Mohammed/ The National Islamic banks and asset managers based in London have played down the impact of the UK vote to leave the European Union, amid wider fears the move could spell an exodus from the world’s financial capital. The Brexit result has caused turmoil in the […]
Sultan Ahmed Bin Sulayem rings the market-opening bell to celebrate the listing on Nasdaq Dubai Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World, rang the market- opening bell today to celebrate the listing on Nasdaq Dubai of a US$ 1.2 billion Sukuk – the Islamic equivalent of bonds. The listing […]
The small European nation of Luxembourg, known as a financial centre within the eurozone with a particular expertise in fund management and investment structures, is expected to threaten and possibly take over London’s role as European hub for Islamic finance in a post-Brexit world, experts say. London and Luxembourg before where more complementary than competitive […]
Manama, June (BNA): Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will host the AAOIFI – World Bank 11th Annual Conference on Islamic Banking and Finance on 6-7 November in Kingdom of Bahrain. The conference is organized in partnership with the World Bank, and will be held under the auspices of the Central Bank […]
As the referendum on whether to leave or remain in the European Union (EU) looms in the UK, voices are getting louder, particularly in the country’s financial industry that it would not necessarily be a good idea to vote for a Brexit. Since the weight of the UK in the global financial market is substantial […]
Three state-linked Russian banks aim to introduce a number of Islamic financial products this year that could increase pressure for Russian authorities to create a legal framework facilitating the industry. Russian banks’ balance sheets have been strained by an economic crisis and Western-imposed sanctions, encouraging efforts to develop sharia-compliant finance to attract investors from the […]
By Jaafar Abdulkadir As Islamic banking gradually continues to make strides into the mainstream financial services sector in Kenya, players are increasingly redefining their relationship with customers. Just how does Islamic banking operate? How do the financiers cushion themselves from customer defaults and associated risks? Islamic banking operates on the basis of contracts that are […]
The world of Islamic finance and investing represents an exciting world of opportunities for Muslims all over the world, and one we think should likely continue to grow. I recently had the pleasure of attending the Global International Islamic Finance Forum (GIFF) in Malaysia and had the opportunity to share our team’s views as well […]
Algeria is preparing to launch Islamic financial services as the OPEC member seeks new ways to raise money after a sharp fall in energy earnings, a senior financial official told Reuters in an interview. Boualem Djebbar, head of the state-run Banks and Financial Institutions Association, said plans to offer Islamic finance products were part of […]
Chinese President Xi Jinping walks downstairs upon his arrival a day before the G20 Summit in St. Petersburg Reuters/RIA Novosti In 2013, Chinese President Xi Jinping unveiled the Silk Road Economic Belt and the 21st-century Maritime Silk Road initiative now known as One Belt One Road, (OBOR) in order to actively develop connectivity and economic […]
Image Credit: Luis Vazquez/©Gulf News Roughly one-third of those suffering from extreme poverty worldwide live in member states of the Organisation of Islamic Cooperation (OIC). In 21 of those 57 countries, fewer than half of the population has access to adequate sanitation. Four per cent of infants born in these countries die before they reach […]
