Christians and Muslims join forces to promote ethical finance

Christians and Muslims have united to launch a new ethical financial services initiative to tackle inequality and poverty. The Church of Scotland and the Islamic Finance Council UK (IFC) announced the venture on Tuesday. It will be the first time Christian and Muslim financial initiatives have joined forces. Andrew O’Brien Angus Morrison (right), the Moderator […]

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Maisarah Islamic Banking Services Supports Islamic Finance Seminar

Muscat – Reiterating its commitment to contribute to the rapid development of the Islamic financial market in the Sultanate, Maisarah Islamic Banking Services of Bank Dhofar supported the inaugural IFN Oman Dialogue and Seminar that was hosted recently by REDmoney and Islamic Finance News. Conducted at the Grand Hyatt Hotel in Muscat, the one-day double […]

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Indonesia hopes new hedging rules will attract sharia-compliant investors

JAKARTA, March (Reuters) – Indonesia’s central bank, in a bid to expand the country’s Islamic finance industry, has issued a regulation that allows the use of Islamic foreign exchange hedging tools by banks. The regulation, backed by rulings by Indonesia’s National Sharia Board, specified that both Islamic and conventional banks can now offer deferred sale […]

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Fintech in Islamic Finance as Malaysia Launches Investment Account Platform

Investment Account Platform (IAP) envisaged as Cross Border Multi Currency Channel Malaysia continues to lead in the innovation of Islamic financial products with the recent launch of an Investment Account Platform (IAP) which is envisaged to become a cross border multi-currency channel linking into regional and global economies. The Islamic finance market is currently characterised […]

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The curious case of Islamic wealth

The curious case of Islamic wealth LONDON: Islamic banking and finance (IBF) is swiftly growing in countries outside the Organisation of Islamic Cooperation (OIC) block, especially in the United Kingdom that houses six fully-fledged Islamic banks (one retail and five wholesale), making it the most important centre of Islamic finance outside the Muslim world. The […]

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East Africa new frontier for Islamic Finance

NAIROBI, Kenya – East Africa could be the new frontier for Islamic finance following the launch of the first East Africa Islamic finance summit in Nairobi. Financial experts drawn from the region noted that East Africa features a potentially strong demand for Islamic services and that its growing reach promises a number of benefits. The […]

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Role of Islamic Finance in Bridging the Funding Gaps of SMEs and MSMEs

Photo Credit: Johnny Lai Socio-economic justice which is one of the main features present in the Islamic financial system is critical in achieving financial inclusion. Financial inclusion helps to address slow investment growth, weak productivity and income inequality, exemplified by the present-day modest economic growth. The contribution of Islamic finance towards socio-economic  justice among others […]

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