Islamic Finance Gaining Momentum in Developing Economies

Source: Bangkok Finance

Islamic finance is gaining momentum in developing economies around the world due to its asset-based structure, which makes it easier for cash-strapped nations to gain access to capital, as well as owing to its well-regarded ethical approach. The latest region seen as having big potential for Islamic finance is the Commonwealth...

Global Islamic Finance Forum from May

Source: Malaysia Insights

The Global Islamic Finance Forum (GIFF) again will be held at the capital city of Malaysia, Kuala Lumpur in May this year. With the theme, “Dream Big, Grow Beyond”, the three-day forum from Tuesday, 10th May to Thursday, 12th May, offers unique business and networking opportunities for industry practitioners, business leaders...

World Finance Announces Islamic Finance Award Winners

Source: London Observer

As conventional banking continues to disappoint, Islamic finance has carried on growing to the point where investors predict it could be worth $1.6trn by the end of the decade. The World Finance Islamic Finance Awards 2016 celebrate the companies and individuals that are paving the way for Islamic banking services, spurring economic growth and promoting financial inclusion...

Islamic Finance Footprint Across Asian Markets

Source: CPI Financial

At the end of 2013, Islamic banking and Islamic bonds or Sukuk in Asia had made up 49 per cent and 45 per cent, respectively, of global Islamic financial assets. Malaysia is one of the leaders with a 10 per cent global share of Islamic banking assets at the end of 2013, with established markets in Bangladesh, Brunei Darussalam, Indonesia and Pakistan and growing...

Islamic banking can drive Australia's financial sector

Source: Sydney Times

Imagine a global industry in these volatile and bruising times where it is considered a disappointment that growth might drop to single digits this year for the first time in more than a decade. That industry is Islamic finance, a system based on a set of Islamic principles that includes sharing risk in financial transactions. Standard & Poor’s estimates...

Church of Scotland and Islamic Finance

Source: Common Space

Rt. Rev Dr Angus Morrison, Moderator of the General Assembly of the Church of Scotland said: “Our current system has gone badly wrong, creating massive inequality and the destruction of our shared natural resources by money-making machines overtaking commerce that serves the common good “The Christian and Islamic faith traditions share...

Global Islamic finance industry assets

Source: Pak Observer

The director-general of Securities and Exchange Commission (SEC), MounirGwarzo has said the total assets under management in the global Islamic finance industry had surpassed N394 trilliion ($2 trillion) by 2014. Gwarzo disclosed this at the second Regional Roundtable on Non-Interest Capital Market in Sokoto, yesterday, saying, also the global Sukukmarket...

Saudi's IDB Group pitches for Islamic finance in India

Source: Times of India

Highlighting the advantage of Islamic finance — an interest-free method of providing capital — Al-Aboodi said that there was no excess leveraging in such assets and banks would always have some security. According to Al-Aboodi, in terms of distress Islamic finance worked well as the financier operated as a partner with the ...

Kuala Lumpur to host Global Islamic Finance Forum

Source: CPI Financial

The forum, in its fifth iteration, is organised by the Association of Islamic Banking Institutions Malaysia (AIBIM). GIFF 5.0 is supported by the Central Bank of Malaysia and Securities Commission Malaysia, with World Bank as strategic partner, and Bloomberg as media partner. GIFF 5.0 aims to focus on the potential...

MIBS supports Islamic finance seminar

Source: Muscat News

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...

Scottish "Kirk" joins Islamic faith on cash and morals

Source: Financial Times

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Backers say it is too early to say what “solution” the initiative could yield, but possibilities include the creation of a new financial institution...

Thomson Reuters, IRTI, CIBAFI and CIMB Islamic finance

Source: CPI Financial

Thomson Reuters, the Islamic Research and Training Institute (IRTI), an affiliate of the Islamic Development Bank Group, and the General Council for Islamic Banks and Financial Institutions (CIBAFI), have launched a new Indonesia Islamic finance report titled “Prospects For Exponential Growth” at a ceremony in Jakarta. The study was prepared in strategic...

Islamic finance industry assets over $2 trillion

Source: Premium Time

Total assets under management in the global Islamic finance industry was in excess of $2 trillion (about N394 trillion) by the end of 2014, the director-general, Securities and Exchange Commission, SEC, Mounir Gwarzo, has disclosed. Mr. Gwarzo said the industry growth had continued to flourish with the global Sukuk market recording remarkable expansion...

Indonesia Islamic finance miniscule

Source: Asian Review

Boosted by government infrastructure spending and road maps for development of shariah finance, Indonesia's Islamic finance sector is expected to record double growth over the next five years, outperforming the nation's overall financial industry. A report launched by Thomson Reuters on Friday -- called "Indonesia Islamic Finance: Prospects...

Islamic Finance Solution Against Fragility

Source: All Africa

An IDB spokesman Dr. Muhammad Jameel Yusha'u in a statement stated that the experts said this yesterday during a high level meeting at the headquarters of IDB in Jeddah, Saudi Arabia, under the umbrella of IDB President's Advisory Panel (PAP) themed "Digital Development for Resilience."...

DIFC participates in UAE Luxembourg meeting on Islamic finance

Source: CPI

FinTech has grown exponentially since 2011. In 2015, the FinTech industry saw a $16.5 billion of funding with a 22.2 per cent year on year funding growth. Some 26 per cent of GCC Islamic banking customers use mobile banking services and 81 per cent said they would switch banks for a better digital experience, according EY GCC Digital Banking Report 2015...

Bahrain's National Oil and Gas Authority turns to Islamic finance

Source: Islamic Finance News

Despite the lower oil prices and volatile market conditions that have shaken the oil and gas industry in recent times and cutting into the budgets of GCC nations, Bahrain continues its exploration and is seeking to power up its energy industry with Islamic finance: the investment arm of the Kingdom...

Meethaq highlights role of Islamic finance

Source: CPI

Meethaq organised a series of meetings to highlight the role of Islamic finance in the economic development of Oman. The Shua’a initiative by Meethaq to raise awareness on Islamic economics was attended by members of the Majlis Ash’shura Economic Committee. A similar meeting held in the Higher Judicial Institute in Nizwa was attended by scholars...

Islamic finance, an untapped funding alternative

Source: Gulf TImes

ivate sector companies or investors to provide and maintain public assets and services are increasingly becoming popular, particularly in developing countries, to create infrastructure, utilities and healthcare facilities. In most cases, governments rely on the provision of private funding in exchange for fiscal benefits for...

Asia Plantation Capital Berhad Proudly Supports the Islamic Finance

Source: PR Newswire

Jointly organised by the Malaysian Institute of Accountants (MIA) and IBFIM, this year's one-day conference carries the theme, 'Future Banking in the Technological Advancement Era'. It is designed to strengthen the competencies of senior management and professionals in the Islamic financial industry, with the objective of providing useful...

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