Global Islamic Financing Market 2019 Study of Top Players

Source: Indaily Times

  • MarketandResearch.biz newly added the fact-findings of Global Islamic Financing Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023 that offers some penetrating overview and solution in the complex world. The research report provides a studious investigation of current synopsis of the market size, discuss growth challenges at various levels, demand and supply scenarios and provide forecast statistics. The review divides the market by players, applicant usage, the categorical divisions, and the geographical divisions....

Afghanistan’s Banking Sector Strives For Stability

Source: The Banker

  • Afghanistan’s banking system is at an inflection point, following years of restricted growth due to the country's volatile political landscape. While under the control of the Taliban regime from 1996, the country lost access to international markets and business modernisation. While the conflict with the US-led coalition marked the end of the Taliban regime in 2001, the ensuing years of continued instability – with the Taliban still holding some areas of Afghanistan – saw international banks exit the country....

Established UAE Takaful Company Reports Significant Increase in its Top-Line

Source: Zawya

  • SALAMA Islamic Arab Insurance Company, one of the UAE’s largest and oldest Shari’ah compliant Takaful solutions provider, has reported financial results for the twelve-month period ending December 31, 2018. Listed on the Dubai Financial Market and entering its fortieth year of operation, SALAMA has posted double-digit growth in 2018 despite the insurance companies listed on UAE stock exchanges reporting less than 1 per cent growth in written premium during the same period. 2018 witnessed year-on-year gross written premium in the UAE...

EMEA Finance Magazine Europe Names KFH “Best Islamic Bank in Bahrain”

Source: AlBawaba Business

  • Kuwait Finance House Group received the “Best Islamic Bank in Bahrain” award by the internationally reputed EMEA Finance Magazine Europe, a London-based publication that covers news on the global financial and banking industry. This achievement comes in recognition of the Bank’s outstanding performance in the regional market. Group Chief Treasury Officer and KFH Board Member, AbdulWahab Al-Roshood, received the award on behalf of the Group during an awards ceremony held in Dubai, where the KFH Group was also awarded with the “Best Islamic Bank in Kuwait” title....

Domestic Funds Turn Increasingly Bearish on QSE Transport

Source: MenaFn

  • Islamic equities were seen declining faster than the main index on the market, where foreign funds' net buying considerably eased.
    Trade turnover declined amidst higher volumes on the bourse, where banking, industrials and realty sectors together accounted for more than 86% of the total volume. The Total Return Index shrank 0.38% to 18,592.66 points and Al Rayan Islamic Index (Price) by 0.77% to 2,372.9 points, while All Share Index rose 0.18% to 3,076.81 points. The transport index fell 0.9%, telecom (0.82%), industrials (0.29%) and banks and financial services...

Mideast Stocks - Abu Dhabi Slips Further, Banks Support Saudi Market

Source: Zawya

  • In Qatar, the index fell 0.4 percent as Masraf Al Rayan gave up 1.8 percent, Qatar International Islamic Bank lost 2.9 percent, and Barwa Real Estate BRES.QA fell 1.8 percent. Last week, blue-chip Aldar Properties led the drop, shedding 5.7 percent as it traded ex-dividend. The stock was little changed on Sunday. Dana Gas added 1.1 percent after announcing it had received $19 million from Egypt. The Dubai index added 0.1 percent, lifted by heavyweight Emaar Properties, which gained 2.1 percent and was the most heavily traded stock on Sunday....

Meeting Explores New Avenues for Growth of Islamic Economy

Source: Gulf Today

  • Abdullah Mohammed Al Awar, Executive Director of Dubai Islamic Economy Development Centre, presented a report on the Islamic economy globally and the Dubai’s efforts in the growth of the Islamic economy. He pointed out that the volume of Muslims spending on the food and beverage and lifestyle sectors reached 2.1 trillion dollars in 2017. Furthermore, the growing growth of the promising Islamic nations has played a major role in influencing markets in terms of promoting Islamic concepts in diverse sectors, including food, Islamic banking, finance, fashion, cosmetics, family tourism and healthcare, he added....

Investing within Shariah: A guide to Islamic Financial Products

Source: Zawya

  • When economists raked over the ashes of the global economic meltdown of 2008 they realised that while banks and financial institutions in almost all countries across the world were adversely affected, the Islamic financial industry was especially quick in its recovery compared to conventional banking. This has encouraged millennial investors in the Middle East to build an investment strategy that complies with Islamic, or shariah, rules. According to Thomson Reuters’ Global Islamic Asset Management Outlook, global Islamic funds under management are expected to reach $77 billion by 2019.....

Malaysia to see first neobank by 2020

Source: MalayMail

  • “In addition, with Malaysia’s leading role in the Islamic finance industry, particularly the regulatory maturity in the sector, the country is primed to have the first virtual Islamic bank by next year, as it has the best talents, experiences and resources,” it said. Touching on the future of traditional banks in the face to rapid technology innovation and change, FAOM believed that in order to survive, traditional banks must firstly, shift their corporate mindset towards being more open for collaboration to facilitate mutual and viable partnership with fintech firms.....

High Growth in Takaful Market 2018-2025 with Top Eminent Key Players

Source: Crypto News

  • Kuwait Finance House, Dubai Islamic Bank, Malayan Banking Berhad, Islamic Insurance Company, JamaPunji, AMAN, Salama, Standard Chartered, Takaful Brunei Darussalam Sdn Bhd, Allianz, Prudential BSN Takaful Berhad, Zurich Malaysia, Takaful Malaysia, and Qatar Islamic Insurance Company. Takaful is rapidly gaining momentum, particularly in the Asia Pacific and the GCC region, owing to a large Muslim population. Muslims currently account for a fifth of the total global population and these levels are expected to further increase in the future. Another major driver....

The Wave of Bank Mergers in the Gulf

Source: International Policy Digest

  • In a press release, Saudi British Bank described the merger as proceeding along with the Kingdom’s Vision 2030 national transformation. National Commercial Bank and Riyad Bank are recruiting advisers on a potential merger which could produce the Gulf’s third bigger lender with $182 billion in assets. A cross-border merger is also underway between Kuwait Finance House and Ahli United Bank from Bahrain and it will form the largest Islamic bank of the world. This move may be interpreted as an attempt to jumpstart the Islamic finance market given that Dubai’s Islamic Finance market....

Excellent Research Growth Factor of Islamic Banking Software Market

Source: Mr Updates

  • The global Islamic Banking Software market is comprehensively and Insightful information in the report, taking into consideration various factors such as competition, regional growth, segmentation, and Islamic Banking Software Market size by value and volume. This is an excellent research study specially compiled to provide the latest insights into critical aspects of the Islamic Banking Software market. The report includes different market forecasts related to market size, production, revenue, consumption, CAGR, gross margin, price, and other key factors....

Maldives Islamic Bank Introduces MVR 250K Credit Facility

Source: Rajje.mv

  • Customers between the ages of 25 and 30 to borrow sums from MVR 25,000 to MVR 250,000. The Maldives Islamic Bank has introduced a MVR 250,000 credit facility for their customers. The ‘Ujaalaa Dhiriulhun’ programme was introduced this week, and allow customers between the ages of 25 and 30 to borrow sums from MVR 25,000 to MVR 250,000. A security is not required, and borrowers have until three years to return the amount....

Islamic Finance Poised for Growth Boasting a Unique Model in Oman

Source: SalaamGateway

  • Muscat, 26 March 2019– In line with its strategy to provide access to Islamic finance, banking and investment for all, Bank Nizwa CEO Khalid Al Kayed highlighted the prospects for Islamic finance to grow in Oman supported by the unique model adopted in the Sultanate. As the largest and fastest growing full-fledged Islamic Bank in the Sultanate, Bank Nizwa is leading the sector’s growth by diversifying its portfolio into a multitude of industries. The bank’s investment portfolio is now divided 50-50 between retail and wholesale banking....

Islamic Financing Market Is Anticipated To Maintain Its Dominance By 2025

Source: French Post

  • Islamic Financing Market report provides in-depth statistics and analysis available on the market status of the Islamic Financing Manufacturers and is a valuable method of obtaining guidance and direction for companies and business enterprise insider considering the Islamic Financing market 2019. It contains the analysis of drivers, challenges, and restraints impacting the industry. Islamic banking or Islamic finance is banking or financing activity that complies with sharia (Islamic law) and its practical application through the development of Islamic economics.....

Bank Muscat Shareholders Approve Renewal of $2bn EMTN Programme

Source: MenaFn

  • Bank Muscat shareholders approved the renewal of bank's euro medium term note (EMTN) programme amounting to US$2bn. Mashani said, 'Following 36 years of successful growth, the sultanate's flagship financial institution is poised to further consolidate its leading position. Bank Muscat shareholders also approved the appointment of the Sharia'a supervisory board of Meethaq, the bank's Islamic banking window, at the AGM. Bank Muscat had reported a net profit of RO179.63mn for the year 2018 compared to RO176.82mn net profit reported for the previous year, an increase of 1.6 per cent....

Islamic Banks Still Anchoring Growth of Malaysian Banking Sector

Source: SalaamGateway

  • The latest edition of RAM Ratings’ annual publication, Islamic Banking Insight, reveals that Islamic financing is still anchoring the growth of the overall Malaysian banking sector. Islamic banking continued to expand at a much faster pace than conventional loans in 2018, coming in at 11.0% (2017: 10.3%), in contrast to the latter’s 3.3% growth. As at end-January 2019, Islamic financing comprised some 32% of the overall system’s loans. RAM’s expects the financing growth of the Islamic banking sector to stand at around 10-11% in 2019...

Indonesia Raises $1.49bln Rupiah from Retail Sukuk - Govt

Source: Zawya

  • The Islamic bonds, offered between March 1 to 20, carry a coupon of 8.05$ per annum and have a three-year maturity. JAKARTA - Indonesia has raised 21.1 trillion rupiah ($1.49 billion) through the sale of retail Islamic bonds, the finance ministry said on Tuesday, as Jakarta bumps up such issuance to reduce its dependence on foreign funds. The Islamic bonds, offered between March 1 to 20, carry a coupon of 8.05 percent per annum and have a three-year maturity. A total of 35,026 investors bought the bonds, the ministry said.....

Mandatory Halal Certification as Indonesia Tries to Snare Share of $3trln Sharia Market

Source: AEC News

  • With almost 269 million people, Indonesia is the world’s most Muslim populated country. However, when it comes to cashing in on the global halal industry it ranks 10th, alongside Brunei, for its ability to seize opportunities in the Islamic economy. According to figures from the Dubai Islamic Economic Development Centre (DIEDC) and Thomson Reuters, in 2016 Indonesia imported some $169.7 billion of halal food and beverage, while in 2017 Malaysia exported more than $10.6 billion worth of halal-certified products....

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