Islamic Banking & Finance News | July 2019

Source: GulfNews

• Over the decades, the Islamic finance industry has seen significant growth and is now estimated to have crossed $2 trillion in assets. The ecosystem surrounding Islamic finance has also developed exponentially with the emergence of a full-suite of Sharia-compliant offerings such as takaful, Islamic funds, Sharia advisory firms, sukuks and more. There are many variables that have ....

Source: TheMarketResearchNews

• “Global ISLAMIC FINANCE Market Research Report 2019-2024”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive ....

Source: Brecorder

• The trend of Islamic banking increasing by 15 percents annually and almost all financial organizations are providing facility of Islamic banking. This was jointly stated by Joint Director State Bank of Pakistan Ghulam Shabbir, senior Joint Director National Institute of Banking and Finance and Member Sharia Board Muslim Commercial Bank, in an awareness session at .....

Source: Albawaba

• The Saudi Arabian Monetary Authority (Sama) said the banks were fined for violating the "individual responsible finance principles" to implement principles of justice and transparency and to ensure full compliance with the responsible finance that should meet with the actual needs of all the segments of the society. The regulator said the decision will also ensure fairness and competitiveness of ......

Source: Gfmag

• Growth in assets and net profits across most markets in which they have significant client base made 2018 a pretty good year for Islamic financial institutions (IFIs). Realizing the importance of innovation in the face of competition from conventional banks as well as earch other, IFIs are increasingly investing in technology. The winners of Global Finance’s Islamic Finance Awards 2019 are institutions that ......

Source: AMarketResearchReport

• Takaful is a Sharia-compliant Islamic insurance product, where members of the community contribute money or a part of their earnings to a pooling system that assurances against any loss or damage. The fundamental principle of takaful portrays the responsibility of each to cooperate and protect each other. Research analysts predict the worldwide takaful market to grow at a CAGR of around +19% ......

Source: IndustryReports24

• Islamic Financing Market provides a detailed analysis of the industry for the estimation period of 2019 – 2025. Islamic Financing market report includes market size, growth rate, market share, application, future trends. The market research of Islamic Financing is precise but encloses all points in brief which are essential and relevant for a customer of Islamic Financing ......

Source: GrowthBusiness

• Islamic start-up funding for small businesses is set to boom in Britain as the UK cements its position as the top Western centre for Sharia-compliant finance. The UK has five fully Sharia-compliant banks licensed with banking assets for around $4.7 billion, some of which offer start-up finance for .....

Source: Openpr

• Islamic banking software refers to the banking software that functions according to the Shariah norms for managing and monitoring banking operations. To calculate the market size, we have considered the revenue generated from the sales of Islamic banking software offered by the vendors. Integrated solutions are not included in the software suites. Reseller revenues are also ......

Source: Zawya

• Abu Dhabi: Al Hilal Bank (AHB) has announced the launch of Ahlan, a new mobile application for users to open a bank account instantly, wherever they are. The introduction of the app comes as part of the Bank’s strategy to transform into a digital-focused retail bank, investing in innovative technology to enhance customer experience. Customers can open a new account in ......

Source: AGlobalMarketResearch

• Islamic insurance is based on Islamic banking transactions, respecting the rules of Islamic law. This market has become an effective tool for financing development throughout the world, including in non-Muslim countries. Major financial enterprises are discovering strong evidence that Islamic insurance has already been established within the global insurance system and has the potential to help ......

Source: BorgenMagazine

• SEATTLE — The official law of Islam is called Sharia. It is based mostly on the Quran, but on other holy Islamic texts as well. Sharia covers a wide range of topics, from religious rituals to courtroom proceedings to food preparation. Among other things, Sharia law prohibits some very common financial practices, including excessive uncertainty and the charging of interest. These rules can make it very ......

Source: DailySabah

• The consequence of sales transactions in Islamic banks is installment-debt. While sales transactions in Islamic banks cannot be called debt-instruments, certainly the consequence is debt – money owed to banks over a specified period of time. Committing to long-term debt is problematic in itself, and having interest is a compounded problem. While Islamic banks don't engage in interest, they should .....

Source: MarketTrendsNews

• The report presents an in-depth assessment of the Islamic Banking Software including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Islamic Banking Software investments from ....