DIFC records 45% rise in Islamic Assets 17/10/2019 Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, and the number eight global financial centre, has marked a significant rise in Islamic assets being managed in the Centre, recording a 45% growth between Q2 2018 and Q2 2019. Islamic finance is growing at 1.5 times the rate of traditional finance, and the MEASA continues to be a steady driver of this industry, fueled by a number of jumbo sukuk issuances and almost $1 trillion in financial assets across GCC countries. Dubai remains one of the world’s largest centres for Sukuk listings by value at $62 billion, with DIFC-based Nasdaq Dubai at $60 billion. Read more
Growth of Islamic Finance 17/10/2019 THE Islamic finance industry has seen significant growth and is now estimated to have crossed US$2 trillion (RM8.38 trillion) dollars in assets. The ecosystem has developed exponentially with the emergence of a full suite of Shariah-compliant offerings such as Takaful, Islamic funds, Shariah Advisory firms, sukuk and more.
AMU (Aligarh Muslim University) launches MBA program in Islamic banking 17/10/2019 ALIGARH To mark the launch of the two-year MBA (Islamic banking and finance) programme at the Aligarh Muslim University, the department of business administration (DBA), faculty of management studies and research (FMSR) organised the inaugural function with MH Khatkhatay (MD, Rehbar Financial Consultants, Bangalore) as the chief guest.
Greece’s Debt Crisis Explained 29/06/2015 When Greece joined the euro in 2001, confidence in the Greek economy grew and a big economic boom followed. But after the 2008 financial crisis, everything changed. Every country in Europe entered a recession, but because Greece was one of the poorest and most indebted countries, it suffered the most. The unemployment rate reached 28 percent in 2013, worse than the United States suffered during the Great Depression.
Significant untapped growth potential of digital Islamic services 15/06/2015 Deloitte and Noor Telecom, a Kuwait-based, Shari’ah-compliant closed-shareholding company, have collaborated with Dubai Islamic Economy Development Center (DIEDC) for the compilation of a report that highlights the untapped potential of the Digital Islamic Services market and offers key recommendations for realizing Dubai's vision of emerging as the capital of Islamic economy.
Islamic Banking in Indonesia: I Love Sharia Finance Program 15/06/2015 Indonesian President Joko Widodo stated during the launch of the “I Love Sharia Finance Program” that Indonesia should become the global center for Islamic finance (also known as sharia banking). The program, initiated by the country’s Financial Services Authority (OJK), was launched in Jakarta on Sunday (14/06). Islamic finance is a form of banking or banking activity that is consistent with the principles of sharia (Islamic law). In recent years, the global market for sharia-compliant financial instruments has risen robustly.
Sugar stocks up as Govt okays Rs 6000 Cr Interest Free Loan to Mills 10/06/2015 A total of Rs 6,000 crore has been set aside for interest-free loans to sugar mills for making payments to cane farmers
CIBAFI launches programme on Islamic finance 03/06/2015 MANAMA: The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has launched its new executive programme.
Turkey's Erdogan urges state lenders to step up Islamic banking 30/05/2015 ISTANBUL, (Reuters) - Turkish President Tayyip Erdogan said the launch of Ziraat Bank's Islamic business should help to attract new funds to Turkey and urged other state lenders to help to triple Islamic banking's share of the market by 2023.
Make in India should not entirely focus on global market-Raghuram Rajan 29/05/2015 The RBI governor, who is on a two-day visit to Kashmir, was replying to questions of students from Kashmir University's Business School at SKICC here.
RBI Governor Raghuram Rajan visits Pulwama, assures support to flood-hit people 29/05/2015 NEW DELHI: The Reserve Bank Governor, Raghuram Ranjan, assured the flood victims that banks would ease lending procedures and get involved in the rehabilitation process as well.
Japan looks for growth and influence from Islamic finance boom 01/04/2015 Japan is the latest global financial hub to start making inroads into Islamic finance, a move that could help strengthen regional economic ties and give its lenders an edge in winning business in markets whose growth prospects far outpace their home turf.
Ethical Banking – delivering on Islamic finance’s charitable responsibilities 10/03/2015 By Dr Abdul Halim The last decade has been transformative for Islamic banking. While the practices involved in Sharia-compliant finance have been around for over a thousand years, it is only recently that the wider world has opened up and Islamic finance has ‘gone global’.
BSE Sensex surges over 400 pts as AAP beats BJP in Delhi elections, but loses momentum 10/02/2015 After negative opening, the Sensex bounced back smartly by 400 pts points and Nifty had crossed 8500-mark on bouts of value buying in most sectors led by banking, auto, consumer durables, metal, power and FMCG in late morning deals, but by late afternoon, the markets had shed most of the gains, with BSE benchmark up by just 42.97 pts before moving up to 112.70 points to 28340.09 at pre-close. NSE Nifty was also up by 42.10 pts to 8568.45.
Union Budget 2015 to be presented on February 28 04/02/2015 Finance Minister Arun Jaitley will on Feb. 28 present his first full-year budget, seeking to put Asia's third-largest economy on a path of 7-8 percent growth over the next two years.
QNB the Middle East's most valuable banking brand 02/02/2015 Qatar National Bank (QNB) is the most valuable banking brands across both the Middle East and Africa, according to the Brand Finance Banking 500. Its brand value is up $792 million (the greatest increase of any brand in the region) to $2.6 billion. It has overtaken Turkish brands Akbank and IsBank and has entered the top 100 for the first time, ranking 79th globally. The Brand Finance Banking 500, conducted by leading brand valuation and strategy consultancy Brand Finance plc, is a league table of the world’s biggest banks, ranked by their brand value.
Africa next frontier as DIB Kenya bank approved 27/01/2015 Dubai Islamic Bank PJSC’s plan to open a Shari'ah-compliant arm in Kenya by year-end may be just the start for Gulf-based lenders seeking growth outside home markets.
Sultan Nazrin : Strive to make Islamic finance dynamic 28/10/2014 DUBAI : Muslim countries must strive to make Islamic finance and the ecosystem in which it operates as dynamic and information-rich as possible, said Sultan of Perak, Sultan Nazrin Shah.
Opportunities abundant in Islamic finance 27/10/2014 Islamic banks are projected to account for 40 to 50 per cent of the total savings of Muslims in the coming eight to ten years
Malaysia focus on Islamic capital market 14/10/2014 Malaysia’s recently announced 2014-2015 Budget contains measures to continue to foster the country’s Islamic capital market, including an extension of tax deduction for another three years until 2018 for expenses incurred in the issuance of Sukuk based on Ijarah and Wakalah principles. In future Malaysian Government Securities (MGS) and Government Investment Issues (GII) may be listed in Bursa Malaysia’s Exchange Traded Bond and Sukuk (ETBS).
Islamic Finance in India? 02/05/2014 The subcontinent, which houses the world's second largest Muslim population, resisted Islamic finance for a long time, but demand has become too big for the authorities to ignore; Suprio Bose, Islamic Business & Finance's India correspondent, updates us on the country's progress.
Harvard organises a roundtable on Islamic Finance in India 30/04/2014 Cambridge, Massachusetts: A roundtable on “Islamic Finance in India” was organized on April 27, 2014 at Harvard Law School at the conclusion of Eleventh Harvard University Forum on Islamic Finance. The roundtable focused on the challenges and opportunities in introducing Islamic finance in India.
Islamic investment is becoming ‘financial powerhouse’ in the United Kingdom 25/04/2014 Sharia-compliant investment is rapidly growing in the UK and has become a “financial powerhouse”, according to specialist asset manager London Central Portfolio (LCP). However, the firm added that there are still limited investment options in the sector.
Malaysia and Saudi Arabia agree to tie-up to boost Islamic Finance Markets 21/04/2014 Bourses in Saudi Arabia and Malaysia, the world’s two largest Islamic financial services markets, have recently signed an agreement expected to boost both stock markets.
Good prospects for professionals in Islamic finance sector 20/04/2014 Finance professionals looking for a change in their career might do well to consider working for an Islamic bank or financial services company. Analysts said there are many vacancies to fill within the industry, while attractive pay packages await the successful candidates.
Australia will soon have Shariah Advisory Board 19/04/2014 The Australian Centre for Islamic Finance has set up an advisory board to help local businesses conduct sharia-compliant transactions, including developing financing options such as Islamic bonds, the director of Australian Centre told recently to Reuters.
Malaysia forms ties to the Gulf to develop Islamic financial services 10/04/2014 A cooperation agreement between the bourses of Malaysia and Saudi Arabia – the world's two largest Islamic financial services markets – stands to help the industry grow at a greater clip in both countries.
Dubai Islamic Bank eyes Kenya, Indonesia for expansion 13/03/2014 Dubai Islamic Bank plans to expand its operations into Indonesia, Kenya and other African countries as it emerges from a period of consolidation, the bank's chief executive said.
Kenya plans framework for Islamic finance 05/03/2014 NAIROBI — Kenya’s financial regulator has proposed a separate regulatory framework for Islamic financial institutions as part of a broad 10-year strategy designed to boost capital markets in east Africa’s biggest economy.
Islamic Finance on the Rise in North Africa 15/03/2013 The estimated $1.4 trillion global Islamic finance sector could be on the rise in North Africa where governments have been introducing new regulation as they seek shariah-compliant alternatives for decreasing conventional funding sources and try to plug current account deficits.Bermuda is one of the giants of international insurance and reinsurance.
Why is gold falling, and where is it headed? Domestic gold prices have plunged below Rs 25,000 per 10 g for the first time since August 2011, mirroring an international trend. Harish Damodaran explains the factors behind the fall, after the bull run earlier in this decade.