Islamic Finance and Economics

  • IMF Warns UAE of Regulatory Risks in Islamic Finance Industry

    August 10, 2015

    The International Monetary Fund's ("IMF") latest annual report on the United Arab Emirates ("UAE") warned that the growth of its Islamic finance industry will depend on robust improvements in currently-weak regulatory frameworks and governance structures for sharia-compliant products and financial dispute-resolution.

  • OIC Continues Push to Mainstream Islamic Finance

    August 03, 2015

    The Organisation of Islamic Cooperation ("OIC"), the global, multilateral organization whose charter identifies it as the protector of the world's Muslims, continues to use its various institutional platforms to push for the financial mainstreaming of the "moral economy" and "sustainable-growth-and-development" advantages of sharia economics and finance.

  • OIC Makes More Headway with World Bank on Sharia Finance

    August 03, 2015

    The Organisation of Islamic Cooperation's ("OIC") Islamic Development Bank continues to make headway with the World Bank's "Global Islamic Finance Development Center," for the promotion of sharia-compliant/compatible instruments, co-sponsoring a massive upcoming international conference in Turkey on Islamic finance.

  • Iran Plans Increased Trade Ties with OIC Countries When Sanctions End

    July 02, 2015

    Iran's finance and trade officials are planning for a major expansion of the country's global trade and finance activities after easing of sanctions at the conclusion of the international nuclear negotiations, based on a major increase in Iran's shareholder status in the International Islamic Trade Finance Corp ("ITFC") of the Organisation of Islamic Cooperation ("OIC").

  • Sharia Finance Giving Muslim Religious Leaders Influence in Global Finance

    June 11, 2015

    The move by Pakistan's Securities and Exchange Commission to create a sharia advisory board dominated by Muslim scholars mirrors the globalizing trend toward centralized regulation of sharia-compliant/compatible finance guided by economic principles of Islamism.

  • Sharia Finance and Development Deepen Asia-Mideast Ties

    June 11, 2015

    Islamic finance is gaining strong support in Asia's leading financial centers, which are competing aggressively to expand trade and commercial ties with Mideast, in order to access massive sharia-based/compliant financial instruments and capital to support colossal infrastructure and development projects.

  • Risks in Islamic Finance Continue to Concern IMF

    May 27, 2015

    Although recognizing the comparative advantages of Islamic finance in terms of strong risk management, cultural appeal, and job creation, the International Monetary Fund ("IMF") continues to explore effective mechanisms to improve the lack of standards harmonization and regulatory transparency which continue to present serious risks in the $1.8 trillion global marketplace for sharia-compliant/compatible finance.

  • Turkey Aims to Become Eurasian Gateway for Sharia Finance

    April 13, 2015

    The President of the Islamic Development Bank ("IDB"), an agency of the 57-member-state Organisation of Islamic Cooperation ("OIC"), is encouraging European Union candidate-country Turkey to work to establish itself as the gateway for sharia-compliant financial and banking services and products linking Asia and Europe.

  • Islamic Development Bank Plans to Expand Sharia Finance in Africa

    April 08, 2015

    The President of the Islamic Development Bank, the main financial institution of the 57-member-state Organisation of Islamic Cooperation ("OIC"), announced plans for robust expansion of sharia-complement/compatible finance throughout Africa as a means to accelerated economic development on that continent.

  • ASEAN Economic Integration Likely to Accelerate Globalization of Sharia Banking and Finance

    April 01, 2015

    Economic development and finance experts anticipate that the ongoing acceleration of the formal economic integration of the Association of Southeast Asian Nations ("ASEAN") will grow both globalization of demand and supply of sharia-compliant banking products and financial markets, making Southeast Asia a major market for the expansion of associated sharia ideas and practices.

Total Records: 97
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