Islamic Finance and Economics

Sharia Finance & Banking Expands Presence in Philippines

May 11, 2022

The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)located in the souther region of the Philippines is ground the presence of sharia-compliant/compatible banking and finance in the a southeast Asian country, with the banking and finance authorities announcing the establishment of a Shari’ah Supervisory Board (SSB) that will advance the regional project of developing an Islamic finance and banking system that operates viably in parallel to the country’s conventional system.
Iran’s Supreme Leader Exhorts University Students to Embrace Lauds New World Order

May 02, 2022

The Supreme Leader of Iran’s Islamic theocratic regime recently exhorted the country’s university students to celebrate the new world order that he identified with the war in Ukraine as evidence of declining US power, urging students studying abroad to use their soft power to spread Iran's Islamist revolutionary principles and underscoring the particular importance of Iran’s use of hard and soft power for influence-building in South Asia.
Islamic Finance Industry Shows String Growth Worldwide

April 28, 2022

Sharia-compliant/compatible finance assets continue to show robust global growth and are projected to reach almost $4 trillion within the next two years, according to a comprehensive report issued by the Organization of Islamic Cooperation’s (OIC) Islamic Development Bank, with especially strong expansion of the Islamic banking sector in the regions of the Middle East and Southeast Asia.
US Treasury's OFAC Sanctions IS Financiers & Facilitators in South Africa for Expanding Islamist Militancy

March 09, 2022

The US. Treasury Department's Office of Foreign Assets Control (OFAC) recently designated four South Africa-based individuals as facilitators and financiers in criminal activity, including financial extortion, money laundering, and kidnapping for ransom, all towards supporting the organization, recruitment, and operations of IS in Africa, with Treasury's sanction aimed at staunching the spread of Islamist militancy across the African Continent.
Iran Inks 25-Year Strategic Cooperation Agreement With China

March 04, 2022

The 25-year strategic cooperation inked by Iran's Islamic theocratic regime with China's communist authoritarian regime is now coming onstream, generating a complex network of economic, military, and security arrangements that will reinforce the Islamic regime state coercive apparatus through access to China's digital technologies of surveillance, information control and distortion, and espionage.
Turkey’s Sanctions Busting & Money Laundering Under Scrutiny in US Court Case on Halkbank

February 08, 2022

The US Justice Department (DOJ) is watching this weeks Manhattan Court of Appeals decision by the government of Turkey on a DOJ case charging Turkish state lender Halkbank of money laundering and sanctions busting for Iran, with a negative ruling on the appeal set to trigger a case that will put senior leadership in NATO-member Turkey at the center of judicial proceedings.
Islamic Fintech on the Rise in UK and Global Markets

February 02, 2022

The United Kingdom’s (UK) strong interests in making London a global hub for sharia-compliant/compatible banking and finance is set to continue with a focus on aggressive expansion into Islamic do tech (financial technology), a sector that financial exports project to have robust short- and medium-term growth in both core Organization of Islamic Cooperation (OIC) countries and in international markets.
Islamic Finance Continues Global Expansion Despite COVID

February 01, 2022

Saudi Arabia, Malaysia, and Iran are the leaders in the $200 billion global Islamic funds market, which continues to show strong growth under COVID conditions, and the General Council for Islamic Banks and Financial Institutions (CIBAFI), which is the official monitoring entity of the Organization of Islamic Cooperation's (OIC) Islamic Development Bank, forecasts continuing expansion of sharia-compliant/compatible funds.
Turkey’s Islamists Win Appeal to US Supreme on Halkbank Iran Sanctions Busting Case

January 26, 2022

Turkey’s Islamist regime has scored a win in the U.S. judicial system, when a U.S. appeals court ruled in favor of Turikish-state-owned lender Halkbank’s petition to appeal to the Supreme Court to throw out a case against Halkbank for multiple indictments of money laundering, bank fraud sanctions, and participation in a multi-billion scheme to evade US sanctions against Iran’s Islamist regime.
Strong Growth Trends Projected in 2022 for Global Islamic FinTech

January 19, 2022

The steady expansion of sharia principles into global financial markets and practices is reflected in the strong growth projections for 2022 in the Islamic FinTech industry, with particular areas of sharia-compliant/compatible services and norms projected in Organization of Islamic Cooperation (OIC) countries pushing digital banking, ESG (environmental, social, and corporate governance) investment.