Islamic Finance and Economics

  • UN War Crimes Investigators Uncover Key Evidence on IS Terrorist Financing Network

    January 03, 2022

    The UN's investigation into IS war crimes and genocide in the former caliphate territories of Iraq and Syria has uncovered key evidence detailing the financial structure of IS’ “collection, storage, management and movement of its wealth” and the Islamists’ targeting of religious and ethnic minorities.

  • Ratings Giant Fitch Sees M & A Consolidation of Islamic Banking Sector in GCC

    December 21, 2021

    Arabianbusiness.com reports the six Islamic theocracies that comprise the Gulf Cooperation Council (GCC) are likely to see major moves in 2022 to consolidate their sharia-compliant/compatible financial sectors, with the mergers and acquisitions (M & A) trend likely to generate national and regional champions in Islamic finance, according to new reporting by  US credit ratings giant Fitch.

  • Indicators Point to Strong Growth in Islamic Finance Supply & Demand in GCC Countries

    December 21, 2021

    Indicators for sharia compliant/compatible investment and wealth generation instruments are expected to show strong growth in the markets of the Islamic theocratic regimes comprising the member-states of the Gulf Cooperation Council (GCC), with market survey data pointing to strongest potential for application of Islamic principles to environmental, social and governance (ESG) standards tools and sharia practices to socially responsible investing (SRI).

  • Saudi-UAE Summit Signals Continuing Ties Among Islamist Regimes of GCC

    December 15, 2021

    The summit meetings between Saudi Arabia’s Crown Prince and his counterpart in the United Arab Emirates (UAE) are being billed as a new era in the strategic cooperation between the Arabian Gulf’s two largest economies in the run-up to the forthcoming meeting of the Gulf Cooperation Council (GCC).

  • Sharia Finance Makes Greater Inroads into Competitive European Markets

    December 15, 2021

    US global credit rating giant Fitch forecast that Luxembourg will remain the European leader In Islamic Mutual Funds Industry (MGI) in the short-to-medium term, signaling the confusing inroads of sharia-compatible/compliant finance in Europe, as Western countries target competitive advantages aimed at capturing market share in the multi-trillion-dollar sharia compatible/compliant global finance industry. 

  • Sharia Economics Contributes to Turkey’s Financial Free-fall

    December 15, 2021

    According to The Spectator, The financial free-fall of Turkeys economy had been aggravated by the country’s Islamist president’s application of dogmatic sharia principles to the country’s economy, and his theocratic public discourse about protecting Turkey through by building an Islamic economy have gutted the value id the country’s currency and bankrupted large segments of the population. 

  • Gaza’s Islamist Groups Use Cryptocurrency as New Jihadist Funding Tool

    December 15, 2021

    Islamist militant groups in Gaza are using cryptocurrency as a new fundraising tool to finance jihadist operations against Israel, with bitcoin and other cryptocurrencies providing cover from international counter-terrorism laws designed to crack down on global funding networks for a diverse range of Islamist extremist activities. 

  • Islamic Banking Show Robust Growth in UAE

    December 01, 2021

    The Islamic banking sector in the Arab Emirates (UAE) showed robust growth for 2020 and 2021, according to metrics for use of sharia-compliant/compatible products as well as perceptions of trust for Islamic banking versus conventional banking.

  • UK Leads on Integration of Global Sharia Finance with International Climate Change

    November 15, 2021

    The United Kingdom (UK) has led the establishment of three-year multinational High-Level Working Group (HLWG) aimed at ensuring the integration of sharia finance into all UN Climate Summit (COP26) initiatives, aiming to boost demand for sharia compatible/compatible instruments to support international climate change infrastructures and policies. 

  • FATF Grey-Lists Turkey for Islamist Terror Financing and Money Laundering

    October 27, 2021

    The Paris-based Financial Action Task Force (FATF) has placed Turkey on the Grey List that monitors violations of international financial protections against corruption, citing the Islamist government for its failures to take adequate measures to clamp down on financing of Islamist terror groups and related money-laundering operations.

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