Islamic Finance and Economics

  • UK Central Bank Develops Sharia Options for Retail Banking

    April 12, 2017

    The Bank of England is working with the UK's five Islamic banks to develop options for sharia-based retail banking services that would comply with Islamic financial bans on the use of interest as London seeks to retain its status as an international financial hub following the UK’s exit from the EU.

  • Indonesian Brits Promote Sharia Finance in UK

    March 27, 2017

    The Indonesian Sharia Economic Community in the UK is actively promoting sharia compliant/compatible economic practices as part of a strategy to organize Indonesians in Europe to promote the integration of Islamic finance into Western economies.

  • Islamic Finance Broadens in US

    March 15, 2017

    The presence of Islamic finance in the US is broadening and deepening with a steady rise in the number of institutions providing sharia-compliant services and products in the areas of neighborhood revitalization, real estate investment, and customized academic programs on Islamic finance.

  • Islamic Finance Continues Expansion into Africa

    March 08, 2017

    The growth of sharia-compatible/compliant finance methods and banking services on the African continent continues apace as Morocco's Central Bank approved a range of Islamic banking services designed to grow investment and liquidity.

  • World Bank, OIC Seek Expansion in Islamic Finance

    February 23, 2017

    The World Bank Group and the Organisation of Islamic Cooperation's (OIC) Islamic Development Bank have published a Global Report on Islamic Finance calling for the expansion of sharia finance to contribute to the global "fair and equitable distribution of income and wealth" and the achievement of the UN's Sustainable Development Goals.

  • IMF Takes Closer Look at Risks of Islamic Finance

    February 22, 2017

    The International Monetary Fund (IMF) is incorporating Islamic finance into its surveillance framework for monitoring and assessing its member-countries' economies, with particular emphasis on providing technical assistance and advice on the high-risk hybrid products that are a growing part of the $2 trillion-worth of sharia-compliant/compatible assets worldwide.

  • Sharia Banking Grows in UK Financial Markets

    February 08, 2017

    UK banking officials report that sharia-compliant/compatible banking has grown aggressively as part of the country's total financial sector, by over 400% since 2012, driven by British officials' bid to make London a global Islamic finance capital and by strong migration flows to the UK from Muslim-majority countries.

  • Dubai's Sharia Finance Pivots on "Islamic Ecosystem"

    February 08, 2017

    Dubai's ongoing initiative to ensure the country's position as the global epicenter of sharia-compatible/compliant finance pivots on the concept of an "Islamic ecosystem," comprised of interlocking economic sectors of Islamic finance, halal (sharia-compliant) food products, and Islamic lifestyles products and devices.

  • Indonesia Eyes Islamic Finance Benefits from US Travel Ban

    January 31, 2017

    Indonesia's Vice President has suggested that the temporary US travel ban on migration from seven Muslim-majority countries may prove a boon for Indonesia's efforts to position itself as a major global center for sharia finance, since Mideast investors may redirect their capital away from the US and toward Islamic finance markets.

  • Malaysia Considers Sharia Securities Fund

    January 16, 2017

    Malaysia's Securities Commission is considering the launch of a government-seeded sharia securities fund aimed to offer multi-currency sharia investment products that would help to grow the country's already-leading role in the $2 trillion global Islamic wealth and finance market.

Total Records: 112
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