Islamic Finance and Economics

  • Islamic Banking Centers Pursue FinTech Innovation

    June 06, 2017

    Global finance experts are  projecting intense competition among Mideast and Asian Islamic finance centers, from Dubai to Malaysia, to promote innovations in financial technology (fintech) as accelerators for the growth of sharia banking services.

  • Islamic Finance Shows Slowed Annual Growth

    May 18, 2017

    The annual report released by the Islamic Financial Services Board indicated that 2017 was a year of slowed growth in the sharia-compliant financial services industry, suggesting the industry's lack of resilience in the face of external shocks such as declining global oil prices and weak economic growth worldwide.

  • OIC Pushes Sharia Finance with World Bank

    May 11, 2017

    The Organisation of Islamic Cooperation (OIC) continues its efforts to promote the globalization of Islamic finance, working through its Islamic Development Bank to support the World Bank's recent conference in Malaysia to explore tapping into the $1.9 trillion market of sharia-compliant assets to finance global infrastructure development.

  • Bahraini Group Plans to Upgrade Islamic Finance Regulations

    April 26, 2017

    The Bahrain-based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) plans to upgrade accounting standards and regulatory guidelines designed to maximize the investment potential of the estimated $1 trillion in worldwide assets in specialized sharia endowments (awqaf), which are primarily focused on mosque projects and global Islamization programs.

  • Saudi Arabia Issues Country‚Äôs First Global Islamic Bond

    April 19, 2017

    Pressured by collapsing oil revenues and falling currency reserves due to the country’s move to diversify its oil-dependent economy, the Saudi Arabian government has turned to international capital markets for debt relief, raising $9 billion with the Wahhabi Kingdom's first-ever Islamic bond issue.

  • Algerian Government Reluctantly Moves Towards Islamic Banking

    April 19, 2017

    Algerian financial officials are moving reluctantly, given concerns stemming from the country's 1990's civil war between Islamists and secularists, to introduce sharia-compliant banking services as a way to offset the country's drop in oil revenues.

  • 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.

Total Records: 128
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