Islamic Finance and Economics

  • Hong Kong Stays Committed to Becoming Islamic Finance Hub

    December 17, 2014

    Despite tepid growth in Hong Kong's sharia finance sector since the one-billion-dollar, sovereign sharia bond offering in September, the Hong Kong Monetary Authority (“HKMA”) continues to amend the territory's legal, regulatory, and taxation structures to make Hong Kong a global sharia-finance hub linking investors from the Mideast and China.

  • Sharia Compliance Beginning to Shape Online Internet Consumer Ventures

    December 17, 2014

    Internet consumer portals are demonstrating a trend toward the development of sharia-compliant products designed to capture market share among the world's 1.6-billion Muslim consumers, with MasterCard's new sharia-compliant debit card an indicator of the expansion of sharia-customized consumer options in travel, food, and lifestyle goods.

  • Sharia Banks Weakened by Poor Regulation, Low Profits

    December 04, 2014

    Global finance experts meeting in Bahrain at the World Islamic Banking Conference raised strong concerns about the weak regulatory standards, low profitability, and poor customer satisfaction reports in the sharia-compatible/compatible banking industry, despite remarkable growth in global sharia assets estimated at $2 trillion.

  • Sharia Law Is Going Global with Islamic Financial Products and Markets

    December 03, 2014

    The ongoing, rapid global expansion of sharia-compliant/compatible products in 2014, underscored by the sharp uptick in new Islamic sovereign bond offerings by Western countries such as the United Kingdom and Luxembourg, suggests the mainstreaming of sharia law into  global finance markets.

  • Sharia Finance Expanding in Western Hemisphere

    November 26, 2014

    The expansion of Islamic finance to the Western hemisphere is gaining support from Brazil, with the National Bank of Abu Dhabi and the Arab Brazilian Chamber of Commerce cooperating in efforts to grow sharia-compliant/compatible banking products and financial instruments in South America's largest and most populous country.

  • Slippery Slopes from Sharia Profits to Sharia Law in U.K. Push to Become Global Center of Islamic Finance

    November 19, 2014

    The push by British financiers and politicians to make London the world's global capital of the $1.7 billion Islamic finance market reveals the slippery slope from sharia-compliant finance to expanding influence for sharia law, as experts note that the U.K. as "a massively enabling environment for Islamic finance" has already begun to impact the U.K.’s legal system, with judges resolving disputes between contracting parties on sharia instruments by making decisions "in line with Sharia, so long as the relevant clauses do not clash with U.K. legislation."

  • World Islamic Economic Forum Becoming Global Platform for Islamic Competitor to Davos

    November 06, 2014

    The 10th World Islamic Economic Forum ("WIEF"), meeting in the United Arab Emirates, was touted by the WIEF's growing success as a platform for "Muslim nations" to influence global economic developments and as an alternative to the renowned Davos World Economic Forum.

  • Globalization of Sharia Finance Reflected in Luxembourg Participation in World Islamic Economic Forum

    November 05, 2014

    The growing global clout of sharia financial services and products was on full display at the World Islamic Economic Forum (“WIEF”) held last week in the United Arab Emirates, as Luxembourg's Prime Minister and Finance Minister participated by signing new memoranda of understanding designed to expand the country's position as a European leader in the market for Islamic sovereign debt instruments.

  • New Islamic Online Platform Launched as Parallel to Amazon

    November 05, 2014

    Malaysia's Prime Minister announced the launch of a new Islamic online platform, zigzag.com, that will aim to capture the 1.6 billion Muslim consumers around the world, focusing specifically on halal (sharia-based) consumer products and services.

  • IMF Supporting Expansion of Sharia Finance

    October 15, 2014

    The International Monetary Fund's ("IMF") Interdepartmental Working Group on Islamic Finance met with the External Advisory Group for the first time since its establishment this past summer to begin cooperation aimed at bolstering the globalization of Islamic finance.

Total Records: 112
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