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Displaying News From Islamic Finance

Challenges to Islamic banking business2017/10/20
The Islamic financial law has long history but Islamicbanking and finance industry came into existence with profit and loss sharing investment byEgypt's Mit Ghamr Saving Banks in 1963. After official existence Islamic banking hasgrown in the area of finance, banking, insurance, mortgage, and assets management businesswith annual growth rate of 10-15 % ...

Britain plans new sukuk deal; Brexit may boost Islamic finance2017/10/20
LONDON/SYDNEY: Britain plans to reissue Islamic bonds in 2019, a government official told Reuters, in a sign the country's exit from the European Union may accelerate plans to develop an Islamic finance industry.
In 2014, Britain became the first Western country to issue an Islamic bond or Sukuk, raising £200mil (RM1 ...

Russia's Sberbank considers Islamic finance entity, to propose regulatory change2017/10/20
SYDNEY: Russia's largest lender Sberbank is considering setting up an Islamic finance entity and will propose regulatory changes to facilitate Sharia-compliant business, a senior bank official told Reuters.
Russian banks want to develop Islamic finance to attract investors from the Gulf and Southeast Asia, underscoring efforts to widen funding sources strained by an economic crisis and Western-imposed sanctions ...

DIB posts 26pc Q3 profit rise2017/10/20

DUBAI: Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in impairment charges ...

Growth & strategies of Islamic banking2017/10/20
The rise of Islamic banking is a welcome sign. However, at present, conventional banking and Islamic Banking Institutions (IBIs) are operating on a parallel basis in Pakistan.
Globally two strategies are recommended; the first one is known as Revolutionary strategy which Iran followed in respect of introduction of Islamic banking ...

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