Islamic Finance
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IFSB to develop detailed guidance on safety nets in Islamic finance

IFSB to develop detailed guidance on safety nets in Islamic finance | Islamic Finance | Scoop.it
The Islamic Financial Services Board (IFSB) plans to develop more detailed guidance on financial safety nets to help harmonize Islamic principles with existing legal systems, as the industry body strengthens ties with financial regulators.
KM@INCEIF's insight:
The Islamic Financial Services Board (IFSB) looking to commence work on providing more detailed guidance on the implementation of key pillars of financial safety net for Islamic finance. Read more here: http://sco.lt/75jelt
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The race to become the world’s leading Islamic fintech hub

The race to become the world’s leading Islamic fintech hub | Islamic Finance | Scoop.it
The race is on to become the world’s leading Islamic fintech hub, with London and the UK putting in a strong bid
KM@INCEIF's insight:
London can be at the heart of the Islamic fintech revolution. Read more here: http://sco.lt/8vVfPd
 
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Bank of England to offer Islamic liquidity tool more widely | Reuters

Bank of England to offer Islamic liquidity tool more widely | Reuters | Islamic Finance | Scoop.it
The Bank of England plans to offer aproposed sharia-compliant liquidity tool to a wider range offinancial institutions beyond Islamic banks to boost demand, asenior official said on Monday.
KM@INCEIF's insight:
The Bank of England plans to offer Islamic liquidity tool to a wider range of financial institutions in a move to position itself as a global hub for Islamic finance. Read more here: http://sco.lt/7sVWcr
 
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Islamic finance must be proactive to reduce poverty, says Sultan Nazrin | The Malaysian Insight

Islamic finance must be proactive to reduce poverty, says Sultan Nazrin | The Malaysian Insight | Islamic Finance | Scoop.it

Perak Ruler Sultan Nazrin Muizzuddin Shah says the Maqasid al Shariah, often viewed as the foundation of Islamic finance, should form the basis for structuring a strategic roadmap for the long-term development of the industry. – The Malaysian Insight file pic, March 24, 2018.

 
KM@INCEIF's insight:
The Islamic finance sector must remain relevant by being involved in the global agenda to alleviate poverty and inequality, said Perak Ruler Sultan Nazrin Muizzuddin Shah. Read more here: http://sco.lt/8S2xWL
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Islamic finance to continue outshine conventional banking: Moody's | New Straits Times 

Islamic finance to continue outshine conventional banking: Moody's | New Straits Times  | Islamic Finance | Scoop.it
KUALA LUMPUR: The growth of the Islamic finance sector will continue to outshine the conventional assets across core Islamic finance markets in coming years, Moody’s Investors Service said.
KM@INCEIF's insight:
Islamic finance industry set to extend its growth, says Moody's. Read more here: http://sco.lt/77lLfN
 
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Time for Islamic finance to move away from replicating debt contracts

Time for Islamic finance to move away from replicating debt contracts | Islamic Finance | Scoop.it
Global economic growth is expected to exceed 4%, a very strong performance by recent standards. Stock markets in the US, Europe and elsewhere are at historic highs. Interest rates, despite three hikes in the US, continue to be near historic lows.
KM@INCEIF's insight:
Islamic finance needs to move away from merely replicating debt contracts to risk-sharing contracts for its own rejuvenation. Read more here: http://sco.lt/5ZbhoH
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CIMB expects sovereigns to issue green Islamic bonds in 2018 - Business News | The Star Online

CIMB expects sovereigns to issue green Islamic bonds in 2018 - Business News | The Star Online | Islamic Finance | Scoop.it

Rafe Haneef, Chief Executive of CIMB's Islamic banking arm - "We predict about 3 to 5 sovereign sukuk issues to come to market this year and we expect some of them to be green issuances," Rafe said. "Corporates are also eyeing green sukuk issuances."

KM@INCEIF's insight:
Sovereigns and corporate are looking to embrace the green route through issuance of green Islamic bonds in 2018. Read more here: http://sco.lt/6Zez4b
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IDB, WB eye $1.9 trillion Islamic finance market

IDB, WB eye $1.9 trillion Islamic finance market | Islamic Finance | Scoop.it

RIYADH: The Islamic Development Bank (IDB) and the World Bank are to use the rapidly growing Islamic finance market for infrastructure development projects through public-private partnerships (PPP).

KM@INCEIF's insight:
The Islamic Development Bank (IDB) in partnership with the World Bank looking to unlock the potential of Islamic finance market worth $1.9 trillion for infrastructure development projects using public-private partnership (PPP). Read more here: http://sco.lt/8CpHJx
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PRIMER: Islamic finance & sukuk explained | IFLR.com

PRIMER: Islamic finance & sukuk explained | IFLR.com | Islamic Finance | Scoop.it

A common misconception is that Islamic finance is just banking without charging interest. Islamic finance however is concerned with the very nature of money and how it is used.

KM@INCEIF's insight:
So what makes Islamic finance different? What is a sukuk? Read the explanation here: http://sco.lt/5WH8kb
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Why Are So Many People Adopting the Islamic World's Way of Banking?

Why Are So Many People Adopting the Islamic World's Way of Banking? | Islamic Finance | Scoop.it

For generations, millions of Americans have lived in accordance with their religious or cultural beliefs. For example, certain segments of the population live Kosher lifestyles. Others live without electricity or modern gadgets. But few of us consider changing up the way we do our banking. Looking at religious texts, however, reveals that there actually are rules regarding how we should be treating our money — and how our banks treat it, too. One example? Islamic banking.

KM@INCEIF's insight:
Islamic finance is stretching beyond the Muslim world. Why? There are a couple of key elements that have to do with interest rates and risk. Read more here: http://sco.lt/8Eyg6b
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Islamic financing seen promising

Islamic financing seen promising | Islamic Finance | Scoop.it
Kuala Lumpur-based World Islamic Economic Forum (WIEF) sees huge opportunities for Islamic finance in the Philippines as an option to conventional financial services.
KM@INCEIF's insight:
Tun Musa Hitam, WIEF Foundation chair: "Exploring Islamic finance principles and facilities within Asean would bring significant returns particularly when it comes to engaging and activating the lower income community toward contributing to the economy." Read more here: http://sco.lt/8tepcH
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Bank Negara buys land for RM2b for financial education hub - Business News | The Star Online

Bank Negara buys land for RM2b for financial education hub - Business News | The Star Online | Islamic Finance | Scoop.it

KUALA LUMPUR: Bank Negara Malaysia has acquired a piece of land near the central bank here from the government for its financial education hub. 

KM@INCEIF's insight:
BNM acquisition of RM2b worth of land marks the future development of education and training facilities for financial services. Read more here: http://sco.lt/5zBWWf
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The Future Of Islamic FinTech Is Bright

The Future Of Islamic FinTech Is Bright | Islamic Finance | Scoop.it

The 24th World Islamic Banking Conference (WIBC) in Bahrain was held this week and it was great to see the increased focus on FinTech since last year. With the growth of FinTech across the Gulf Cooperation Council (GCC) and generally across the Middle East and North Africa (MENA), it is impressive to see what the regional ecosystem has achieved in the past year.

KM@INCEIF's insight:
Islamic Fintech offers the opportunity to transform the lives of millions of people globally, and to help transform the Islamic FinTech hubs into 4th Industrial Revolution digital leaders. Read more here: http://sco.lt/7FhZw1
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A cause for optimism for the future of Islamic finance

A cause for optimism for the future of Islamic finance | Islamic Finance | Scoop.it
It might come as a surprise that the world is not nearly as globalized as people think. The share of cross-border investment in the world in 2016 accounted for less than 10 percent of all investment in the world, according to the latest DHL Interconnectedness Index.
KM@INCEIF's insight:
The evolution of the Islamic finance industry into a more sustainable ecosystem globally means that it can contribute to the economic development of emerging economies. Read more here: http://sco.lt/7OjQJN
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Dubai Islamic Bank unveils new home finance solution | ZAWYA MENA Edition 

Dubai Islamic Bank unveils new home finance solution | ZAWYA MENA Edition  | Islamic Finance | Scoop.it
MyHome gives the flexibility to customise EMIs based on your financial situation - ZAWYA MENA Edition
KM@INCEIF's insight:
Dubai Islamic Bank's "MyHome" is set to change UAE's home finance market. Read more here: http://sco.lt/7mtwo5
 
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Islamic finance growth means new opportunities for women

Islamic finance growth means new opportunities for women | Islamic Finance | Scoop.it

The Islamic finance gender balance in Malaysia is almost on equal footing, in no small part due to Dr. Zeti Akhtar Aziz, the former first female governor of the central bank.

 
KM@INCEIF's insight:
As the appeal of Islamic finance continues to grow, more women are seeking opportunities within the sector. Read more here: http://sco.lt/7OGQ7t
 
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More works needed to encourage value-based intermediation adoption

More works needed to encourage value-based intermediation adoption | Islamic Finance | Scoop.it
More engagement should be done with public-listed and smaller-cap companies on the adoption of value-based intermediation (VBI), said Employees Provident Fund’s (EPF) Equity Research head Nor Azam Yahya.
KM@INCEIF's insight:
Value-based intermediation (VBI) is very much a game changer in the Islamic finance industry, but what else should be done to improve it's adoption? Read more here: http://sco.lt/6CDB2n
 
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Mali's debut sale of Islamic bonds to fund social housing | Reuters

Mali's debut sale of Islamic bonds to fund social housing | Reuters | Islamic Finance | Scoop.it

The government of Mali will complete its first sale of Islamic bonds, or sukuk, this week using a lease-based structure linked to affordable housing projects, the transaction's offering document shows.

KM@INCEIF's insight:
Mali uses the Ijara structure (a sale and lease-back contract) to raise 150 billion CFA franc ($285 million) via a seven-year deal that carries a profit rate of 6.25 percent. Read more here: http://sco.lt/7O5JVh
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Cover Story: Rediscovering the spirit of Islamic banking

Cover Story: Rediscovering the spirit of Islamic banking | Islamic Finance | Scoop.it

At 37 years old, Arsalaan Ahmed is the youngest chief executive in the local Islamic finance industry. As CEO of HSBC Amanah Malaysia Bhd, his vision is to change the industry’s narrative on Islamic finance and he hopes to play a role in helping the industry chart a new path forward.

KM@INCEIF's insight:
Other than technicalities of products and services, narrative on Islamic finance should be focused on the principles of social justice and create a positive impact on society. Read more here: http://sco.lt/5qfYxN
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IFSB to develop detailed guidance on safety nets in Islamic finance

IFSB to develop detailed guidance on safety nets in Islamic finance | Islamic Finance | Scoop.it
The Islamic Financial Services Board (IFSB) plans to develop more detailed guidance on financial safety nets to help harmonize Islamic principles with existing legal systems, as the industry body strengthens ties with financial regulators.
KM@INCEIF's insight:
The Islamic Financial Services Board (IFSB) looking to commence work on providing more detailed guidance on the implementation of key pillars of financial safety net for Islamic finance. Read more here: http://sco.lt/75jelt
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MinDA to ask BSP to craft Islamic finance policy

MinDA to ask BSP to craft Islamic finance policy | Islamic Finance | Scoop.it
The policy team of Mindanao Development Authority is studying what existing polices are available in the banking system to 'enable' Islamic finance
KM@INCEIF's insight:
New developments emerges in efforts to "enable" Islamic finance in Mindanao, Philippines. Read more here: http://sco.lt/55632v
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Afreximbank taps Islamic finance to support Africa trade

Afreximbank taps Islamic finance to support Africa trade | Islamic Finance | Scoop.it

The African Export-Import Bank(Afreximbank) has raised around $260 million via three sharia-compliant facilities to support small- and medium-sized businesses in the region,  as African markets gradually open to Islamic finance.

KM@INCEIF's insight:
Cairo-based Afreximbank to use sharia-compliant facilities to provide sharia-compliant financing to small- and medium-sized enterprises across its member countries. Read more here: http://sco.lt/7Mu5pJ
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Islamic finance is becoming so attractive that even non-Muslims want in

Islamic finance is becoming so attractive that even non-Muslims want in | Islamic Finance | Scoop.it
More governments and companies see Islamic finance as a stable funding alternative to the conventional banking system, experts said.
KM@INCEIF's insight:
According to Dealogic data, issuance of Islamic debt by non-Muslim countries is set to climb due to perception of more tranquil market conditions and an improving regulatory backdrop. Read more here: http://sco.lt/5PHofZ
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A bond dispute threatens the future of Islamic finance

A bond dispute threatens the future of Islamic finance | Islamic Finance | Scoop.it
STOCKMARKETS in the Gulf do not observe Christian holidays, but still had a generally quiet day on December 25th. Shares in Dana Gas, an exploration business listed in Abu Dhabi, however, did make some noise, leaping by 13.2% on Christmas Day, to complete a buoyant six months for the stock (see chart).
KM@INCEIF's insight:
Overall demand for sukuk remains strong, but the appetite for non-rated or sub-investment-grade issuers in emerging markets could weaken in reaction to the Dana case. Read more here: http://sco.lt/5n3zrV
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Accounting and Auditing Organization for Islamic Financial Institutions

Accounting and Auditing Organization for Islamic Financial Institutions | Islamic Finance | Scoop.it
At the headquarters of the Saudi-British Bank (SABB) in Riyadh, an official signing ceremony has been held to inaugurate an agreement with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) whereby the Arabic and English online versions of AAOIFI’s Shari’ah Standards will be exclusively sponsored by SABB for two years. The content of Shari’ah standards so far issued, in both languages, will be accessible and downloadable for personal use through AAOIFI’s website and social media portals. This will include any yet to-be issued, reviewed or updated Shari’ah standards , in both languages, up to 1 January 2020.
KM@INCEIF's insight:
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), sponsored by Saudi-British Bank (SABB) has made available its Shari'ah Standards online, accessible and downloadable for personal use. Read more here: http://sco.lt/71ZUZt
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VBI to take Islamic finance to next level of growth

VBI to take Islamic finance to next level of growth | Islamic Finance | Scoop.it
MALAYSIA is counting on a new approach — value-based intermediation (VBI) — to take its Islamic finance industry to the next level of growth, which should result in some interesting new products, such as rent-to-own (RTO) home schemes, coming from Islamic banks.
KM@INCEIF's insight:
VBI - value-based intermediation is the game changer to propel the Islamic finance industry to the next level. Read more here: http://sco.lt/55Vy2j
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