News & Update

Islamic finance sector could lose growth momentum next year

16 September, 2017

The Islamic finance industry will expand this year but lower oil prices and a slower economic growth could force the shariah-compliant financial sector, a key area marked for growth by financial hubs...

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Raqaba (Kuwait) & ISRA (Malaysia) Awarded the Revamping Project for AAOIFI's CSAA Qualification

15 September, 2017

AAOIFI Launches Revamping Project for its CSAA Qualification   The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) today announced the commencement of the first phase of the revamping...

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Alliance Islamic Bank proposes sukuk programme of up to RM180m

14 September, 2017

PETALING JAYA: Alliance Financial Group Bhd’s (AFG) indirect wholly-owned subsidiary Alliance Islamic Bank Bhd has proposed a subordinated sukuk murabahah programme of up to RM180 million for the issuance of subordinated...

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PNB gets ‘permissible’ nod from all religious state committees

14 September, 2017

Permodalan Nasional Bhd’s (PNB) “harus” (permissible) status is now approved by all religious state committees, following a recent edict issued by the Penang state mufti’s office. Group chairman Tan Sri Abdul...

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Malaysia to set up professional certifications for Islamic finance

13 September, 2017

KUALA LUMPUR -- Malaysia will introduce two programs to certify professional qualifications in Islamic finance, a central bank official said Tuesday. The programs, the first of their kind in the...

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4th Annual Meeting of the Global Islamic Finance and Investment Group‎

13 September, 2017

The annual meeting is a key part of the UK’s commitment to support the development of Islamic finance globally. Senior policy makers from around the world met in London yesterday (12...

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Oman Islamic finance set for growth despite banking downgrade

12 September, 2017

When banking executives gathered at the First Salalah International Forum on Islamic Finance in Oman’s southern beach resort town at the end of last month, everybody was upbeat about the...

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City urges Government to prioritise Islamic finance ahead of possible Brexit boom

11 September, 2017

The City's top lobby group is urging the Government to make sure any laws introduced post-Brexit do not dent demand for Islamic finance as enquiries from banks to set up Shariah-compliant services soar. ...

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MARC bags Best Islamic Rating Agency Award at Global Islamic Finance Awards

11 September, 2017

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) was named Best Islamic Rating Agency Award at the seventh Global Islamic Finance Awards (GIFA). The annual award recognises and celebrates the contributions...

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Bahrain tightens Islamic finance rules with mandatory external audit

10 September, 2017

DUBAI, Sept 10 (Reuters) - Bahrain is tightening its rules for Islamic banks by requiring all of them to undergo independent, external audits to certify they are following Muslim laws...

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