News & Update

Game-changer for global Islamic finance

05 June, 2018      16

AS a contemporary movement, the global Islamic finance industry is merely 43 years old. After four decades it continues to grow and evolve in size and complexity, with assets under...

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Parliamentary forum on Islamic banking wants regulations amended

31 May, 2018      0

Kampala. Former Finance minister Syda Bumba has asked government to amend the Islamic Banking and Finance Regulations to realign them to the sector needs and new innovations. Speaking at a...

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Islamic finance should keep an eye on the ‘petro yuan’

29 May, 2018      33

China’s recent introduction of yuan-denominated oil futures and the country’s planned move to pay for imported oil in its own currency, yuan, or renminbi, instead of US dollars – replacing...

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Islamic banking system, Jaiz, to begins operations in Ondo

29 May, 2018      19

Jaiz, an Islamic banking system has finalized arrangements to begin operations in Akure, the Ondo state capital.   The Executive Director of the bank, Alhaji Abdul Fatai Amoo disclosed this...

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With IMF nod, industry body IFSB to tighten Islamic finance guidance

29 May, 2018      19

(Reuters) - The Islamic Financial Services Board (IFSB) will expand its guidance for national regulators after the International Monetary Fund (IMF) adopted its standard for Islamic banking, hastening efforts to...

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How IMF plans to regulate and supervise Islamic banks in Nigeria and other countries

28 May, 2018      11

The International Monetary Fund (IMF) Executive Board has endorsed a proposal on the use of the core principles for Islamic Finance Regulation (CPIFR), which were developed by the Islamic Financial...

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IMF to add Islamic finance to market surveillance in 2019

25 May, 2018      19

(Reuters) - The International Monetary Fund will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation in the growing sector. The...

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Trust in Islamic banking rising fast

25 May, 2018      14

Customers’ trust in Islamic banking will increase exponentially once the sector’s assets reach $3.3 trillion by 2021 as predicted, Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Chairman...

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Press Release: IMF Executive Board Adopts Decisions to Formally Recognize the Core Principles for Islamic Finance Regulation (CPIFR) for Banking

24 May, 2018      6

The Executive Board of the International Monetary Fund (IMF) today endorsed a proposal on the use of the Core Principles for Islamic Finance Regulation (CPIFR), which were developed by the...

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Muslims demand Islamic banking

24 May, 2018      16

Islamic banking principles prohibit interest paid on all loans of money and investment in businesses that provide goods or services considered contrary to Islamic principles. KAMAPALA - Members of the...

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