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While scholars debate, digital innovations enter Islamic finance stage

12 September, 2018      46

The rise of Islamic finance startups in recent times is increasingly opening the industry up to innovations, while scholars keep discussing the phenomenon with regards to Shariah compatibility.  On the...

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Islamic Bank approves US$20m for Guyana power supply upgrade

09 September, 2018      49

GEORGETOWN, Guyana — Unreliable power supply woes in Guyana may soon be a thing of the past after the approval by the Islamic Development Bank (IsDB) of a loan of...

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Islamic Finance: Using blockchain to improve transparency of zakat process

06 September, 2018      220

The collection of zakat has been institutionalised in many Muslim countries. The promotion, collection and distribution of zakat are undertaken by the respective religious authorities according to shariah requirements. However,...

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Islamic Finance: Is cryptocurrency halal?

06 September, 2018      81

There has been much debate on the use of cryptocurrencies such as bitcoin and ethereum as a legitimate form of currency and investment in Islam. Shariah law emphasises real economic...

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Deposit insurance for Islamic finance set to get clear framework

04 September, 2018      31

The currently fragmented system of deposit insurance for accounts and other assets held at Islamic banks is now set to get clearly defined standards and guidelines to which the Islamic...

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World’s first ESG sukuk fund another step forward for Malaysia’s responsible finance

19 August, 2018      228

Malaysia’s Shariah-compliant BIMB Investment Management launched the world’s first environmental, social and governance (ESG) sukuk fund on August 1. Reflecting a growing responsible finance sector in Malaysia, the company’s CEO told...

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ADIB’s Shareholders approve ADIB’s capital proposal to support growth

19 August, 2018      99

Abu Dhabi, August 19, 2018: Shareholders of Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, have approved proposal for a rights issue of AED 1 billion, as recommended by...

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Foreign Islamic banks may soon be able to set up shop in the Philippines

16 August, 2018      96

A bill seeking to organise such lenders has passed committee level. Islamic banking is gaining momentum in the Philippines after a bill seeking to organise and regulate Islamic banks has made it...

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Gulf states raise over $30bln of bonds in H1 2018

16 August, 2018      67

The six governments of the Gulf Cooperation Council (GCC) are likely to lean more heavily on debt capital markets this year than last, according to a new report by Fisch Asset...

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AAOIFI adoption set to standardise UAE Islamic finance

16 August, 2018      74

The adoption of Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) Shariah standards by the United Arab Emirates' Islamic finance industry is a “landmark” development that will lead to...

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