News & Update
Submit Press ReleaseIslamic banking profits jump 27.7% in Pakistan
Profits of the Islamic banking industry surged by 27.7% to Rs23bn in 3QCY18, from Rs18bn in same quarter last year, reported State Bank of Pakistan’s Islamic Banking Bulletin issued this...
UK has broadest Islamic finance knowledge base
The UK comes on top of a list of Islamic finance knowledge providers, with 80 institutions providing courses on the matter in the country as per 2017. Malaysia is second...
CIMB says online banking system not hacked
KUALA LUMPUR: CIMB Bank Bhd has assured its customers that its online banking portal, CIMBClicks system remains secure and all customers’ transactions continue to be protected. “The bank would like...
Dubai Investments unit said to hire HSBC, Citigroup for sukuk
Dubai Investments’ property unit hired HSBC Holdings and Citigroup to sell Islamic bonds early next year as it seeks to refinance an existing sukuk, according to people with knowledge of...
IIFM standardisation initiatives to support Islamic business activities
THE 39th meeting of the Board of Directors of the International Islamic Financial Market (IIFM) convened in Bahrain recently. It was attended by representatives from its founding and permanent members...
Standardisation critical for Islamic finance’s success
MANAMA: Bahrain regulators have called for Islamic finance practitioners to push for standardisation in the industry to ensure further growth across the globe. Central Bank of Bahrain (CBB) executive director...
Selangor Zakat Board allocates RM10m for education aid
SHAH ALAM, Dec 16 — The Selangor Tithes Board (LZS) has allocated RM10.1 million for the schooling and tertiary education aid of children of middle-income households next year. LZS chief...
SBP asks Islamic banks to help execute housing plan
KARACHI: The State Bank of Pakistan (SBP) has suggested to the growing Islamic banking industry to partner with the Pakistan Tehreek-e-Insaf (PTI) government in executing its plan of constructing five million...
Historic Sukuk by an SA bank as Islamic finance makes sizeable gains
CAPE TOWN – Durban-based Al Baraka Bank has become the first South African financial institution to issue a Tier 2 Capital Sukuk, a Shariah-compliant investment and attractive alternative to conventional...
Pakistan has better regulatory framework for Islamic Banking
The Islamic Banking Industry of Pakistan in collaboration with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and contribution of Mufti Muhammad Taqi Usmani, launched Urdu version of the...
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