News & Update
Submit Press ReleaseIslamic Finance Standard-Setting Bodies IFSB and AAOIFI Join Forces to Strengthen the Development and Resilience of the Islamic Financial Services Industry
23 October 2018, Manama, Kingdom of Bahrain; Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB), represented by Dr. Bello Lawal Danbatta, Secretary-General, and the Accounting and Auditing Organization...
National Bank of Bahrain weighs buying Bahrain Islamic Bank's issued shares
The National Bank of Bahrain, a majority government-owned lender, is considering making a voluntary offer for issued shares of Bahrain Islamic Bank, a tie-up that could create a lender with...
IRTI, Bank Indonesia, Indonesia Waqf Board jointly launch principles of managing Islamic endowments
Islamic endowments are a significant component of Islamic social finance, which has attracted attention of development partners as a tool for harnessing resources to address poverty, promote economic inclusion, and...
UAE Eager to Become World's Largest Islamic Fintech Hub
The UAE is the fourth-largest hub globally for Islamic fintech with a total of 12 startups operating in this space. But the country's keen focus on startups and technologies will...
Bahrain Fintech Bay launches Islamic finance centre
MANAMA - Bahrain FinTech Bay (BFB) has launched the Global Islamic & Sustainable FinTech Center (GISFC) with local, regional and international members aiming to bolster the use of fintech to...
Maalem Financing raises SAR 100 million in debut Sukuk
Saudi based Maalem Financing has raised SAR 100 million from a debut sale of Sukuk, reported Reuters. John Sandwick, a member of Maalem's Board of Directors, said that the three-year unsubordinated...
Affin Islamic issues RM300m AT1 sukuk wakalah
KUALA LUMPUR (Oct 18): Affin Islamic Bank Bhd, a wholly-owned subsidiary of Affin Bank Bhd, has issued an RM300 million additional tier one (AT1) sukuk wakalah. In a filing with...
Kerajaan guna wakaf bantu B40
SERDANG: Kerajaan akan memanfaatkan sepenuhnya sistem wakaf sebagai instrumen dalam membela golongan 40 peratus berpendapatan terbawah atau B40. Menteri di Jabatan Perdana Menteri, Datuk Dr Mujahid Yusof, berkata antara...
Tunisia Uses Zakat to Fund Social Interventions
Tunisian Assembly called Zakat science, Tuesday, to add a new chapter to the financial Bill for the year 2019. The event provides a special account for ‘ box and Zakat...
Smokers not eligible for zakat
ZAKAT should be given to the poor and needy, regardless who they are. Smokers, though eligible as zakat receivers, should not get zakat since they can afford to buy cigarettes....
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