News & Update
Submit Press ReleaseIslamic finance is gaining a foothold across Africa
Islamic finance is rapidly growing across Africa, with investors, governments, and financial institutions increasingly leveraging its potential for both financing and development. Since 2014, $2.3 billion in sukuk, or Sharia-compliant...
Islamic finance body IILM appoints new acting CEO
(Sept 19): The International Islamic Liquidity Management Corp (IILM) has appointed Umar Oseni as its acting chief executive after the resignation of Abdoul Aziz Ba, the Malaysia-based organisation said on...
Islamic banks face outdated property rules - industry body
Regulators overseeing Islamic banking must revise guidance on real estate exposures to align with the post-financial crisis capital rules of Basel III, a global industry body said on Sunday. The...
Bahraini lender eyes piece of Kenya’s Islamic banking
Bahrain’s third largest Islamic bank Al Baraka Banking Group says it is mulling over expanding operations into Kenya as it seeks to claim a piece of the fast-growing Shariah-compliant banking...
Abu Dhabi Islamic Bank sets initial price guidance for perpetual sukuk
DUBAI, Sept 12 (Reuters) - Abu Dhabi Islamic Bank, the largest sharia-compliant lender in Abu Dhabi, has given an initial price guidance in the region of 7.5 percent for a...
While scholars debate, digital innovations enter Islamic finance stage
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...
Islamic Bank approves US$20m for Guyana power supply upgrade
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...
Islamic Finance: Using blockchain to improve transparency of zakat process
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,...
Islamic Finance: Is cryptocurrency halal?
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...
Deposit insurance for Islamic finance set to get clear framework
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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