News & Update
Submit Press ReleaseTakaful Malaysia 3Q net profit leaps 73% on higher net wakalah fee income
KUALA LUMPUR (Oct 25): Syarikat Takaful Malaysia Keluarga Bhd has posted a 73% jump in net profit to RM83.96 million or 10.19 sen per share for its third quarter ended...
Bank Muamalat manages more than RM20m in waqf fund
KUALA LUMPUR: Bank Muamalat Malaysia Bhd has managed more than RM20 million of waqf fund to-date under its MyWakaf initiative launched last year. Chief Executive Officer Datuk Mohd Redza Shah...
Oman sells $1.5 billion sukuk as Khashoggi crisis raises funding costs
DUBAI, Oct 24 (Reuters) - Oman sold $1.5 billion in sukuk, or Islamic bonds, on Wednesday but the generous investor returns it had to offer showed that the crisis over...
Islamic finance’s growing impetus in Africa
Moody’s has identified 18 African countries that have the greatest potential for growth in sukuk issuance and Islamic banking. Over the last five years, Islamic finance has seen massive expansion...
ISLAMIC INVESTMENT PLATFORM BAGS £6M FOR EXPANSION
Halal FinTech platform Wahed Invest eyes global expansion after funding takes company valuation to over £75m. Wahed Invest, an online investment platform compliant with Islamic law, has raised an additional £6...
Singapore is giving it another try to embrace Islamic finance growth
The Southeast Asian financial hub of Singapore, where Islamic finance so far had a comparatively weak standing, is now seeking to play its cards with the launch of a new...
Islamic 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...
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