Though it has looked like last year’s recession scare was a false alarm, the global Sukuk market is close to sending another signal about a slump. The noxious mix of the new coronavirus, low oil prices, and waning investor appetite are expected to hurt Sukuk issuance in 2020 from core Islamic finance markets that include …
Finance
Islamic Finance Gaining Ground In China
Islamic Finance has become a potential growth sector in China after the COVID-19 pandemic is over. This year’s GDP growth of China, the world’s second-largest economy and a major manufacturing hub are forecast to reach a 44-year low of just 2.5%, Chinese policymakers are planning for a rebound in various sectors of the economy after …
Halal Angels Network Aims To Tap $5trn
The World’s First Halal Angels Network was launched to promote innovation, entrepreneurship & startups to tap $5 trillion, as the Halal consumer market is on track to grow to $9.71 trillion by 2025. It was launched during the Covid-19 pandemic to help investors, businesses, entrepreneurs & startups overcome these challenging times. It is founded by …
PSE Eases Rules On Islamic Finance Industry
In a bid to grow the Islamic finance industry in the Philippines, the Philippine Stock Exchange, Inc. (PSE) is adjusting its guidelines in screening companies’ compliance with Islamic principles of finance, removing some previously imposed restrictions. The PSE released an April 20 memorandum in line with the amended Shari’ah Rulebook. The new guidelines immediately took …
Oman Arab Bank To Merge With Alizz Islamic Bank
Oman Arab Bank and Alizz Islamic Bank are planning to merge after securing regulatory approval from the Central Bank of Oman. The deal will further strengthen the Islamic finance industry in the Gulf region. Oman Arab Bank is jointly owned by Ominvest (51 percent) and the Arab Bank Group (49 percent). The bank agreed on …
Stock Markets in Asia Surge, Even as China’s G.D.P. Falls
Asian markets rallied on Friday. Cathay Pacific Airways, Hong Kong’s flag carrier, said that it had laid off nearly 300 employees in the United States. Asian markets surge on signs of overcoming the pandemic. Investors in Asia on Friday found a reason to cheer despite a disastrous economic report from China, sending shares higher and …
Stock Markets in Asia Surge, Even as China’s G.D.P. FallsRead More
Turkey Enables Sovereign Fund To Support Economy
Turkey allowed its sovereign wealth fund to take over private companies in distress as part of a series of economic measures to help the Middle East’s largest economy survive the coronavirus pandemic. The country’s parliament voted Thursday to enable the fund, known by its Turkish initials TVF, to inject cash or acquire controlling stakes in …
ITFC Gives $850 Million To OIC Members Hardest Hit By COVID-19
The International Islamic Trade Finance Corporation (ITFC) plans to give $850 million to OIC member countries hardest hit by COVID-19 pandemic. Mr. Hani Salem Sonbol, the CEOF ITFC announced the measures to mitigate the sufferings these hardest-hit OIC member countries economies. “As we assess how COVID-19 affects the work we do and the impact on …
ITFC Gives $850 Million To OIC Members Hardest Hit By COVID-19Read More
ADIB Becomes First Islamic Bank To Use Blockchain For Trade Finance Transactions
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution in the United Arab Emirates, has become the first Islamic bank to successfully execute trade finance distribution transactions using Blockchain technology, it said. The cross-border transactions, which were completed with multiple based banks were made possible through ADIB’s partnership with TradeAssets, a trade finance e-marketplace …
ADIB Becomes First Islamic Bank To Use Blockchain For Trade Finance TransactionsRead More
Islamic Fintech Industry Embracing To Serve Customers
Fintech industry is booming. It is fast overtaking traditional financial methods to deliver financial services to consumers, investors, and the like. The Islamic Fintech industry is no exception. Many IT and traditional financial institutions have jumped on the fintech bandwagon to grab an ever-expanding share of the Islamic Finance industry globally. The following article discusses …
Islamic Fintech Industry Embracing To Serve CustomersRead More
Islamic Finance Strengthening Its Roots In Canada
Islamic Finance strengthening its roots In Canada. That is the key phrase we got from the article published in The Globe and Mail. Canada is a multicultural society. Bank of Canada and other government bodies are already recognizing the importance of strengthening their finance industry by establishing a mortgage-backed security market and taking other regulatory …
Islamic Finance To Expand In 2020 As Demand For Shariah-Compliant Products Grows
Islamic finance is poised to expand in 2020 and beyond, helped by the growing use of Shariah-compliant products in the GCC region and Malaysia, according to a new report from Moody’s Investors Service. “We expect Sukuk issuance to remain stable at around $180 billion (Dh661bn) this year, and the takaful insurance market will see steady …
Islamic Finance To Expand In 2020 As Demand For Shariah-Compliant Products GrowsRead More
