Global Halal, Islamic Finance News At Your Fingertips
NAIROBI, KENYA: Although Islamic Banking is at nascent stage in the country, the faith-based lending model is becoming a fast growing trend in the Kenyan financial sector and showing indicators of exponential growth. The concomitant expansion of Islamic finance activities in the region and the huge Muslim population can be largely attributed to reforms in …
How to Attain a Robust Islamic Financial System in Kenya?Read More
JEDDAH: Over the past decade, financial technology — widely referred to as FinTech — has grown primarily due to growing Internet access worldwide and the emergence of smartphones and apps. According to the Ericsson Mobility Report published last year, 70 percent of the world’s population is expected to be using smartphones by 2020. As smart …
Halal Status of Ethanol The word Khamr (alcoholic beverage), fermented fruits, was described in Quran 6 times; Alkhamr refers to the solution, which is produced from fruits or any natural sugar source by anaerobic fermentation and potentially could be used or lead to intoxication. The main ingredient of Alkhamer is ethanol, which is the chemical …
Dubai: Digitization of Islamic banks is a must for the growth of the Islamic finance industry. Although, the industry is quite young, the fintech disruption is already changing the way Islamic banks are spending money on technology to transform the way they do business to attract Internet-savy customers. However, most of these banks are still …
Digitization Of Islamic Banks A Must For The Growth Of Islamic FinanceRead More
Islamic Finance is booming around the globe. Currently, there are around 500 Islamic banks operating in 75 countries around the world. Islamic finance is growing at 10-15% per year with GCC Islamic banks constituting 70% of the global total. In fact, non-Muslim countries are also tapping into the growing Islamic finance market by issuing sukuk …
DUBAI, UNITED ARAB EMIRATES, 26 July 2016 – The second edition of the Innovation 4 Impact Competition will take centre-stage at the Global Islamic Economy Summit 2016 (GIES 2016) to be held under the theme ‘Inspiring Change’, at the Madinat Jumeirah in Dubai, from October 11-12. Islamic digital economy entrepreneurs from around the world will …
Dubai: The past is no guarantee for the future — so we have to prepare ourselves for the unprecedented and the unexpected. Islamic finance needs to be relevant and respond to its external operating environment. There are some paradigms that are shifting before us, which we need to understand and be prepared for as practitioners, …
The word Hijab has gained popularity in the international media lately. It seems to symoblise the Muslim women covering their heads. However, it is not just one form of the head covering Muslim women use to cover their heads. There are some other head coverings as well being used by Muslim women all over the …
Demistifying The Difference Between The Burka, Niqab, Hijab, Other Islamic HeadwearRead More
There is no doubt that Islamic finance is growing around the world – actually sector expert Camille Paldi says it is “booming”, but it needs proper regulatory, reporting and resolution framework and tailored standards to continue its rapid expansion. There are current around 500 Islamic banks operating in 75 countries around the world and Islamic …
London: Islamic banking and finance (IBF) is swiftly growing in countries outside the Organisation of Islamic Cooperation (OIC) block, especially in the United Kingdom that houses six fully-fledged Islamic banks (one retail and five wholesale), making it the most important centre of Islamic finance outside the Muslim world. The global Islamic financial services industry attained …
As more Western companies do business in the Middle East, Islamic finance has become an increasingly important part of the world economy. But Islamic finance follows different rules than conventional Western economies, in keeping with sharia, the Islamic legal system. Demand for sharia-compliant banks is growing rapidly, with Ernst & Young projecting an annual growth …
Islamic Finance: Implications For The Global EconomyRead More
LONDON: Many industry observers assert that all Islamic banking products in essence are replicas of conventional banking products, be they Islamic deposits or financing products based on leasing or trade-based contracts. A replica, however, by its very nature and definition is inferior to the original, and should sell for a significantly lower price. Islamic banking products …
