Personal Finance | 20 May 2017 Martin Hesse The way Muslims do business is based on free-market economics, but it provides a far more equitable and sustainable economic model than the dog-eat-dog world of Western capitalism. This was a strong underlying message to come out of a recent conference on Islamic banking […]
By Y-Sing Liau | Updated Jan 6, 2017 The Koran forbids charging interest or paying it. Yet even strictly observant Muslims can participate in modern-day commerce. They use alternative arrangements designed to comply with sharia, or Islamic law. These financial instruments, in which the buyer and the seller typically share […]
November 17, 2016 From GoldCore: A new Sharia Gold Standard set to debut in December could be the next big catalyst to push the yellow metal to new highs. Islamic Gold – Important New Dynamic In Gold Market Next month, 1.6 billion people will likely have a new ‘gold investment standard’ Islamic […]
Professor Rodney Wilson, Centre for Middle Eastern and Islamic Studies, University of Durham Islamic banks often describe themselves as being providers of ethical financial services, but they do not spell out explicitly what is meant by this or its significance. The word ethical is used as a label, and equated […]
What is Takaful? All human activities are subject to risk of loss from unforeseen events. To alleviate this burden to individuals, what we now call insurance has existed since at least 215 BC. This concept has been practiced in various forms for over 1400 years. It originates from the Arabic […]
July 30, 2016 JAKARTA, Indonesia, July 30, 2016 /PRNewswire/ — There has never been a better time for women in Islamic Economies to be entrepreneurs. There are more business opportunities and more openings in the employment market for women today. They are being recognised for their value in contributing to […]
Malaysia Sun (IANS) Tuesday 2nd August, 2016 Jakarta, Aug 2 (IANS) Indonesian President Joko Widodo opened the 12th World Islamic Economic Forum here on Tuesday, urging the Muslim community to use their fundamental powers to tackle global economy. Speaking at the Jakarta Convention Centre, President Widodo said the Muslim […]
July 30, 2016 JAKARTA, Indonesia, July 30, 2016 /PRNewswire/ — There has never been a better time for women in Islamic Economies to be entrepreneurs. There are more business opportunities and more openings in the employment market for women today. They are being recognised for their value in contributing to […]
Ambrose 2nd May 2016 Current Islamic Finance Hubs Lack Clustering Critical Mass Article Overview [hide] 1 Current Islamic Finance Hubs Lack Clustering Critical Mass 1.1 What Islamic Finance Hubs can Learn from London’s Success and Tokyo’s Failure 1.2 Existing Islamic Finance Hubs 1.3 The Key Stages of Development 1.4 Development […]
Submissions for the eight categories of the 2016 award close July 31, 2016 Published: 16:45 May 3, 2016 Staff Report Dubai: Submissions opened on Tuesday for the Islamic Economy Award that will be awarded at the Global Islamic Economy Summit in October, the Dubai Islamic Economy Development Centre said in […]
Mure Dickie in Edinburgh ©Getty The Church of Scotland says it shares many values with Islam Sharia law and Scottish Presbyterian morality may have more in common than previously thought. The Church of Scotland has joined forces with Islamic finance experts to draw up a “practical ethical financial solution” […]
BY Elffie Chew January 27, 2016 It took a Malaysian lender more than 10 years to complete its conversion to a fully-fledged Islamic bank, highlighting the challenge for countries such as Indonesia in their bid to become Shariah funding hubs. Agrobank, a state-owned lender set up in 1969 to provide […]
Sharia banks are not permitted to do business with companies dealing in alcohol, gambling, or prostitution Eleanor Ross Monday 18 January 2016 13 comments BAWAG PSK is trying to appeal to Austria’s 600,000-strong Muslim population Reuters An Austrian bank has announced it will be piloting an Islamic current account in February, the […]
By Humayon Dar Published: January 25, 2016 Need for them to shift from money management to adding broader socio-economic services. PHOTO: FILE 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 […]
by Assia Sabi , December 3, 2015 Islamic banking has the potential to promote financial stability, boost SMEs, and contribute to greater financial inclusion. But the IMF recently stressed on the numerous challenges the industry has to face to unlock these potentials. Islamic finance has experienced a swift expansion: Islamic […]
Will the atrocities in France change the future for Sharia-compliant banking? By Eric Barton 3 December 2015 When Daud Vicary Abdullah stood in front of a packed ballroom at the Global Insurance Symposium in the US city of Des Moines, Iowa, in May, he could feel tension filling the room. […]
Bank Scandals Increase Interest in Islamic Banking October 26, 2015 8:33 AM SINGAPORE—A stream of major bank scandals has increased interest in “ethical finance,” which could benefit the Islamic banking sector. Supporters argue the growing area of Islamic finance is more ethical because banks and businesses must undergo scrutiny to […]