Thursday 13 August 2020 \

 

Islamic banking

Saudi Arabia raises $2 billion with new Islamic bonds

Saudi Arabia has raised $2 billion in new sukuk, or Islamic bonds, completing its external funding requirements for 2018.
 
The transaction is the kingdom’s second international sale of sukuk after a $9 billion issue last year.
 
The bond sale was “part of the Ministry of Finance’s commitment to the development of the Shariah-compliant debt capital markets,” the country’s debt management office said in a statement on Thursday.
 
 

Islamic banking assets hit $1.69trn in Q1: IFSB

With the inclusion of new countries’ data, the total assets of the Islamic banking industry grew to $1,699 billion in the first quarter of 2018 (2018Q1) from $1,573 billion in 2017Q1, marking an increase of 8 per cent, said the Islamic Financial Services Board (IFSB).

IFSB has announced the dissemination of country-level data on financial soundness and growth of the Islamic banking systems for Q1 of 2018 from 21 IFSB member jurisdictions.

 

Islamic Finance's 'Scholar Problem': Why Are Shariah Scholars Paid So Much?

By Sophie McBain | Spear's | 13 May 2013

Dollars for Scholars 

Islamic finance could be a fruitful, thoughtful and even moral alternative to Western banking, says Sophie McBain — if it can overcome its scholar problem.

 

Islamic finance: a perspective from India

Source : Deccanherald / 24 Dec 2012

(India) Even as the Reserve Bank of India (RBI) is driving financial inclusion through a combination of conventional and non-conventional approaches, it’s time to take a fresh look at Islamic finance to expedite finance inclusion, especially within the 170 million Indian Muslim community.

 

Islamic finance faces growth challenges

By Jennifer Pak | BBC News | KL | 08 Dec 2012

A steady flow of women wearing hijabs, or Muslim head veils, enter HSBC's Amanah branch in the Malaysian capital of Kuala Lumpur during lunch hour.

It's brisk business for the UK lender, which was one of the first global banks to offer Islamic finance - a field that is slowly starting to rival conventional banking in predominantly Muslim countries such as this one.

Islamic finance is based on gaining profits in a socially responsible manner.

 

Islamic banking influencing North American institutions

By Abdul Hannan Tago | 15 Nov 2012

While Shariah-compliant banking is not widespread in the United States, Islamic financial institutions are making headway in gaining a foothold in North American banks to bring services to customers.

 

How Sharia-compliant is Islamic banking?

By John Foster : Former editor, Islamic Business & Finance magazine | 10 Jul 2012

The Islamic finance industry has often battled with the question: How Islamic is Islamic banking?

 

Identity crisis: Islamic banking - in search of a lost soul

By Humayon Dar | Tribune | London | 4 Jun 2012

There is no doubt that Islamic banking and finance must always fulfil the requirements of Islamic jurisprudence. However, it is increasingly being felt that Islamic banking must go beyond the law and imbue the ethical spirit of Islam to remain relevant to the needs of Muslim communities around the world.

 

Western debt crisis spurs Islamic Finance growth

By Shaheen Pasha/Reuters/Dec. 1/2011

Chicago native Mariam Khan never considered Islamic banking until her husband moved the family to Dubai in 2007. But the 36-year-old housewife is a believer now as the Western debt crisis deepens. Her husband opened a family account with HSBC Amanah, the Islamic arm of international bank HSBC.

 

First Islamic interbank funding rate launched

by Issac John
Source: Khaleej Times Online

DUBAI – A group of Islamic financial institutions has launched the world’s first benchmark for Islamic interbank lending as an alternative to LIBOR, or the London Interbank Offered Rate.

 
 

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