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Blockchain platform-as-a-service for Islamic finance launched

11 Jul 2018 14:50 Blockchain experts ArabianChain Technology and Curiositas will offer blockchain-based smart contracts and legal automation for Islamic finance products. The 'Wethaq' platform is targeting Islamic capital markets, acting as a platform-as-a-service...

#Saudi securities regulator awards first two #fintech licences

11 Jul 2018 14:38 Saudi Arabia's securities regulator approved its first two financial technology licences on Tuesday. The Capital Market Authority (CMA) approved licences allowing Manafa Capital and Scopeer to offer crowdfunding investment services on a trial basi...

RHB Bank #Singapore seals world's largest Islamic hotel financing deal

11 Jul 2018 14:31 RHB Bank's Singapore branch completed the world’s largest Islamic bilateral hotel financing deal with the Royal Group, for a five-star luxury hotel valued at S$300mil (RM888.72mil). RHB Bank explained the rarity value of this deal was that hospita...

A new term is born: Shariah #fintech, and it has quite some potential

11 Jul 2018 14:22 #Indonesia’s Deputy Finance Minister Mardiasmo said at the third Annual Islamic Finance Conference that fintech will play an important role in Islamic finance. Shariah fintech is a new buzzword to describe the venture of financial technology into...

$3 trillion sovereign wealth funds agree framework for vetting asset managers climate credentials

10 Jul 2018 16:26 Sovereign wealth funds (SWF) from Norway, New Zealand and the Middle East have drawn up a framework to better target their collective efforts on climate change. The agreed principles advocate integrating climate considerations into their investmen...

Will Islamic bonds help revive #Egypt's economy?

10 Jul 2018 16:21 The Egyptian government plans to issue dollar-dominated and euro-dominated sukuk over the next fiscal year. Finance Minister Mohamed Maait made the announcement, expecting that the issuance of the Sharia-compliant bonds would attract huge demand....

Why #Malaysian bonds are set to attract investors despite emerging-market jitters

10 Jul 2018 16:11 With the improving quality of issuances, Malaysia is set to attract more investments into its growing bond market, say panellists at The Asset Malaysia Issuers and Investors Leaders Dialogue in Kuala Lumpur. Source:  https://www.theasset.com/...

#Maroc : Vers le lancement du premier #sukuk souverain

09 Jul 2018 16:40 Le royaume chérifien se prépare à lancer son premier sukuk pour un montant de 105 millions de dollars. Le ministre des Finances, Mohamed Boussaïd s’est voulu clair et rassurant indiquant notamment que le Maroc émette son premier sukuk souverain da...

Banks want 'costly' Islamic banking regulations adjusted

09 Jul 2018 16:32 Banks in Uganda have petitioned the central bank to review key regulations in Islamic banking to make it less costly for the banks. According to Patrick Mweheire, the chairman of Uganda Bankers' Association (UBA), the current regulation requires t...

South America is on radar of Islamic finance

09 Jul 2018 16:25 South America isn’t known to be a popular region for Islamic finance. However, there have been some activities to approach it as a new frontier. The first foray Islamic finance has made on the continent was into Suriname. Last year, the Central Ba...

Why Islamic finance is yet to realise its full potential in #Kenya

03 Jul 2018 16:34 Kenya's Islamic finance industry is over a decade old but is yet to realize its full potential. The uptake of Shariah compliant financial products has been adversely affected by the absence of supportive legal and regulatory infrastructure, lack o...

MOVES-#Britain's largest Islamic bank Al Rayan appoints new COO

03 Jul 2018 16:23 Birmingham-based Al Rayan Bank appointed Paul McMillan as chief operating officer as part of the bank’s expansion efforts. McMillan, a former chief executive of mortgage servicing firm Acenden, takes over the role from the bank’s previous COO Venk...

#Germany and Islamic Development Bank support Augusta Victoria Hospital in East Jerusalem

03 Jul 2018 16:20 Cancer patients from the Palestinian territories can soon benefit from a new modern diagnosis apparatus, financed by Germany and the Islamic Development Bank. The Augusta Victoria Hospital (AVH) in East Jerusalem received a PET/CT scanner which al...

Connecting International Organisations with finance and of course, Islamic finance

03 Jul 2018 12:19 Sustainable Development Goals by the United Nations affect Geneva from two major players. The United Nations family being one of the major locations for it and the well known financial industry:Geographically, on the Right Bank mainly, we have 34...

Global Donors Forum September 10-12 London - early bird registation

01 Jul 2018 14:45 Dear Reader,As you probably know Global Donors Forum 2018 will be held in London from September 10-12 under the theme of "Building Resilient Ecosystems". The Forum will be co-hosted with the Cass Business School and City of London Corpor...

BoG must use Islamic banking to promote financial inclusion – Dubai Chamber

29 Jun 2018 15:57 The Head of Dubai Chamber-Ghana Office, Cyril Darkwa, is encouraging the Bank of Ghana (BoG) to see Islamic banking as a way to promote financial inclusion in the country. Mr. Darkwa stated that this type of finance is being utilised by banks, com...

ACC sues Al-Arafah Islami Bank director

29 Jun 2018 15:49 The Anti-Corruption Commission (ACC) filed a case against an incumbent director of Al-Arafah Islami Bank for allegedly laundering Tk 1.68 crore in Singapore. ACC filed the case against Badiur Rahman, who was also chairman of the bank's board of di...

Executive #education : Dauphine #Tunis se lance dans la finance islamique

29 Jun 2018 15:42 L’Université Dauphine Tunis lance un executive master intitulé "Principes et pratiques de la finance islamique". La première promotion se déroulera de janvier à juillet 2019 pour 420 heures de cours, en anglais, en français et, pour part...

Launch of #Malta Islamic Finance Association

29 Jun 2018 15:33 Malta Islamic Finance Association (MIFA) was officially launched on 26th June 2018 by Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri. The present government headed by Prime Minister Joseph Muscat ful...

East Africa rides the Islamic finance train; #Uganda next to join

29 Jun 2018 15:23 Countries in East Africa are increasingly joining the Islamic finance industry as their Muslim population grows and demand for Shariah-compliant banking and finance rises. In Ethiopia the central bank is planning to develop Islamic finance in orde...

AIFC: Development of Islamic Finance

29 Jun 2018 15:14 Astana International Financial Center (AIFC) aims to be the driver of the Islamic finance development in Kazakhstan. For this, the AIFC is strengthening its capacity building by establishing the Bureau for Continuing Professional Development. AIFC...

AIIB and IsDB Group join forces to grow sustainable infrastructure

29 Jun 2018 15:06 The Asian Infrastructure Investment Bank (AIIB) and the Islamic Development Bank Group (IsDB Group) have signed a Memorandum of Understanding (MOU) to establish a framework for strategic cooperation. The MOU will have a strong focus on sustainable...

New #Egypt Finance Chief Looks to #Sukuk for Funds

29 Jun 2018 15:02 Egypt is considering tapping the international sukuk market in the coming fiscal year, as it looks to diversify funding sources. The issuance would mark a revival of a plan shelved since 2013 when the government issued the law to pave the way for...

Islamic Windows of Coris Bank International pave the way to achieve SDG goal by ensuring financial inclusion and shared prosperity

29 Jun 2018 14:54 Islamic banking is gaining a strong footing in Africa with the launch of Islamic banking windows of Coris Bank International in Mali, Senegal, Benin and Côte d’Ivoire. The official launch of Coris Bank Baraka Senegal took place in the presence of...

#Qatari banks lead Gulf states in real estate lending despite blockade: report

26 Jun 2018 19:57 Qatari banks lead the Gulf Cooperation Council (GCC) members states in real estate lending despite the economic blockade. Qatar disbursed 3.36 billion U.S. dollars of incremental credit in the first quarter of this year. Saudi Arabian banks ranked...

Green finance to fund #Indonesia’s new development projects

26 Jun 2018 19:47 Indonesia, one of the world’s biggest greenhouse gas emitters, is turning to green finance markets to fund new development projects. In February, the Indonesian government issued $1.25 billion as the first sovereign green sukuk in the world. The f...

Islamic Development Bank seeks tie-ups for infrastructure investments

26 Jun 2018 19:32 Islamic Development Bank president Bandar Hajjar said the bank was exploring joint opportunities with other multilateral development banks to invest in India’s infrastructure sector. India plans to invest as much as ?5.97 trillion in creating and...

#Morocco's Islamic 'Participatory' Banks: 71 Agencies and MAD 1.1 Billion in Loans

26 Jun 2018 19:22 Since the launch of Islamic 'participatory' banks in July 2017, more than 71 agencies have joined the non-interest banking program throughout Morocco. Abdellatif Jouahri, the governor of Bank Al Maghrib (Morocco’s central bank), said the participa...

ADIB becomes first bank to join UAEIIC

26 Jun 2018 19:15 Abu Dhabi Islamic Bank (ADIB) has joined the UAE International Investors Council (UAEIIC), making it the first bank in the UAE to become a member in the council. ADIB's acting CEO Khamis Buharoon said his bank was committed to the development of E...

Fitch upgrades Qatar Islamic Bank (QIB) rating to stable and affirmed 'A' rating

26 Jun 2018 19:05 Fitch Ratings has upgraded Qatar Islamic Bank’s (QIB) outlook to 'stable'. The move reflects Fitch's view that Qatar has successfully managed the fallout from last year's rupture of trade, financial and diplomatic relations. Public sector liquidit...

Lotus Halal Fixed Income #Fund Listed On NSE

26 Jun 2018 18:57 Lotus Capital, a full-service, Halal investment management company listed its Lotus Halal Fixed Income Fund on the Nigerian Stock Exchange. The listing event was commemorated with a Closing Gong ceremony. Source:  https://www.proshareng.com/n...

MSM releases new Shari’ah-compliant banks and #Takaful firms

20 Jun 2018 14:55 Muscat Securities Market (MSM) has announced a list of Shari’ah-compliant companies for the first quarter of 2018. Acording to ONA, these firms business and financial behaviour conformed to the requirements of Islamic Shari’ah according to the rul...

Franklin Templeton #funds awarded QFI status in Saudi Arabia

20 Jun 2018 10:46 Franklin Templeton is evaluating opportunities to expand its Shariah business, which grew 32 percent in 2017. Franklin Templeton funds have become Qualified Foreign Investors (QFI) in Saudi Arabia, allowing the funds to invest directly in the king...

#Takaful pays debts to free 400 female inmates

15 Jun 2018 09:56 The Kuwaiti Takaful Society for Prisoners Care assisted in releasing 400 female prisoners after paying their debts. Chairman Dr Musaed Mandani said the Society wanted to help more women, but unfortunately their debt runs in thousands of dinars whi...

Dubai Islamic donates $5.4m to RAK charity

15 Jun 2018 09:52 The Dubai Islamic Bank (DIB) has donated Dh20 million ($5.4 million) in Zakat money to the Ras al-Khaimah Charity Association. The association will distribute the funds to those eligible for Zakat though legitimate channels during the month of Ram...

Growing Islamic finance firms lobby British government for #tax relief

15 Jun 2018 09:41 Islamic finance firms are lobbying the British government for tax reforms, arguing that the treatment of some shariah-compliant structures is hindering their growth. Islamic financial transactions often require multiple title transfers of underlyi...

Early Eid Mubarak

13 Jun 2018 11:48 Dear Reader,An early Eid Mubarak wish for you and your families! May your fasting and good deeds being accepted. Looking forward to meet you in real life again.Last Saturday I was participating with 1’300 other cyclists in the Swiss Alps in the ev...

Deloitte Islamic Finance insights series

12 Jun 2018 14:45 This series of Islamic finance insights discusses social infrastructure trends and the value proposition of an alternative Sharia’- compliant funding model, which resembles sustainable finance, shares guidelines of responsible investment and sound...

Dubai Islamic Bank sees huge demand for capital raising plan

12 Jun 2018 14:37 Dubai Islamic Bank (DIB) has announced a successful closing to its capital raising programme. The issuance of 1.6 billion additional shares at price of AED3.11 per share was announced in April with the aim to boost the core capital of the bank by...

Abu Dhabi Islamic Bank Funds $32.2 Million Deal Of A #UK Property

12 Jun 2018 14:30 Abu Dhabi Islamic Bank (ADIB) UK, has arranged a Sharia’a-compliant transaction to finance the acquisition of Lateral House, located in Leeds, UK. The deal involves a sum of $32.2 million on behalf of an Abu Dhabi-based private banking client. Ear...

#Morocco to issue first sovereign Islamic bond worth 1 bln dirhams

08 Jun 2018 13:36 Morocco is preparing to issue its first sovereign sukuk worth 1 billion dirhams ($105 million). According to Finance Minister Mohamed Boussaid, the legal framework is now prepared and issuance is expected in the coming weeks. Earlier, the cabinet...

Opinion: Why there's no better time for GCC's #fintech revolution

08 Jun 2018 13:26 As financial technologies continue to develop, one region in particular stands to benefit: the Gulf. This isn’t a revolution that is far off, it is happening today. For the countries of the GCC, fintech couldn’t arrive at a better time. The countr...

UNHCR calls on Muslims to aid refugee families through #Zakat contributions

08 Jun 2018 13:16 UNHCR, the UN's Refugee Agency, is counting on the generosity of Muslims to allocate their Zakat to refugee families before the end of the Holy Month. UNHCR provides much-needed cash assistance to extremely vulnerable Syrian refugee families witho...

The Islamic Development Bank Launches New Brand for the First Time in its History

08 Jun 2018 13:08 The Islamic Development Bank (IsDB) has been undergoing significant strategic reform in the last year, led by the Bank’s new President, H.E. Dr Bandar Hajjar. The new brand identity maintains the core elements of the IsDB’s heritage while signalli...

Algosaibi signs grant agreement with Ebdaa Bank

08 Jun 2018 12:56 The Algosaibi Holding Group has signed a grant agreement with Ebdaa Bank. This grant of BD100,000 ($263,000) will enhance the bank’s financial solvency and increase its ability to expand borrowers list which currently includes more than 2,500 borr...

Fitch: #UAE Reforms Aid #Sukuk Market; Implementation Still Key

08 Jun 2018 12:46 The UAE's Securities and Commodities Authority (SCA) said that issuers of Islamic securities should improve disclosure. Issuers should specify how transaction resources and revenues would be treated if a security were deemed no longer compatible w...

Lombard Odier launches Shari'ah-compliant #investment offering

07 Jun 2018 15:15 Lombard Odier has launched a full suite of Shari'ah-compliant investment solutions. Arnaud Leclercq, Limited Partner at Lombard Odier Group said that since the offering began as a bespoke creation for one client, it has grown from a $10 million to...

Exciting weekend- going on fundraising; Swiss vote for full money

06 Jun 2018 15:48 Dear Readers,The coming weekend has two highlights for me:1st: On Saturday I participate the second time at Unicef Cycling for Children. Going with my bike in the Swiss alps and cycle there about 800 elevation meters one lap over 20 km. Looking fo...

Better late than never? #Brunei and its role in the #Fintech revolution

05 Jun 2018 19:43 Singapore battles with Australia and Hong Kong to be the region’s leading Fintech hub. She has moved ahead of her Southeast Asian neighbours, including newcomers like Brunei. Brunei launched its Fintech office in 2017 and at the same time put in p...

#Malaysia to retain position as world's premier #sukuk issuer

05 Jun 2018 19:28 Malaysia will remain the market leader in global sukuk issuance despite recent delays and cancellations of mega projects. CIMB Islamic Bank CEO Rafe Haneef said the delays of some mega projects would have some impact sukuk deals, but it is still b...

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Piero della Francesca, ‘La città ideale’, Italy XVI century