NewsCom
Call for Innovation via Transform Fund 2019
24 May 2019 14:44 The Islamic Development Bank (IsDB) has established a special Fund, known as Science, Technology and Innovation Transform Fund (IsDB-STIF) to support its Member Countries in finding practical solutions to key development challenges related to 6 fo...Islamic Finance Centre opens in #Kazakhstan
23 May 2019 12:49 Qatar's Hamad Bin Khalifa University (HBKU), Al-Farabi Kazakh National University, and Astana International Financial Centre (AIFC) have opened an Islamic Finance Centre (IFC) in Kazakhstan. The opening ceremony was attended by HBKU president Dr A...GCC Banking Sector to Witness Mergers Worth Nearly $1 Trillion
22 May 2019 11:48 The GCC banking sector is undergoing major consolidation phase with 20 banks negotiating mergers and acquisitions with an estimated $1 trillion worth of assets. The UAE leads the pack with highest number of mergers both in terms of value and volum...Ethis Group Comments on Receipt of Islamic Equity #Crowdfunding License in #Malaysia
21 May 2019 10:25 The Securities Commission Malaysia revealed updated regulations as well as the approval of 8 new "Regulated Market Operators" serving the investment crowdfunding market. Best known for its impact investing in Indonesia, Ethis Ventures la...Najib's SRC trial: Interesting use of Islamic banking facilities, inter-posed charitable trusts to break-up cash flows into discrete unconnected pac...
20 May 2019 10:11 Two diagrams published by the Malay Mail illustrate the cash flows relied on by the prosecution to prove the charges against Najib Razak. The diagrams reveal the use of Islamic banking facilities and inter-posed charitable trusts to break-up what...SAMA fines 16 financial institutions for violating principles of responsible finance
20 May 2019 10:02 The Saudi Arabian Monetary Authority (SAMA) has fined 16 financial institutions for violating principles of responsible finance and has instructed them to correct the violations. SAMA stated that the fines were imposed in order to implement princi...At fintech meet, Guan Eng says only Pakatan provides the tolerance needed for innovation to thrive
20 May 2019 09:55 Malaysia's Finance Minister Lim Guan Eng said the country finally gained the tolerance element needed for digital innovation when Pakatan Harapan (PH) became the federal government. In his speech at the Securities Commission Fintech Roundtable 201...Alliance Islamic Bank launches social #crowdfunding platform
20 May 2019 09:46 Alliance Islamic Bank launched its first social crowdfunding platform to create greater socioeconomic impact for the financially disadvantaged. The new platform is named SocioBiz and targets individuals seeking to raise funds to start or expand a...Turkish banks and investors disagree on bad loan talks
16 May 2019 14:33 Turkish lenders disagreed on almost everything with potential investors when they met for the first round of talks about unloading a pile of bad loans. Investors demanded a 30% discount on the face value of the loans and an ownership stake, but th...UNHCR unveils Refugee #Zakat Fund
16 May 2019 10:48 The United Nations Refugee Agency has launched a new global structure that transforms UNHCR’s existing Zakat programme into a global fund. UNHCR unveiled its 'UNHCR Zakat Program: 2019 Launch Report', which shows that global Zakat giving stands at...Goldman Sachs brings forward claim linked to Saudi debt saga
15 May 2019 14:22 Goldman Sachs has bought forward a claim against Bahrain’s TIBC whose default 10 years ago triggered the biggest financial crisis in Saudi Arabia. The Bahraini lender raised money in international markets, transferring the funds to now defaulted S...Malaysia leads global sukuk issuance
15 May 2019 14:14 Malaysia continued to maintain the leadership as the largest issuer of sukuk globally with a total of US$13.9 billion in the first three months of 2019. This means a market share of 35.2% from the overall issuance of US$39.5 billion during the per...The Hajdari Group Unveils Newly Pioneered Sharia-Compliant Investment Strategies Option: 'InvestHalal' Wealth Management for American Muslim Investors
15 May 2019 14:11 The Hajdari Group recently announced the creation of its newest, faith-based financial planning platform: InvestHalal. InvestHalal utilizes a strict code-of-ethics and series of standards established by prestigious global authorities like the Fiqh...Abu Dhabi bank delays instalments on personal financing in Ramadan
13 May 2019 12:50 Abu Dhabi Islamic Bank (ADIB) revealed it would postpone a monthly instalment for its personal finance customers at no extra charge during the holy month of Ramadan. ADIB annually offers flexible payment to customers during Ramadan to meet their i...Moody’s expects strong growth in the Islamic finance sector in 2019
13 May 2019 12:38 Moody’s Investor Services expects strong growth in the Islamic finance sector, reflecting the increasing demand for Shari’ah-compliant financial instruments. The rating agency stated that familiarity as well as understanding of the instrument is i...The #UK can be a world leader in Islamic finance
13 May 2019 12:36 According to Al Rayan Bank CFO Amir Firdaus, Islamic finance is reinforcing the UK’s position as a global financial hub. London is the leading centre for Islamic finance outside the Muslim world, with assets of UK-based institutions that offer Isl...CBK rejects Warba Bank #merger with KMEFIC
09 May 2019 19:04 In February, Kuwait’s Warba Bank announced the purchase of Ahli United Bank (AUB) and its subsidiary to acquire their collective 75.7% stake in Kuwait & Middle East Financial Investment Company (KMEFIC).Warba Bank said that the Central Bank o...QIB launches #Takaful product for low-income workers
09 May 2019 18:57 Qatar Islamic Bank (QIB) announced the launch of its affordable Takaful product for low-income workers called "Family Sheild - WPS". This low cost Takaful product can also be purchased by companies who want to give additional protection...Islamic financing marketplace Alami bags funding led by Singapore-based tryb
07 May 2019 15:03 Indonesian startup Alami has closed an undisclosed pre-seed round led by fintech investor tryb. The company’s peer-to-peer (P2P) platform recently obtained a P2P registration from the country’s Financial Services Authority and is set to soon expan...Global #sukuk market to hit $2.7trln by 2030: Franklin Templeton
07 May 2019 14:57 According to investment management firm Franklin Templeton, the global sukuk market is set to grow at a compound annual rate of around 15% to reach $2.7 trillion by 2030. Global sukuk issuance stood at over $477 billion at the end of last year, bu...S&P: GCC Islamic Banks to Show Resilience in 2019,2020
07 May 2019 14:44 According to S&P Global Ratings, Islamic banks of the Gulf Cooperation Council (GCC) are expected to show resilience over the next two years after weathering tough market conditions in 2018. Last year they expanded slower than conventional pee...Fixed Income: Bite-sized #sukuk with #blockchain
07 May 2019 13:29 According to Matthew Martin, founder of microfinance investment fund Blossom Finance, technology will make sukuk issuance much cheaper and simpler as well as more available to investors and issuers. The potential for blockchain to transform the bo...#UAE's Majid Al Futtaim markets green dollar #sukuk
07 May 2019 13:04 UAE-based shopping mall operator Majid Al Futtaim is set to raise between $500 million and $650 million in green sukuk. The proceeds of the sukuk will back environmentally-friendly projects in areas such as renewable energy and sustainable water m...Sharia-compliant #fintech startup nets funding in round led by Singapore’s Tryb
07 May 2019 12:58 Indonesian sharia-compliant fintech startup Alami secured funding in a pre-seed round led by Singapore-based VC firm Tryb. Alami, which recently obtained a P2P registration from Indonesia’s Financial Services Authority (OJK), operates a platform f...#Jordan Islamic Bank is focusing on inclusivity to drive prosperity in the country
03 May 2019 12:41 Between 2014 and 2017, Jordan has made significant progress in terms of financial inclusion. According to the latest World Bank report, 42.5% of adults in Jordan now have a bank account, a remarkable increase from the 24.6% seen in 2014. Raising t...Inside one of the finest pieces in today's Sotheby’s Arts of the Islamic world #auction
03 May 2019 12:33 In May, Sotheby’s holds its latest Arts of the Islamic World auction. The auction includes a number of rare Qur’ans, including one exemplary fine and rare miniature Qur’an on vellum, estimated to sell at GBP 70,000-90,000. The miniature manuscrip...Abu Dhabi banks ADCB, UNB and Al Hilal complete three-way #merger
03 May 2019 12:26 The Abu Dhabi Commercial Bank (ADCB) has completed its merger with Union National Bank (UNB) and the combined company has acquired Al Hilal Bank to create the third largest financial institution in the UAE. Following the merger with ADCB, UNB has...Who's Talking to Whom as Record #Merger Wave Shakes Up Gulf Banks
03 May 2019 12:21 Bloomberg provides an overview of which lenders are in merger talks and where those conversations are at. Talks are underway in Abu Dhabi for a possible tie-up between Abu Dhabi Islamic Bank with First Abu Dhabi Bank, a merger that would create on...Guide Urges Funders to Support Sustainable Development Goals
03 May 2019 12:15 A new guide from Rockefeller Philanthropy Advisors offers advice for philanthropic funders on how to align their missions and activities with the United Nations' Sustainable Development Goals (SDGs). The publication provides practical advice as we...Islamic artworks go under the hammer at Sotheby’s
30 Apr 2019 16:35 Some of the best examples of artwork from the Islamic world will go under the hammer at Sotheby’s on May 1. The auction includes a portrait of the great Ottoman Sultan, Suleyman the Magnificent, a landmark portrait valued at around 250,000 - 350,0...SC sees good year ahead for #sukuk
30 Apr 2019 16:26 Malaysia could see more Islamic capital market funds raised this year as sukuk activity has picked up in the first quarter of 2019. According to Securities Commission Malaysia (SC) deputy CEO Datuk Zainal Izlan Zainal Abidin, sukuk issuances are p...Experts Urge Nigerians to Embrace Islamic Estate Planning
30 Apr 2019 16:20 At the Islamic Estate Clinic held on April 28, 2019 in Abuja, different speakers highlighted how Nigerians, both Muslims and non-Muslims can benefit from the Islamic Estate Planning system. The event was put together by FBNQuest Trustees, with Man...#UAE aim to become regional Islamic art and culture capital boosted by Jameel Prize’s first exhibition in Dubai
30 Apr 2019 16:12 The UAE’s status as a centre for Islamic art and design was boosted this past week as Jameel Arts Centre opened the Jameel Prize 5 exhibition. First awarded in 2009, the Jameel Prize is a collaboration between London's Victoria & Albert Museum...Islamic finance has prominent role in financial #inclusion, says SC chairman
30 Apr 2019 15:59 According to Securities Commission Malaysia chairman Datuk Syed Zaid Albar, Islamic finance has a prominent role in helping to address unmet needs of the world's Muslim population. He delivered a keynote speech at the SC-World Bank- IOSCO Asia Pac...Dar Al Arkan set to redeem $400m Islamic bond
25 Apr 2019 12:09 Saudi Arabia’s Dar Al Arkan Real Estate Development Company aims to redeem its $400-million sukuk by using internal cash reserves. The sukuk, listed on Irish Stock Exchange and Nasdaq Dubai, is set to mature on May 28, 2019. Over the last decade,...#Saudi Arabia's Al Rajhi Bank to boost mortgage #lending
23 Apr 2019 17:11 Al Rajhi Bank aims to boost mortgage lending as more affordable housing comes on the market. CEO Steve Bertamini said the bank's mortgage book grew 27% year-on-year in 2018 and it is looking for double digit growth for the next two to three years....Top ADCB executives appointed to lead Al Hilal Bank
23 Apr 2019 17:03 Senior executives at Abu Dhabi Commercial Bank (ADCB) were appointed to top leadership positions at Al Hilal Bank, as it prepares to be acquired by ADCB. Alaa Eraiqat was announced on Sunday as the new chairman of Al Hilal Bank, while Amr Al Menha...INTERVIEW: Gulf banking consolidation 'long overdue' - Investcorp's co-CEO
23 Apr 2019 16:58 According to the co-chief executive of Bahrain’s Investcorp, Rishi Kapoor, consolidation in the financial services industry in the region is long overdue. Consolidation in banking would build the scale required to increase investments in financial...Government decides to issue fresh #Sukuk worth Rs 200 billion
23 Apr 2019 16:45 Pakistan's Federal Government has decided to issue fresh Sukuk worth Rs 200 billion, in addition to earlier Sukuk of Rs 200 billion through the same consortium of Islamic banks aimed at reducing circular debt. The consortium comprising Meezan Bank...OPINION-Strategic Compassion: The power of Islamic finance in the service of global good
23 Apr 2019 16:37 The practitioners of Islamic finance are increasingly framing their practices as ethical, socially responsible and conducive to humanity’s wellbeing. Tools like the obligatory zakat and charitable donations generate between $200 billion to $1 tril...Bank Islam continues to focus on affordable housing segment
17 Apr 2019 14:01 Bank Islam Malaysia expects its home financing business model will continue to help the bank to grow and boost its assets. Malaysia’s oldest Islamic lender has been growing organically over the years, despite the crowded market. Bank Islam CEO Moh...Emirates Islamic Bank's net profit surges 97% to Dh411 million
17 Apr 2019 13:49 Emirates Islamic reported a net profit of Dh411 million for the first quarter of 2019, an increase of 97% year-on-year and 54% quarter-on-quarter. Emirates Islamic CEO Salah Mohammed Amin said the bank recorded its highest ever quarterly net profi...FBNQuest Trustees to Host Islamic Estate Planning Clinic
16 Apr 2019 14:46 FBNQuest Trustees is set to host an Islamic Estate Planning Clinic, on the 28th of April, 2019 in Abuja, Nigeria. This forum aims to educate Muslims about the importance of Estate Planning in line with Islamic laws. The Islamic Estate Planning Cli...Financial inclusion of low-income groups a must for economic growth
16 Apr 2019 14:40 Jameel Ahmad, Deputy Governor of State Bank of Pakistan believes that the newly adopted National Financial Inclusion Strategy (NFIS) will contribute significantly to the economic growth. He said the central bank and Pakistan's government have a fi...Bank Alfalah & Ghandhara Industries signed a MoU for Promoting Isuzu D Max Variants
16 Apr 2019 14:28 Pakistan’s Bank Alfalah Islamic has recently signed a Memorandum of Understanding (MoU) with Ghandhara Industries Limited (GIL). Under this MoU, Bank Alfalah Islamic and Ghandhara Industries Limited have agreed on a joint campaign to promote “Isuz...Insurance Sector Projected to Witness Majors Mergers in GCC Soon
15 Apr 2019 15:10 Mergers and acquisitions will inevitably happen in the UAE's overcrowded insurance and Takaful industry. According to Vasilis Katsipis, general manager at AM Best, there are several reasons that hamper local insurers and Takaful firms from consoli...ICD invests $230M in various sectors in #Egypt
15 Apr 2019 14:56 Ayman el Segeny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD) met Sahar Nasr, Egyptian Minister of Investment and International Cooperation. Segeny said that ICD's investment in Egypt reached $230 million, of whic...Growing demand to support Islamic #insurance premium growth
15 Apr 2019 14:41 According to ratings agency Moody’s, the Takaful industry is expected to experience improved premium growth this year supported by growing demand from key regions such as the Gulf Cooperation Council (GCC), Southeast Asia and Africa. Mohammed Ali...Dubai Islamic Bank confirms #merger and #acquisition prospects
15 Apr 2019 14:36 Dubai Islamic Bank is looking at acquisitions among other options as part of its expansion strategy. A potential acquisition of Noor Bank by DIB would create a lender with AED 275 billion in assets if completed. The Investment Corporation of Dubai...PM: Islamic banking players must invest in technologies
15 Apr 2019 14:31 Malaysian Prime Minister Tun Dr Mahathir Mohamad said Islamic banking and finance players must be intensely invested in technologies. He said the application of smart technology has positively disrupted the industry, however, the potential disrupt...-
Agenda 1986 - 2019
List of events held over the years in different jurisdictions across the globe and organized, chaired or attended by ASSAIF's representatives. The attached programmes represent a precious source of information on the players, stakeholders, and issues discussed, and highlight...
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Universities
In the last few decades, both academic institutions and corporate entities have become increasingly involved in conducting and validating research in Islamic Finance and Economics (IFE). As a result, there are now a multitude of sources to disseminate information. Until the...
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Researchers
Research in Islamic Finance & Economics (IFE) can be divided into two main categories – academic and applied research.Academic research, which includes theoretical studies, is by far the more prominent, and is conducted at universities, colleges, and research institutes....
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Training Institutes
Teaching and training are important aspects of the ongoing research. Despite the volume of published research present today, a comprehensive textbook on the subject of Islamic finance has yet to emerge. Until then, universities and colleges offering instruction in this field...
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Press releases distributed to News Agencies and the Public
Highlights on the most important activities carried out by ASSAIF including events, transactions and capacity building around the world
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Italian Dissertations
The pubblication of dissertations and thesis on various aspects of Islamic finance keeps the centuries-old Italian tradition of Islamic studies well alive
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Highlights
Reports, studies and survey of particular relevance highlighted in the front page
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Video Gallery
Some clips occasionally gathered here and there at different venues and clips produced to present products or initiatives
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Photo Gallery
As the old saying goes: "A picture shows at a glance what it takes dozens of pages of a book - or in today's parlance: slides - to expound". In this section, some pics bear testimony to the efforts deployed over the years to bring Islamic finance to different...
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Press Clips and Interviews
This section regroup the articles written by ASSAIF's partners and interviews on different aspects and topics related to the Islamic finance industry
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Publications
This section contains a sample of publications useful for a non-dogmatic understanding of Islamic finance. Furthermore, it lists some titles published with the support of ASSAIF
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Glossary
This on-line glossary of financial, banking and economic terms used by the Islamic Finance Services Industry has been compiled in Italian. The proper understanding of technical terms is crucial for the correct evaluation of the activities and products of the Islamic finance...