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Debate sparked between MEPs and philanthropists on Idea of single market philanthropy

17 Ott 2019 18:09 Members of European Parliament, representatives of the European Commission and the European Economic and Social Committee discussed creating a European space for donors and fostering cross-border giving. The debate was entitled 'Single Market for...

International #Sukuk Issuance volumes expected to grow in coming years - Fitch

17 Ott 2019 17:59 According to Fitch Ratings, international sukuk issuance from major Islamic finance markets were almost unchanged in the first nine months of 2019 year-on-year (y-o-y). Sukuk issuance with a maturity of more than 18 months from the Gulf Cooperatio...

Region’s P2P lending platform Beehive funds first SME in #Bahrain

17 Ott 2019 17:52 Beehive, the region’s first regulated peer-to-peer lending platform has funded its first SME in Bahrain. The funding was granted to Bahrain-based Mira Packaging Factory, which manufactures disposable cups in addition to other food packaging soluti...

Aldar Investments' Landmark US$500 million 10-year #Sukuk attracts strong investor demand

17 Ott 2019 17:46 Abu Dhabi-based Aldar Investment Properties issued a fixed rate US dollar-denominated sukuk with a tenor of 10 years for a nominal amount of US $500 million. The sukuk carries a coupon rate of 3.875%, following strong investor demand. The transact...

Examining the case for sharia-compliant alternatives to repos

17 Ott 2019 17:38 Matt Smith explores how sharia-compliant repo-like structures can support liquidity management in Islamic financial markets, and considers the structural, regulatory, and legal factors that need to be addressed. Islamic finance is steadily increas...

Albaraka Turk issues TRL 600 million dual-tranche #Sukuk

14 Ott 2019 14:52 Albaraka Turk Katilim Bankasi has issued TRL 600 million dual-tranche Sukuk through its subsidiary Bereket Varl?k Kiralama Sirketi. While the targeted total amount of the issuance was TRL 450 million, the total amount reached TRL 600 million. The...

Inspired by the East review: British Museum looks at how Islamic world influenced western art

14 Ott 2019 14:46 Over the past 15 years the British Museum has played a valuable educative role in Middle Eastern culture. It has shown us the legendary Babylon, introduced us to Persia’s great potentate, Shah Abbas, opened up the imperial court of Ashurbanipal, t...

PTI govt decides to promote Islamic banking in #Pakistan

07 Ott 2019 11:02 The federal government of Pakistan has decided to initiate a comprehensive plan for the promotion of Islamic banking in the country. The National Assembly Standing Committee on Finance chaired by Asad Umar announced that the State Bank of Pakistan...

MICROFINANCE PAPER WRAP-UP: “Analysis of the Strategy of #Microfinance for Financial Inclusion of Refugees,” published by the European Microfina...

03 Ott 2019 09:21 Turkey is host to an estimated 4 million refugees, more than are living in any other country. This paper assesses “the feasibility of microfinance as an appropriate strategy for the financial inclusion of refugees in Turkey.” The authors identify...

The Use Of Cayman Islands SPVs In Shariah Compliant Aircraft Financing

30 Set 2019 17:00 Islamic finance has grown significantly over the past few years into an estimated US$2.4 trillion industry. While the use of Shariah compliant financing for the acquisition of aircraft is not a new development, aircraft leasing firms and operators...

MICROCAPITAL BRIEF: The Philippines Passes Law to Encourage Islamic Finance

25 Set 2019 23:17 President Rodrigo Duterte of the Philippines recently signed a law mandating Bangko Sentral ng Pilipinas (BSP), the nation’s central bank, to provide for the regulation and supervision of Islamic banks. An Interagency Working Group on Islamic Bank...

Al-Nahedh: KFH Has a Proven Track Record in Digital Transformation

25 Set 2019 23:13 Kuwait: Group Chief Executive Officer at Kuwait Finance House(KFH), Mazin Saad Al-Nahedh said that the banking and financial industry is undergoing a process of digital transformation where many processes – often transactional – are being fully au...

Qatar Financial Center Expands Number of Licensed Fintech Activities, Releases New Rules and Guidance

25 Set 2019 23:11 The Qatar Financial Centre (QFC) has expanded the number Fintech-related activities that will be awarded licenses and the agency plans to extend support to an increasing number of financial services firms through the QFC platform, according to a r...

Steady uptrend for Islamic finance in Pakistan: SBP

25 Set 2019 23:05 The Islamic banking and finance sector in Pakistan continues to be on an upward trajectory, with assets, deposits and the number of branches of Islamic banks all showing solid growth. According to the latest Islamic Banking Bulletin issued by the...

Islamic fintech pioneers test creative ways to engage consumers

25 Set 2019 23:01 Many Muslims’ reliance on community offers opportunities including halal robo-advice. Source:  https://www.ft.com/content/67c5702c-8def-11e9-b8cb-26a9caa9d67b  

Mo Ibrahim Foundation to launch first ‘African Governance Report’ in 2019

23 Set 2019 14:40 The Mo Ibrahim Foundation has announce the launch of the first comprehensive African Governance Report. Based on IIAG data, the report will focus on: Governance and Africa’s implementation of the AU’s Agenda 2063 and the UN 2030 Agenda for Sustain...

4 types of data necessary for outcome-based financing

20 Set 2019 14:44 The U.N. General Assembly is underway this week, and the global development community has descended upon New York en masse. Impact bonds are just one example of outcome-based financing, where private investors provide upfront capital, repaid condi...

KFH-Turkey... Robust Financial Position, Very High Liquidity Ratios

20 Set 2019 14:36 Group Chief Executive Officer at Kuwait Finance House(KFH), Mazin Saad Al-Nahedh, emphasized that KFH-Turkey enjoys robust financial position and very strong liquidity ratios as per the regulatory authority’s requirements in Turkey and Kuwait, not...

Alwaleed Philanthropies invests $5 million to mitigate disease in impoverished cities around the world

20 Set 2019 14:30 Alwaleed Philanthropies has made a new $5 million investment, in their partnership with Gavi, the Vaccine Alliance, in a proposed commitment to further prevent the spread of disease in low-income urban areas in which additional funds are proposed...

Here’s why regulators are so worried about Facebook’s digital currency

20 Set 2019 14:23 Policymakers around the world have upped the pressure on libra, the digital currency being introduced by Facebook, amid concerns it could heavily disrupt the global financial system. It appears to be a running theme from a number of regulators and...

Al Ghurair Foundation announce grantees of £5.5 million Refugee Education Fund

19 Set 2019 13:36 The Abdul Aziz Al Ghurair Refugee Education Fund announced its grantees for their second round of funding, following the end of the inaugural round in 2018. The fund aims to support 10,000 students through secondary level and vocational education....

Islamic finance in Africa to grow as #sukuk issuance strengthens- Moody’s

17 Set 2019 20:10 According to Moody’s Investors Service, Africa’s Islamic banks will continue to perform well and African sukuk issuance will keep expanding steadily. In October and December last year, the governments of Morocco and Nigeria issued $105 million and...

Gulf Bonds Go From Haven to Hazard as Saudi Strikes Stun Market

17 Set 2019 20:02 Money managers poured into the Gulf region till Saturday’s unprecedented attack on Saudi Arabia’s key oil facilities. That drove record gains for bonds in August as they sought refuge in securities boasting an average credit score of A+ amid globa...

Assets under management in GCC to grow steadily from $260bn in 2018, Moody's says

17 Set 2019 19:55 The asset management industry in the Arabian Gulf is set to grow, as regional governments overhaul their hydrocarbon-dependent economies and ease regulations. According to Moody’s Investors Service, investment managers in the six-member economic b...

Boards of Kuwait Finance House and Ahli United Bank agree terms of possible #merger

16 Set 2019 15:51 The boards of Kuwait Finance House and Ahli United Bank agreed on a share swap ratio. AUB said its board approved a final exchange ratio between the two lenders of one KFH share for every 2.325581 AUB shares. A final decision on the deal is subjec...

CBK amends guidelines of corporate governance in Kuwaiti banks

16 Set 2019 14:29 The Central Bank of Kuwait (CBK) has amended governance regulations for Kuwaiti banks, allowing them to add independent members to their boards of directors and subcommittees. The new regulations define independent board members and the conditions...

Islamic groups ‘call upon all Muslims’ to divest from oil and gas

13 Set 2019 16:17 The Islamic Foundation for Environmental and Ecological Sciences, the Mosques and Imams National Advisory Board and the Bahu Trust released a statement calling on Muslims to pull investment from the oil and gas sector. The three organisations said...

Istanbul to host refugee economic inclusion conference

11 Set 2019 14:53 Istanbul is hosting a two-day conference to discuss the economic inclusion of young refugees in their host communities. The conference is set to bring together more than 150 stakeholders from the MENA region, policymakers, international and nation...

The Musée du Louvre, Paris, opens new and expanded spaces for exploring Islamic Arts supported by Alwaleed Philanthropies

11 Set 2019 14:47 The Musée du Louvre officially opened new and expanded spaces to explore Islamic art with the support of Alwaleed Philanthropies. The new exhibition space offers visitors an immersive introduction to Islamic art. The center showcases a diverse ran...

Dubai's Emaar Properties sells $500 million 10-year #sukuk

11 Set 2019 14:37 Dubai's Emaar Properties is set to raise $500 million from the sale of sukuk. The transaction has received orders of nearly $2.5 billion, including $300 million of interest from the banks arranging the deal. The deal is part of a $2 billion debt...

#Egypt mulls around $7 billion international bond issuance

10 Set 2019 15:15 Egypt will approach investment banks soon to advise on a planned international bond issuance to raise between $3 billion and $7 billion by June 2020. The new offering could include Egypt’s first Panda, Samurai, Sukuk and green bonds as well as eur...

DIFC FinTech Hive receives huge response from global participants

09 Set 2019 15:21 Dubai International Financial Centre’s FinTech Hive has announced the commencement of the 2019 edition of its accelerator programme. The third edition of the programme received an overwhelming response of over 425 applications from across the worl...

BML opens new Islamic Banking headquarters

09 Set 2019 15:11 Bank of Maldives (BML) inaugurated the new headquarters of its Islamic Banking arm in the capital city of Male. The facility will provide counter services for transactions, with a range of financial services available for both individuals and busi...

#Turkey's Takasbank reveals blockchain platform to transfer gold

09 Set 2019 15:07 Turkey’s Takasbank launched its blockchain-based electronic platform for trading gold called BiGA. The project aims to enable people to transfer physical gold stored at the Borsa Istanbul Stock Exchange via digitized gold units on a blockchain. Al...

Islamic finance contracts estimated to reach $2.5trn

09 Set 2019 14:59 The Qatar International Center for Conciliation and Arbitration (QICCA) has participated in the 7th East Africa International Arbitration Conference (EAIAC) held on 29 - 30 August 2019 in Nairobi. As QICCA’s Board Member, Sheikh Thani bin Ali bin...

QFC joins Islamic Financial Services Board

09 Set 2019 14:46 The Qatar Financial Centre (QFC) has been admitted to the international standard-setting organisation, Islamic Financial Services Board (IFSB), as an Associate Member. As an Associate Member, the QFC can participate in the IFSB General Assembly, r...

Accion Venture Lab launches $23M inclusive fintech startup #fund

06 Set 2019 16:18 Accion, a non profit that supports microfinance institutions globally, has announced that its Accion Venture Lab is adding $33 million to its initial capital pool. Accion starts with the launch of a new $23 million fund, and an additional, separat...

Jibrel to launch first globally regulated blockchain-powered private financing platform

06 Set 2019 16:13 Switzerland-based fintech company Jibrel Network announced the launch of Jibrel.com after its recent acceptance into the new ADGM (Abu Dhabi Global Market) RegLab cohort in the UAE. Jibrel.com claims to be the first fully regulated blockchain-powe...

Alwaleed Philanthropies invests $5m in global fight for vaccines

03 Set 2019 16:48 Alwaleed Philanthropies is investing a further $5 million in its partnership with Gavi, the Vaccine Alliance. The foundation will make the investment through Gavi’s INFUSE initiative (Innovation for Uptake, Scale and Equity in Immunization). The g...

Istanbul meet discusses development challenges

03 Set 2019 16:37 The Islamic Development Bank (IsDB), the Islamic Solidarity Fund for Development (ISFD) and the United Nations Development Program (UNDP) have organised a two-day meeting in Istanbul. Several managers from organizer institutions are giving speeche...

Emaar Properties hires banks for 10-year dollar #sukuk deal

03 Set 2019 16:28 Dubai’s Emaar Properties has hired banks to arrange investor meetings ahead of the issuance of 10-year dollar sukuk. Emaar Properties will meet investors in Asia and London starting on Sept 6. Standard Chartered was hired to coordinate the deal. O...

Chevening OCIS/ Abdullah Gül Fellowship applications are now open

02 Set 2019 16:18 The Chevening Oxford Centre for Islamic Studies (OCIS) Fellowships are aimed at mid-career academics or professionals who are dedicated to a more informed understanding of the culture and civilisation of Islam and contemporary Muslim societies. Ch...

Islamic Development Bank hires banks to raise more than $1 bln in #sukuk -sources

02 Set 2019 16:10 The Islamic Development Bank (IsDB) has hired banks to arrange a new issue of U.S. dollar-denominated sukuk, which is expected to be more than $1 billion in size. Hired banks include Emirates NBD, Standard Chartered, Gulf International Bank and HS...

Mena blockchain firm targets Islamic finance

02 Set 2019 16:04 Blockchain firm R3 has partnered with Dubai-based startup Wethaq to bring blockchain technology to the Islamic finance market. According to R3 CEO David Rutter, blockchain is driving an unprecedented period of innovation across capital markets, wi...

Bangladesh Bank Survey: Minimum balance, low income, high cost major barriers to access to finance

02 Set 2019 15:58 According to a Bangladesh Bank survey, the major barriers to accessing finance in the country are minimum balance requirement, low income, staff attitudes, lack of physical access and high cost of products. Other factors like inadequate financial...

Ethereum deemed halal by Muslim scholars, may stimulate ETH demand

30 Ago 2019 09:57 Prominent Muslim scholars and financial advisors released a white paper declaring Ethereum halal. Ethereum’s compliance with Sharia law has been contemplated for some time. Because of most cryptocurrencies are likely securities, the semblance to i...

Duterte signs law regulating Islamic banks in #Philippines

30 Ago 2019 09:48 President Rodrigo Duterte has signed Republic Act (RA) 11439 that allows the establishment of Islamic banks in the Philippines. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said R.A. No. 11439 would unlock the full potential of Is...

Islamic banking law to unlock financing potential, foster inclusive growth —BSP

30 Ago 2019 09:39 The Bangko Sentral ng Pilipinas (BSP) welcomes the enactment of a law putting Islamic banks under its regulation and supervision. Republic Act No. 11439 or "Act Providing for the Regulation and Organization of Islamic Banks" was signed b...

Global #sukuk issuance to equal $130bln in 2019

30 Ago 2019 09:31 According to Moody's Investors Service, the value of global sukuk issuance is expected to increase by 6% to reach $130 billion in 2019. That forecast can be ascribed to the increase in sukuk activity in Saudi Arabia and Malaysia, which manifested...

State Bank issues updated Islamic financing facility

30 Ago 2019 09:25 The State Bank of #Pakistan issued an updated Islamic financing facility for the renewable energy projects. The financing under Islamic Financing Facility for Renewable Energy (IFRE) is now available to the customers under three categories. Under...

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