Author Archives: IMFN
Central Asia pushes Islamic finance in preparation of post-Covid era
Islamic banking in Central Asia, namely in the Commonwealth of Independent States (CIS) with its presently nine member nations, is developing fast and is on the best way to become…
Social Waqf sukuk urged for Islamic finance industry
The Islamic finance industry needs to work out a revenue generation aspect for a long-term socially-driven Waqf sukuk, experts have urged. This was the consensus view in the first Islamic…
Will microfinance survive coronavirus crisis? A lot depends on how funds flow to borrowers
As we near May 31, all eyes are on how wheels of the economy start to turn. One of the sectors hit hard by coronavirus lockdown has been the micro-loan…
Small loans can help farmers … but can also increase wealth gap
PROVIDING small loans to farmers in developing countries who are already struggling with the impact of climate change can significantly improve their livelihoods. But it can also increase the wealth gap with…
SBP raises Rs75bn from Sukuk auction
The State Bank of Pakistan (SBP) has reported that the government raised billion through auction of the five-year Government of Pakistan Ijarah Sukuk on Thursday. The auction target for the…
Dubai Islamic Bank donates AED16 million to Zakat Fund projects
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 17th May, 2020 (WAM) -- The Dubai Islamic Bank donated AED16 million to the Zakat Fund, whose projects this year are being…
Trading in BankIslami’s sukuk begins at PSX
Trading in sukuk certificates of BankIslami Pakistan commenced on Friday at the Pakistan Stock Exchange (PSX) with a striking of the gong. The certificates have a floating expected profit rate…
Islamic Finance and Prospects for Weathering COVID-19
COVID-19 continues to have profound implications for the global economy. All around the world, the lockdown has contributed to rising unemployment, reduced incomes, and increased food insecurity. Private sector workers…
Coronavirus – Ghana: Muslim Community donates 130,000 Cedis to COVID-19 National Trust Fund
The Ghanaian Muslim Community has presented a cheque for 130,000 to the COVID-19 National Trust Fund. The presentation was made by the National Chief Imam, Sheikh Osman Nuhu Sharubutu, who…
Abu Dhabi Islamic Bank Q1 profit declines 55% on low revenues
Abu Dhabi Islamic Bank (Adib) net profit for Q1 2020 fell 55 per cent to million as compared to million in the same period last year due to increase in provisioning…