Archives for Islamic Finance
DFIs urged to improve performance
The national economy is at a crossroads due to the Covid19 pandemic. Financial institutions including banks need to improve their working so that their actions support the economy and the…
Islamic Development Bank pledges $60m in aid to Pakistan for polio vaccine
The Islamic Development Bank will provide financing of US$60 million for polio vaccine. This includes US$ 21 million LLF Grant by the Bank. Economic Affairs Division, on behalf of the…
World Bank: Investigate Cambodia’s Micro-Loans
The World Bank Group should investigate alleged coerced land sales and other rights abuses linked to predatory lending and over-indebtedness in the micro-loan sector, Human Rights Watch said today. These…
Islamic finance moved further into mainstream
This year, Islamic finance made much headway in Bangladesh, one of the Muslim-majority nations: three more banks Standard, NRB Global and Jamuna became Shariah-compliant while the Sukuk, a bond structured…
BOP opens Islamic banking branch in Peshawar
The Bank of Punjab Islamic Banking Group has extended its network by inaugurating its 100th Taqwa Islamic banking branch at Nasir Bagh, The branch will facilitate individuals, business community, and…
Islamic Finance After COVID-19
The Islamic finance industry slowed down significantly in 2020 after experiencing a very strong 13% growth rate in ;Islamic financial institutions spent most of the year coping with the dual…
How Gulf countries compare globally for Islamic finance
Bahrain, the UAE and Saudi Arabia have ranked in the world’s top five Islamic finance economies, according to the latest annual Islamic Finance Development Indicator (IFDI). The kingdom, which has…
Global Islamic finance assets set to hit $3.69 trillion by 2024
Global Islamic finance assets are forecast to reach $ trillion by 2024, according to a report released by the Jeddah-based Islamic Development Bank. The Islamic Finance Development Report 2020 was…
Sharia finance – how Islamic products differ from traditional banking in Australia
For most Australians, the world of Islamic finance is a closed book however given that some estimates suggest that the sector has a growth rate of 15-20% and a total value of…
City gate Microfinance Launches Digital Loan App
A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which it said was designed to also cater for loan, savings, funds transfer services, investment, bill payment…