Archives for Islamic Finance - Page 3
Govt Clarifies Position On Issuance Of Sukuk
Finance Ministry clarified Saturday that Sukuk were Shariah compliant borrowing instruments backed by physical assets, and were structured so as to pay returns on investment as rent instead of interest by utilizing…
SBP wins poll for Best Central Bank for promoting Islamic banking fourth time since 2015
In a poll by Islamic Finance News (IFN), REDmoney Group Malaysia, the State Bank of Pakistan (SBP) was declared the Best Central Bank for promoting Islamic finance. SBP has won the said poll…
Egypt signs $1.1bn agreement with International Islamic Trade Finance Corporation
A worker gesturing for cars to move as others fill up a at a petrol station in Cairo, Egypt on June 29, 2017 January 14, 2021 at 7:00 am Egypt…
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…