The Omani central bank has established an independent department to handle Islamic banking, it said on Wednesday, in a step expected to help further growth of the country's fledgling sharia-compliant finance industry.
Dubai-based Commercial Bank International (CBI), a leading financial institution in the UAE, has appointed Mamoon Abdel Kader as its new head of Islamic Banking.
Mark Robinson, chief executive officer of CBI said: “We are pl
The UAE is en route to achieve $263 billion of Sharia-compliant assets by 2019, according to audit company EY’s World Islamic Banking Competitiveness (WIBC) report.
The industry was estimated to be worth $127 billion in 2014
While $110 billion worth of sukuk was issued around the world this year, the global sukuk issuance is expected to reach $250 billion by 2020, a report said.
The total global outstanding sukuk, which stands at $241 billion, is also
Bahrain's central bank is setting up a central sharia board to help oversee Islamic finance products in the kingdom and will introduce new rules to strengthen governance in the sector, central bank governor Rasheed Al-Maraj said.
The global Islamic finance industry is estimated to be worth $1.3 trillion and is growing at a rate of between 15 per cent and 20 per cent per year. However, growth comes at a cost. Many Islamic banks haven’t had the time to develop a true
Bahrain Institute of Banking and Finance (BIBF) has signed a memorandum of understanding (MoU) with the University of Bolton (UK) to develop an MBA in Islamic Banking.
As per the MoU, BIBF will act as lead content provider for the Islam
Islamic banking is based on core principles of the religion. So it is striking that some banks are removing the word "Islam" from their names - a sign of both the potential of Islamic finance to grow, and the obstacles to it becoming m
Global Islamic banking assets with commercial banks are on course to exceed $3.4 trillion by 2018, fueled by growing economic activity in core Islamic finance markets according to specialists at EY’s Global Islamic Banking Center.
Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has been named the Best Technology Provider for Islamic Banking in The Asset magazine’s Triple A Islamic Finance Awards 2014.