An independent legal entity should oversee the way in which Islamic financial institutions certify they are following sharia principles, Kuwait's central bank governor Mohammad al-Hashel said in a speech to industry scholars.
A majority of non-Muslim UK consumers believe that Islamic finance is relevant to all faiths, said a recent survey.
The first national survey by UK-based sharia-compliant retail bank Islamic Bank of Britain pointed out that about
Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, posted a 66.2 percent jump in its fourth-quarter net profit, Reuters calculations show.
Beating analysts' forecasts, the bank made 518 million dirha
Islamic Bank of Britain (IBB), the UK’s only wholly sharia-compliant retail bank, has launched its IBB Notice Cash Individual Saving Account (ISA).
The account offers consumers an ethical, tax-free way to save, with an expec
Standard Chartered Saadiq and Tamkeen, Bahrain’s labour fund, have partnered to add Sharia-compliant solutions for trade and working capital needs to bank’s portfolio, a report said.
Through the enhancement, eligible b
Dubai-based Noor Islamic Bank has been renamed Noor Bank in a move aimed at underlining its local and international growth ambitions and broadening the appeal of its Islamic finance products and services.
The simplified name under
Bahrain-based Shariyah Review Bureau (SRB) has been signed up to supervise the shari’a compliance process of UK-based SCS Farmland’s investment programme.
The shari’a advisory firm will work with the company to s
New Malaysian standards for sharia-compliant equities are expected to attract more Islamic investment funds from the Gulf, a senior official of the country's Securities Commission said.
A revised list of Malaysian equities tha
Dubai has proposed to the federal government of the UAE that the country create a sharia-compliant retirement savings scheme for foreign workers, a step which could help to develop the Islamic funds industry.
The aim is that the s
Ducab, a leading manufacturer of high-quality power cables and wires in the Middle East, is set to convert its conventional metals hedging practices into Islamic structures.
The initiative, taken under the guidance from its board,