June 15, 2016
Algeria is preparing to launch Islamic financial services as the OPEC member seeks new ways to raise money after a sharp fall in energy earnings.
Boualem Djebbar, head of the state-run Banks and Financial Institutions Association, said plans to offer Islamic finance products were part of wider reforms aimed at modernising the underdeveloped banking sector.
Opting"...Continue Reading >
June 8, 2016
India is getting ready to become the next non-Muslim country where Islamic finance could set foot through a number of first-time initiatives in a nation with an estimated 180mn-strong Muslim population. As per latest news, Saudi Arabia-based Islamic Development Bank, or IDB, will launch its first Indian operation in the country’s western state of Gujarat. The plan follows an agreement between India’s state-owned Export-Import Bank and the Islamic Corp for the Development of the Private Sector, the private-sector arm of the IDB"...Continue Reading >
June 8, 2016
It’s rarely been this good for Islamic bond investors.
Not only have global-dollar sales climbed to $14 billion this year, a record for the period and relief after a dearth of offerings in the second half of 2015, but some issuers are willing to pay up to attract Islamic cash. Indonesia, the biggest borrower, Dubai Islamic Bank PJSC and the emirate of Sharjah are among those paying more for funds.
Investors"...Continue Reading >
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