Islamic scholar in Indonesia says Bitcoin is compatible with Islamic law.
Cash-rich Kuwait, bolstered by a healthy banking sector, is taking steps to reduce dependence on petroleum and motivate entrepreneurs.
Al Ahli Bank of Kuwait’s CEO, Michel Accad, opens up about his country’s economic role in the Arab world and why the Gulf nation might never achieve all its lofty aspirations.
FTSE announced Kuwait’s forthcoming addition to the Secondary Emerging Markets list last September. What’s happened since?
Salah Al-Fulaij, CEO of NBK-Kuwait, shares thoughts with Global Finance about competition, Kuwait’s growth prospects and the pressures of global regulation.
The consortium, called ALGO, will enable Islamic member banks to create fintech solutions in a cost-effective and fast manner.
Shariah-compliant finance is growing in Turkey, and Ankara is planning new rules to help guide the market.
The Accounting and Auditing Organization for Islamic Financial Institutions (Aaoifi) has issued a new shariah standard that allows Islamic financial institutions to use gold.
With mounting payment obligations and a worsening balance of payments, Pakistan has returned to the Islamic bond market after a two-year hiatus. In early October, Pakistan mopped up $1 billion through a dollar-denominated Islamic bond with a five-year tenure.
These are exciting times for the nations of the Gulf Cooperation Council (GCC), as the decline in oil revenues is forcing them to finally make dramatic changes to their oil-based economies.
With the customer base growing, Islamic finance is drawing more banks and nonbank finance firms. Innovation can be a key differentiator.
Noor Bank focuses on select business segments and eyes the digital payment space that will offer some of the best opportunities over the next couple of years.
Retail demand for Islamic finance in the Kingdom of Saudi Arabia and the wider region keeps increasing. Growth areas include structured hedging and investment products, project and aviation finance, equity-linked and greenfield project sukuk.
Global Finance magazine profiles the best Islamic Financial Institutions of 2016
Mohamed Azmeer, CEO of Amãna Bank, describes how Islamic principles require creativity to design products that meet customer needs.
QIB controls 43.5% of the Islamic banking market share in Qatar and 11.5% of the overall market and says that the long-term growth prospects remain promising.
Still finding its way onto the broader global stage, Islamic finance is expanding its reach and rising to new heights in delivering added value to consumer and business markets alike.
Maybank Islamic is developing outside Malaysia, establishing a footprint in the region. With a return on equity of 16%, achieved despite a capital ratio of 17%, the trick will be to sustain the bank’s bullish approach to investing despite the country’s economic downturn.