Islamic Finance
Shariah Banks Are the Future
Kenya is angling herself to reap from the growing appetite for Islamic banking products by countries in East Africa as investors from the Gulf region show a renewed interest in the region.
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Limited clarity in regulatory framework a challenge for takaful sector, says Fitch
Fitch Ratings commented that amidst the robust growth of the takaful industry in recent years, one key challenge for takaful players is the limited clarity in the regulatory and supervisory framework for the sector.
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Bringing Family Takaful into the 2nd Decade of the 21st Century
Family Takaful has achieved significant success in SE Asia, with the family segment in Malaysia reaching a substantial 73% of net contributions according to the Ernst & Young World Takaful Report 2010, launched recently at the 5th Annual World Takaful Conference (WTC 2010) held in Dubai.
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Sultan of Pahang Launches the IIUM KL Campus
The Sultan of Pahang, Sultan Ahmad Shah launched the International Islamic University Malaysia (IIUM) Kuala Lumpur campus at Persiaran Duta.
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Minister Counsels banks on new Shariah finance
Commercial banks in the country need to disseminate knowledge that will overcome a negative banking perception by the Muslim community, minister for Finance and Economic Affairs Mustafa Mkulo has said.
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Winner sells Islamic Banking course in Shanghai
Among the many booths located in the Brunei Pavilion in Expo 2010 Shanghai, one booth stands out due to its promotion of a field that is very much unknown in China, Islamic banking.
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Awareness on Islamic Finance products/ services
Since the inception of Islamic banking more than three decades ago, the number and reach of Islamic financial institutions worldwide have risen from one institution in one country in 1975 to over 300 institutions operating in more than 75 countries. Although Islamic banks are concentrated in the Middle East and Southeast Asia, it is fast gaining acceptance in Europe and the United States as niche players. In Europe, UK has taken the lead since 2004 with the first Shariah-compliant retail bank, the Islamic Bank of Britain. In 2009, the French government announced its wish to change the regulation to allow Islamic banking, and Germany will open its first Islamic bank this year in Mannheim, a city with a large ethnic Turkish population...
Dubai Islamic Bank announces first quarter 2010 net profit of AED 200 million
Dubai Islamic Bank (DIB) announced today its financial results for the three months ending March 31, 2010, reporting a net profit of AED 200 million compared to AED 370.3 million in the first quarter of 2009.
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African Islamic finance faces image problem: banker
Africa's Islamic finance industry needs to overcome negative perceptions among non-Muslims to successfully expand into predominantly Christian sub-Saharan Africa, an industry leader said.
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Sukuk still a niche despite huge potential
If you kept stacking dollar bills vertically, one on top of another, a trillion dollars would reach the moon – that is about the current size of Islamic finance. However huge it may sound though, the industry is just one per cent of the total global finance market despite the 10 to 15 per cent growth it has enjoyed in the past few decades.
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