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Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

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Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


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22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Sharia scholar: "Russia has potential for the becoming emerging market of islamic finance"

12.01.2010

Sharia scholar, doctor Husein Hamed Hasan, declared that world market sukuk didn't die, it simply took respite.
Sharia scholar:
Sharia scholar, doctor Husein Hamed Hasan, declared that world market sukuk didn't die, it simply took respite.

In interview for Emirates Business 24/7 doctor Husein discussed topical issues of islamic finance, such as sukuk trading, industry of islamic banking and risk management. And when the theme was taken up that sukuk market substantially died, he responded:"The market of sukuk is not dead, but more likely takes a rest, and through six months from this moment, I'm sure, we will hear about new issues of sukuk, striking the market".

"I expect that United Arab Emirates will see sukuk totaling to not less than $5-6 billion, which will be issued during current year", - he added.

Although last year sukuk market rebounded from very slow growth of 2008, it hasn't approached its pre-depression level of 2007.

Doctor Husein also denied the argument that sukuk is only the islamic version of straight bonds. He declared: "Sukuk intelligibly represents shared ownership and in no way deals with debt".

As for islamic banking the scholar takes the view that the industry has promising future because lots of finance players "started to admit the value of islamic finance system which coincides with Sharia principles that also means standards of ethics". He also noticed that "nowadays almost all traditional banks have "islamic windows" or sell islamic products". He also added: "I think it's good tendency".

When doctor Husein was asked about risk management in islamic finance he responded: "There are several Sharia-compliant arrangements using for risk hedging. These islamic alternatives before putting into operation must be approved by Sharia scholars. Sharia has own risk assessment and management tools".

As the scholar notices "Russia, Turkey and Kazakstan are prospective emergent markets of islamic finance".

Islamic-Finance.ru according to data of GIF Magazine

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