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07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

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


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


19.02.2016

Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

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


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


09.12.2015

Russian financial experts are exploring options to launch Islamic Banking


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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.

Ireland as a centre for Islamic finance

20.08.2010

It's a tad ironic, perhaps, that a nation with one of the proportionately largest Roman Catholic populations in the world is turning to Islamic finance for new opportunities. Are Ireland's ambitions realistic, and what jobs are likely to be created if it succeeds?
Ireland as a centre for Islamic finance
It's a tad ironic, perhaps, that a nation with one of the proportionately largest Roman Catholic populations in the world is turning to Islamic finance for new opportunities. Are Ireland's ambitions realistic, and what jobs are likely to be created if it succeeds?
Any new jobs are still a way off, but the Irish government has recently made some regulatory and tax changes designed to attract more business from Islamic finance institutions. Understandably, considering the small Muslim population, the focus is initially going to be on wholesale rather than retail financial services.
This will be a challenge, suggests Saftar Sarwar, board member of the Islamic Finance Council in the UK: "In Europe, London has a firm grasp on the wholesale Islamic finance market, due to the proliferation of front office expertise and I think Ireland will struggle to wrestle that away."
There's also the fact that while the industry as a whole continues to grow, the wholesale market has struggled to really take off in the current muted deal market, suggests Sarwar.
"Because of the back and middle office expertise already in Ireland, the real opportunity is for it to capitalise on this in an Islamic finance sense," he adds. "It would be a natural progression to adapt these skills for the Islamic market."

As well as the fund servicing opportunities, there's also the chance for professional services companies like accountancy and law firms capitalise. However, there's still work to be done in terms of skilling up for this market.
"Ireland is now well placed to benefit from the anticipated growth in the Islamic finance market. Accounting for such complex transactions can be a challenge though and what is need is a framework which is readily comparable with conventional finance," says Enda Faughnan, tax partner at PricewaterhouseCoopers in Ireland.

http://news.efinancialcareers.ie/

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Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

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