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Latest News

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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Recent Comments

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.

Tanzania: Bank - Shariah Banking Attracts Many

03.09.2010

Stanbic Bank Tanzania has recorded an impressive response to the Shariah banking scheme.
Already 5,000 new customers have opened accounts since it was introduced three months ago.
Tanzania: Bank - Shariah Banking Attracts Many
Stanbic Bank Tanzania has recorded an impressive response to the Shariah banking scheme.
Already 5,000 new customers have opened accounts since it was introduced three months ago.
Managing director Bashir Awale said during an Iftar organised by the bank to its customers in Dar es Salaam on Tuesday that the Shariah-compliant banking would be improved to enable more clients to join it.
"We currently receive about new 50 customers per week; our aim is to increase or even double that number," he said.
The bank also plans to install more automated teller machines to bring services closer to the clientele.
Stanbic is the first bank in Africa to start the Shariah banking to meet the needs of the Islamic community.
The scheme also prohibits the Muslim community from investing in businesses that provide goods or services that are considered contrary to the Islamic principles.
It is a system of banking that is consistent with the principles of Islamic Law (Shariah), which in practice prohibits the payments or acceptance of interest fees for the lending and acceptance of money.

Sourse: www.allafrica.com

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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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