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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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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.

Kuwait says it has too many Islamic banks

22.09.2010

Saudi Arabia's Al-Rajhi Bank, one of the biggest Islamic lenders in the Gulf, also operates in Kuwait.
"I believe that with this the Kuwaiti market has reached saturation point for Islamic banks at this stage," the governor told the newspaper.
Kuwait says it has too many Islamic banks
Sheikh Salem Abdul-Aziz al-Sabah told Arabic language daily al-Seyassah that there were five Kuwaiti Islamic lenders registered with the central bank and five conventional banks.

Saudi Arabia's Al-Rajhi Bank, one of the biggest Islamic lenders in the Gulf, also operates in Kuwait.
"I believe that with this the Kuwaiti market has reached saturation point for Islamic banks at this stage," the governor told the newspaper.
The governor did not elaborate. His office could not be immediately reached for comment.

Islamic banking is one of the world's fastest growing financial sectors, and it has attracted more attention in the aftermath of the global financial crisis as investors are increasingly looking for alternative, ethical ways of investing.

Islamic law, or sharia, bans charging interest and prohibits investment in sectors such as alcohol and gambling.

Independent analyst Ali al-Nimesh said while the current view of saturation may be accurate, demand could pick up in coming years.
"In the long term, we cannot be certain that it has been saturated."

Source: Yahoo News

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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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