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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


IBFD Fund

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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.

ISLAMIC FINANCE IS NEW HORIZON FOR RUSSIAN BUSINESS

28.10.2014

Islamic finance industry, being new segment of financial services, rise for last decade to 15-20% annually.
ISLAMIC FINANCE IS NEW HORIZON FOR RUSSIAN BUSINESS
Islamic Business and Finance Development Fund (IBFD Fund) had made vigorous efforts for Islamic financial instruments’ development in Russia, namely at Tatarstan Republic.

Islamic financial services are fast-growing sphere at global financial market, where representatives from traditional banking sector uses Islamic finances to look for new customers. Islamic financing is considered to be alternative for traditional banking system.

Worldwide Islamic finance system has grown 11 times within last 12 years, from 150 billion dollars in 2000, for 1,6 trillion in 2014. At the end of 2014 the volume of booked assets 2,1 trillion dollars, where 1,6 trillion dollars relate to banking system, experts says.

Islamic financing system is at the primary stage of its establishment. Government authorities and business society are interested at development of this sphere. Last three years one of the biggest event - International economic summit of Russia and OIC country-members (KazanSummit) has been held by support of Federal Council of Russian Federation and by participation of parliamentarians not only from Islamic countries, but also European countries. Practical issues of the implementation of Islamic economic system in Russia are discussed at conference of Islamic finances and economy and consultative meeting of parliamentarians, which has become traditional for summit.

Active efforts at sphere of Islamic finances are done by following companies: Tatarstan International Investment Company (TIIC), which is created by results of KazanSummit 2009, Eurasian Leasing Company, which has found by TIIC, Ak Bars Bank and “Amal” finance house. Companies from Islamic countries start administrative offices. All of them are interested to widen the range of services, to attract largest worldwide funds and to establish new directions of Islamic products.

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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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