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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.

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

30.01.2017

Islamic investors can now instantly purchase, save and transact in gold globally on Goldmoney's platform.
Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets
As more and more businesses look to tap demand from Islamic investors, Toronto-based Goldmoney Inc, a financial technology company that operates the world's largest 100 percent-reserved gold-based savings and payments network, said on Monday that its network accounts and wealth holdings have been endorsed as Shariah-compliant by the Shariah Supervisory Board of Amanie Advisors. The Shariah Supervisory Board had earlier issued a fatwa in accordance with the Shariah standard on gold set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and developed in cooperation with the World Gold Council. The move by Goldmoney now paves the way for Islamic investors to instantly purchase, save and transact in gold globally on its platform through the Shariah-compliant window. "Our platform democratizes access to 100% reserved and allocated gold-based savings, payments, and investment solutions, and provides citizens worldwide with the choice to save and transact in a global money that protects their purchasing power and safeguards their wealth," said Josh Crumb, chief strategy officer of Goldmoney. According to Goldmoney, it has more than 1.3 million users across 150 countries and the company administers approximately $1.7 billion in assets. "As a company with an increasingly global client base, our compliance with Shariah law is an important step in our growth, enabling us to expand our offerings to the Islamic market," Goldmoney CEO Roy Sebag said. Islamic finance does not allow gambling and outright speculation and also discourages paying interests, which is prohibited under Islam. Apart from a few GCC countries and Malaysia, India's Reserve Bank in November last year proposed to open an "Islamic window" in Indian banks to gradually include the Sharia-compliant interest-free banking in the country. The Indian government and the RBI are exploring the possibility for quite some time now aiming to include those – primarily Muslims – who for religious reasons have so far opted to stay out of the country's banking system. Source: http://www.ibtimes.co.in/goldmoney-adds-shariah-compliant-methods-boost-investment-islamic-markets-713394

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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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