Not to pursue Islamic banking in India, says RBI
Te Economic Times
Nov 12, 2017, 02.05 PM IST
The RBI was asked to provide details of steps being taken for the introduction of Islamic or ‘interest-free’ banking in India.
In a major move, the Reserve Bank of India(RBI) has decided not to pursue a proposal for introduction of Islamic banking in the country.
Replying to... Read More
HIBAH PELENGKAP BUKAN HELAH ELAKKAN FARAID
Mutakhir ini umat Islam di Malaysia sering cuba diyakinkan oleh sesetengah pihak bahawa hibah adalah mekanisma yang efisyen untuk mengelakkan faraid. Ini menimbulkan salah faham bahawa faraid itu dilihat seakan zalim dan tidak adil. Kefahaman yang cuba dibentuk ini merupakan suatu kebatilan kerana hibah dan faraid adalah melengkapi dan bukannya mekanisma atau helah untuk... Read More
IDB to develop Shariah-compliant blockchain
LONDON: The research arm of the Islamic Development Bank plans to use blockchain technology to develop Shariah-compliant products, aiming to support financial inclusion efforts across its member countries.
The Jeddah-based Islamic Research and Training Institute said it had signed an agreement with local firm Ateon and Belgium-based SettleMint, with the first stage to focus on a... Read More
Rise of Islamic finance meets human capital gap
By Arno Maierbrugger/Gulf Times Correspondent /Bangkok Available at Gulf Times Online
The growing popularity of Islamic banking and finance and its increasing global outreach has led to a considerable undersupply of talent in the sector, both in the Middle East and in Southeast Asia, but also in new regions currently adapting to the... Read More
Indonesia takes big step towards boosting Islamic finance industry
By Arno Maierbrugger/Gulf Times Correspondent /Bangkok
The world’s most populous Muslim nation, so far a laggard in developing a comprehensive Islamic finance industry, took a big leap towards the creation of a supportive framework for Shariah-compliant banking on July 27. It was the day when the country’s President Joko Widodo inaugurated the... Read More
Does Islamic Financial Institution Need to Pay Zakat?
Former Chief Justice of Malaysia, Tun Abdul Hamid Mohamad who is also ex-member of the Syariah Advisory Council of the Bank Negara Malaysia made a significant statement that zakat to be collected only from persons professing the religion of Islam but not for companies and this include Islamic financial institutions (IFIs).... Read More
KE MANA HALA TUJU KEWANGAN ISLAM?
Harapan yang sangat tinggi diletakkan kepada kewangan Islam untuk memberikan sumbangan yang lebih signifikan kepada pembangunan, kadar pertumbuhan ekonomi dan sektor kebajikan sosial serta mampu menjadi peneraju bagi mengurangkan ketidakadilan ekonomi dan merapatkan jurang kemiskinan. Aspirasi dan paradigma ideal kewangan Islam perlu berubah daripada ‘Financial Intermediaries’ kepada ‘Investment Intermediaries’ untuk ia lebih signifikan... Read More
Dana axes offer to swap RM3bil bond in pivotal Islamic finance case
Available at http://www.thestar.com.my/business/business-news/2017/07/31/dana-axes-offer-to-swap-rm3bil-bond-in-pivotal-islamic-finance-case/#AfuOhHceV9SgVR2T.99
DUBAI: Dana Gas has revoked an offer to creditors to exchange its outstanding US$700mil (RM3.0bil) Islamic bond for new notes, ending the chance of a consensual resolution to a case that could shape the future of the global Islamic finance industry.
Dana is refusing to repay holders... Read More
Why 2017 Could Be a Breakthrough Year for Islamic Finance
4 million Muslims in the U.S. make up one of the highest earning demographics in the country. Unsurprisingly, they’re looking to invest in financial vehicles that mirror their own beliefs.
Junaid Wahedna | May 22, 2017
With assets growing at double-digit rates over the past decade, Islamic finance is ascending to greater... Read More
IMF: Malaysia is world leader and standard-setter in Islamic finance
Available at: https://www.islamicfinance.com/2017/04/imf-malaysia-world-leader-standard-setter-islamic-finance/
Malaysia is a world leader and standard-setter in Islamic finance. In recent years, the government increased the use of Islamic debt instruments for funding purposes. In April 2016, the government issued its fifth dollar-denominated sovereign sukuk (Malaysia 2026, and Malaysia 2046) for US$1.5 billion using nonphysical assets as... Read More