Ambrose, Author at's Posts

How to Build the Industry’s Global Centre

How to Build the Industry’s Global Centre

The prize remains up for grabs with none of the current hubs in the Middle East and South East Asia able to achieve the critical mass to move from a domestic to regional centre, and then upwards into a global Islamic finance centre. »

Sharia compliant finance for Development

Sharia compliant finance for Development

Islamic Finance for Development Victoria Kwakwa – World Bank Vice President for the East Asia and Pacific. Income growth is not the sole aim of economic development. To many, an equally important, albeit less quantifiable, outcome is a sense of progress for the entire community, and a confidence that prosperity is shared equitably – and sustainably – across society for the long term. Inclusi... »

Minaret Sunset

Industry Principles

Key Principles of Islamic Finance Islamic Finance is a fast growing financial services sector within which transactions are required to be compliant with Shari’a – a body of jurisprudence derived from the Qur’an and secondary sources known as the ‘Hadith’. Key characteristics include finance based on trade transactions in order to remove the basis of making money from money, often interprete... »

IMF Highlights Islamic Financial market Instrument Development in UAE

IMF Highlights Islamic Financial market Instrument Development in UAE

IMF Highlights Islamic Finance Instrument Development in UAE The IMF has highlighted the development of Islamic finance instruments in the UAE, stating the UAE is a major hub for Sukuk issuances. During 2001–15, $53.8 billion or 36 percent of all global sukuk issuances originated in the UAE. Report highlights are presented below. UAE Banking System Challenges The UAE has come a long way in the dev... »

From Financing to Empowerment – Sharia compliant finance as an Enabler in Eradicating Poverty

From Financing to Empowerment – Sharia compliant finance as an Enabler in Eradicating Poverty

Empowerment to access Markets, Technology, Education 21 July 2017 – The Islamic Development Bank (IDB) and the Islamic Solidarity Fund for Development (ISFD) held a wonderful event at the United Nations headquarters in New York titled “From Financing to Empowerment – Islamic Finance as an Enabler in Eradicating Poverty” on 14 July. A video of the event is provided below by UN Web TV. T... »

Islamic Banking and Finance in Africa: Impetus for Growth

Islamic Banking and Finance in Africa: Impetus for Growth

Report by Malaysia International Islamic Financial Centre Islamic Finance in Africa: Impetus for Growth Many market development and regulatory efforts have taken place in the African region in recent years as there is a clear set of potentials for Islamic finance to play a role in African countries to diversify their sources of funding. As the world’s largest untapped growth market for Islamic eco... »

Industry Must Seize on New Trends for Next Phase of Growth

Industry Must Seize on New Trends for Next Phase of Growth

Days of Double Digit Growth Are Gone In a speech at the Kuala Lumpur Islamic Finance Forum (KLIFF), Mr Encik Abdul Rasheed Ghaffour, Deputy Governor of the Central Bank of Malaysia stated the days of double digit annual growth are now behind the industry. The industry must now seize opportunities in new growth areas; reinforce the core strengths of Islamic finance; unlock its potential; and realis... »

A look at the evolution of Islamic compliant finance in the UK

A look at the evolution of Islamic compliant finance in the UK

Bashar Al Natoor, Global Head of Islamic Finance at Fitch Rating looks at the historical evolution of Islamic Finance in the UK. Mr Al Natoor highlights the central role the UK plays in the global Islamic finance industry covering three areas. Firstly the role of English law in underpinning global sukuk contracts and Islamic financial contracts, secondly the London Stock Exchange being a global hu... »

Why Canada is Welcoming the Industry with Open Arms

Why Canada is Welcoming the Industry with Open Arms

Canada has helped to establish a template for other sovereigns in embracing alternative and socially conscious forms of investing according to a Fitch Ratings report by Bashar Al Natoor, Global Head of Islamic Finance at Fitch. The overarching reason is that Canada can deepen its pool of investors; the belief being that the more people have a personal stake in an investment, the more public accept... »

EU Finance Ministers Blacklist UAE and Bahrain

EU Finance Ministers Blacklist UAE and Bahrain

Blacklist Could Curtail Free Flow of Islamic Financial Funds to UAE and Bahrain The global Islamic finance centre credentials of the UAE and Bahrain took a hit as EU finance ministers added them to a list of “blacklist” tax havens, which could mean they lose access to EU funds and face other sanctions. EU finance ministers have listed 17 countries for failing to meet agreed tax good governance sta... »

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