Ambrose, Author at's Posts

From Financing to Empowerment – Islamic Finance as an Enabler in Eradicating Poverty

From Financing to Empowerment – Islamic 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... »

IFSB view on Islamic Crowdfunding

IFSB view on Islamic Crowdfunding

Fintech and Islamic Crowdfunding The Islamic Financial Services Board (IFSB) in its annual Islamic financial services industry stability report highlighted developments in the Islamic Finance Fintech space, in particular the Sharī’ah compatibility and application to Islamic finance, financial inclusion and regulatory issues. Many of the Sharīʻah questions raised in the following are not based on c... »

IMF Highlights Islamic Finance Instrument Development in UAE

IMF Highlights Islamic Finance 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... »

Dana Gas Sukuk is Toxic for UAE Islamic Finance

Dana Gas Sukuk is Toxic for UAE Islamic Finance

“Using Shariah non-compliance as a rationale for restructuring” The actions of Dana Gas can derail UAE and Dubai’s Islamic Finance ambitions as investors question credibility of UAE based Sharia compliance assurances. UAE based Dana Gas made a surprise announcement on 13 June, stating “due to the evolution and continual development of Islamic financial instruments and their interpretation, the Com... »

IFSB “Another Year of Slowdown in Global Islamic Finance”

IFSB “Another Year of Slowdown in Global Islamic Finance”

Despite slowdown, in USD terms size of market little changed The Islamic Financial Services Board (IFSB) in its annual Islamic financial services industry stability report highlighted continued slowdown of the global Islamic Financial Services Industry (IFSI). Despite this, the global IFSI has been able to sustain its total assets value at approximately USD1.9 trillion in 2016. 2016 – Anothe... »

Minaret Sunset

Islamic Finance 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... »

Africa’s Growing Islamic Finance Footprint

Africa’s Growing Islamic Finance Footprint

Africa’s Growing Islamic Finance Footprint The use of Sukuk to fund Africa’s infrastructure needs as well as expanding Islamic Banking windows signal continued growth of African Islamic finance CIBAFI Discusses Islamic Financed African Infrastructure Funding Abdulilah Belatiq of the Bahrain based General Council for Islamic Banks and Financial Institutions (CIBAFI) discussed CIBAFI’s initiatives i... »

Islamic finance on the rise in Asia

Islamic finance on the rise in Asia

In an interview with CNBC Squawk Box, Ashraf Mohammed from the Asian Development Bank (ABD) explains why Islamic finance is growing more popular as an alternative to the conventional banking system. Topics discussed included terrorist financing, and the growing importance of Islamic financing across Asia particularly for infrastructure funding in non-Muslim majority countries. »

Australia’s Hejaz to launch Islamic Financial Compliant Global Ethical Fund

Australia’s Hejaz to launch Islamic Financial Compliant Global Ethical Fund

Global Ethical Fund Australia’s Hejaz Financial Services intends to launch a Global Ethical Fund, its first fund offering retail investors exposure to Australian equities, international equities, REITs, Sukuk, gold and Islamic term deposits in a Shariah compliant manner. In doing so, it will join Crescent Wealth and First Guardian in providing an Islamic retirement fund to the Australian market. T... »

Islamic Funds: Gearing Up

Islamic Funds: Gearing Up

Report by Malaysia International Islamic Financial Centre Islamic Funds: Gearing Up The global Islamic funds industry is poised for growth witnessing greater demand for Shariah-compliant investment, supported by increasing range of Islamic financial assets available in the market. As at end 1Q2017, the total global Islamic assets under management (AuM) were USD70.8 billion and the number of Islami... »

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