Foutanga Babani Sissoko told a Dubai Islamic Bank branch manager he had black magic powers. The manager agreed and Sissoko ended up taking $242m from the bank, putting it on verge of collapse. In a BBC report, Brigitte Scheffer reported Mali national Foutanga Babani Sissoko persuaded Dubai Islamic Bank manager, Mohammed Ayoub he had magic powers with which he could take a sum of money and double i... »

Converting Billions of Dollars of Idle “Under the Mattress” Gold Assets into Mainstream Economies Traditionally gold is passed down the generations in Islamic cultures, but as an asset remains stored in vaults and not active in the wider economy. Islamic finance gold banking offers the potential to convert many billions of dollars of idle “under the mattress” gold assets into mainstream economies ... »

Former Turkish Deputy Prime Minister Ali Babacan speaking at a IMF discussion in May 2015 emphasised the universality of Islamic finance for all of man-kind irrespective if the customer is Muslim or not. »

South Africa’s debut sukuk was “very tough” stated Tshepiso Moahloli in an interview with Global Financial Conferences »

Key Milestones in the development of the Islamic Financial Market from the establishment of first Islamic Bank, Mit Ghamr Bank, Egypt in 1961 to the present day. Copyright of Royal Award Malaysia »

14 July 2018 - Astana International Financial Centre aspires to become a new global financial hub, and Islamic finance is expected to be a key part of that goal. »

 Securitization of Sharia-compliant home purchase plans On 22 February, UK-based Al Rayan Bank PLC (ARB, Aa3 negative, baa21) issued the UK’s first asset-backed Sukuk through a special-purpose vehicle, Tolkien Funding Sukuk No. 1. The issuance, a £250 million securitization of Sharia-compliant home purchase plans (HPPs), widens the issuer base for Sukuk outside the core Islamic markets of Gulf Coo... »

IDB Aiming for its Largest Sukuk Issuance Bandar Hajjar, president of the Islamic Development Bank (IDB) has said the Saudi Arabia headquartered institution is planning soon to issue its largest sized Sukuk for $2.5 billion. The 57 member AAA rated development bank is a regular issuer of Sukuk having last issued in September 2017 with a $1.25 billion issuance which was priced at 2.261%. As part of... »

The IMF examines whether compliance with Basel Core Principles (BCPs) for effective banking supervision affects bank stability and risk taking by comparing conventional and Islamic banks. Basel Compliance and Financial Stability: Evidence from Islamic Banks While previous studies that use the BCPs index report no evidence of a significant association with bank stability and efficiency, this study ... »