Dubai : Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced recently that the meeting approved the distribution of 45 fills per share as cash dividend for 2017, closing another year with strong returns to shareholders since...
Awarded Gold Medal as Recognition of its Cooperative Banking Services Mumbai: “Jan Seva Cooperative Credit Society is the only interest-free monetary institution in the country. With a sum of just Rs 191,000, it began its journey and within seven years its revenue...
By S M Wasiulah The preferred form of investment or financing in Shariah is profit-and-loss-sharing (PLS). References can be found in favor of PLS modes in Quran and Ahadith. However, a quick review of the current progress of Islamic finance industry indicates...
Istanbul : The Fourth International Congress on Islamic Economics and Finance was held recently at Istanbul Sabahattin Zaim University, Turkey in collaboration with Sakarya University ISEFAM (Research Center for Islamic Economics and Finance) with participation of...
Maeeshat.in, Thiruvananthapuram, July 28: From its name its idea and nature are evident. Halal Fayidah, an interest-free cooperative bank launched in Kerala’s Kannur districtthis Monday, is said to have been modeled on the lines of Islamic banking and finance....
Maeeshat.in, Kuala Lumpur (Malaysia), July 17: Despite the global slowdown which did not spare even the Islamic financial industry overall, Islamic capital market surged in 2016 compared to the previous year. “Islamic Capital Market performed better in 2016 than in...
Muscat : Bank Muscat, the leading financial institution in the Sultanate of Oman, reported a net profit of 84.31 million Omani rial ($218.8 million) for the first half of 2017, down from OMR90.47 million for the same period last year. The bank’s net interest income...
By Maeeshat.in Desk, UAE, July 15: The International Monetary Fund, in its latest report, has admitted growth of Islamic finance and banking in the United Arab Emirates. “UAE is also a major hub for Islamic bond issuances―during 2001–15, $53.8 billion or 36 percent of...
By: - Syed Zahid Ahmad In 2006 the RBI’s Working Group to examine the financial products used in Islamic banking stated that ‘as distinct from modern, conventional banking, Islamic banking due to its inextricable influence of religious doctrines has often evoked a...
By:- Syed Zahid Ahmad for Maeeshat In 2006 the RBI’s Working Group to examine the financial products used in Islamic banking mentioned that ‘as distinct from modern, conventional banking, Islamic banking due to its inextricable influence of religious doctrines has...