Sydney, (IINA) - National Australia Bank Ltd has closed its first onshore Islamic financing deal, a A$19.9 million ($14.2 million) arrangement to fund a real estate purchase by Sydney-based asset manager Crescent Wealth, according to Reuters. The funding platform...
As many as 75 countries across the world have adopted the system. The operational term in many cases is not ‘Shariah’ but “interest-free” banking. By K C Tyagi, In an open letter addressed to the citizens of the country published on May 26, 2015, i.e.,...
Doha : Two Qatari banks and Chinese brokerage Southwest Securities signed a memorandum of understanding on Tuesday to establish a company handling Islamic finance deals in China, Arabian Business reported. The new company will help the two banks, Qatar National Bank...
By H ABDUR RAQEEB (General Secretary, Indian Centre for Islamic Finance (ICIF) ISLAMIC BANKING has emerged as a viable and possible alternative to conventional banking after the financial Tsunami of 2008 in the west particularly the sub-prime housing mortgage crisis...
By Tameemuddin Humble for Maeeshat To deepen the financial inclusion of the unbanked population and to provide the Interest-Free financial services to its members in Gaya, “Janseva Co-operative Credit Society limited” opened its 24th Branch on 15th March, 2015, on the...
LONDON – Islamic bond programs from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks’ ability to win over industry purists. Since June, France’s Societe...
New Delhi : Indian Centre for Islamic Finance-ICIF, New Delhi hails the launching of “Pradhan Mantri Jan Dhan Yojana” by Prime Minister Narendra Modi that aims at eradicating financial untouchability by providing bank accounts to the poor. At the same time ICIF urged...
By Syed Zahid Ahmad With suppressed desire by Indian Muslims to have Islamic Banking in India, and using Interest-free instead of ‘Islamic Banking’ by Raghuram Rajan Committee report on financial sector reforms, it has became more important that before it become a...
JEDDAH — The Islamic Development Bank announced on Thursday the start of a networking platform aimed at connecting the IDB and its member countries as well as institutions working on successful innovation projects and replicate them on a bigger scale. The...
Mumbai: Bait-un-Nas'r is one of the pioneer organizations to provide interest free banking services to the people of Mumbai since 1976 and it has a distinctive identification in the field of interest free banking since then. Due to some unavoidable circumstances the...