Tag: islamic banking
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25th World Islamic Banking Conference Announces 4th Series of WIBC Leaderboard to Foster Global Islamic Banking
By Maeeshat News, Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. Manama, Kingdom of Bahrain: A testament to its vision of advancing the global Islamic banking industry,…
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Turkey to play leading role in Islamic finance
Ankara : Turkey plays a leading role in Islamic finance, said group chairman and chief executive officer of Path Solutions, an Islamic banking software provider. “I believe that Turkey has a role to play as a leader in Islamic finance and as a hub because it is one of the top three Islamic finance markets…
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American University offers graduate certificate in Islamic finance
Washington : American University is now offering a graduate certificate in Islamic finance to better prepare professionals to compete and do business in both emerging and established markets. The curriculum includes courses that focus on the role of Islamic finance in the global economy and Islamic capital markets. Coursework also focuses on Sukuk (Islamic bonds),…
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CIBAFI submits recommendations to BCBS on implications of fintech developments for banks
Manama : Aligned with its role as advocate of the Islamic Financial Services Industry (IFSI), the General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, announced that it has submitted its comments on Tuesday to the Basel Committee on Banking Supervision (BCBS) on the Consultative Document on “Sound…
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Bahrain to host world Islamic banking conference in December
Manama : The 24th edition of World Islamic Banking Conference (WIBC), the world’s longest running Islamic banking conference, is set to return to Bahrain this December for three days, and will take stock of the most pressing issues affecting the global financial landscape. Middle East Global Advisors, a leading financial intelligence platform facilitating the development…
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CIBAFI submits comments to Basel Committee on Banking Supervision
Manama : Aligned with its role as advocate of the Islamic Financial Services Industry (IFSI), the General Council for Islamic Banks and Financial Institutions (CIBAFI) – the global umbrella of Islamic financial institutions – on Tuesday submitted its comments to the Basel Committee on Banking Supervision (BCBS) on the Consultative Document on “Simplified alternative to…
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Islam not meant for promoting religion based banking
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 often evoked a sense of mysticism and curiosity’. RBI officials being financial professionals found it…
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Blow to Islamic Banking in India
In spite of RBI’s green signal, the government says No ? Dr Raja Muzaffar Bhat Before handing over his charge to present RBI Governor Urjit Patel, former Governor of Reserve Bank of India Raghuram Rajan had proposed working with the Government to introduce Islamic Banking (interest-free banking) to tackle financial exclusion of a vast Muslim…
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Islamic Banking in India: The Flip-flop
By Dr Shariq Nisar Shariah banking, PLS banking, Ethical banking, Interest-free banking are different names used to identify Islamic banking which primarily works without relying on interest mechanism. Interest is strictly prohibited in Islam and therefore many countries especially those where Muslims live in majority have developed an alternate way of banking where profit is…