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Philippines plans to allow banks to set up Islamic banking units

Bangko Sentral ng Pilipinas is leaning toward allowing local lenders to set up Islamic banking subsidiaries, as it steps up efforts to promote...

Islamic banking share grows in Oman

By Kabeer Yousuf, Oman Observer The share of Islamic banking to Omans economy accounted for 13.4 per cent of the total banking share in Oman...

How Islamic bank injected $1.12bn in Nigeria since 2005 – Regional...

The Islamic Development Bank (IsDB) has approved $1.12 billion dollars for development projects across Nigeria since 2005 to address various infrastructural challenges faced by the...

South Africa Islamic financial institutions deliver consistent double-digit growth

FNB Islamic Banking has been awarded "Best Islamic Banking Window in South Africa for 2019" at the Global Business Outlook Awards.The awards recognise and...

Russia’s Sberbank to Acquire Stake in Islamic Charity Platform PayZakat

Russia's largest bank, state-controlled Sberbank, will acquire 25 percent of the PayZakat platform that collects charity for Muslims in need. Zakat is a form of...

S&P report says IFSB proposal on Sharia-compliant lender of last resort...

DUBAI (S&P Global Ratings) May 20, 2019--The IFSB's proposal on Sharia-compliant LOLR facilities could help boost the stability of the Islamic banking industry by...

Islamic finance is missing the ’S’ in ESG, report says

DUBAI (S&P Global Ratings) May 20, 2019--The Islamic finance industry could contribute to a sustainable financial system by further developing existing parallels between Sharia...

Bangladesh Islamic banks’ profitability shrinks in 2018

Shariah-based banks’ net profit margin declined to 2.2 percent in 2018 from 3 percent a year earlier at a time when the banking sector’s...

Fintech to help Qatar become Islamic finance hub: QFC

Fintech can enable Islamic finance to attract more customers, increase efficiency, reduce costs and offer a wider range of products, helping the sector become...

Malta: Islamic finance opportunities at the Blockchain Island

Islamic finance in Malta is still in its infancy, where exposure to the market is still being sought after to reach the levels it...
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