Islamic finance forecast to grow as main markets recover

Dubai The global Islamic finance industry is expected to grow 10-12 per cent during the 2021-22 due to increased sukuk issuance and a modest economic...

Rapid Islamic banking growth deepens Oman’s sovereign sukuk market: Moody’s

Muscat The rapid expansion of Islamic banking assets in Oman will continue to deepen the market for domestic government sukuk, Moody’s Investors Service has said. The...

Digitization can help push Sharia economy development: VP

Jakarta Digitization can play an important role in developing sharia economy and finance in Indonesia because it could arrest a decline in the sale of...


Dubai’s DGCX partners with GIFS to promote Shari’ah contracts

Dubai The Dubai Gold and Commodities Exchange (DGCX), a leading derivatives exchange, has signed a strategic agreement with Global Islamic Financial Services (GIFS) to partner...

Sovereign investment Sukuk in Bangladesh

Dhaka Bangladesh issued first sovereign investment Sukuk for raising funds aiming at implementing a project titled ‘Safe Water Supply for the Whole Country’ on December...

DIB remains upbeat on growth prospects as economy rebounds

Dubai Dubai Islamic Bank (DIB), the UAE’s largest Sharia-compliant lender, is well positioned to capitalise on the economic recovery from the Covid-19 pandemic and is...

CBN urged to constitute special tribunal on resolution of Islamic Banking issues

Abuja A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor of Islamic law with...

Street crime, road robbery on the rise in capital

Police yet to devise strategy to round up culprits or curb the increasing trend Zubair Qureshi Islamabad’s urban as well as rural areas are not safe...

Zurich Capital Funds Group launches Islamic digital bank

Dubai Zurich Capital Funds Group has announced the launch of the first fully Islamic Shariah compliant digital bank in the world, branded as Rizq/Baraka bank. The...

Emirates Islamic posts 37% surge in first-quarter net profit

Dubai Emirates Islamic, a leading Islamic financial institution in the UAE, announced that its first quarter net profit surged 37 per cent to Dh212 million...

New Islamic pension fund in Nigeria to launch before June

Abuja The new pension Sharia Fund may be launched in the first half of the year, the President, Pension Fund Operators Association of Nigeria, Mr....

Global outstanding sukuk reaches $715.2B

Ankara Total global outstanding sukuk reached $715.2 billion in the first quarter of the year — 3% higher than the last quarter of 2020, according...

Execs optimistic on future of PH Islamic banking

Manila Stronger inter-agency support for the establishment of Islamic banking in the Philippines makes authorities and Islamic finance professionals see a bright future for the...


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After UAE, Kuwait bans flights from Pakistan

Kuwait Directorate General for Civil Aviation (ODGCA) on Monday announced to suspended direct commercial flights from Nepal, Pakistan, Bangladesh, and Sri Lanka for indefinite...



MMBL to secure ‘Positive Outlook’ PACRA Credit Rating

Staff Reporter Islamabad Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has registered an extraordinary feat of being the only bank in Pakistan – microfinance...