Saturday 25 October 2014
 
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Islamic Finance

Islamic finance on growth track despite hiccups

The GCC Islamic Finance industry is expected to maintain its rapid growth over the coming years despite mixed results across sectors in 2014, according to Standard & Poor’s Ratings Services (S&P). The GCC Islamic Fin

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Oman sets up sharia board to boost Islamic finance

Oman's central bank has set up a sharia supervisory board to help oversee the sultanate's Islamic banking industry, a centralised model that is increasingly being adopted across the global industry but remains a rarity in the Gulf.

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Bahra Cables receives $265m Islamic financing

Bahra Advanced Cable Manufacturing Company, a leading cable manufacturing company in Saudi Arabia, has received an Islamic financing of $265 million from Standard Chartered bank. The company will utilise $200 million as a short-term Isl

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Turkish Islamic bank to establish in Bahrain

Turkish Islamic lender Turkiye Finans Katilim Bankasi plans to establish a presence in Bahrain, in what would be its first overseas foray and a welcome addition to the Kingdom's Islamic banking sector. Turkiye Finans, in which

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GCC takaful contribution to hit $8.9 billion this year

GCC's gross takaful contribution is estimated to reach around $8.9 billion in 2014 from an estimated $7.9 billion last year, according to a new report. Global Takaful Insights 2014, the latest report from EY, a multinational p

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Swift to launch Islamic Finance Rulebook

Society for Worldwide Interbank Financial Telecommunication (Swift), in collaboration with The Association of Islamic Banking Institutions Malaysia (Aibim) and the Malaysian Islamic financial community, has launched a new rulebook for the usage

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Rising interest rates may revive Islamic commodity deals

A return to an era of higher interest rates could derail attempts by Islamic finance to create alternatives to a short-term funding instrument that has dominated the industry, but which some scholars and regulators want to see replaced.

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Growing popularity of Islamic finance underlined

Dubai Chamber of Commerce and Industry underlined the growing popularity of Islamic finance over the conventional sector in a preparatory report for the 10th World Islamic Economic Forum (WIEF) to be held in Dubai from October 28-30.

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Islamic economies 'set to cross boundaries'

Islamic economies are already a significant part of the global economy and are set to become even more important over the next decade, a senior banker has said. Contrary to popular belief, the Islamic economy is more than just Isl

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Islamic finance facing challenges on multiple fronts

The Islamic Finance industry has been in operations for more than 40 years. Yet the industry lacks risk management standards, risk assessment and risk mitigation tools needed for it to compete on a level playing field with traditional banks, sai

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