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.
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.
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
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
The Islamic Development Bank (IDB) has relaunched its infrastructure fund with backing from Saudi Arabia, Bahrain and Brunei, aiming to raise $2 billion - almost triple the size of the original fund.
Jeddah-based IDB, a multilater
The Chartered Institute of Management Accountants (CIMA), the world’s leading and largest professional body of management accountants, has renewed its longstanding partnership with Talal Abu Ghazaleh Professional training group.
The Malaysia-based Islamic Financial Services Board (IFSB) will issue draft guidance by year-end on how Islamic banks, which face a lack of short-term funding instruments, can use sukuk as a key tool for meeting the liquidity requirements of Bas
Eighteen new standards issued by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will be the subject matter of new courses at Bahrain Institute of Banking and Finance (BIBF).
"The new AAOI
Thomson Reuters and Abu Dhabi Islamic Bank (ADIB) are seeking entries for the 'Ethical Finance Innovation Challenge and Awards' (EFICA) which aims to honour major players in Islamic banking innovation.
The duo will be join
Kuwait Finance House-Bahrain (KFH-Bahrain) has offered assistance in developing its Islamic finance industry to a visiting high-level delegation from Brunei.
Led by the Minister of Development and Brunei Monetary Authority deputy