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Kuwait wants legal entity for sharia supervisionAn independent legal entity should oversee the way in which Islamic financial institutions certify they are following sharia principles, Kuwait's central bank governor Mohammad al-Hashel said in a speech to industry scholars. More… |
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Islamic finance ‘relevant to all faiths’A majority of non-Muslim UK consumers believe that Islamic finance is relevant to all faiths, said a recent survey. The first national survey by UK-based sharia-compliant retail bank Islamic Bank of Britain pointed out that about More… |
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Dubai Islamic profits jump 66pcDubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, posted a 66.2 percent jump in its fourth-quarter net profit, Reuters calculations show. Beating analysts' forecasts, the bank made 518 million dirha More… |
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IBB launches sharia-compliant cash accountIslamic Bank of Britain (IBB), the UK’s only wholly sharia-compliant retail bank, has launched its IBB Notice Cash Individual Saving Account (ISA). The account offers consumers an ethical, tax-free way to save, with an expec More… |
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StanChart-Tamkeen tie-up to offer Sharia solutionsStandard Chartered Saadiq and Tamkeen, Bahrain’s labour fund, have partnered to add Sharia-compliant solutions for trade and working capital needs to bank’s portfolio, a report said. Through the enhancement, eligible b More… |
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Noor Islamic Bank renamed Noor BankDubai-based Noor Islamic Bank has been renamed Noor Bank in a move aimed at underlining its local and international growth ambitions and broadening the appeal of its Islamic finance products and services. The simplified name under More… |
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SRB to oversee UK firm’s shari’a compliance driveBahrain-based Shariyah Review Bureau (SRB) has been signed up to supervise the shari’a compliance process of UK-based SCS Farmland’s investment programme. The shari’a advisory firm will work with the company to s More… |
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Malaysia offers new Islamic standard equitiesNew Malaysian standards for sharia-compliant equities are expected to attract more Islamic investment funds from the Gulf, a senior official of the country's Securities Commission said. A revised list of Malaysian equities tha More… |
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Dubai moots Islamic savings scheme for UAE expatsDubai has proposed to the federal government of the UAE that the country create a sharia-compliant retirement savings scheme for foreign workers, a step which could help to develop the Islamic funds industry. The aim is that the s More… |
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Ducab adopts sharia-compliant hedgingDucab, a leading manufacturer of high-quality power cables and wires in the Middle East, is set to convert its conventional metals hedging practices into Islamic structures. The initiative, taken under the guidance from its board, More… |
