UK-based global investment group Aberdeen is confident that interest in Shariah investment will grow, citing positive growth trends in the industry since 2009.
The first-ever Islamic finance training catered to over 100 Imams in the US will be introduced to raise the level of knowledge and understanding of Islamic financial transaction law.
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Islamic finance is still essentially risk-averse and short-term in its outlook, and Islamic investors share the same view with their bankers and prefers not to invest in Halal businesses and SMEs.
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France plans to develop Islamic finance and attract investment from the Gulf to its economy, State Secretary for Foreign Trade Pierre Lellouche said.
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Indonesia’s central bank is aiming to simplify the approval process for Islamic banking products to accelerate the development of the country’s Islamic finance industry.
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The volume of annual trade exchanges between Iran and Turkey has reached US$7.5 billion, indicating a growing trend in Tehran-Ankara economic interactions, a Turkish official says.
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Islamic finance can enhance the financial system’s stability but shortcomings in standardisation and liquidity management must be tackled, said European Central Bank policymaker Yves Mersch.
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The Malaysian central bank has given two conditional licenses to separate foreign parties to establish mega Islamic banks in the country, with minimum $1 billion in paid up capital.
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Will Islamic finance be a serious challenge to traditional Wall Street finance? That is a question that deserves a good answer, writes Andrew Sheng of The China Post.
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Shaikh Saleh Abdullah Kamel has been awarded the Royal Award for Islamic Finance for his visionary drive, leadership and commitment in the overall development of Islamic finance.
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