Islamic Banking and Finance is Emerging in CIS Countries
- 13 hours 33 min ago
- Islamic Finance
Islamic banking and finance is experiencing a surge in popularity within the Commonwealth of Independent States (CIS) region, presenting a significant new market for financial services. This was highlighted by a recent visit to Uzbekistan, Kyrgyzstan, and Azerbaijan by Mr. Muhammad Zubair, CEO of AlHuda Centre of Islamic Banking and Economics (CIBE), UAE a leading Islamic finance advisory and consultancy firm.
Halal Car Finance Platform, Ayan Capital, Launches in the UK
- 4 weeks 1 day ago
- Islamic Finance
Ayan Capital, the Islamic car finance platform for business, private hire vehicles (PHV) and public carriage office (PCO) drivers in the UK, has officially launched. Based in London, Ayan Capital allows drivers across the UK to access business car financing that is fully compliant with Shariah principles.
Offa Selects finova’s Apprivo Origination Platform to Power its Sharia-compliant Finance Products
- 2 months 3 weeks ago
- Islamic Finance
The UK’s first Sharia-compliant bridge finance provider, Offa, has partnered with cloud-based mortgage and savings provider finova to develop an innovative end-to-end digital platform to support its growing portfolio of property finance products. Offa’s new origination platform will be delivered by finova and its implementation partner Hexaware in the first half of 2024.
IsDBI Begins Development of Islamic Finance Knowledge Pavilion Marketplace
- 3 months 3 weeks ago
- Islamic Finance
The Islamic Development Bank Institute (IsDBI) has kicked off the development of the pioneering Islamic Finance Knowledge Pavilion Marketplace. The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities and seamless digital experience in the matchmaking of suppliers and customers.
Islamic Finance is Growing Tremendously in Central Asia: Zubair Mughal
- 5 months 1 week ago
- Islamic Finance
Islamic Finance, guided by Shariah principles, is a values-driven approach to investment that promotes justice and prohibits unethical, speculative, and usurious practices. It plays a pivotal role in supporting the real economy and boosting the global financial system's resilience. Since the war of the Soviet Union and the emergence of new nation-states in 1991, the Muslim-majority republics of Central Asia have witnessed the introduction of... more
Islamic Finance Seems Promising in Canada
- 5 months 3 weeks ago
- Islamic Finance
Canada is witnessing an increasing interest in Islamic finance, particularly in areas like housing finance, mortgage finance, and takaful (Islamic insurance) products. Some small level Islamic finance institutions in the Canadian market are offering the financial services that adhere to Sharia principles.
Islamic Banking & Finance Assets Have Grown to USD 4 Trillion: Zubair Mughal
- 6 months 2 weeks ago
- Islamic Finance
In an era where ethical and sustainable finance is gaining prominence on the global stage, the Islamic banking and finance industry has emerged as an icon of responsible financial practices. It has emerged as an effective tool for financing development worldwide, including in non-Muslim countries. Major financial markets are increasingly recognizing the potential of Islamic finance to help address the challenges of ending extreme poverty and... more
5th Global Takaful and Re-Takaful Forum will be hosted in Addis Ababa, Ethiopia
- 6 months 4 weeks ago
- Islamic Finance
5th Edition of Global Takaful and Re-takaful forum has been rescheduled to 23rd November 2023 in Addis Ababa, Ethiopia. The objective of this conference is to create awareness about takaful and its significance for the risk management of human life and financial institutions through Shariah legitimate modes. Takaful is a very important pillar for the development Islamic finance industry. AlHuda CIBE is playing an active role for the growth of... more
AlHuda CIBE is Committed to Strengthen the Islamic Finance Industry in Zimbabwe
- 7 months 5 days ago
- Islamic Finance
AlHuda Center of Islamic Banking & Economics (CIBE) and the Zimbabwe Association of Microfinance Institutions (ZAMFI) are pleased to announce their collaboration in hosting a specialized two-day training workshop on "Islamic Banking, Finance & Islamic Microfinance." The training is scheduled to take place on October 10th and 11th 2023, in Harare, Zimbabwe.
iDenfy Partners with Kestrl to Increase Conversions Through Automated KYC and PoA Checks
- 7 months 1 week ago
- Islamic Finance
iDenfy, a global RegTech startup offering AI-based identity verification and fraud prevention tools, announced partnering with Kestrl, a UK-based fintech company specializing in Islamic finance, empowering Muslims to build wealth in accordance with their faith principles. iDenfy’s ID verification, AML screening and PoA verification tools will help Kestrl stay compliant while ensuring efficient and simple customer onboarding.
AlHuda CIBE Continues its Commitment to Excellence in Islamic Finance FinTech Services
- 7 months 1 week ago
- Islamic Finance
The global FinTech landscape has witnessed significant growth and transformation. Investments in FinTech have been on the rise, with substantial venture capital funding contributing to the sector's expansion. Startups in the FinTech space have proliferated, many of them achieving unicorn status, reflecting the sector's attractiveness to investors. Digital payments have surged in popularity, with mobile payment apps and contactless transactions... more
1 in 3 UK Adults Now Focused on Savings Despite Over 13.7 Million Having Less Than £1,000 in the Bank, Finds Gatehouse Bank
- 7 months 1 week ago
- Islamic Finance
Gatehouse Bank, the Shariah-compliant challenger bank, has today released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes to money, assessing the key factors that influence them, why they look to save or spend their money and what might cause a shift in this mindset.
ila Bank’s ‘alburaq' Offers a New Islamic Banking Experience in Bahrain
- 7 months 2 weeks ago
- Islamic Finance
Bank ABC’s commitment to digital disruption remains resolute, as its retail arm ila Bank successfully launched Bahrain’s exclusively digital, Shari’a-compliant banking offering for individual customers - ‘alburaq.’ Introduced in May 2023, this new Islamic banking experience from ila Bank brings customers a host of intuitive Shari’a compliant banking products and services at their fingertips through ila’s multi-faceted, state-of-the-art mobile... more
Islamic Microfinance Industry Surpasses $60 Billion, Paving the Way for Poverty Alleviation: Zubair Mughal
- 7 months 4 weeks ago
- Islamic Finance
The global Islamic microfinance industry has reached a significant milestone, surpassing $60 billion in value within the $3.8 trillion Islamic finance landscape. This achievement highlights the growing recognition of Islamic microfinance as a potent tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it as a viable alternative for fostering financial inclusion and... more