DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance landscape. This achievement highlights the growing recognition of Islamic microfinance as a tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it...

A court in Tehran has ordered the US government to pay $330 million in damages for "planning a coup" against the newly established Islamic republic in 1980, the judiciary said. A year after the 1979 Islamic revolution that toppled the US-backed Shah, a group of mostly army officers tried to...

Manama, Bahrain -- The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 403 percent. Subscriptions worth BD 104.778 million ($277 million) were received for the BD 26 million issue, which carries a maturity of 182...

Jeddah, Saudi Arabia--Jeddah will host the first Islamic arts event from 23rd January to 23rd April 23, 2023, which will feature 17 exhibits from Uzbekistan. The event is organized by the Diriyah Biennale Foundation in cooperation with the Ministry of Culture of Saudi Arabia. The event aims at “connecting the...

Egypt is to establish a licensing framework for digital entertainment platforms like Netflix that will require them to conform to the majority-Muslim country's "social values," the regulatory body said. The announcement late Wednesday comes just days after Saudi Arabia and its Gulf neighbours asked Netflix to drop content that conflicted...

The vessels, from the Roman, Byzantine and Islamic periods, were reconstructed at the world-famous museum's conservation laboratories, and will be shown as part of its "Shattered Glass of Beirut" showcase, before returning to Lebanon later this year.

The Islamic World Educational, Scientific and Cultural Organization (ISESCO) has listed 22 Libyan archaeological sites on the list of heritage in the Islamic world. The Ministry of Foreign Affairs of the Government of National Unity in Libya stated that the Libyan ambassador to Morocco, Abu Bakr Ibrahim Al-Taweel, received the...

The twenty-second scientific session organized by the Islamic Forum kicked off at Al Maghfirah Mosque, Sharjah. Dubbed "The Migration Route", the session is running between 18th and 30th June. Lecturer Prof. Dr. Abdul Sami’ Mohammed Al Anees, Professor of Hadith and its Sciences, at the College of Sharia and Islamic...

ISLAMICOIN, which adheres to strict Sharia audit, is one of the most popular digital currencies in the Islamic world, says Enas Yaqoub, a member of ISLAMICOIN team.

GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million sukuk fund which holds a diversified portfolio of sukuk, following signing  agreement with Credit Suisse to provide financing and fund administration services. The fund holds a portfolio of sovereign, quasi...

Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds. The bank is the largest Islamic lender in the UAE.

Marking the Solidarity Day with the Palestinian People inside the 1948 borders, the League issued a statement calling upon the United Nations and Human Rights Council to assume their responsibilities towards the cause of pain to Palestinians.

Authorities in Qatar, host of next year's football World Cup, have confiscated a line of children's toys from stores deeming their rainbow colors "contrary to Islamic values". The emirate's commerce and industry ministry did not spell out its objection to the rainbow colors, but some of the toys bore a...

Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding LLC.

Saudi Islamic minister urges people to disseminate moderation, promote a culture of tolerance and coexistence, in accordance with Islamic values.

The product has Shariyah Review Bureau certification Customers can opt for a fee-free Islamic account or a conventional one     Jingle Pay, a UAE homegrown money service business, will offer its customers an option to open an Islamic account or opt for a conventional alternative In a statement, the...

Two digital banks are being set up, if all goes well with the regulatory agency