MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum of Understanding (MoU) with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The primary goal is to reinforce collaboration in capacity building within ahli Islamic and foster the...

Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.

Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026.

With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report.

Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand and favorable regulations, predicts Moody's.

The net profit increased by 32.74 percent compared to Q2, 2022.

"Undoubtedly, since both countries have opportunities to establish mutually beneficial cooperation by using Qatar's investments to process Tajik raw materials and produce high value-added end products for export. One of the strategic goals in Tajikistan is the implementation of accelerated industrialization," he adds.

The bank's operating profit rose by 35.7 percent compared with Q1 2022.

The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152 percent. Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days. This is issue number 256 of the short-term...

Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country head of Maybank Islamic Dubai-DIFC.

The use of CX capabilities, digital media, predictive analytics can help banks develop personalized Shariah-compliant services, says Dubai Islamic Bank Group CEO Dr Adnan Chilwan.

The company has appointed Hisham Hammoud to the post.

Of recent, Islamic banking has been getting quite a boost from governments and financial institutions in the Gulf Cooperation Council.

The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB) being the first in the market with a US$ 2.5 bn offering. However, figures show that Sustainability and green-themed Sukuk were rising in 2021, mainly since large entities are investing...

The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers from the Covid-19 pandemic. But it may not be the case in the Europe.

Called Amwali, this digital bank is expected to serve those between the ages of eight and 18.

The Saudi Central Bank or SAMA has launched two programs to augment Islamic banking through research and translation, local reports have said. They are the Islamic Finance Research Support Program and the Islamic Finance Research Translation Program.

Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021

The report titled ‘Faith and Finance: The changing face of Islamic banking’, surveyed over 2,000 respondents globally

Khurram Hilal brings over 20 years of Islamic banking experience to the CEO position.

The Hub has a digital floor with self-service machines and digital services Customers can do card-less cash withdrawals or deposits, print account statements The Bahrain Islamic Bank — also known as BisB — has unveiled a redesign of its financial mall located in Riffa, the country’s largest city by size, it...

The new App version offers an integrated range of banking services, financial solutions KHCB is a leading Islamic bank that  offers a range of high quality Shari'a-complaint banking Khaleeji Commercial Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of a new version...