All questions Common structures The great majority of Islamic banks and Islamic windows in Oman are domestic. There are currently two fully fledged Islamic banks, Bank Nizwa and Alizz Islamic Bank. Additionally, at the time of writing, there were six Islamic banking windows of conventional banks in Oman: Meethaq Islamic Banking (Bank Muscat), Muzn (National…
The New York Times has been forced to scrutinise its reporting on Islamic State (IS) in a popular podcast about the terror group, after a source was charged with lying about his experience. Canadian Shehroze Chaudhry, 25, was arrested by police on Friday, and stands accused of hoax-terrorist activity.
Abu Dhabi Islamic Bank (ADIB) revealed on Wednesday that it had completed a transaction on TradeAssets, a trade finance marketplace powered by distributed ledger technology. In doing so, the bank became the first Islamic bank to transact on DLT at a time when financial institutions in Islamic nations are steadily building on the technology.
Tomorrow marks the final day of Power Week leaving only a few hours for firms to reap the benefits of the campaign. As part of Aberdeen and Grampian Chamber of Commerce’s North-East Now initiative, the Power Week was launched to allow city and shire firms the opportunity to boost their exposure online and proclaim: The…
Conversations around sustainability are more prevalent than ever. And if, like me, you’re one of the two-thirds of people in the UK that admit to being more aware of the impact of climate change than they were a year ago,* you may be looking at which areas of your life you can transform to become…
The government has announced plans for Britain to issue a £200m Islamic bond in a bid to attract new money to London. The bond will be aimed at institutions, but there are Islamic finance products available to regular savers, investors and homebuyers. Here us a guide to how sharia-compliant funds and mortgages work.
After the two 17-year-olds noticed that coronavirus lockdown had led hundreds of families in their community to struggle, they wanted to do something to help. With schools and play areas being forced to close, there was an overwhelming need for families to provide affordable entertainment and fun for their children.
Islamic finance is reinforcing the UK’s position as a global financial hub, says Amir Firdaus, chief financial officer of the UK’s oldest and largest Islamic bank, Al Rayan Bank. The UK has a long-standing reputation as one of the world’s most important and innovative financial centres.
The economic shutdown resulting from the COVID-19 pandemic across countries, has caused a huge impact on various industries which are cutting down production and jobs due to diminishing demand and cash flow constraints. The Islamic finance industry is not spared. Before the pandemic, there has been a steady growth in demand for Shariah-compliant products and…
Moreover, with major global equity indices having dropped by over 30% in the last 3 weeks, and given that a considerable number of investors may turn to long-term investment opportunities, the broker has decided to offer swap-free accounts to all its clients with long-term strategies on indices. This measure will cut overnight fees on indices,…