AAOIFI 14th Annual Shari’a Conference set to be held on 22 and 23 March 2015

AAOIFI 14th Annual Shari’a Conference set to be held on 22 and 23 March 2015

Press Release
Manama, Kingdom of Bahrain
17 March 2015
Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will hold, under the auspices of the Central Bank of Bahrain, the 14th edition of its Annual Shari’a Conference on 22 and 23 March 2015 in Manama, Kingdom of Bahrain.

AAOIFI and IASB organise outreach meeting with international Islamic finance industry

AAOIFI and IASB organise outreach meeting with international Islamic finance industry

Press Release
Manama, Kingdom of Bahrain
14 March 2014
Following an initiative taken by Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) a few months ago, aiming to strengthen cooperation and integration with the International Accounting Standards Board (IASB) as reflected in a high-profile visit to IASB headquarters and AAOIFI’s acceptance to be part of the IASB’s Consultative Group on Shariah-Compliant Instruments and Transactions,

EMEA Finance: "KFH" Top Islamic Bank in the Middle East

EMEA Finance: "KFH" Top Islamic Bank in the Middle East

EMEA Finance, a leading specialized economic magazine in Europe, Middle East & Africa, issued at London, grants Kuwait Finance House (KFH) 3 distinguished awards: Best Islamic bank in the Middle East, Best Islamic bank in Kuwait and best bank in Kuwait in recognition and appreciation of its accomplishments in various fields. KFH has achieved continuous growth on regional and international levels based on well-studied policies and accurate follow up of market developments. KFH continues to achieve tremendous and remarkable success in Islamic banking in local and MEA markets.


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Morocco lures Sharia cash with first Islamic bank

Morocco lures Sharia cash with first Islamic bank

Morocco is poised to have its first full-fledged Islamic bank as early as September as the only North African country rated investment grade seeks to tap the US$1.8 trillion industry.


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Luxembourg plans new sukuk in '16

Luxembourg plans new sukuk in '16

The Grand Duchy of Luxembourg is keen to issue another sukuk next year following the success of the QInvest-assisted, first euro-denominated sovereign sukuk issued in September 2014, Finance Minister Pierre Gramegna said.
Speaking to media during a roundtable discussion at the Four Seasons Hotel in Doha on Wednesday, Gramegna said, "Luxembourg wants to become a regular player in the issuance of sukuk."


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Malaysia to have syariah index

Malaysia to have syariah index

KUALA LUMPUR: Malaysia will be the first country to have a syariah index as a benchmark to determine if the country is fulfilling the objective of Islamic principles, said Prime Minister Datuk Seri Najib Tun Razak.

Najib said he informed the Umno Supreme Council that the Government would launch the Malaysian Syariah Index on Feb 10 in conjunction with the majlis perdana ulama-mubarak 2015.


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Canadian government foray into Islamic financing

Canadian government foray into Islamic financing

6-Aug-2014
Export Development Canada (EDC), an export credit agency wholly-owned by the Canadian government, recently extended a Murabahah financing facility worth US$200 million to Etihad Etisalat Company (Mobily). The deal was the first Shariah compliant financing exercise for EDC.


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Malaysian Sukuk volume driven by asset growth, funding and Basel III capital needs Islamic Finance news

Malaysian Sukuk volume driven by asset growth, funding and Basel III capital needs Islamic Finance news

For the first half of 2014, Malaysia issued RM3.25 billion (US$1.02 billion) in Sukuk, setting a record for the largest number of Sukuk issued in any year so far; a trend that is expected to continue through 2015.


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Islamic banks need to fill SME gap

Islamic banks need to fill SME gap

It might be a familiar cry, but that makes it no less important. A study released by the International Finance Corporation (IFC) in June this year highlighted once again the glaring absence of access to bank financing for small and medium-sized enterprises (SMEs), which creates a marked opportunity for Islamic banks to step in to fill the gap.


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CIBAFI Comments on CBB Islamic Banking Regulation

CIBAFI Comments on CBB Islamic Banking Regulation

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, recently announced that it has submitted its comments to the Central Bank of Bahrain (CBB) on the draft Basel 3 regulation for Islamic Banks. A regulation proposed to come into effect in January 2015. The comments on the regulation, entitled ‘Basel 3 Consultation - Rulebook Module CA for Islamic Banks (Volume 2)”, were submitted to the CBB by CIBAFI after the organisation gathered feedback on the draft regulation from Islamic Financial Institutions throughout the Kingdom.


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