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Islamic Finance
Islamic Finance sets post-crisis standard
Islamic finance is a fast-growing phenomenon. As ambiguity continues to muddy traditional markets, Islamic law-compliant financial schemes and their risk sharing structure are progressively seen as the worthy alternative to traditional Western mechanism
Many believe that Islamic finance exemplifies the light at the end of the tunnel in this plethora of market instability. The state of the global economy and the European sovereign debt crisis has led copious Western investors to increasingly turn to the i...
Global demand for Islamic Finance model
Qatar International Islamic Bank’s continued search for excellence has progressed so much it has been recognised as a leader in its field
Qatar International Islamic Bank’s (QIIB) continual pursuit of excellence in servicing its customers through the sustained growth and development of its Sharia-compliant products, services and distribution channels, has been recognised by World Finance ...
JIB on the community ideal of Islamic finance
150,000 people benefit from Jordan Islamic Bank’s SME loan services. The Islamic finance model is helping to address Jordan’s
unemployment and poverty issues, writes Lyndon Driver
Jordan Islamic Bank (JIB) was established in 1978, as a public shareholding limited company with the mandate of providing a range of banking services including corporate, personal, business and SME banking, financing and investment business operations in ...
Islamic mortgages offer fresh alternative
Increasingly popular Halal products have become more and more appealing, offering well-considered and amiable rates
Islam forbids usury to the followers of the religion; from the Quran, “O ye who believe, keep your duty to Allah and relinquish what remains (due) from interest, if you are believers.” Therefore, for Muslims wanting to purchase property, a traditional...
Muthanna Investment: The challenges of GCC banking
The sector is tentatively re-establishing itself after
three confidence-sapping years
The GCC banking sector has emerged as a more positive sector, despite its ties to the real estate and investment sectors across the GCC. With the exception of Oman, the banking industry recovered from its two-year losing streak, aided by governments’...
Shariah law gains prominence
Islamic financial institutions – such as the Muslim Arbitration Tribunal – and the Shariah law they ascribe to, are gaining more importance within international commerce
Shariah law is a code or concept that is important to adherents of Islam. Considered to be the laws of God that determine what is right in terms of both personal conduct and the way that businesses and governments operate, the underlying purpose is to ens...
Looking ahead with the world’s first Islamic bank
Nearly 40 years ago, Dubai Islamic Bank pioneered the concept of Islamic banking. Today it competes on an equal basis with the world’s largest conventional financial institutions
In 1975, history was created when Dubai Islamic Bank (DIB) became the first modern commercial Islamic bank in the world. Before this, customers had no choice but to use conventional banks for all their financial requirements. By incorporating Sharia princ...
Global Takaful provider valued for innovation
FWU Group is raising the performance bar with innovative ways of responding to market conditions, writes Sohail Jaffer
FWU Group is a leading independent financial services group, founded in 1989, focusing on innovative and customised product design in the field of unit-linked investments and family takaful investment-linked plans for international markets. It has signifi...
The unlikely hero
The attraction of Sharia-compliant finance is largely in its ethos, writes Tessa Albrecht
At a time when the conventional lending system is going up in flames, a quiet yet fast-growing segment of the financial services industry is emerging from the embers as the hero the industry desperately needs. It’s always the quiet ones; yet the pote...
A leader in innovative Islamic Banking
BAJ is one of the fastest growing Sharia-compliant financial corporations in Saudi Arabia,
as evidenced by its rapid growth in deposits, offerings and customer reach channels
BAJ commenced its business in 1976 – one of the few banks operating in Saudi Arabia at the time. In 1998, BAJ’s management took a strategic decision to convert its methods from conventional to Sharia-compliant banking. This change can be described as ...
Top 10
Zimbabwe
234.1% of GDP, pariah of debt markets, but with hopes for a healthy twelve months ahead
Japan
197.5%, hard-hit by the tsunami, and reeling from the internal corruption allegations
Greece
142.8%, possibly heading for default, and considered one of many eurozone bad boys
Lebanon
133.8%, deceptively, has a strong banking sector, but little more in an ailing economy
Iceland
126%, hopelessly indebted banks and very little light at the end of a long and gloomy tunnel
Italy
119% of GDP, in need of reform, paying over 7% for its debt thanks to technocratic leadership
Singapore
106%, to many an idyllic investment destination, a great borrower, repayer, and long term option
Belgium
101%, no government for most of 2011 didn’t help a weak economy in dire need of stimulus
Egypt
90%, high but it’s recovering from a long and protracted revolution and aiming high
European Union
82%, stronger countries like Germany are contaminated by the weakest. It could go on…
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