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All Stories: Islamic finance

Sukuk: Structure and Function in Islamic Finance

With the fast-changing times in global finance, Sukuk, popularly known as Islamic bonds, have become one of the pillars of Islamic finance as a...

Pakistan launches Green Sukuk for sustainable finance

ISLAMABAD: The Government of Pakistan has achieved another milestone in its sustainable finance journey with the launch of its first Green Sukuk Pakistan. This groundbreaking...

CDNS enters Islamic finance market

The National Directorate of National Savings (CDNS) has entered in the Islamic finance market in the current month of May 2022, and will now...

New digital exchange seeks to host Islamic finance startups

NEW YORK: A new digital exchange aims to attract listings from sharia compliant financial technology startups, as part of a growing number of firms...

IMF to add Islamic finance to market surveillance in 2019

The International Monetary Fund (IMF)  will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation...

External sharia audits gain traction in Islamic finance: study

KARACHI: External sharia audits are gaining support in Islamic finance as consumers and regulators seek more transparency and accountability, a study has found. Islamic banks...

Pakistan approves sharia advisory board to boost Islamic finance

KARACHI: Pakistan’s securities commission has approved a four-member sharia advisory board to oversee Islamic financial products in the country, as the regulator looks to address credibility concerns which still haunt the industry.

UAE banks discuss plan for centralised Islamic finance board

ABU DHABI: The United Arab Emirates' bank industry association has discussed a proposal to create a centralised sharia board that would monitor Islamic banking, which could spur the growth of the industry.

IDB puts Islamic finance on AIIB drawing board

SARAJEVO: The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reuters.

Islamic loan books shift towards profit-sharing in Indonesia, Pakistan

JAKARTA/ISLAMABAD: The make-up of Islamic banks' loan books is changing in Pakistan and Indonesia with the growing use of profit-sharing contracts that could help Islamic finance win more customers in the two largest Muslim-majority countries.

Bank Islami plans to buy KASB Bank for nominal fee

KARACHI: Bank Islami Pakistan, the country's second-largest full-fledged Islamic bank, said it would submit plans on Wednesday to buy troubled lender KASB Bank Ltd for a nominal fee.

Islamic finance body IFSB launches industry indicators

KUALA LUMPUR: The Islamic Financial Services Board (IFSB) has launched a databank of industry indicators covering 15 member countries, helping shed new light on the size and shape of the sharia-compliant banking sector.

Dar pledges support for Islamic finance centre

KARACHI: Federal Finance Minister, Ishaq Dar on Wednesday expressed pleasure over the efforts being swiftly expedited to create the Centre of Excellence for Islamic finance education that was announced last year.

ADB steps up Islamic finance efforts, eyes infrastructure

DUBAI: The Asian Development Bank (ADB) is stepping up efforts to assist member countries to use Islamic finance in areas such as infrastructure financing, ranging from technical assistance to providing credit guarantees, an ADB official said.

SBP extends FICF proposal submission deadline to March 5

ISLAMABAD: State Bank of Pakistan (SBP) on Wednesday extended the deadline for submission of proposals under Financial Innovation Challenge Fund (FICF) 3rd round on 'Promoting Excellence in Islamic Finance' up to March 5, ARY News has learnt. 

Pakistan issues sukuk rules as corporate issuance revives

ISLAMABAD: Pakistan's capital market regulator has published long-awaited rules for the issuance of sukuk, or Islamic bonds, as part of efforts to strengthen governance and broaden their appeal to investors.

Credit guarantees look to widen Islamic finance landscape

ISLAMABAD: Credit guarantees are gaining traction in Islamic finance, helping a wider range of firms to tap the market for sharia-compliant debt, which remains stubbornly reliant on sovereign and quasi-sovereign issuers.

Islamic finance looks to outgrow bad habits as it expands

KARACHI: After a year of landmark deals which are opening new markets for Islamic finance, the industry is under fresh pressure to address some of its shortcomings and prove that it is not just an imitation of conventional finance.

Bank Islami plans capital-boosting sukuk

ISLAMABAD: Bank Islami Pakistan, the country's second largest full-fledged Islamic bank, plans to raise 3.5 billion rupees ($34.8 million) via subordinated sukuk, a bank official said.

SBP rolls out second media campaign to boost Islamic finance

ISLAMABAD: State Bank of Pakistan (SBP) is launching a second phase of a mass media campaign designed to raise awareness and acceptance of Islamic finance among consumers in the world's second most populous Muslim country.
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