Islamic Microfinance can eliminate the Poverty from the world

AlHuda Centre of Islamic Banking and Economics (AlHuda-CIBE) jointly with Akhuwat organizing an International Conference on Islamic Microfinance on June 13, 2011 at Faisal Masque Auditorium in Islamabad. The objective of this conference is to share the experiences and research of the seasoned scholars and practitioners of Islamic Microfinance from all over the world for ensuring poverty alleviation from the world. A variety of experiences and models in Islamic Microfinance, Shariah Principles, QArz-e-hasan, Waqf, Micro-Takaful and the use of Technology in Islamic Microfinance will be discussed and shared at the Conference.

Die Zukunft der islamischen Finanzkultur

Der Markt für Scharia-kompatible Finanzprodukte wächst und wächst. Auch in Luxemburg. Diskussionen über das Für und Wider hat man längst hinter sich gelassen. Auf dem Kirchberg diskutierten vergangene Woche Zentralbankchefs und Akademiker über Standardisierung und Regulierung.

New Egypt Eyes to Be Islamic Finance Hub

Following the overthrow of President Hosni Mubarak, prospects are rising for Egypt to become a new hub for the booming Islamic finance.

Although Egypt is considered the birthplace of Islamic finance, its growth has lagged due to past corruption scandals. Under Mubarak’s 30-year rule, the country sought to enforce a more secular financial system. But after Mubarak’s ouster in a popular revolution two months ago, prospects are rising for the country to become another thriving center of Islamic finance.

Lack of Relevant Laws Constrains Growth in Islamic Finance

With Islamic banking and insurance gaining ground in the country, there are calls for new legislation by banking and insurance regulators to enable the companies to invest in Sharia-compliant securities. Two banks – Gulf African and First Community – are operating fully pursuant to Sharia-compliant banking principles, although up to five other commercial banks are also offering Sharia-compliant banking products alongside conventional products.

Affin sees potential of Islamic banks in Indonesia

Jakarta (APBankers) Affin Holdings Bhd expects to complete the conversion of PT Bank Ina Perdana of Indonesia into a syariah-compliance bank in two years once the acquisition of the bank is completed in the second half of this year. Chairman Tan Sri Mohd Zahidi Zainuddin said the group was in the midst of getting an …

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Bank Sarasin urges a stronger focus on Islamic Financial Planning

In its second annual Islamic Wealth Management Report, Bank Sarasin urges the Islamic banking community to take a stronger focus on Islamic Financial Planning. Bank Sarasin also calls for the industry to move forward by developing the Sharia framework, diversifying products and differentiating its offerings. Islamic Financial Planning, a religious obligation requested in the Qu’ran, involves the acquisition, preservation and philanthropic distribution of wealth.