Association of Islamic Banking Institutions Malaysia

GIFF 2014
Prominence Of Sukuk In Turkey As An Islamic Finance Instrument
Wednesday, 23 July 2014
Turkey's first regulation for Islamic Finance was realized during the 1980s, during a period of liberalization as part of a plan to attract foreign direct investments. Interest free banking was introduced with the legalization of "special finance houses" which did not possess bank status and therefore did not benefit from banks' privileges. Read more
Bank Nizwa awarded at London sukuk summit
Tuesday, 22 July 2014
Muscat - Dr Jamil El Jaroudi, chief executive officer of Bank Nizwa , accepted another prestigious award on behalf of the bank at the recent London Sukuk Summit Awards ceremony held under the patronage of The Rt Honourable Baroness Warsi, senior UK government minister and head of the Islamic Finance Task Force. Read more
Tamkeen and BMI Bank sign extension to finance scheme Tamkeen and BMI Bank, a subsidiary of Al Salam
Tuesday, 22 July 2014
Tamkeen and BMI Bank, a subsidiary of Al Salam Bank – Bahrain, today announced an extension to their successful alliance providing Shari’ah-compliant financing for enterprises within the local private sector to fulfill their financial needs at a competitive cost. Read more
INCEIF issues rebuttal to online allegations
Tuesday, 22 July 2014
INCEIF – the Global University of Islamic Finance has issued a point-by-point rebuttal of claims made online regarding the experience and origins of its staff. In a public notice posted on INCEIF’s website on 16 July, INCEIF said it wished ‘to respond to the following allegations that are baseless and incorrect as follows…’ Read more
Islamic finance body IILM re-issues $890 mln sukuk
Sunday, 20 July 2014
(Reuters) - Malaysia-based International Islamic Liquidity Management Corp (IILM) has reissued $860 million of its three-month Islamic bond, the organisation said on Thursday. Read more
Malaysia’s Bank Islam revises base financing rate to 6.85 per cent
Sunday, 20 July 2014
Bank Islam Malaysia Bhd, the country’s largest Islamic bank has raised its base financing rate (BFR) by 0.25 per cent to 6.85 per cent with effect from Friday. Read more
New era of Islamic banking in the offing
Sunday, 20 July 2014
A PROPOSED three-way merger in Malaysia will create the world’s first Islamic bank that will have enough clout to challenge the dominance of conventional, often Western, banks in the industry and influence the way Islamic finance deals are made. Read more
IFAAS brings ‘Fundamentals of Islamic Banking and Finance’ executive training programme to Istanbul
Sunday, 20 July 2014
IFAAS announced today the dates for its best-in-class executive training programme:  The Fundamentals of Islamic Banking and Finance, Istanbul, September 15-19, which will be delivered in Arabic and English simultaneously (in 2 parallel cohorts). Read more
Dubai Chamber report highlights growing popularity of Islamic finance over conventional sector
Sunday, 20 July 2014
A report by the Dubai Chamber of Commerce and Industry based on a recent study by Ernst and Young stated that global Islamic banking assets have registered cumulative annual growth rate of about 16 per cent during the period 2008-2012, reflecting the radical shift from conventional financial system in favour of Islamic finance. Read more
Kuwait's CBK faces hurdles as it converts to Islamic bank
Sunday, 20 July 2014
Commercial Bank of Kuwait ( CBK ) was granted permission by the Central Bank of Kuwait to issue KWD 120 million (USD 425 million) in Basel III-compliant bonds, which could complicate the process of CBK converting into an Islamic bank. Read more
UAE Islamic banking assets crossed $95b in 2013
Sunday, 20 July 2014
Dubai: The UAE is emerging as a serious player in the Islamic banking market with total Islamic banking assets growing to about $95 billion (Dh348.9 billion) in 2013 compared to $83 billion in 2012, according to a report by Dubai Chamber of Commerce and Industry based on a recent study by Ernst and Young. Read more
Oman Arab Bank’s Islamic banking arm completes one year
Sunday, 20 July 2014
Muscat: 'Al yusr' Islamic banking from Oman Arab Bank (OAB) organised an iftar banquet to mark the completion of one year since its inauguration under the patronage of Eng. Mohamed Salim Al Busaidi, member of Shura Council, representative of wilayat Boushar. The iftar was held at City Seasons Hotel, Al Khuwair. Read more
Standard Chartered Saadiq inaugurates its first Islamic Banking Centre in the UAE
Wednesday, 09 July 2014
Dubai - Coinciding with the beginning of the Holy Month of Ramadan, Standard Chartered Saadiq, the Islamic Banking division of Standard Chartered Bank , inaugurated its first dedicated Islamic Banking Center in the UAE at the Al Khalidiya Branch in Abu Dhabi. Read more
Barwa opens representative office in DIFC
Wednesday, 09 July 2014
Barwa Bank, Qatar's fastest growing Shariah-compliant banking service provider, has announced the opening of a representative office in Dubai International Financial Centre (DIFC). Read more
Takaful Insurance And Quest For Financial Inclusion
Wednesday, 09 July 2014
The universal role of insurance as a key sector in the financial service system is increasingly becoming dominant and accepted even among segments of the society which hitherto believed that the practice of insurance is unethical and therefore unlawful. Read more
IDB's infrastructure fund looks to build regional links
Tuesday, 08 July 2014
(Reuters) - A new infrastructure fund from the Islamic Development Bank aims to help Gulf-based companies expand in Asia and Africa, developing stronger economic ties among these regions. Read more

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