Our Mission is to provide Muslims world wide with useful and practical information about Islamic investment, Islamic banking, Islamic finance, and Islamic insurance consistent with their beliefs and values.
Our vision is to help Muslims help themselves, help each other and help others by growing their wealth, and serving their financial needs in an Islamically Correct® way.
On this site you can:
Although the principles of Shari'ah require banks and financial institutions to be structured on an interest-free basis, this does not mean that such institutions are charitable concerns. As long as a person advancing money expects to share in the profits earned (or losses incurred) by the other party, a stipulated proportion of profit is legitimate.
Why are people continually surprised to discover that money is "just" meaning? Mutual Life, Limited spends time among those who, in acknowledging the fictions of finance, are making money anew. It documents ongoing efforts to remake money and finance by Islamic bankers who seek to avoid interest and local currency proponents who would stand outside of national economies. It asks how alternative moneys both escape and reenact dominant forms of money and finance, and reflects critically on their broader implications for scholarship.
This book provides an overview of the practice of Islamic finance and
the historical roots that define its modes of operation. The focus of
the book is analytical and forward-looking.
It shows that Islamic
finance exists mainly as a form of rent-seeking legal-arbitrage. In
every aspect of finance - from personal loans to investment banking,
and from market structure to corporate governance - Islamic finance
aims to replicate in Islamic forms the substantive functions of
contemporary financial instruments, markets, and institutions.
The central bank governor has hinted that a guideline on Islamic banking is being considered in Bangladesh.
“Time has come to formulate an Islamic banking guideline,” Salehuddin Ahmed told the launching ceremony of Islamic banking brand by Standard Chartered Bank in Dhaka.
He urged the Islamic thinkers, economists and bankers to come forward to outline such a guideline.
Standard Chartered Bank has launched its new Islamic banking brand, Saadiq, offering a range of Shariah-compliant financial solutions.
The Bahrain-based Islamic banking conglomerate, Al Baraka Banking Group (ABG), said Saturday that it had received Syrian approval to establish a subsidiary bank with a capital of 100 million dollars.
The bank, which will be known as Al Baraka Bank-Syria, will provide full Islamic banking products and services for both private individuals and companies through a network of branches in Syria's main cities.
Fortitude Capital Sdn Bhd, a fund manager, is teaming up with Kuwait's Islamic investment group Al-Aqeelah to set up a Takaful company in Syria.
The two parties signed a memorandum of understanding here yesterday towards forming the joint venture in that country by early next year.
It will be Al-Aqeelah’s first Takaful operations. Al-Aqeelah also announced the appointment of Fortitude Capital chairman and Malaysia-Syria business council chairman as its representative in Asia.
Dr. Mahmoud El Gamal is a researcher on Islamic Economics at Rice University. He has some insights into the abuse of the term "Islamic" when attached to economics, finance and banking.
A paper by Mohammed Amin, Price Waterhouse Coopers.
For several decades, Islamic finance has been growing rapidly in the Muslim world, particularly in the Middle East and Malaysia. In view of the importance of the major western financial centres such as London, New York, Frankfurt and Tokyo, Islamic banks headquartered in Islamic countries find that they need to have operations in these western financial centres. More recently, as the Muslim populations of western countries have increased, they have a desire to access Islamic financial services themselves.
The international Centre for education in Islamic Finance or INCEIF and the Tadhamon international Islamic Bank co-organized a Forum entitled The Islamic Financial Services industry: The Next Big Wave. The Forum, held at the Movenpick Hotel, was well attended by about 100 guests comprising staff of the Central Bank of Yemen, Islamic and conventional banks, insurance companies, scholars and members from the University fraternity in Sana’a.
Qatar Islamic Bank is planning the first securitisation by a bank in the Middle East.
Qatar’s largest Islamic bank and the Gulf’s fourth largest Islamic lender by market value has hired Kuwait-based Islamic investment bank Rasameel Structured Finance Company and an international investment bank, which it did not name, to advise on the deal.
QIB’s securitisation aims to serve the bank’s overseas expansion plans.
