Islamic Finance and Economics

Italy Arrests of IS Funders Indicates Extensive Islamist Terror Network

July 14, 2021

Italian state officials’ arrest of four individuals charged with funds collections and transfers to IS militants in countries such as Germany, Jordan, Serbia, Thailand, Turkey, and Russia, points to the robust, extensive Islamist terror financing networks operating across Eurasia.
Central Asia Is Positioned as Emerging Regional Hub for Islamic FinTech

July 14, 2021

Central Asia is positioned as an emerging regional hub for Islamic financial technolgy (fintech), given that the region’s OIC (Organization of Islamic Cooperation) member-states are keen on combing sharia finance and banking with digitization to accelerate economic development that can leverage the region’s geopolitical advantages.
Indonesia Introduces Official University Curriculum on Islamic Economics & Finance

July 05, 2021

Indonesia’s National Committee for Islamic Economy and Finance (KNEKS) is implementing a standardized curriculum on Islamic economics and finance across the secular and Islamic university system, toward the strategic goal of making the country a leader in the $2.2 trillion global sharia economy.
Brit Asset Manager Launches $1Bn Sharia-Compliant Fintech Private Equity Fund

June 30, 2021

UK asset manager Ethost plans to raise $1billion pounds in what international finance markets anticipate as the world's largest sharia-compliant financial-technology (fintech, including blockchain, robotics, and cyber securities industries) private equity fund.
Egypt’s Parliament Approves Move into Sharia Finance Market

June 25, 2021

Egypt’s parliament approved the MENA (Middle East and North Arica) country’s move to enter the $2.7 trillion international Islamic finance market with an issue of government-guaranteed Islamic bonds to finance national development and infrastructure.
Cryptocurrencies Politicized by Islamic Scholars

June 23, 2021

According to bitcoinmarketjournal.com, financial prediction about the growth of digital assets among the world’s 1.8 billion Muslims remains uncertain for the near term future due to the fact that the position of Bitcoin and other digital assets in Islamic finance remains largely dependent on Islamic cleric’s rulings on sharia copatability.
Saudi Aramco Raises $6 Billion in First-Ever Islamic Bond Sale

June 23, 2021

Saudi Arabian energy giant Aramco announced $6 billion raised in the company’s first-ever, dollar-denominated islamic bond offering, as the oil giant used sharia-compliant/compatible debt to fund an annual $75 billion dividend commitment by appealing to investors committed to Islamic economic principles.
Germany’s Caizcoin Takes Sharia Finance Global

June 15, 2021

According to Yahoo Finance, Caizcoin, a Germany-founded sharia-compliant cryptocurrency, aimed at marketing to both Muslims and non-Muslims, has been approved for listing on the Uniswap platform that is part of the nearly $4 billion blockchain technology market, expanding Islamic finance into the global cryptocurrency marketplace.
Growth for Islamic Banking in GCC Member Bahrain

June 14, 2021

Big Three credit ratings agency Fitch forecasts robust growth in Islamic banking in Gulf Cooperation Council (GCC) member Bahrain, an Islamic monarchy regime that is headquarters for the Organization of Islamic Cooperation’s accounting and auditing Central Sharia Board to establish the country as a global financial hub.
Islamic Finance Grows in Canada with Launch of First Sharia-Compliant ETF

May 26, 2021

Islamic financial services are expanding in Canada to meet the demands of the North American country's rapidly growing Muslim population, with the launch of a sharia-compliant/compatible exchange traded fund (ETF) on Canada's New Stock Exchange (NEO).