Islamic banking


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Islamic banking

A form of ethical investments bound by the precepts of Islam, particularly the prohibition of interest payments.
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Duterte signs law to regulate Islamic banking !-- -- Ian Nicolas Cigaral (Philstar.com) - August 30, 2019 - 2:17pm MANILA, Philippines President Rodrigo Duterte inkeda law regulating the operations of Islamic banks in the country in a bid to unlock the full potential of Islamic financing and promote financial inclusion.
11439 signed by the President on August 22, the State recognizes the vital role of Islamic banking and finance in creating opportunities for greater inclusion especially for the underserved Muslim population.
RA 11439 allows the Monetary Board to authorize the establishment of Islamic banks in the Christian-dominated Philippines and authorizes conventional banks to engage in Islamic banking arrangements.
The two-day Specialized Training Workshop on Islamic Banking, Takaful and Islamic Microfinance organized by AlHuda Centre of Islamic Banking and Economics was successfully concluded at AMFOT, Tajikistan under the "CIS Islamic Banking and Finance Road Show" on August 1-2, 2019.
Consolidation, according to the rating agency, should ultimately be positive for the Islamic banking sector by creating larger, stronger and more efficient Islamic banks.
The Senate on Tuesday approved on third and final reading a bill authorizing the expansion of Islamic banking system in the Philippines under the supervision of the Bangko Sentral ng Pilipinas (BSP) and regulation by the Monetary Board (MB).
MULTAN -- The trend of Islamic banking increasing by 15 percents annually and almost all financial organizations are providing facility of Islamic banking.
Muscat: There are studies and discussions being undertaken to decide whether full-fledged Islamic banks in Oman could be a viable replacement for the Islamic banking windows operating currently.
KARACHI -- Profits of the Islamic banking industry increased by 48 per cent during the quarter Oct-Dec 2018, a report issued by the State Bank said on Monday.
KARACHI -- The 17-year-old Islamic banking industry has continued to emerge as a banking of choice in Pakistan.
KARACHI -- At the moment, Aitemaad with its Islamic Banking branch network of 192 branches in more than 90 cities of Pakistan which caters to its customers' needs through various Shariah compliant deposits as well as financing products.
KARACHI -- Faysal Bank has joined hands with the Institute of Management Sciences (IMSciences) department of Centre for Excellence in Islamic Finance (CEIF) for the promotion of Islamic banking through funding their project 'Islamic Banking Awareness, Scholarship, and Research'.

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