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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Yet Islamic financing is not consistently used in infrastructure projects.
National Australia Bank Ltd (NAB) has closed its first onshore Islamic financing deal, A$19.9 million ($14.2 million) arrangement to fund a real estate purchase by Sydney-based asset manager Crescent Wealth.
It is another step towards the development of Islamic finance in the Muslim nation which so far has been a laggard in developing a solid Shariah banking industry which just reached a five-per cent market share despite having been introduced more than two decades ago and despite various regulatory efforts and grassroots initiatives, mostly in form of Islamic financing cooperatives.
Mizuho Bank (Malaysia) Berhad, a wholly-owned subsidiary of Mizuho Bank, Ltd., has entered into a contract to provide Islamic financing to a subsidiary of Sunway Berhad, which is a listed Malaysian conglomerate.
The joint venture will continue to address the needs of the Islamic financing sector by providing students and professionals in the UAE with world-class training in the ever-growing field.
oil [law] and gas law to an Islamic financing." (135) In October 2008, East Cameron filed for Chapter 11 bankruptcy placing the future of sukuk offerings in the United States at jeopardy depending on how sukuks will function in the bankruptcy proceedings.
The lack of concurrent viewpoints makes it difficult to standardize Islamic financing. (21) Many observers view standardization of SCF regulations as important in increasing the marketablity and acceptance of Islamic products.
The recently established Islamic Finance Centre has disbursed Rs14 million among common people in first two months under Ijarah mode of Islamic financing for purchase of motorcycles and other products.
We are working on using Islamic financing instruments to support export-import transactions and fund halal projects," Gorkov said, adding that Vnesheconombank is considering a pilot deal worth $100mn with IDB.
(MHBK; Yasuhiro Sato, President and CEO), has provided Islamic financing for the first time.

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