IMF Highlights Islamic Finance Instrument Development in UAE The IMF has highlighted the development of Islamic finance instruments in the UAE, stating the UAE is a major hub for Sukuk issuances. During 2001–15, $53.8 billion or 36 percent of all global sukuk issuances originated in the UAE. Report highlights are presented below. UAE Banking System Challenges The UAE has come a long way in the dev... »
Blacklist Could Curtail Free Flow of Islamic Financial Funds to UAE and Bahrain The global Islamic finance centre credentials of the UAE and Bahrain took a hit as EU finance ministers added them to a list of “blacklist” tax havens, which could mean they lose access to EU funds and face other sanctions. EU finance ministers have listed 17 countries for failing to meet agreed tax good governance sta... »
“Using Shariah non-compliance as a rationale for restructuring” The actions of Dana Gas can derail UAE and Dubai’s Islamic Finance ambitions as investors question credibility of UAE based Sharia compliance assurances. UAE based Dana Gas made a surprise announcement on 13 June, stating “due to the evolution and continual development of Islamic financial instruments and their interpretation, the Com... »
Nascent Industry Finds a Home in Dubai Alan Greenspan once described people to people contact as a key pillar to building commerce and creating economic activity. Taking the former Chairman of the Federal Reverse at his words, the gathering of individuals at the Global Islamic Economy Summit 2016 this week in Dubai would have done much to create the relationships and entrepreneurial spirit to take... »
Global Takaful Insights 2014 by EY Highlights Growth and profitability prospects for takaful operators vary significantly by markets and sectors, depending on the market’s economic maturity, industry and regulatory structure. Despite volatility in financial markets, there appears to be growth momentum in three key markets: Saudi Arabia, United Arab Emirates (UAE) and Malaysia. Acquisition of mark... »
Emirates Airline sukuk was priced lower at 2.471% as compared to Noor Bank 2.788%. »
The United Kingdom and Hong Kong push ahead with Islamic Finance ambitions. »
What role does Islamic finance play in the economies of states belonging to the Gulf Cooperation? Apparently, quite a substantial one. Research has demonstrated that Islamic finance has had a significant effect on economic growth and development in Bahrain, Qatar, Kuwait, Saudi Arabia, and the United Arab Emirates, the five countries of the GCC. About half of worldwide Islamic finance and assets a... »
The Wajaha Private Banking account from Dubai Islamic Bank (DIB) offers a comprehensive range of features and benefits for those looking for an Islamic Banking account with Private Banking services. »
