Anis HAMDANI’s Post

Some notable announcements in the global Islamic banking landscape this past month include the launch of Maybank Philippines’ new Shariah unit; the conversion of Ahli United Bank’s UK and Egypt operations into fully Islamic banks; and a Turkish financial services provider’s plan to establish a new participation bank. IFN wraps up August 2024 with the top news from the industry. https://lnkd.in/dckrfSFv #REDmoney #IFN #IslamicFinance #Finance #ShariahCompliance #Sukuk #Takaful #IslamicBanking #GlobalFinance #Fintech #HalalInvestments #FinancialRegulation #IslamicMarkets #IslamicAssets #GlobalBanking #ShariahAdvisory #IslamicEconomy #SustainableFinance

Some notable announcements in the global Islamic banking landscape this past month include the launch of Maybank Philippines’ new Shariah unit; the conversion of Ahli United Bank’s UK and Egypt operations into fully Islamic banks; and a Turkish financial services provider’s plan to establish a new participation bank. IFN wraps up August 2024 with the top news from the industry. https://lnkd.in/emT9Dvt4 #REDmoney #IFN #IslamicFinance #Finance #ShariahCompliance #Sukuk #Takaful #IslamicBanking #GlobalFinance #Fintech #HalalInvestments #FinancialRegulation #IslamicMarkets #IslamicAssets #GlobalBanking #ShariahAdvisory #IslamicEconomy #SustainableFinance

The World Bank Group (WBG) launched the guarantee platform yesterday, consolidating all guarantee products and experts from across the World Bank Group institutions (World Bank and IFC - International Finance Corporation) at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform will provide three types of coverage: credit guarantees for loans to the public or private sector, trade finance guarantees for trade finance projects involving public entities, and political risk insurance against non-commercial risks for private sector projects or public-private partnerships. It aims to boost WBG annual guarantee issuance to $20 billion by 2030. Read more> https://lnkd.in/evPnzTH4 #Guarantees

DMCC Signs Strategic Partnership with #PalestineIslamicBank to Elevate #IslamicFinance Solutions Through its #Tradeflow Platform - DMCC’s Tradeflow to enhance Islamic finance solutions in Palestine, supporting businesses and individuals in need of secure financing options - The MoU reflects DMCC’s broader commitment to fostering innovation, sustainable growth and financial inclusion across markets DMCC has signed a Memorandum of Understanding (MoU) with the Palestine Islamic Bank (PIB). This partnership will facilitate secure Shariah-compliant transactions through the DMCC Tradeflow platform, addressing the growing demand for Islamic finance solutions in Palestine. Through this partnership, DMCC aims to extend its Tradeflow platform’s capabilities to provide tailored financial products that are Shariah-compliant. This agreement not only supports DMCC’s broader mission to expand its trade finance offerings globally but also addresses critical trade finance gaps. With a strong focus on Shariah-compliant banking, PIB is a prominent leader in the digital transformation of Islamic financial services in the region. The bank has established the largest Islamic banking network in Palestine, comprising 43 branches and over 100 ATMs. Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said: “DMCC’s partnership with Palestine Islamic Bank marks another major step in our efforts to advance and support Islamic finance in the region. With over 164,000 Islamic transactions recorded last year through DMCC’s Tradeflow platform holding an underlying value of AED 1.91 trillion,.... https://bit.ly/3MUahf8 DMCC (Dubai Multi Commodities Centre) #Dubai #Banking #Palestine #UAE #GCC #MiddleEast

𝗜𝘀𝗹𝗮𝗺𝗶𝗰 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗚𝗖𝗖: 𝗔 𝗦𝘁𝗲𝗮𝗱𝘆 𝗖𝗹𝗶𝗺𝗯 𝘁𝗼 𝗣𝗿𝗼𝗺𝗶𝗻𝗲𝗻𝗰𝗲🏦 Comparing the percentages of Islamic Banking (I.B.) in each country to the total banking market share, shows that I.B. has firmly established itself as a mainstream financial force in the GCC. This reflects the growing demand for Sharia-compliant products due to its ethical and risk-averse principles. Ongoing efforts set to enhance the accessibility of Islamic financial products are being made like: - Standardizing Sharia interpretation - Streamline Sukuk issuance 📈 With the GCC at the forefront, Islamic banking's expansion is becoming an integral part of the global financial ecosystem, making it more inclusive and ethical financial future. #IslamicBanking #GCCFinance #ShariaFinance #IslamicFinance #Sukuk #ThoughtLeadership #Sustainability #ESG Sahil Anand | Ramkumar Venkataraman | Chetan Parekh | Ramakrishnan Viswanathan | Divya Shah | Pankul Verma | Angleen Malik | Aditya Agarwal | Robin Amlôt | Ojas Kulkarni | Amit Jain | Nikhil Gokhale | Subit Saurav |

Islamic banks in the AIFC 💡 Looking to venture into Islamic banking at AIFC? Our handbook provides a complete guide to establishing an Islamic bank, including authorisation requirements and navigation on the procedures. 📑 👇 Download it now and share it with your community! Got questions or want more insights? Comment below, and we’ll address them in our future content. 📥 For additional information, contact Madina Tukulova, Head of Islamic Finance, at ✉[email protected]. #islamicfinance #AIFC #Business #Kazakhstan

Thoughts in this week's Islamic Finance News cover ''A tired tune: Shariah banking liquidity woes persist" “Islamic interbank markets are much shallower than conventional markets, more so in countries with few Islamic banks,” according to Bashar Al Natoor, the global head of Islamic finance at Fitch Ratings. For the full story published originally 16th April 2024 (Volume 21 Issue 16): https://lnkd.in/dtdsj2ne Islamic banks in many countries continue to face a limited range of Islamic liquidity management instruments (ILMI) compared with conventional banks despite recent initiatives in a number of markets, Fitch Rating says. ILMI can provide Islamic banks more funding options and can help them invest their excess liquidity. Gaps in ILMI are more prominent in countries where Islamic banking is still-developing and niche. From more on our views on Islamic banks liquidity see our comment titled ''𝕀𝕤𝕝𝕒𝕞𝕚𝕔 𝕃𝕚𝕢𝕦𝕚𝕕𝕚𝕥𝕪 𝕋𝕠𝕠𝕝𝕤 𝕃𝕚𝕞𝕚𝕥𝕖𝕕 𝔻𝕖𝕤𝕡𝕚𝕥𝕖 𝕀𝕟𝕚𝕥𝕚𝕒𝕥𝕚𝕧𝕖𝕤 𝕚𝕟 𝕊𝕠𝕞𝕖 𝕄𝕒𝕣𝕜𝕖𝕥𝕤": https://lnkd.in/dTeuX_CH ➖🌐⬇️ 𝕱𝖔𝖗 𝖒𝖔𝖗𝖊 𝖔𝖓 𝕴𝖘𝖑𝖆𝖒𝖎𝖈 𝕱𝖎𝖓𝖆𝖓𝖈𝖊: https://lnkd.in/fucmrFT ➖#️⃣⬇️ #islamicfinance #sukuk #islamicbanking

Islamic Finance News: 1. Islamic banking and finance is emerging in CIS Countries (ZAWYA, April 23). 2. Islamic Development Bank Institute working closely with Azerbaijan to develop Islamic finance regulatory framework … (Trend News Agency, April 27). 3. BisB Gold sponsors 22nd AAOIFI Annual Conference | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN (News of Bahrain, April 29). 4. Islamic banking gets traction in Africa as Salaam Bank feted (The Standard, April 27). 5. Sustainable Sukuk market guidance launched by ICMA, IsDB, and LSEG (Fintech Global, April 29). 6. Jazz closes Rs. 15billion Sukuk to advance its 4G for all digital agenda (Associated Press of Pakistan, April 29). 7. Govt picks Rs99.19billion through Sukuk auction via PSX against a target of Rs100billion (Mettis Global, April 25).

The Islamic banking sector demonstrated exceptional strength and growth in 2023, representing an impressive 70.21% of the global Islamic financial services industry assets, as highlighted in the Islamic Financial Services Board (IFSB) Stability Report 2024. By the conclusion of Q4 2023, Islamic banking assets soared to US$2.37 trillion, marking a substantial year-on-year expansion of 7.21%. This upward trajectory was supported by a significant 7.92% increase in deposits and a 5.97% uptick in financing activities. Explore more insights in today's column on "Navigating new frontiers: Islamic banking's milestones and future trends”. The link of the article: https://lnkd.in/gH9ET2WP #islamicbanking #islamicfinance

Digital Transformation in Islamic Banking and Finance