Islamic Banking Archives

The Internet in Egypt, First Revolution now Jobs?

International Finance DeskJune 15, 2013

by International Finance DeskJune 15, 2013

E-commerce is gradually becoming a means to provide new jobs for fresh graduates in Egypt. Cairo – Today, well over two years into the Egyptian revolution, increased numbers of Egyptian youth are still struggling to find jobs. With political instability looming large, the economy receives one blow after another. Unemployment has hit new highs –...

Western governments and companies are poised to test Islamic bond markets

International Finance DeskJune 4, 2013

by International Finance DeskJune 4, 2013

The UK’s Islamic Finance Secretariat puts the value of Sharia-compliant assets globally at trillion dollars. A story surfaced in the Malaysian media last September suggesting that the ESB was planning to issue an Islamic-compliant bond, or sukuk, as part of its future funding arrangements. Sukuk are structured to pay profits or rent, rather than traditional...

UK rules unfit for Shariah Banks hinder Sukuk Growth

International Finance DeskMay 2, 2013

by International Finance DeskMay 2, 2013

“The UK is actively engaged with international regulatory counterparts both in Basel and within the EU on this issue,” Prime Minister David Cameron is looking to Southeast Asia to boost the UK’s role in Islamic finance. It is the Bank of England he needs to convince first, say Shariah-compliant lenders based in Britain. Central bank...