Shariah-compliant stablecoin PUSD to be deployed at ADI Chain
PUSD holds approximately USD 2.3 billion in circulating supply. Each token is backed 1:1 by reserves held in Saudi riyals and UAE dirhams...
Tag : Islamic banking
Iran war presses the requirement for Islamic derivatives, says Fitch
Key barriers to the wider adoption of Islamic derivatives include sharia restrictions, infrastructure gaps and OIC's still-evolving financial systems...
Turkey to merge its state-owned Islamic banks, announces Erdogan
Ziraat Katilim, Vakıf Katilim, and Halk Katilim banks would be consolidated, with the goal of creating "significant synergy" in the Islamic financial sector...
Amid headwinds, Islamic banking advocates broader capital distribution
Islamic banks' historical tendency of maintaining a largely domestic and narrow focus often leaves them more exposed during regional crises...
Oman’s Islamic banking reorients itself to financing “Vision 2040” tasks
As per Hussain al Lawati, CEO of the Development Bank, Islamic finance in Oman has transformed from a late entrant into a substantial component of the Sultanate’s banking system...
Amid strong demand, Russia to expand its Islamic banking programme
Russia's Islamic banking pilot initiative relies on leasing, instalment sales, profit-sharing arrangements and asset-backed financing...
Sukuk issuance rises by 13.1% in GCC, Saudi Arabia leads the show
The Middle East witnessed a significant 13.1% hike in its Sukuk issuance, driven by strong local-currency borrowing in Saudi Arabia...
Despite a productive Q1, Iran war looms large on Islamic banking
The ongoing geopolitical instability has resulted in GCC sukuk issuers from Qatar and the UAE being put on Fitch Ratings' Rating Watch Negative list...
Islamic syndicated financing rises amid Iran war, says Fitch
As per Fitch, Islamic syndications now make up half of all the syndication issuance in the Gulf region...
UAE, Philippines target Islamic banking growth
While the UAE has consolidated its position in the Islamic banking space, the Philippines has been opening up the sector to its domestic economy...