Islamic banking Archives - Page 6 of 6

Islamic Microfinance market size touches $1bn, says CEO of CIBE

International Finance DeskSeptember 2, 2013

by International Finance DeskSeptember 2, 2013

Islamic Microfinance is rapidly gaining acceptance in Muslim and Non- Muslim countries due to its remarkable performance in poverty eradication; because of which, this industry is making quick progress. Islamic Microfinance is rapidly gaining acceptance in Muslim and Non- Muslim countries due to its remarkable performance in poverty eradication; because of which, this industry is...

RBI gives nod to NBFC to launch Islamic Finance Operations in Kerala

International Finance DeskAugust 26, 2013

by International Finance DeskAugust 26, 2013

With an estimated Muslim population of 177 million, India is the largest Muslim minority in the world, but banking rules do not permit to Sharia compliant financing, which forbids the payment of interest. 26th August 2013 The Reserve Bank of India has permitted an NBFC in Kerala to run Sharia compliant finance in the country....

Senegal as the West African Hub for Islamic Finance

International Finance DeskJune 17, 2013

by International Finance DeskJune 17, 2013

Senegal’s attraction to banks rests on its macroeconomic and political stability. Senegal as the West African Hub for Islamic Finance Senegal’s banking system is one of Africa’s most competitive. Yet, there is still lot of scope for it to expand and improve due its steady economic growth and a large unbanked population. If this rise...