The State Duma, the Russian parliament's lower chamber, on July 19 approved in its final reading a bill allowing an experiment to introduce the Islamic banking system in the country's four mostly ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This initiative focuses on the key principles of Islamic banking, laying ...

Professor Isa Ali Ibrahim Pantami has called on Islamic financial institutions to play the lead in driving the global digital economy growth, stressing that the ethical principles of Islamic banking ...

In this model of banking, the business is not left to bear the loss alone. The bank also bears the profit or loss with the customer. The Islamic financial system is a unique financial system that is ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This marks a major milestone following last year’s announcement of Tuum’s ...

Tuum, the core banking provider, announced the launch of its foundational Islamic Banking and Finance solutions, marking a key milestone towards delivering comprehensive, Sharia-compliant financial ...

"It comes to the parallel functioning of the traditional and Islamic banking sectors, as has already been implemented in Malaysia, Kazakhstan, and Azerbaijan," Deputy Economic Development Minister ...

Fitch noted that Islamic banking assets grew at a faster pace than conventional banking, reinforcing the sector’s rising importance within Malaysia’s financial system. PETALING JAYA: Malaysia’s ...

Dr Umer Chapra, a renowned international scholar on Islamic banking and economics, has said that Islamic banking refers to a system of banking or banking activity that is consistent with the ...

Standard Bank Shari’ah Banking has emerged as the driving force behind the growth of Islamic finance in South Africa and is positioning itself as a strategic platform for Shariah-compliant banking ...

Qatar International Islamic Bank is a commercial bank, which offers personal and corporate Islamic banking solutions. It operates through the following segments: Corporate Banking, Personal Banking, ...

On January 14, a Bangladesh Bank (BB) letter announcing a “haircut” on deposit profits (no profit on deposits) for the five merged Islamic banks for 2024 and 2025 took depositors by surprise.