Islamic finance seems to be starting to be implemented in Russia, although by very careful steps. The potential size of the market has received various estimates, from a modest 10 percent of the practicing Muslims to the whole ethnic Muslim population of more than 30 million, or even more. However, it is understood by experts that the demand of the population would definitely not be the leading factor in the development of this sphere: It is more about business preferences with regard to ethical aspects. (more…)
On 9 June 2010, In Alternative Investments, Islamic Finance, By staff
On 11 March 2010, In Alternative Investments, Family Office and Wealth Management, Hedge Funds, Islamic Finance, Private Equity, Real Estate and Property, By staff
Politicians, Bankers, Real Estate Agents, and members of the global financial community will convene in Toronto at the inaugural Usury-Free Association of North America (UFANA) conference on March 30th and March 31st at Sheraton Centre Hotel in downtown Toronto.
Leaders from the world’s business community are descending upon Toronto for a two day conference sure to satisfy and peak the insatiable appetite for Islamic Finance across the globe.
The conference comes on the heels of three major studies: Islamic Finance in North America 2009 report by Yasaar Media, Zawya Sukuk Report and the January 2010 release of the Canada Mortgage and Housing Corporation (CMHC) study that notes most forms of Islamic financing, including Shari’ah-compliant mortgages, would pose no concluded hurdles if widely offered in Canada. The latter report, by the law firm Gowling, Lafleur Henderson LLP, found no legal impediment to the practice becoming more common. “Islamic financial products should not present any particular difficulties under Canadian accounting standards,” states the study. (more…)
On 17 January 2010, In Islamic Finance, By staff
Bay salam
A sales contract where the price is paid in advance and the goods are delivered in the future, provided that the
characteristics of the goods are fully defined and the date of delivery is fixed. (more…)
On 17 January 2010, In Islamic Finance, By staff
Now entering its 3rd year, the Islamic Finance news Roadshow is preparing for a longer and stronger series of events. (more…)
On 8 January 2010, In Islamic Finance, By staff
While not being here in person, most certainly I am here in the commitment to this conference on Islamic finance, organised by Banca d’Italia, to speak on the subject of Islamic finance from the perspective of a Central Bank. As the international financial markets and the global economy recover from the repercussions of the financial disruptions and dislocations that have occurred in the major financial systems, there have been wide ranging proposals to strengthen the foundations for financial stability, and reviews of the existing institutional arrangements in the international financial system.
http://www.bancaditalia.it/studiricerche/seminari/2009/islamic_finance/Aziz.pdf
