Islamic banking News Monitoring

SBP makes key revisions to Minimum Profit Rate requirements, Islamic banking guidelines

In a major development for the banking sector, the State Bank of Pakistan (SBP) on Tuesday announced that the Minimum Profit Rate (MPR) requirement will no longer apply to financial institutions, public sector enterprises and public limited companies. …

Total assets of Islamic banking sector in Oman increase by 14.9%

[Sun, 24 Nov 2024 08:49:06 +0300] Muscat - Saba: The total assets of the Islamic banking sector in the Sultanate of Oman increased by 14.9 percent by the end of September 2024 to reach about 8.2 billion Omani riyals, or 18.7 percent of the total assets of …

Islamic banking in Egyptian market increases to EGP 1.080trn in September 2024

The Egyptian Islamic Finance Association (EIFA) reported that the volume of Islamic banking in the Egyptian market, including sukuk, surged to EGP 1.080trn in September 2024, reflecting a remarkable growth rate of 67.5% compared to September 2023. This …

SBP revises Shariah Governance Framework for Islamic Banking Institutions

The State Bank of Pakistan (SBP) has revised the Shariah Governance Framework (SGF) to advance the Islamic banking industry and strengthen its compliance with Sharia principles. In a circular issued on Friday, the SBP directed Islamic Banking Institutions …

Islamic banking sector on the rise: RO 8.2 billion in assets as of September 2024

Sharia governance framework for Islamic banking revised

KARACHI: The State Bank of Pakistan (SBP) has revised the Sharia Governance Framework to develop the Islamic banking industry and play a more significant role in Sharia-led banking. The State Bank issued a circular on this subject on Friday and asked …

Khaleeji Bank launches promotional stand at City Centre Bahrain

Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the launch of a distinguished promotional stand at City Center Bahrain, which will be present between 25th – 30th November 2024. This represents an exceptional …

Islamic Banks to Pay 75% of Gross Yield as Profit on Savings: SBP

The State Bank of Pakistan (SBP) has decided that Islamic Banking Institutions (IBIs) shall pay profit on their PKR saving deposits (excluding deposits of financial institutions, public sector enterprises, and public limited companies) equivalent to at …

Malaysian banks leverage advanced technologies to fortify defences against fraud

KUALA LUMPUR: Malaysian banks are leveraging advanced technologies to combat fraud and safeguard accounts, reinforcing customer confidence in a rapidly changing financial landscape. Recognising the importance of a collective effort to combat financial …

Maybank’s Q3 net profit rises 7.6% to RM2.5 billion

MAYBANK’s net profit for the third quarter ended Sep 30, 2024, amounted to RM2.5 billion (S$770 million), up 7.6 per cent from RM2.4 billion in the previous corresponding period. The group’s earnings per share for the quarter stood at 21.04 sen, up from 19 …

Abu Dhabi Islamic Bank plans to lower carbon emissions by 49% by 2030

The Abu Dhabi Islamic Bank (ADIB) headquarters. — Supplied photo Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, announced on Monday that it intends to achieve carbon reduction of 49% in its operational emissions by 2030 compared …

ADIB sets sector specific financed emission reduction targets for 2030

Abu Dhabi Islamic Bank (ADIB) has published its first comprehensive Net Zero report, outlining the bank’s journey towards reducing carbon emissions across its operations and financed emissions. With this report, ADIB becomes the first commercial Islamic …

New SBP Guidelines Restrict Shariah Board Members to Single Islamic Bank

State Bank of Pakistan (SBP) has revised the terms and conditions for the appointment of Shariah scholars for Islamic banks and Islamic banking divisions keeping in view the expansion of the Islamic banking industry. According to the updated Shariah …

Oman: Islamic bank total assets increase by 14.9%

MUSCAT: The total assets of the Islamic banking sector in the Sultanate of Oman increased by 14.9 per cent by the end of September 2024 to reach about RO 8.2 billion, or 18.7 per cent of the total assets of the Omani banking sector, compared to the same …

ADIB becomes the first Islamic bank in the region to set sector specific financed emission reduction targets for 2030

(MENAFN- Edelman) Abu Dhabi, UAE; 25 November 2024: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, has published its first comprehensive Net Zero report, outlining the bank’s journey towards reducing carbon emissions across its …

Finance: Elimination of riba — tangible goal or pipe dream?

The recently passed 26th Amendment to the Constitution has sparked heated debates, especially concerning its potential to curb judicial powers. However, amid the fervour over the changes, there is one provision that has largely flown under the radar: the …

Southeast Bank opens 16 agent banking outlets

Southeast Bank PLC. formally launched 16 (Sixteen) Agent Banking outlets - “Shagotom” to facilitate the unbanked people across the country, specially at the rural and semi-urban areas at Coxs bazar, Cumilla, Dhaka, Faridpur, Gazipur, Jhalokathi, Khulna, …

Ninth Islamic Finance Forum of South Asia kicks off in Colombo today

The two-day ninth Islamic Finance Forum of South Asia (IFFSA) will kick off today at the Shangri-La and Cinnamon Grand. An annual event, it brings about speakers from across the region. Delegates and speakers from overseas will include attendees from India …

Southeast Bank launches 16 agent banking outlets

Southeast Bank PLC formally launched 16 (sixteen) agent banking outlets - “Shagotom” to facilitate the unbanked people across the country, specially at the rural and semi-urban areas at Cox's Bazar, Cumilla, Dhaka, Faridpur, Gazipur, Jhalokathi, Khulna …

The Times Square Lights Shine Bright for Sathya Sai Baba’s Centennial: A Global Celebration of Love and Service

100 Years of Love All Serve All NEW YORK, NY, UNITED STATES, November 26, 2024 /⁨EINPresswire.com⁩/ -- The bustling crossroads of the world, Times Square, witnessed a moment of profound spirituality and celebration on November 22nd and 23rd, 2024, …

Ahava Productions Announces Exciting Development: Interactive Camino Map

Ahava Productions-A Catholic production company making movies and music that move the soul. MILWAUKEE, WI, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- Ahava Productions, a leading international film production company known for …

A Hauntingly Romantic Christmas Adventure: Spirits of Christmas in Jackson, California

To Hunt or Slay Bells JACKSON, CA, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- "The Spirits of Christmas" Brings Supernatural Thrills and Fun to Jackson, California The holiday season in Jackson, California just got even …

Katie Hornor Becomes One of the World’s Prestigious Certified High Performance Coaches™, Bringing Faith to the Forefront

SIOUX FALLS, SD, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- Katie Hornor (sometimes misspelled as Horner), an acclaimed business strategist, keynote speaker, and award-winning author, has achieved a prestigious milestone by becoming …

Europe-Asia Center Champions Faith-Based Climate Action at COP29

Europe-Asia Center bridges faith and climate action at COP29 BELGIUM, November 25, 2024 /⁨EINPresswire.com⁩/ -- From November 12 to 16, 2024, the Europe-Asia Center delegation, led by distinguished figures including H.E. Erik Solheim, former UN …

"Fields of Faith: The Remarkable Journey of Edwin Jay Edwards" A Story of Faith, Resilience, and Inspiration

Finding Strength to Overcome Life’s Challenges and Inspire Others AR, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- Edwin Jay Edwards' life is a testament to the extraordinary power of faith, perseverance, and love. His remarkable …

New Record Set: The World’s Largest Single-Volume Book Takes the Spotlight

At three times the length of the Holy Bible, The 210-Book LSV Master Collection exceeds the current Guinness World Record holder, In Search of Lost Time. NEW YORK, NY, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- The project began in …

AMMWEC Condemns Murder of Rabbi Zvi Kogan in the UAE

The American Muslim & Multifaith Women’s Empowerment Council (AMMWEC) is horrified by the murder of Rabbi Zvi Kogan, a Chabad emissary, in the UAE WASHINGTON, DC, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- The American Muslim …

Leading Muslim & Jewish Women's Rights Organizations in America Meet with the Netherlands Ambassador to Express Concern

Upon seeing the horrific events in Amsterdam, AMMWEC requested a meeting with the Embassy of the Kingdom of the Netherlands WASHINGTON, DC, UNITED STATES, November 25, 2024 /⁨EINPresswire.com⁩/ -- Upon seeing the horrific events in Amsterdam, the …

Manzil Wealth Launches Canada’s First Halal Wealth Platform and Expands with Acquisition of Canadian Islamic Wealth

Manzil Wealth launches Canada’s first full-service halal wealth platform, acquires Canadian Islamic Wealth, and expands services for Sharia-compliant finance. TORONTO, ONTARIO, CANADA, November 25, 2024 /⁨EINPresswire.com⁩/ -- Manzil Wealth, a …

PLIAS Resettlement Arranges Summit to Address Critical Issues of Domestic Abuse and Justice Inequities

Summit to Break the Silence on Domestic Homicide, Violence, and Justice, 29 November LONDON, UNITED KINGDOM, November 25, 2024 /⁨EINPresswire.com⁩/ -- “Every three days on average, a woman is killed by a man,” according to a recent article in The …

Episcopal Impact Fund Night of Light Gala 2024, Raises Over $350K to Support Local Non-Profits in the Bay Area

Night of Light Gala 2024 was an enormous success thanks to hundreds of inspired community members, dozens of grantee organization partners, & dedicated sponsors SAN FRANCISCO, CA, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- …

Amber Krystal,'The Female Moses,'Inspires Change Through BeHealed, Behold, BeMature Ministries: A Place of Metamorphosis

Amber Krystal, TEDx speaker and founder of Be Healed Ministries, empowers personal transformation through faith, resilience, and healing CHARLOTTE, NC, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- Amber Krystal, renowned TEDx speaker …

American Friends of NATAL Hosts 'Voices of Resilience' Gala Sharing Inspiring Stories of Trauma Care and Hope

American Friends of NATAL “Voices of Resilience” - an emotional evening of strength and perseverance from those navigating the journey of healing from trauma. NEW YORK, NY, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- American Friends …

Tangicloud Introduces New Product Logo for Tangicloud Fundamentals

Software developer to introduce logo for branding to nonprofit and government industries. LITTLETON, CO, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- Tangicloud Technologies, Inc., a leading provider of cloud-based ERP solutions for …

NBCI Supports the ICC Arrest Warrant for Prime Minister Benjamin Netanyahu and Former Defense Minister Yoav Gallant

The National Black Church Initiative, A Coalition of 150,000 Black Churches, says The Church Must Work Hard to Save Humanity from Itself WASHINGTON, DC, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- The National Black Church Initiative …

Van Zant Releases First New Album in Two Decades via Frontiers Music SRL

The new album from Southern Rock icons Johnny Van Zant (Lynyrd Skynyrd) and Donnie Van Zant (.38 Special) is their first to be focused on Christian music. NASHVILLE, TN, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- Southern rock icons …

Platinum®-Selling Katy Nichole Launches Viral Hit “When I Fall”

Lead Single From Her Sophomore Album Receives 200 Million Views on TikTok Alone After Chorus Releases on Socials; Nichole Joins NewSong for Christmas Tour FRANKLIN, TN, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- RIAA Platinum®- …

MOA Partners with New Life Centers to Streamline Inventory Management with Kechie

IRVINE, CA, UNITED STATES, November 22, 2024 /⁨EINPresswire.com⁩/ -- My Office Apps (MOA) is thrilled to announce a new partnership with New Life Centers to enhance and streamline their inventory management processes. Through this collaboration, …

TimeLine’s Nov. 26-Dec. 1 Antiquities Auction offers astounding cultural artifacts from Bronze Age to Pre-Columbian era

Awe-inspiring six-day event features impeccably-curated and well-provenanced art objects, ancient coins, jewelry and historical arms and armor HARWICH, ESSEX, UNITED KINGDOM, November 22, 2024 /⁨EINPresswire.com⁩/ -- Britain’s TimeLine Auctions, …