Islamic financeRSS

Albilad selects Profile Software’s IMSplus for new custody ops

Profile Software gains new IMSplus taker in Saudi Arabia – Albilad Capital

Albilad Capital, the investment arm of Saudi Arabia’s Bank Albilad, is implementing IMSplus Custody, a specialist solution supplied by Profile Software. IMSplus Custody will support Albilad’s newly launched custodian services department. Albilad Capital operates according to Islamic finance principles and provides financing from equity and debt capital markets for a variety of sectors, including oil […]

The rise of ‘halal hubs’ represents an Islamic finance opportunity

Blake Goud is Islamic finance community leader at Thomson Reuters

An interesting trend is developing in the halal sector: regional hubs are developing in places that have some local demand but not the size that would be significant markets on their own. Think of Malaysia (the largest) or Dubai or tiny Brunei. Each sees the halal sector as being strategic to their economic growth, and for Dubai and Brunei at least, as key aspects of their economic diversification. This trend has the potential to support global growth in the Islamic economy as well as SME development but need a lot of (costly) infrastructure put in place to open up the international side to SMEs

BGC Partners to launch Islamic murabaha contracts in Dubai

Dubai's DMCC and BGC aim to capitalise on demand for Islamic finance

US broker BGC Partners and UAE government-run free zone the Dubai Multi Commodity Centre have done a deal to promote Islamic ‘Murabaha’ products, as part of a drive to turn Dubai into an Islamic finance hub. The DMCC has a trade platform called DMCC Tradeflow, which operates in the Jumeirah Lakes Towers Free Zone. A […]

Saudi Arabia’s NCB revamps tech platform Islamic finance

NCB is using the Charles River tech to target Islamic finance customers in Riyad and Jeddah

Islamic finance specialist firm NCB Capital Company has installed a Charles River front and middle office investment management platform, as part of a drive to improve internal efficiencies in its Saudi business.

Islami Bank Bangladesh plans ATM, debit card expansion

Islami Bank Bangladesh plans to use ECS to help roll out its debit cards and ATMs across rural Bangladesh

Pioneer Islamic bank Islami Bank Bangladesh is planning a rapid expansion of its ATM network, using a platform for its debit cards and ATMs provided by tech firm ElectraCard Services.

Nasdaq Dubai prepares Islamic finance products

Nasdaq Dubai will offer Islamic sukuk bonds as well as conventional products

Nasdaq Dubai is planning to open an Islamic finance exchange for trading Islamic sukuk bonds as well as conventional bonds.