:London :Dubai :Kuala Lumpur :New York
  FOLLOW US  
Sign in   |   Register

Events

image Introduction to Risk Management in Islamic Banking – Basel II Compliance.
Event date: - 2012-12-07
   
image 12th Annual Islamic Finance Summit
Event date: - 2013-02-26
   
image The 3rd PPP MENA Conference
Event date: - 2013-03-17
   
image Islamic Finance Forum Europe
Event date: - 2013-05-28
   
  More Events    Add Event

Search

Enter your keyword  

Follow Us






News by Topics

There is currently a tremendous opportunity for Kuwait to profile itself as a hub for Islamic finance and Islamic banking, according to Belgian academic and economist Professor Laurent Marliere.

"The winners of the upcoming Kuwaiti elections could take a challenger’s position in the region and benefit from he numerous advantages of the country to pioneer new ways of conceiving Islamic finance," he told the Kuwait ews agency, KUNA,  on the occasion of the upcoming polls in the Gulf country.

Marliere, the CEO of the Brussels-based ISFIN, the world’s leading network of Islamic Finance Lawyers, follows losely the developments of Islamic Finance in non-Muslim countries.

"Islamic finance itself is being challenged to redefine its model, not to mimick conventional finance. There are reat expectations around the globe concerning Islamic finance and Islamic banking, which is discipline that does ot belong to the Muslims exclusively but has turned into a global phenomenon, " stressed the professor who teaches marketing.

He noted that Islamic finance is in a riper state in Asian Muslim countries than in Arab Muslim countries."Malaysia as been leading the way for a decade but other jurisdictions now have entered in a battle to challenge that eadership: Singapore, Hong-Kong, Indonesia." "The world expects Islamic financial institutions to take more eadership on global finance and one of the biggest challenges facing the industry is its lack of innovation and its oor marketing," said Marliere. He pointed out that historically, Kuwait is actually a pioneer in Islamic banking.

"The Islamic banking institutions in Kuwait are regulated by the Central Bank of Kuwait, established in 1968 under the Central Bank of Kuwait Law (CBK). CBK Law provides for the Islamic banking regulatory and supervisory framework and sets the requirement for the Shariah Governance framework," he said.

"Kuwait’s Islamic banking industry is set to embark on the market without being hindered by substantial legislative formalities. A lot of time can be gained using pre-existing legislation," said the professor.

"Actually, one of the incentives owned by Kuwait, in the battle to develop a hub in Islamic banking, is the flexibility of its legislation. The text is very modern and should be dug out of the sand by the new government," he told KUNA.

The Belgian economist said that Islamic banking is one of the businesses that cannot suffer rigidity in its regulation and supervision. "It is a fast growing area of world’s finance and competitive jurisdictions must react accordingly." "A Shari’ah compliant investment consists of a third of money, a third of religion and a third of law. The latter third is becoming more and more important as we live in an unsecure world and the legal framework is a guarantee to provide more security," he added

Share |

 

starting your own business with B&F Switching to B and f services

News

image How credit risk is associated with key macroeconom ...
2013-11-11
Recently published article by Hamid A.H. Al-Wesabi & Nor Hayati Ahmad from University Utara Malaysia is answering the qu ...
image London can lead world as an Islamic Finance hub ...
2013-10-29
Financial Time published the following article from George Osborne (UK chancellor of the exchequer) regarding this week ...
image The world bank will open its first centre on Islam ...
2013-10-28
The world bank will open its first centre on Islamic Finance at Borsa Istanbul premises, the exchange market said Monda ...
image Busy November for Islamic Finance ...
2013-10-25
Islamic Finance Calendar for November 2013: 1. The 9th World Islamic Economic Forum held in:London Date: MONDAY, NOV 4 ...
image Family Farming: The Key to Alleviating Hunger and ...
2013-08-09
After decades of failed attempts to eradicate hunger, development agencies, internation ...

Share |

Company Recomendation of the week
Overseas Trade Finance   
We specialise in sourcing trade finance, and arrange funding for export transactions on behalf of exporters, and international trade finance professionals world wide. We arrange the finance for Trade related business and forfeiting. Visit: www.otfonline.com


Current issue

''The principle of Islamic Finance is about transparency, ethics and fairness, as well as promotin ...
Read More ..
main cover islamic

Subscribe

Subscribe Digital

  Current Issue     Trial Version     Digital     Archive  







Click to launch the full edition in a new window
Online Publishing from YUDU

Latest Books

image Islamic Branding and Marketing: Creating a Global Islamic Business
Author/Publisher: - Dr. Paul Temporal
   
image Understanding Islamic Banking: The Value Proposition That Transcends Cultures
Author/Publisher: - Joseph A. DiVanna
   
image Critical Issues on Islamic Banking and Financial Markets: Islamic Economics, Banking and Finance, Investments, Takaful and Financial Planning
Author/Publisher: - Saiful Azhar Rosly
   
image Product Development in Islamic Banks (Edinburgh Guides to Islamic Finance)
Author/Publisher: - Habib Ahmed
   
image Frequently Asked Questions in Islamic Finance (The Wiley Finance Series)
Author/Publisher: - Brian Kettell
   
  Buy Now      More Books  

QUOTE of the week

 Islamic finance is becoming an integral part of the global finance industry and has taken its roots in almost all of the Muslim countries but has also been under discussion and penetration in selective Western and Far Eastern jurisdictions

Moinuddin Malim, CEO, Mashreq Al Islami


GCB    Business Media Group - the Publisher    B&F Services Ltd.