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Al-Cordoby  
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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 23 October 2017 at 3:56am
How Islamic financial markets are safe haven in conventional market crisis

Islamic law prohibits any forms of interest or gambling. Transactions that lack transparency are also banned

Islamic finance is enjoying a surge in popularity, with 14% annual growth in recent years. And the interest in sharia-compliant stocks and bonds is growing across the non-Muslim as well as Muslim world.

My recent research shows that there is good reason for this growth. In fact, Islamic markets were not rocked by the 2007-08 financial as much as conventional markets and can be considered a new safe haven for investors.

The popularity of Islamic financial instruments among Muslims is not surprising...

http://www.business-standard.com/article/international/how-islamic-financial-markets-are-safe-haven-in-conventional-market-crisis-117102300123_1.html


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 26 October 2017 at 2:23am
4 Things You Need to Know about Islamic Finance (IMF)

In the stability front, Islamic finance has the advantage of being asset backed, which makes it inherently less risky than conventional finance.

And in terms of growth, it serves growth in two dimensions:

First, it provides greater access to banking to the Muslim population, who have previously been under-served by conventional banks.

And by tapping a larger pool of savings, this unleashes greater potential for funding of growth-enhancing investment...

http://aboutislam.net/reading-islam/understanding-islam/4-things-need-know-islamic-finance-imf/

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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 29 October 2017 at 6:23am
How Islamic Finance Can Save the Global Economy

Perhaps some of the “freed minds” out there will recognize that I’ve just described much of what is central to Islamic finance. That’s intentional.

As Harvard University academics Larry Beeferman and Allan Wain argue in an epic paper, all investors can look to Islamic finance to understand how financial products can deliver value in the real world.

We need to shrink the distance between the financial and the real economies and remind ourselves which one exists to serve the other.

It’s in all of our interests — even commercial interests — to do this now.

The short-term gains earned in the simulation rarely result in long-term value creation.

And the truly brilliant investors have already come to realize that long-term success is about taking the long-term view of the real economy, ignoring the simulation whenever possible.

I’m not saying these people can dodge bullets in the financial world. I’m saying that they understand . . . they don’t have to.

https://www.institutionalinvestor.com/article/b15c8wrrrx390w/how-islamic-finance-can-save-the-global-economy


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 03 November 2017 at 11:28am
Business schools teach Islamic finance, and all are welcome

Malaysia leads the way in teaching the world

KUALA LUMPUR The world's growing Muslim population opens up near limitless potential for Islamic finance. What is limited is the pool of talent that has the skills to manage funds in accordance with Shariah, or Islamic law.

Malaysia, which wants to establish itself as an international hub for Shariah-compliant finance, is a leader in changing that.

In one recent class at the International Center for Education in Islamic Finance (INCEIF), a graduate school in Kuala Lumpur, about 40 students were writing down English technical terms in their notebooks. The lesson of the day was "banking practice."

The class was as diverse as they come, much like the school itself. Since the school opened with the backing of the government and central bank in 2006, half of the 1,300-plus graduates have been Malaysians, but the other half have been from over 70 countries.

The list includes predominantly Muslim nations, like Indonesia, Pakistan and Somalia, along with countries with few Muslims. Students have come from Japanese banking institutions, for example. One does not have to be Muslim to enroll...

https://asia.nikkei.com/magazine/20171102/Special-Report/Business-schools-teach-Islamic-finance-and-all-are-welcome


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 05 November 2017 at 5:02am
Difference Between Interest and Riba?

Q:
Is there a difference between bank interest and riba?

And why is riba such a huge sin in Islam?

A: Riba is an Arabic word, and it refers to some kind of increase. That’s the technical meaning, the etymological meaning of the linguistic meaning. But, in the Islamic context, riba is used to refer to interest on loans.

The Quran speaks about interest and condemns taking it in several passages. In fact, three different passages come to mind immediately. All of these passages are condemning the taking, or the eating of interest. And we should ask -why?

Well, why is the Quran coming down so heavily about this to the extent of saying that if you do not stop this practice, then God declares war on you? Which, you know, could come in the form of pestilence, and, you know, so many natural disasters, and so on, if we take that literally that God is declaring a war on you...

http://aboutislam.net/counseling/ask-about-islam/difference-riba-interest/



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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 07 November 2017 at 5:03am
Why Canada is Welcoming Islamic Finance with Open Arms

Canada has helped to establish a template for other sovereigns in embracing alternative and socially conscious forms of investing according to a Fitch Ratings report by Bashar Al Natoor, Global Head of Islamic Finance at Fitch.

The overarching reason is that Canada can deepen its pool of investors; the belief being that the more people have a personal stake in an investment, the more public acceptance it will generate.

The reality, however, is that belief is still very much a desired outcome instead of what’s actually taking place today...

https://www.islamicfinance.com/2017/11/canada-welcoming-islamic-finance-open-arms/


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 24 November 2017 at 12:20pm
A cause for optimism for the future of Islamic finance

... there is cause for optimism with the powerful forces of global Muslim population growth; emerging economies growing faster than advanced economies; rising affluence and economic participation; increased demand for ethical investments; rise in Islamic financial centres; sophistication of Shari’ah compliant finance; harmonization and integration of Islamic financial practices to global accounting and risk management standards; and Sukūk issuance is rapidly growing globally.

One particular powerful force that is of note, is Hong Kong becoming the first ‘AAA’-rated government in the world, to issue a dollar-denominated Sukūk (three worth $3 billion were issued since September 11, 2014).

The issuance of Sūkuk and Sharia’ah compliant financial instruments must be viewed within the context of financing the infrastructure needs of China’s One Belt, One Road (OBOR) strategic economic partnership with its historical ‘silk road’ partners across Eurasia, where 40 percent of OBOR countries are Muslim.

Recent developments in the Middle East and Southeast Asia, that are an extension of some of these forces offer a great cause for optimism that is nonetheless supported empirically by a trend incline since 2005 in the Islamic share of cross-border transactions...

http://www.thejakartapost.com/academia/2017/11/24/a-cause-for-optimism-for-the-future-of-islamic-finance.html

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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 27 November 2017 at 4:00am
Building capacity: Online distance learning courses for the Islamic economy

In the Islamic economy, e-learning courses have largely focused on Islamic finance, with the core markets reflecting the global hubs of the industry: Malaysia and the United Arab Emirates (UAE), as well as Pakistan.

The International Centre for Education in Islamic Finance (INCEIF), a university set up by Bank Negara Malaysia (the central bank) to develop human capital for the sector, started Islamic finance e-learning in 2006.

“We went online because we were only appealing to locals and wanted international students as well,” said Ezamshah Ismail, Dean of the School of Professional Studies at INCEIF, to Salaam Gateway.

Ernst & Young estimates the Islamic finance industry’s human capital sector between five and six percent of the global financial system.

Addressing this niche, INCEIF’s Masters in Islamic Finance Practice (MIFP) is aimed at bolstering human capital in the Islamic finance sector. “We were not wanting to compete on asset size, but on intellectual capital development. The industry cannot grow otherwise, as the market needs more human capital,” said Ezamshah Ismail...

https://www.salaamgateway.com/en/story/SALAAM12042017065000/


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 28 November 2017 at 1:34am
Islamic Finance Adds to Mediterranean Development

Sector's assets expected to exceed $4 trillion by 2020, expert says

BARCELONA, Spain

Islamic finance is a means for economic enhancement and investment diversity in the Mediterranean region, Abdulhameed Aboumoussa, Deputy Chairman of the Board of Directors of General Council Islamic Banks and Financial Institutions said on Thursday.

"The Islamic finance industry has been constantly evolving and growing rapidly and based on the World Bank and International Monetary Fund reports, the industry will reach over $2 trillion by the end of 2016," Aboumoussa told the 11th Mediterranean Week of Economic Leaders (MedaWeek)...

http://aa.com.tr/en/corporate-news/islamic-finance-adds-to-mediterranean-development/976619

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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 02 December 2017 at 12:37am
UK based Islamic Crowdfunding Platform Yielders Receives Islamic Economy Award

The UK’s first FCA regulated Islamic Fintech platform, Yielders, has been awarded the Islamic Economy Award in the Money and Finance category.

The Islamic Economy Award is overseen by Thomson Reuters and the Dubai Islamic Economy Development Centre.

The Award recognises innovative world-class business initiatives and ideas that have contributed to the social and economic welfare of the Muslim population...


https://www.crowdfundinsider.com/2017/11/125137-uk-based-islamic-crowdfunding-platform-yielders-receives-islamic-economy-award/


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 06 December 2017 at 2:27am
Sovereign Sukuk Issuance to Continue in 2018 (around US$95 billion by end of 2017)

Sovereign sukuk issuance volume will continue to grow in 2018 as governments look to diversify their financing mix and satisfy the liquidity needs of Islamic retail banks, says Moody’s Investors Service.

Total sukuk issuance will reach around US$95 billion by the end of this year, after more than US$85 billion in 2016, including more than US$50 billion of sukuk issuance by sovereigns.

"Sovereigns have underpinned a recovery in the global sukuk market this year, with their issuance increasing by 50 per cent in the first eight months of 2017," said Christian de Guzman, a Moody's Vice President -- Senior Credit Officer...

https://www.salaamgateway.com/en/story/sukuk_issuance_to_continue_in_2018-SALAAM06122017044947/


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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 20 December 2017 at 4:28am
Islamic Finance is becoming so attractive that even non-Muslims want in

Islamic finance has traditionally been dominated by Muslim-majority countries in the Middle East and Southeast Asia. Now much of the rest of the world is getting in on it.

Buoyed by the perception of more tranquil market conditions and an improving regulatory backdrop, issuance of Islamic debt by non-Muslim countries is set to climb to a three-year high in 2017, according to Dealogic data.

Islamic financial products comply with Sharia, or Islamic law, and are based on the principles of risk and profit-sharing. Sharia prohibits earning interest on loans, and it bars funding activities involving alcohol, pork, pornography or gambling.

The value of sovereign sukuk, or Islamic bonds, issued outside the Middle East and Southeast Asia by non-Muslim countries reached $2.25 billion in the 11 months through November, data by Dealogic showed. That's higher than 2016's $2 billion and more than double the $1 billion recorded in 2015...

https://www.cnbc.com/2017/12/19/sukuk-islamic-finance-grows-in-non-muslim-countries.html



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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 21 December 2017 at 6:59am
Capitalism is losing support: Time for a new deal?

(An article from the World Economic Forum)

The financial crisis has led many to question the legitimacy of capitalism. The verdict, 10 years on, has not been favourable.

In an opinion poll by YouGov, three-quarters of German adults, two-thirds of Britons and over half of Americans believe that, “the poor get poorer and the rich get richer in capitalist economies”.

Their sense of injustice is not only a reaction to bank bailouts, years of austerity and corporate scandals.

The challenge is fundamental.

There is a growing awareness in the rich world that most of the benefits of technology and globalization flow to people who own investible capital and to the well-educated, while the costs are borne by unskilled workers, local producers and people who have little property and savings...

https://www.weforum.org/agenda/2017/11/capitalism-losing-support-we-need-a-new-deal/

The main problem of capitalism today (imo) is in a financial and banking system which is based on interest/riba/usury

If the world changes from a banking system based on interest to a system based on risk sharing between owners of capital and entrepreneurs, capitalism will recover.

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Rating: 0 of 0 votes Quote Al-Cordoby Replybullet Posted: 25 December 2017 at 2:07pm
Zakat requires Muslims to donate 2.5% of their wealth: could this end poverty?

Estimated at almost $2tn in 2015, Islamic finance is often overlooked by development organisations as a potential source of funds


https://www.theguardian.com/global-development-professionals-network/2017/jun/22/zakat-requires-muslims-to-donate-25-of-their-wealth-could-this-end-poverty

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