Dec 15, 2017
Key insights emerge as the 24th World Islamic Banking Conference kicks off in Bahrain
-Key highlights from the first day of the conference include the Governor’s Address, an exclusive interview trailing the vision for the next 40 years of Islamic Banking, the launch of the ICD-Thomson Reuters IFD Report 2017 and a fintech consortium of Islamic Banks and the WIBC Performance Awards honouring the top performing Islamic banks at the global, regional and country level.
Amwaj Islands, Kingdom of Bahrain, December 05 2017: Under the patronage of ...
by Prof. Nafis Alam and Lokesh Gupta
Dec 13, 2017
Today, FinTech continue to be a driving force in the financial landscape of the economy. There has always been a demand for financial supports amongst individuals, entrepreneurs and Small & Medium Enterprise (SME), which remains unaddressed through existing financial institutions. FinTech startups are trying to fill this gap through Crowdfunding model using social platform. These platforms provide wider reach to individual for investing excess of funds and provide funding to those who needs it with valid purpose.
The concept of crowdfunding using Peer to Peer (P2P) model is evolving and is being used in increasingly creative ...
by Yannis Stournaras
Dec 11, 2017
The 2nd EU-Arab World Summit was held under the theme of “Towards a Solid Alliance” on November 9-10, 2017 in Athens, Greece. This event was mainly organized by the Delphi Economic Forum, Al-Iktissad Wal-Aamal Group and Symeon G.Tsomokos S.A. Mr. Yannis Stournaras, the Governor of the Bank of Greece (Central bank) delivered following keynote speech titled “The Greek economy: Prospects and main challenges”:
Ladies and Gentlemen,
It is a great pleasure for me to be with you today. The EU-Arab Summit is a forum that improves communication and fosters ...
Nov 11, 2017
The two-day 2nd EU Arab world Summit entitled "EU ARAB RELATIONS – CHALLENGES OF THE FUTURE: FOREIGN POLICY, POLITICAL AND SECURITY DIMENSIONS", started on Thursday, November 9th, 2017, at the Athens Concert Hall. The Summit is organized under the Auspices of H....
Nov 02, 2017
Amanah Halal Research Centre (Amanah HRC) received “Innovation in Halal Education” award during the prestigious World Halal Day event held in London on November 1, 2017 which was organized by United World Halal Development and HDCMICE Middle East.
London November 2, 2017: The “Innovation in Halal Education” awarded to Amanah HRC recognizes the commitment and dedication of the centre to provide innovative education and trainings about halal industry on a global level. Amanah HRC is the first organization to provide innovation in halal industry education by offering the following courses:
Dec 04, 2017
The 3rd series of the WIBC Leaderboard will see top performing Islamic Financial Institutions from Bahrain, Bangladesh, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia vying for the WIBC Awards recognizing the Best Performing Banks at the Global, Regional and Country Level.
Amwaj Islands, Kingdom of Bahrain, 31 October 2017: Committed in its vision to promote and foster the global Islamic Banking Industry, the 24th World Islamic Banking Conference will continue its efforts to enhance the performance and quality of key Islamic financial institutions by means of the 3rd WIBC Leaderboard. ...
by Lisa Nestor
Dec 12, 2017
It’s an exciting, if not challenging time for banks as they absorb, digest and develop strategies around blockchain technology. Without question, it will change many fundamental operations within the financial industry. One such operation is payments.
At Stellar.org, we have developed a global, open-source blockchain protocol for payments. It was my pleasure to share the details of this protocol at the recent Blockchain for Financial Services conference in Dublin. This time, coupled with my standard description Stellar’s asset issuance capability (think: counterparty-backed digital Euro, Dirham or Yen) and decentralized exchange – I ...
Dec 03, 2017
Bitcoin ""puts a question mark on the fractional banking model we know today."
In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.
Christine Lagarde–a Paris native who has held her position at the IMF since 2011–says the only substantial problems ...
Oct 01, 2017
Every year, the World Bank's World Development Report takes on a topic of central importance to global development. The 2018 Report, Learning to Realize Education's Promise, is the first ever devoted entirely to education. Now is an excellent time for it: education has long been critical for human welfare, but is even more so in a time of rapid economic change. The Report explores four main themes. First, education's promise: Education is a powerful instrument for eradicating poverty and promoting shared ...
Dec 01, 2017
New World Bank study, jointly released with the National University of Singapore Business School, and Leuphana University today reveals that psychology-based entrepreneur training programs are outperforming traditional business trainings amongst microentrepreneurs in West Africa, translating into increased firm profits by 30% compared to 11% for traditional business training.
The results, published in the journal Science, establish a fresh middle ground in a long-standing debate between whether an entrepreneur is “born or made”, showing that what have been assumed to be innate entrepreneurial attributes can be developed ...
by Dr. Abdul Nasir bin Haji Abdul Rani
Sep 24, 2017
The global economic crisis basically involves a prolonged significant decline in the economic activities of the country and worldwide due to various economic factors such as inflation, financial crisis, and an increase in interest rate. This crisis is known as Economic Depression. Meanwhile, the depression can become worse when hyperinflation hits the economy and resulted to an Economic Collapse.
The economic crisis has ...
Sep 21, 2017
As most StartUps fail, there must be something wrong with how we define or think about a StartUp.
As soon as someone has an idea, it quickly becomes a 'StartUp'. This rush to become self-identified, or externally labelled as a StartUp, way too prematurely, is one of the unspoken reasons for such high failure rates with StartUps. Dig deeper, and you will find ...
Dec 10, 2017
2nd Global Ethical Finance Forum was convened by Middle East Global Advisors* in Strategic Partnership with UKIFC and was hosted by RBS on Sept 13-14, 2017 in Edinburgh, Scotland. Keith Brown MSP (Cabinet Secretary for the Economy, Jobs and Fair Work, Scottish Government) delivered below keynote speech.
“Thank you Omar [Shaikh, head of Islamic Finance Council, UKIFC] for your kind introduction and for again giving me the opportunity today to speak to such a diverse and distinguished audience.
I am pleased to be able to welcome you ...
Sep 15, 2017
Omar Sheikh, the Advisory Board Member of the UK Islamic Finance Council delivered below key note address at the Global Ethical Finance Forum 2017 which was held at the Royal Bank of Scotland in Edinburgh. The event was organized by Middle East Global Advisors* in strategic partnership with UKIFC.
"My Lord, Lord Provost, Cabinet Minister, Distinguished Guests, Ladies and Gentlemen
by Dr. Bolko Hohaus
Nov 10, 2017
The world has seen unprecedented disruption from technology in many sectors, as major trends such as Cloud Computing, Big Data and Internet of Things converge to what some say is the fourth industrial revolution. Therefore, we are living in really interesting times as the change seems to accelerate.
Fourth industrialization impacts asset management
Now this trend is also reaching asset management. The finance sector, in particular the asset management industry, has ...
Sep 13, 2017
A new World Bank loan is helping promote sustainable and inclusive growth in Turkey by focusing on increasing domestic savings, enhancing economic participation among vulnerable groups, and addressing structural bottlenecks through policy reform.
by Dr. Najeeb Zada
Sep 23, 2017
Shariah scholars should be more vigilant when things go wrong in sukuk.Shariah scholars should be more vigilant when things go wrong in sukuk.
Recently, the Abu-Dhabi listed Dana Gas argued that it would not make payments on $700 million of its sukuk maturing in ...
by Muhammad Ashfaq
Sep 13, 2017
A stable financial system plays an important role in the social and economic development of societies. Financial crises took place in different parts of the world but their impact was not only limited to that particular country but we have seen ripple effect in the form ...
by Maria Cristina Torrado, EY Middle East
Dec 13, 2017
Without a bank account, it is a daunting task to make all payments through cash. Nowadays, paying bills can be a mission (finding an office and standing in a queue) but on the other hand, keeping all your savings “under the mattress” can be dangerous and poised to theft. In this situation, payments through mobile and other means have gained significant attention around the world. According to the World Bank, between 2011 and 2014, 700 million adults became ...