AAOIFI – World Bank Conference: Session 1

Yurizk Islamic Banking, Islamic Finance, Islamic Finance Instruments, New & Noteworthy Leave a Comment

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) hosted the AAOIFI – World Bank Annual Conference on Islamic Banking and Finance on 17 and 18 November 2014 in Manama, Kingdom of Bahrain. The conference was organised in partnership with the World Bank, and was held under the auspices of the Central Bank of Bahrain.

The Problem with Tawarruq

Ismail Desai Islamic Finance Instruments Leave a Comment

Definition of Tawarruq (Monetization): refers to the process of purchasing a commodity for a deferred price determined through Musawama (Bargaining) or Murabaha (Mark-up Sale), and selling it to a third party for a spot price so as to obtain cash. Whereas Inah refers to the process of purchasing the commodity for a deferred price, and selling it for a lower …

Islamic Finance in South Africa – Key Challenges and Innovative Solutions

Ismail Desai Islamic Banking, Islamic Finance Leave a Comment

South Africa’s National Treasury wants to make the country the hub for Islamic finance in Africa. The country has the most sophisticated and advanced financial, legislative and governance structures and regulations on the continent, and has the potential to be the economic superpower of Africa. This gives the country a unique competitive edge over most African countries in actively capturing …

The Tale of a Proselyte Islamic Banker

Arsalan Aqeeq Islamic Banking, Islamic Finance Leave a Comment

I was a contended busy bee corporate banker, happily bogged in to structuring working capital lines, export refinancing, retiring import liabilities and funding large scale projects. Back then, it looked fulfilling and somewhat convenient experience underwriting financing facilities, rationalized by the few renowned C’s of credits including credit worthiness, collateral, cash flows, capacity etc. In essence, all I use to do is …

From the Bazaar to Wall Street – Islamic Banking and Finance

Yurizk Islamic Banking, Islamic Finance Leave a Comment

Documentary on Middle East’s Alternative Financial System – Islamic Finance Featuring: Professor Volker Nienhaus (Economist), Farmida Bi (Commercial Lawyer), Dr. Mohammad Nedal Alchaar (Former Secretary General of AAOIFI), Professor Olivier Pastre (Economist), Shaykh Nizam Yaqubi (Shariah Scholar), Mufti Muhammad Taqi Usmani (Shariah Scholar), Peter Casey (Manager DFSA) Publisher Description: An economic system based on religious principles. That’s Islamic Finance. But …