Islamic finance
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
UAE launches ‘t-sukuk’ to support monetary policy
Central bank continues to implement its new dirham monetary framework
Islamic banking most at risk of negative CBDC effects
IMF paper highlights risk of unremunerated and small retail deposits
Oman marks 10 years of Islamic banking
Central bank deems sector “systemically significant”
State Bank of Pakistan appeals to supreme court over interest ban
Sharia court ordered Pakistan to adopt fully Islamic banking system within five years
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility
SBP launches Islamic facility to fund renewables and SMEs
Central bank looks to supply liquidity to key industries
Islamic finance is for everyone, Malaysia’s Zahid says
Bank Negara Malaysia assistant governor stresses inclusiveness of Islamic finance but says SMEs are still not taking advantage
Central Bank of Kuwait overhauls core banking system
System provided by Tata automates key central bank operations
Islamic finance can tackle global instability – Kuwait’s Al-Hashel
Amid “excessive” risk-taking, Mohammad Al-Hashel suggests Islamic finance could help restore stability
Malaysian central bank aims to boost use of Islamic insurance
Ibrahim tells takaful providers to leave their “comfort zone”
UAE deposits $1.4bn with Sudan’s central bank as currency pressure continues
The country has “unsustainable” debt levels and US sanctions hurt debt relief – IMF
IMF urges ‘no favour, no obstacle’ approach to Islamic banking
Report urges countries to adopt more consistent prudential standards for Islamic banks and strengthen liquidity management frameworks
BoE proposes ‘amended’ sharia-compliant fund
UK central bank could launch a fund as soon as 2018, the consultation paper says; the facility would be off balance sheet in the form of a special purpose vehicle
Basel III challenging to implement in Islamic countries – Kuwait’s Al-Hashel
Central bank governor says discretion for Islamic systems, “though well-intended”, could create divergence and opportunities for regulatory arbitrage
SAMA governor outlines challenges facing Islamic banking sector
Unified accounting standards would “comfort” regulators and improve transparency for the industry, Alkholifey says; issues need to be addressed in order to foster growth in Islamic banking
Global sharia standards desirable, but impractical – Lebanon’s el Gemayel
Complete standardisation impractical, but other options are available, says Central Bank of Lebanon’s Joëlle el Gemayel; Islamic banking landscape is shifting
Central Bank of Bahrain looks to establish stronger sharia governance
Formal framework specifies governance structures banks must put in place if they are to be licensed as Islamic, in an attempt to establish best practice
Islamic finance becoming ‘mainstream’ in Malaysia – BNM’s Ibrahim
Governor says Islamic finance has gone from a handful of firms to a quarter of the market in a matter of years; “pragmatic” approach may be part of success
Central Bank of Bahrain launched range of initiatives in 2015 – annual report
Last year the bank set up a Sharia supervisory board, launched Islamic liquidity facilities, set to work on Basel III and upgraded its IT systems