Islamic banking draws new interest from West

A recent article on Islamic banking from Al-Monitor looks at the relationship between politics and Islamic banking. According to Al-Monitor, “Islamic finance experience can be seen as a humane financial and banking jurisprudence, which can be criticized and reviewed, as well as distanced from politics.”

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David Cameron to unveil plans for £200m Islamic bond

October 28, 2013   David Cameron will pledge to make London one of the world’s “great capitals of Islamic finance” when he unveils Treasury plans to create a £200m Islamic bond by early next year. The prime minister will also unveil plans by the London Stock Exchange to launch the first Islamic Market Index. The…

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Could principles of Islamic finance feed into a sustainable economic system?

October 18, 2013   Islamic finance has been a significant global force for the past few decades, but in recent years sharia-compliant saving and investing have become more common. For example, in June, Goldman Sachs provided a loan to Arcapita Bank, an Islamic investment company, that in compliance with sharia law did not charge interest….

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Paris seeks to become Islamic finance hub in Europe

News Agencies – April 23, 2012   A report prepared by KFH-Research states that new global markets are seeking to join the main players in the Islamic financing industry and services, such as France. France is working relentlessly to make numerous legal and organizational reformations to facilitate the offering of Islamic financial services and products….

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Debate about the acceptability of Islamic finance in Canada

Macleans – January 16, 2012 Canada, with its 1.3 million Muslims, has lagged behind countries like the U.K. and the U.S. in embracing sharia-compliant financial products. None of the country’s big banks currently offer sharia-compliant services, though some smaller players do. Toronto-based UM Financial Inc., which issued home mortgages conforming to Islamic law, filed for bankruptcy…

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