CPA Australia – Accommodating Islamic finance critical to Australia’s economic future


Australian tax laws should be amended to attract Islamic finance and other forms of alternative finance to benefit the economy, says CPA Australia. In a submission to the Board of Taxation, CPA Australia says Islamic Finance will ultimately boost the Australian economy and help establish Australia as a financial services hub in the Asia-Pacific region. … Continue reading CPA Australia – Accommodating Islamic finance critical to Australia’s economic future

Banking on the ummah – Malaysia leads the charge in Islamic finance


OF MALAYSIA’S claims to fame, leadership in financial services is not an obvious one. Yet in some ways the country is the world’s most important Islamic-finance centre. Just over a fifth of the country’s banking system, by assets, is sharia-compliant; the average for Muslim countries is more like 12%, and often a lot less. Malaysia … Continue reading Banking on the ummah – Malaysia leads the charge in Islamic finance

Malaysia hailed as most vital Islamic-finance hub


KUALA LUMPUR: Malaysia is the world's most important Islamic-finance centre, although the richer Gulf states and Saudi Arabia have bigger Islamic banks and Indonesia the largest Muslim population, influential financial news magazine The Economist says. Malaysia also dominates the global market for sukuk, or Islamic bonds, the magazine said in an article headlined Banking on … Continue reading Malaysia hailed as most vital Islamic-finance hub

Islamic Banking Knocks Germany’s Doors


CAIRO – Turkey's Kuveyt Turk investment fund plans to open the first Islamic bank in Germany in October, amid hopes of overcoming the bad effects of the ongoing euro crisis and get a share of the successful Islamic banking pie. "The idea of an Islamic bank is that it adheres to Islamic investment guidelines and … Continue reading Islamic Banking Knocks Germany’s Doors