Islamic Banking and Takaful
press release
The IFSB Disseminates PSIFIs Data for 2022Q3 on Islamic Banking Systems in Member Countries
The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level Prudential and Structural Islamic Financial Indicators (PSIFIs) data on the Islamic banking sector up to Q3 of 2022 from IFSB member jurisdictions. This 25th dissemination of PSIFIs data makes available, quarterly data from 2013Q4 to 2022Q3.
14 Feb 2023
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press release
Exposure Draft on Hajah and Darurah
The exposure draft sets out the Bank’s proposed requirements and expectations for the application of hajah (need) and darurah (dire necessity) by Islamic financial institutions in carrying out Islamic banking and takaful business.
13 Feb 2023
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news
Russia mulls turning to Islamic banking over closure of Western financial markets
Russia on Wednesday will start an experimental pilot project on implementing Islamic financial practices in several regions with Muslim-dominated population.
13 Feb 2023
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news
Malaysia's Islamic Financing Growth to Continue Outperforming Conventional Banks
Malaysia's Islamic financing growth is likely to moderate in 2023 as higher financing rates sap demand, but Fitch Ratings expects growth to continue to outperform that of conventional banks, due to the country’s supportive regulatory environment and Islamic finance ecosystem as well as the shift towards Sharia-compliant services.
13 Feb 2023
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press release
MBSB bank pledges full commitment towards integrity
MBSB Bank Berhad (‘MBSB Bank’) made its promise for continued commitment to a high level of accountability and transparency by signing the Corporate Integrity Pledge.
03 Feb 2023
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news
Egypt: FRA issues rules for takaful companies seeking to convert operations to traditional commercial insurance
Dr Mohamed Farid Saleh, chairman of the Financial Regulatory Authority (FRA) has issued a decision (No. 194 of 2022) regarding rules and procedures for revising the licensing of takaful companies to allow them to operate in the traditional commercial insurance system in the Egyptian market. The decision was published in the Official Gazette on 29 January 2023.
03 Feb 2023
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news
Co-opbank Pertama partners PR1MA to help middle-income group own homes
Co-opbank Pertama (CBP) has partnered PR1MA via the CBP MyPR1MA scheme to help the middle income group nationwide to own their own homes.
30 Jan 2023
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news
Bank Islam’s SME Smart ECO enables businesses to adopt green technology
SINCE the Finance Ministry announced the country’s aim to achieve net-zero greenhouse gas (GHG) emissions by 2050 under the 12th Malaysia Plan (12MP) 2021-2025, many big corporate players started to take on low-emission and renewable-energy initiatives to support this goal.
30 Jan 2023
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news
MBSB Bank, CelcomDigi explore collaboration to develop smart banking solutions
MBSB Bank Bhd and CelcomDigi are exploring opportunities in end-to-end smart banking solutions that include comprehensive services for cyber security, smart retail solutions financing, and cloud infrastructure technology.
27 Jan 2023
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