Browsing: AlHuda CIBE

• Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
• Global Sukuk market has witnessed significant growth over the last two decades, diversifying its presence across regions such as the Middle East, Southeast Asia, Europe, and Africa.
• The outlook for the sukuk market indicates a continued upward trend, with projections suggesting it will reach $2,160.55 billion by 2028.

Sukuk, commonly known as Islamic bonds, represent a unique financial instrument in the context of Islamic finance, distinguished by their adherence to Shariah compliance. Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).

This Shariah-compliant structure renders Sukuk an appealing option for both Muslim and non-Muslim investors seeking ethical and socially …

• In recent years, Islamic banking has grown on average two to three times faster than conventional banks.
• No interest clause and bank-client partnership attracts investors to Islamic banking.
• AlHuda Centre of Islamic Banking and Economic (CIBE) to hold Islamic banking summit in Tanzania (August)

Over the course of the last decade, Islamic banking has grown on average two to three times faster than conventional banks. Even in the middle of the global financial crisis, ‘assets of Islamic banks grew at an average rate of 17% per year’ reports Ernst and Young (E&Y), in their latest World Islamic Banking Competitiveness report.

Notably, Islamic banks differ from conventional banks because they operate under the principles of Islamic law or sharia. These laws prohibit banks from collecting usury and so Islamic banks do not charge interest on loans.

The Islamic finance market can be divided into Islamic Banking, Islamic Insurance or what …

• West Africa is the new emerging region for the Islamic finance industry
• AlHuda CIBE has been in existence for 16 years and is the only consultancy firm that has worked in more than twenty-five African countries for Islamic Development Bank
• There is solid evidence from major financial markets that Islamic finance has already been mainstreamed within the global financial system

West Africa is turning out to be yet another destination for Socio-Economic Development through the Islamic Financial System.

The 8th African Islamic Finance Summit (AIFS) kicked off in The Sir Dawda Kairaba Jawara International Conference Center, The Gambia, on March 23, 2022, with a two-day (24th  -25th  March 2022) post-event workshop. The primary purpose of this event was to explore and exploit the untapped African financial market for the Socio-Economic benefits of the region.

The summit was a platform for Africa’s think tanks to discuss innovative financial inclusion strategies for …