Regulatory reforms aim to expand Shariah-compliant financial services in the country ASTANA, Kazakhstan (MNTV) — Kazakhstan is poised to take a significant step in the development of its Islamic financial sector. The country’s Agency for Regulation and Development of the Financial Market (ARDFM) has announced a new draft law on banks an...
Offa, the UK’s first Shariah-compliant finance provider, received approval to offer Islamic home purchase plans LONDON (MNTV) – The Financial Conduct Authority (FCA) granted Islamic fintech firm Offa authorization to offer Shariah-compliant alternatives to traditional residential mortgages in the U.K. This move positions Offa as t...
Shariah-compliant fintech firm aims to tap Saudi market after major funding boost from Zayn VC and Meezan Bank. ISLAMABAD, Pakistan (MNTV) – Pakistani fintech startup Haball has raised $52 million in a bid to scale its Islamic financial services both domestically and across the Middle East, the company announced on Tuesday. The funding round i...
Islamic digital finance platform earns top 20 spot on Sifted 100 leaderboard for 2025 LONDON, UK (MNTV) – StrideUp, an innovative Islamic digital finance platform, has been ranked among the top 20 fastest-growing startups in the U.K. and Ireland in the prestigious Sifted 100 leaderboard for 2025. This annual ranking, which highlights the regi...
In a bid to create a level-playing field for Shariah-based banking, a new draft law in Bangladesh will prohibit conventional banks from offering Islamic banking services. Under the proposed Islami Bank Company Act-2024, banks that wish to provide Shariah-compliant banking must either form a subsidiary or adjust their business model. Currently,...
Kenya has marked a significant milestone by listing its first Islamic bonds, worth $23 million, on the Nairobi Securities Exchange (NSE). President William Ruto inaugurated the Shariah-compliant bonds, known as Sukuk, and introduced by Linzi Finco Trust Islamic. The move is part of Ruto’s initiative to enhance affordable housing through ...
Ugandan President Yoweri Museven has inaugurated the national operations of the country’s first interest-free commercial Islamic bank. He highlighted its potential to boost Uganda’s financial sector and attract Muslim investors. Salaam Bank received its license in September, following parliamentary approval and Museveni’s end...
AUGUSTA, Maine – An American bank in the state of Maine has introduced Islamic mortgages to comply with Sharia law. Androscoggin Bank took more than a year to develop the Islamic mortgage program in collaboration with community organizations and an expert in Sharia-compliant lending. The bank also hired Ayesha Baye, an Ethiopian immigran...
ANKARA (AA): Efforts are on to make Hong Kong’s markets more conducive to Islamic finance, Chief Executive John Lee said on Wednesday as he met the Indonesian business community in Jakarta. “We strive to enhance our financial market’s diversity, including in Islamic finance. Over the past decade, we have created a conducive platfor...
GENEVA (AA) – Islamic giving plays an increasing role in helping the forcibly displaced people, a UN refugee agency official said on Friday. At the start of the Muslim fasting month of Ramadan, Khaled Khalifa, a senior advisor to the High Commissioner and UNHCR representative to Gulf Cooperation Council Countries, launched the fifth Isla...
