Between Aspiration and the Reality of Achieving Full Shari’a-compliance

Written by:
Nik Norishky Thani, SVP, Head of Special Projects (Islamic), PNB
Mohamad Nasir Bin Yusoff, Associate Special Projects (Islamic), PNB
Wan Amir Shafiq Bin Ab. Nasir, Associate Special Projects (Islamic), PNB

ISFIRE presents this thought-provoking article to its readers, with a view not to impose a new ideology but to think independently and draw their own conclusions. […]

By |September 10th, 2015|0 Comments

Future of Takaful

Gautam Datta

Takaful or practicing the concept of Takaful has been around for centuries. Scriptures tell us that Prophet Mohammed (PBUH) encouraged the practice of Takaful to provide a form of protection in the community. As a business however Takaful’s entry to the insurance market has been more recent. I got involved with Takaful in […]

By |June 19th, 2015|0 Comments


Khuram Shehzad
Manager Business Development & Strategy, Edbiz Consulting
If large number is a matter of pride for Muslims who comprise almost 24% of the global population, they should also be concerned as more than half of the world’s poor reside in the Muslim world. More alarming is the fact that poverty in the Muslim world […]

By |June 19th, 2015|0 Comments

Islamic Mortgage Securitization A SOURCE OF LIQUIDITY & AFFORDABLE HOUSE FINANCE for Oman

Suleman Muhammad Ali
Head of Products & Segments,
Muzn Islamic Banking,
National Bank of Oman


Availability of affordable housing is an important requirement for a country with a growing young population to sustain the economic development and the standard of living of its populace. About 50% of the population of the Sultanate of Oman is aged 24 […]

By |June 13th, 2015|0 Comments


Usaid Hasan
Associate Manager Business Development & Strategy,
Edbiz Consulting

It was another year of expansion for the global Islamic finance industry in 2014 with sukuk market making inroads into non-traditional issuance markets of Europe, Africa and East Asia. The emergence of new sources of sukuk in these regions highlights the growing acceptance of sukuk as a […]

By |June 4th, 2015|0 Comments

Principles of an Islamic Financial System

To know the light, we must also see the darkness. In part 1 (ISFIRE Nov 2014 Issue) we have already taken a look at how the darkness of the current financial system has enveloped the world and enslaved most of mankind to unending debt and interest repayments. The result is debt mountains piled upon […]

By |March 10th, 2015|0 Comments

Financial Reporting for Islamic Financial Institutions in Malaysia: Issues and Challenges

Malaysia pioneered the Islamic finance industry in many ways. Islamic banking, takaful, or sukuk, the country perpetuates to maintain its leading position in terms of market share and market growth. According to the forthcoming Global Islamic Finance Report 2015, Malaysia is maintaining its second position on the Islamic Finance Country Index (IFCI), second to […]

By |March 1st, 2015|0 Comments

Specific Risks Facing Islamic Banks & Financial Institutions (IBFIs)

Besides standard risks that Islamic as well as conventional banks face and manage, there are other risks that are specific to Islamic banks. Some of these risks are entirely new (like commercial displacement risk) and others are new yet fall under existing categorization of risk (like credit risk, market risk and interest rate risk […]

By |March 1st, 2015|0 Comments

Islamic Exchange Traded Funds (ETF), A Financial Innovation

Exchange Traded Funds (ETFs) emerged as one of the most innovative financial market instruments of the 20th century and have provided investors the advantage of risk diversification, index tracking, all-day trading, strategic trading capability, tax efficiency, lowest fees, and transparent holdings (Carty, 2001). According to Ferri (2008), ETFs marked an imperative investment revolution that […]

By |March 1st, 2015|0 Comments

Do Young Muslims Subscribe to Islamic Financial Products?

For the past 30 years of its existence, the Islamic Financial Services Industry (IFSI) has been successful in providing an array of financial products. We have also seen a steady double-digit growth. According to the forthcoming Global Islamic Finance Report 2015, Islamic banking and finance (IBF) assets grew at an annual rate of about […]

By |March 1st, 2015|0 Comments