COLOMBO ; KPMG Sri Lanka Principal–Tax and Regulatory and Deputy Head of Tax Rifka Ziyard was awarded the Gold Award for Women in Islamic Finance at the 10th Islamic Finance Forum of South Asia (IFFSA) Awards, held last Thursday (25) at Shangri-La Colombo. The award was presented by Chief Guest and Keynote Speaker former KPMG Sri Lanka & Maldives Managing …
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Amana Bank PLC is pleased to announce the declaration of its 8th consecutive annual dividend, reaffirming its commitment to rewarding shareholders. The Bank declared an interim cash dividend of Rs. 1.30 per share, marking its highest-ever dividend payout amounting to LKR 716.5 million. Since commencing annual dividends in 2018, Amana Bank’s cumulative dividend declarations will have exceeded LKR 2.8 billion, …
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Saudi Arabia presented its official symbol for the riyal today, the Saudi Central Bank (SAMA) has announced. “This initiative aims to promote Saudi Arabia’s financial identity, locally, regionally and internationally,” said SAMA. “It reinforces national identity and cultural belonging, highlights the role of the national currency, and showcases the Kingdom among major global economies and G20 members.” King Salman on …
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Muslims worldwide have come to the realisation that the prevailing capitalist economic system does not serve us ethically. With its interest-based banking and casino-style financial instruments, a devout believer has no choice but to attempt to escape its haram, even if that hinders the progress and prosperity of our daily lives. In recent years, Islamic finance has been touted …
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The Riyadh skyline. In Saudi Arabia, the implementation of Vision 2030 and continued growth in mortgage lending supported the Islamic finance industry’s growth, S&P said. EPA The global Islamic finance industry is expected to grow by around 10 per cent in 2023-2024 despite the economic slowdown, after posting a similar expansion in 2022 mainly led by the GCC countries, according to S&P Global …
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For many Australian Muslims like Reem and Fouad Alameddine, the dream of home ownership has been beyond reach. Paying or receiving interest is prohibited in Islam, so taking out a mortgage is off the table. With no other option, the couple face the prospect of becoming lifelong renters. “The hardest thing is the uncertainty of [renting],” Ms Alameddine said. “And also not being …
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