A number of Islamic financial institutions are embracing blockchain, viewing it as a sharia-compliant tool that can ease the administrative burdens of sharia certification.

Islamic finance underwent something of a revival in 2018 after a handful of slow years, and this return to growth is reflected in The Banker’s 2018 Islamic Bank of the Year Awards, which rewards the leaders in a field that is enjoying impressive net profits and returns on equity.  

As sharia-compliant finance grows and institutions embrace mobile and internet banking, observers believe the opportunities offered by Islamic fintech will become irresistible to the sector – despite its lack of global standards. Kit Gillet reports.

Now that important issuance and regulation milestones have been passed, Nigeria is well placed to succeed in its aim to become Africa’s Islamic banking hub. Kit Gillet reports.

As a relatively young market, the Islamic finance sector has evolved in a fractured fashion. This has driven the establishment of the International Islamic Liquidity Management Corporation to tackle the lack of high-quality liquid instruments in the market. James King talks to acting CEO Abdoul Aziz Ba about the challenges involved.

This year’s top Islamic financial institutions ranking shows better performances across the board, with less developed markets showing the most significant growth, and Africa seen as a prime market for expansion. James King reports.

While enjoying massive success, Islamic finance has developed in a piecemeal fashion, with many warning that global standardisation is needed if it is to avoid fragmentation and successfully push into frontier markets. James King reports.

The meteoric rise of the Islamic finance industry in recent years has slowed of late, but taken as a whole its growth still outscores that of its conventional counterpart. The Banker recognises the leading Islamic institutions of the past 12 months, each of which has shown innovation and growth in a maturing market. 

The Islamic finance industry continues to thrive despite falling oil prices in many of its key markets and regulatory changes that obstruct integration. As the sector matures, The Banker celebrate the industry’s finest in our Islamic Bank of the Year Awards 2016.

Kuwait boasts one of the most respected Islamic finance markets in the world. But ever keen to move with the times, the country is establishing a capital markets authority law designed to develop the domestic sukuk market, one of many recent boosts the industry has received.