Middle-east Arab News Opinion | Asharq Al-awsat

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Receipt for money deposited into a savings account at the sacco in Wajir, Kenya, June 8, 2017. (Reuters)

Islamic Finance Provides Kenyans with Cushion against Drought

by Asharq Al-Awsat English | Jul 7, 2017 | Business

Hamara Hujale tries to keep an eye on two squirming children and a pot of simmering ugali – a white doughy dish – as she reaches for her buzzing phone. After speaking a few words, she hangs up and scribbles in a wrinkled notebook. “My driver has found another...

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Undated file photo showing the front entrance of the Moroccan central bank, the Bank Al-Maghreb. (Reuters)

Morocco’s lower house of parliament approves Islamic banking law

by Lahssen Moqana | Jun 26, 2014 | Business

Casablanca, Asharq Al-Awsat—Morocco’s lower house of parliament has approved a new banking law, which for the first time contains articles relating to Islamic banks, paving the way for a fledgling Islamic finance industry in the country after years of false starts....

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Morocco’s central bank governor Abdellatif Jouahari speaks to the media on September 24, 2013. (Reuters/Stringer)

Moroccan government receives new Islamic banking draft bill

by Lahssen Moqana | Jan 16, 2014 | Business

Casablanca, Asharq Al-Awsat—A draft Islamic banking law was presented to Morocco’s government on Thursday, in a bid to widen the Islamic financial products and institutions available in the North African Kingdom. The draft bill, which if ratified will be added as a...

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File photo of the Riyadh skyline. (AAA)

Islamic Development Bank scores high on credit ratings

by Asharq Al-Awsat | Dec 29, 2013 | Business

London, Asharq Al-Awsat—International ratings agencies Standard & Poor’s (S&P), Fitch Ratings and Moody’s have all awarded Jeddah-based Islamic Development Bank (IDB) their highest long-term and short-term credit rating scores, making the bank the most...

Media ID: 55301959
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File photo of an employee counting money in a bank in Cairo. (REUTERS/Asmaa Waguih/files)

Islamic finance body IILM sells debut USD 490 million sukuk

by Asharq Al-Awsat | Aug 26, 2013 | Business

Dubai, Reuters—A consortium of central banks from Asia, the Middle East and Africa has taken a first step towards developing a cross-border market in Islamic financial instruments by issuing a USD 490 million sukuk. The three-month Islamic bonds, denominated in US...