Coverage on Islamic finance and investments across Middle East and southeast Asia. Key areas of focus include corporate governance, regulatory developments and multiple types of investment/funding vehicles.
SYDNEY (Reuters) - Islamic finance is gaining prominence as a channel for China to expand its economic influence abroad as banks strengthen ties with Muslim-majority countries and Chinese companies start to tap offshore pools of Islamic funds. With a Muslim population of about 20 million, China has little reason to develop Islamic banking at home. But there are powerful reasons for it to get involved in the sector overseas.
US investment adviser aims to expand into Canada January 15 2019 09:32 PM Pedestrians pass in front of a Bank of Montreal branch in Vancouver, British Columbia, Canada. The 15-year-old, Florida-based Islamic wealth manager ShariaPortfolio has clients across 26 states and it hopes to open a Vancouver office in the second quarter of this year to fuel growth, chief executive officer Naushad Virji said.
(Reuters) - U.S.-based aid agency Mercy Corps has appointed consultancy IFAAS to help launch an Islamic microfinance business in Ethiopia, aiming to offer interest-free products to local communities, the firms said in a joint statement. Mercy Corps, one of the largest humanitarian organizations delivering aid to conflict zones including Syria, hopes Islamic finance can support financial inclusion efforts in the landlocked country.