Sultan bin Saeed Al Mansouri, UAE Minister of Economy, has disclosed that the government cut off Dubai-based mortgage provider Amlak Finance’s debt by Dh4 billion.
The debt was reduced through delaying debt as well as through the sale of company’s la…
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Difficult funding in Europe is making Middle East issuers to tap the still-liquid Islamic finance markets for funds.
Dubai-based Emirates Islamic Bank issued a $500 million, five-year Islamic bond with a yield of 4.718%, while Abu Dhabi-based First Gul…
UM Financial came up for Canada’s 1.3 million Muslims with mortgages that don’t charge interest. But its failure last year has started a dangerous debate about whether Islamic banking should be banned, or whether it’s still a potentially lucrativ…
A man named Omar Kalair was told to rendezvous in the dead of the night in a deserted suburban parking lot and hand over a consignment of gold and silver bullion to achieve recognition on the debts of a secretive organization.
The bizarre payment of $2…
Although UM Financial Inc went into receivership back in October, the consequences of the bankruptcy are beginning to be noticed only now.
Besides the fact that the case risk is giving a bad name to sharia-compliant finance in North America, it also po…
The launch of Sharia compliant buy-to-let purchase plan has entered Islamic Bank of Britain into the buy-to-let mortgage market.
The IBB’s buy-to-let purchase plan can be accessed by landlords of any faith searching for ethical and Sharia compliant f…
Experts oppinion is that the Middle East and North Africa (Mena) mortgage market is set for double digit growth. They added that it was time developers laid stress on affordable housing rather than those out of reach of most.
The event was held at the …
Key to the growth of the housing sector in the Gulf Cooperation Council (GCC) countries is the development of mortgage finance. Because of the demography of the region where some 65 per cent of the population is under 30 years old, demand for affordabl…
Despite the existence of Shariah advisory councils, Islamic banks and financial institutions in Malaysia may be failing to carry out their duties. An article in this month’s JSSH investigates transactions on purchasing houses specifically on transact…
