IslamicFinance.de

An international workshop on waqf management begins in Dhaka tomorrow. The event is jointly organized by the Islamic Research and Training Institute, Islami Bank Bangladesh and the Centre for Zakat Management. The workshop on the revival of waqf for socio-economic development will review the rules and regulations of waqf management in different countries. President Abdul Hamid is scheduled to inaugurate the event. Islami Bank Chairman Arastoo Khan stated that waqf could play a vital role in developing the country and there were many rich people in the country who want to donate for waqf. A total of 29,341 accountholders of Islami Bank has so far deposited Tk 104 crore under its waqf product called Cash Waqf.

The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB) Group has signed an agreement with Al-Manhal, a provider of electronic scholarly publications, to host IRTI's Islamic finance publications in Al-Manhal electronic databases. The Memorandum of Understanding (MoU) provides for electronic versions of IRTI's publications--including books, reports, training manuals, and conference proceedings--to be made available to Al-Manhal subscribers that include universities, government agencies, corporations, and public libraries. IRTI Director General, Prof. Mohamed Azmi Omar, and Al-Manhal representative, Mr. Rany Al Baghdadi, jointly signed the MoU at the IDB Headquarters in Jeddah.

The Islamic Research and Training Institute (IRTI) and the General Council for Islamic Banks and Financial Institutions (CIBAFI) have signed a deal for a joint project to establish the first-of-its kind Islamic financial industry data repository. The online repository, to be named the ‘Islamic Financial Industry Intelligence (IFII)’, is aimed to be a one-stop shop for comprehensive and reliable Islamic financial and non-financial data and information. IFII would comprise several integrated databases covering all the components of the Islamic finance industry—including banking, insurance, and social finance.

The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank Group has signed an agreement with leading provider of Massive Open Online Courses (MOOCs), edX, to deliver Islamic banking and finance courses. On February 23, 2016, IRTI will begin offering, through the edX learning platform, free courses under two series, namely ‘Islamic Finance and Banking X’ and ‘Islamic Financial and Capital Markets X’. The IRTI MOOCs program is part of a project aimed at expanding access to knowledge in Islamic economics and finance to support the development of a dynamic Islamic financial industry globally. To register for the IRTI MOOCs, please visit http://irti.org/English/News/Pages/IRTI-is-launching-Massive-Open-Online....

The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank Group has launched the Islamic Social Finance Report 2015, which is the second edition in the series. This edition of the ISFR focuses on the Sub-Saharan Africa, outlining the regional trends and prospects as well as proposing policy recommendations for the Islamic social finance sector, which includes zakah, waqf and Islamic microfinance. It analyzed the regulatory environments and practices in six selected countries, namely Sudan, Nigeria, Kenya, Mauritius, South Africa and Tanzania.

The Islamic Research and Training Institute (IRTI) is pleased to announce the launch of the Malaysia Islamic Finance Report 2015, which is the latest in the Islamic Finance Country Reports (IFCR) series. You can download your copy of the Malaysia Islamic Finance Report 2015 here: http://www.irti.org/English/News/Documents/406.pdf You may also find the introductory video in YouTube: https://www.youtube.com/watch?v=IuJd-hTTnCE

The European Association for Islamic Economics, Banking and Finance (EUIEBF) and the Islamic Research and Training Institute (IRTI) is organizing Sarajevo's third Islamic Finance Conference. The conference will take place in Sarajevo, Bosnia and Herzegovina from 20-21 November 2014. This conference aims to gather Islamic banking, economics, and finance experts and students to discuss a wide range of topics and fill this gap in research. It will continue the development and acknowledgment of Islamic banking's increasing role in the world. Papers about relevant areas in Islamic economics and finance can be submitted for this conference. Please find detailed information in the attached document.

The Islamic Research and Training Institute (IRTI) is pleased to announce the IRTI YouTube channel with plenty of valuable video lectures in all areas of the Islamic Economics, Banking and Finance. Please visit the following links:

IRTI YouTube Channel: http://www.youtube.com/channel/UCy-k4v4XdMUnu641FY_MF5Q

IRTI Facebook page: https://www.facebook.com/IRTIKSA

Thomson Reuters released a country report on Islamic Finance in Morocco in collaboration with the Islamic Research and Training Institute (IRTI) and the General Council for Islamic Banks and Financial Institutions (CIBAFI). Based on exclusive retail consumer and corporate surveys, the report estimates that Islamic banking assets could potentially reach US$8.6 billion by 2018, with a profit pool of between US$67 million and US$112 million for Islamic finance providers. The national retail consumer survey indicates Moroccan Islamic banking assets could potentially reach up to 5% of total banking assets by 2018. However, Moroccans know very little about Islamic financial products, the report adds. Islamic banking and Takaful laws are expected to be passed by the Moroccan parliament this year.

A report “Mid-Term Review of the Ten-Year Framework and Strategies for Islamic Financial Services Industry (IFSI) Development” will be launched on 19 May 2014. The Mid-Term Review report is a joint initiative of the IFSB and Islamic Research and Training Institute (IRTI). Previously, in March 2007, the IFSB, IDB and IRTI had jointly developed, in consultation with a wide range of stakeholders, the IFSI Development: Ten-Year Framework and Strategies. After five years of the initial publication, a Mid-Term Review of the initiative was undertaken with the aim to assess the progress made, incorporate the new developments taking place in the global financial system and the challenges. The report will be available for download from the IFSB and IRTI websites, www.ifsb.org and www.irti.org from 19 May 2014.

Thomson Reuters has released the Islamic Social Finance Report 2014 in collaboration with the Islamic Research and Training Institute (IRTI). The report is the first of its kind study covering Islamic social finance across countries in South and Southeast Asia with sizeable Muslim populations including Indonesia, India, Pakistan, Bangladesh, Malaysia, Singapore and Brunei Darussalam. According to the report, Islamic social funds could potentially meet resource shortfalls to alleviate widespread poverty in those countries. The potential of Islamic social funds remains unrealized as actual Zakah and returns of Awqaf are not fully utilized in most countries. Additionally, there is no Islamic microfinance industry in most countries, which further diminishes the optimal potential of Islamic social finance.

Thomson Reuters will be discussing Oman's leading position as a preferred investment destination for Sukuk during an upcoming forum set to take place on February 24, 2013. It will be investigated what needs to be done to facilitate the country's entry to global Islamic financial markets by Thomson Reuters with support from the General Council for Islamic Banks and Financial Institutions (CIBAFI) and Islamic Research and Training Institute (IRTI). Thought leaders, bankers, and Shariah scholars will discuss the opportunities of setting up Islamic financial markets operations in Oman, how to capitalize on the global Islamic financial markets interest, and explore prospects to develop a strong Islamic interbank and fixed income market.