Islamic Finance
The Maldives is scrambling to secure a financial lifeline to avoid becoming the first nation to default on a sovereign sukuk, a key form of Islamic debt. The island nation faces a critical payment deadline in October, and with dwindling foreign reserves, the price of its $500 million sukuk has
Islamic Finance
Islamic banking assets in the UK experienced a significant surge of 26% in 2023, reaching a total of $8.2 billion, according to a recent report by Fitch Ratings. This substantial growth underscores the UK’s status as a key Western hub for Shariah-compliant banking. Fitch projects that the UK’
Islamic Finance
The government of Pakistan is reducing borrowing costs using Islamic financial instruments like Ijara Sukuk. Experts claim these instruments are priced more competitively than conventional financial products. Prime Minister Shehbaz Sharif’s administration is managing the fiscal deficit as per the IMF agreement. According to a report by Business Recorder,