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Another aim of the partnership is licensing various CoinDesk Indices benchmarks for exchange-traded financial products, Also, HAQQ – a blockchain focused on creating a Shariah-compliant financial system and the home of Islamic Coin – will get access to CDI's API for selected digital assets, including for its digital asset exchange. Source
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Being one flight away from both Dubai and London, Istanbul is the “financial capital” of Turkey and a popular destination for events and organizations. Its convenient location also helps organizers customize their events to align with the specific needs of Eastern or Western cultures — which felt like the case
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Islamic banking and finance is a system based on the principles of Shariah, or Islamic law, which, among many other things, prohibits the charging or paying of interest on loans and emphasizes ethical and equitable financial transactions. One of the more notable traits of Islamic banking is its prohibition on charging
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The IMF explained that CBDCs design is complicated by Islamic law prohibiting usury and speculation. The International Monetary Fund (IMF) has examined the central bank digital currencies (CBDCs) design and found some risks in the context of Islamic banking. Following the IMF study, results showed that the liquidity of CBDCs and
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A central bank digital currency (CBDC) can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC
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Wahed has a plan to help its customers grow their funds in the most Sharia-compliant way.American financial technology and service provider, Wahed has extended its global reach with a newly opened office in the United Kingdom (UK). As reported by CNBC, the new office is like a storefront that looks
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Shariah-compliant Islamic Coin has secured $200M during its private sale from international private buyers. The crypto, targeting the world’s 2 billion Muslim population and ethics-first crypto adopters have broken all records, becoming the top private sale raise in 2022 and the top 10 raise in history. The Shariah-compliant digital currency has
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Warba Bank, a Kuwait-based Islamic bank, recently became the latest corporation from the Middle East and North Africa (MENA) to enter the metaverse. The bank now occupies two sites in the metaverse, one Decentraland and another one on Sandbox. Pioneering Digital Transformation In what has been described as a first for
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Top financier and banker Hussein Al Meeza has joined Islamic Coin – the Shariah-compliant cryptocurrency launched in the UAE. Having been named Best Islamic Banking Personality in 2006, Mr. Al Meeza is an acclaimed award-winning expert with over 40 years of experience spanning the Islamic banking, finance and insurance sectors,
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Indonesia’s financial watchdog the Otoritas Jasa Keuangan (OJK) warned financial institutions in the country against offering or facilitating crypto-asset sales.On Tuesday, the official Instagram account for OJK posted a warning against the growing number of crypto Ponzi schemes and risks of crypto investments owing to the market’s volatility. The official
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