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Dubai on track to be Islamic economy hub

Dubai on track to be Islamic economy hub

Abu Dhabi, (IINA) : The Global Islamic Economy Summit 2016 kicked off in Dubai on Tuesday where industry specialists highlighted the challenges and opportunities of the global Islamic finance industry, which is estimated to be worth $3 trillion by 2020. ...

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Oman’s bank credit grows by 11.5%

Oman’s bank credit grows by 11.5%

Muscat (IINA) : The total outstanding credit extended by the Oman’s conventional and Islamic banks stood at OMR21.5 billion as at the end of July 2016, a rise of 11.5 percent over the same period a year ago, according to ...

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IDB extends financing worth of over $60 billion to SMEs

IDB extends financing worth of over $60 billion to SMEs

Geneva, (IINA) : The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, announced that the IDB had financed more than $60 billion of trade transactions to support small and medium enterprises (SMEs), Saudi ...

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India’s central bank opens door to Islamic finance

India’s central bank opens door to Islamic finance

Mumbai, (SM/IINA) : India’s central bank has proposed working with the government to introduce interest-free banking to tackle financial exclusion for religious reasons, potentially opening Islamic finance to the largest Muslim minority population in the world. The Reserve Bank of ...

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