search
Islamic finance
Trends
- 1Yandex Pay linked to crypto exchanges tied to Garantex●What happened in Russia... well, it turns out that the Yandex Pay service was linked to the biggest crypto exchanges, in
Yandex Pay, Russia's major payment service, has been found to be connected to leading cryptocurrency exchanges, including Garantex. Garantex is accused of transferring $95 million to Palestinian Islamic Jihad in Gaza shortly before the October 7 attack on Israel. The revelations are fueling discussion about Russian payment infrastructure's ties to sanctioned crypto platforms and possible financing of militant groups.
- 2
An Italian newspaper investigation reports that a so-called Islamic court, or sharia tribunal, operating in Padova, Veneto, is linked to an opaque financial network allegedly running from the Veneto region all the way to Iran. The report claims funds moved through unclear channels, raising questions about how such a body operates inside Italy and who finances it, and prompting debate over oversight of informal Islamic institutions.
- 3Islamic Development Bank and IMF Deepen Cooperation on Islamic Finance▼IsDB and IMF Strengthen Multilateral Cooperation on Islamic Finance, Financial Stability, and Global Development
The Islamic Development Bank and the International Monetary Fund have agreed to strengthen their multilateral cooperation on Islamic finance, financial stability, and global development. The partnership signals closer coordination between the two institutions on supporting member countries, promoting financial sector resilience, and advancing development goals across IsDB's membership.
- 4Islamic Development Bank and Thailand Deepen Development Partnership▼IsDB Group and Thailand Strengthen Partnership on Education, Community Resilience, and Inclusive Finance
The Islamic Development Bank Group and Thailand have agreed to strengthen cooperation on education, community resilience, and inclusive finance. The partnership signals growing engagement between the Jeddah-based multilateral bank and Southeast Asian economies, with a focus on expanding access to financing and building stronger, more resilient communities.
- 5IsDB Group and IFSB Formalise Framework for Development Finance Standards▼IsDB Group and IFSB Formalise Framework to Advance Development Finance with Prudential Standards
The Islamic Development Bank Group and the Islamic Financial Services Board have formalised a framework to advance development finance alongside prudential standards. The agreement is intended to strengthen cooperation between development financing and sound regulatory oversight in Islamic finance, supporting stability and growth in member countries and across the global Islamic financial industry.
- 6HSBC 'sharia-compliant' fund invested $100m in Israeli military-linked firms●HSBC ‘sharia‑compliant’ fund spent over $100m on five Israeli military‑linked firms
HSBC's Islamic finance fund invested more than $100 million in five Israeli companies linked to the military, according to a Middle East Eye report, raising questions about whether the holdings comply with sharia principles that bar investments in weapons and conflict-related activities. The report is drawing criticism from campaigners and scrutiny of the bank's ethical fund labelling.
- 7UAE and Morocco central banks hold Shariah authorities forum▼CBUAE, Bank Al-Maghrib organise Forum of Central Shariah Authorities
The Central Bank of the UAE and Bank Al-Maghrib of Morocco have jointly organised the Forum of Central Shariah Authorities. The gathering brings together Shariah governance bodies from central banks overseeing Islamic finance, reflecting growing coordination between the two regulators on standards and supervision of Shariah-compliant banking across their markets.
- 8Bank Muscat opens Shari'a money market fund to retail investors▼Bank Muscat opens Shari'a money market fund to retail investors from RO 100
Bank Muscat has opened its Shari'a-compliant money market fund to retail investors, with a minimum entry of 100 Omani rials. The move gives ordinary savers in Oman access to a low-risk, Islamic finance product that was previously limited to larger or institutional investors, and underscores the bank's push to broaden participation in Shari'a-compliant investment products.
- 9Global Finance Names Safest Islamic Financial Institutions In The GCC▼PRESS RELEASE: Global Finance Names The Safest Islamic Financial Institutions In The GCC
Global Finance has announced its rankings of the safest Islamic financial institutions in the Gulf Cooperation Council region. The list recognises Islamic banks and financial firms across GCC member states for their financial strength and stability. The rankings are expected to draw attention from investors, depositors and regulators monitoring the region's fast-growing Islamic finance sector, a key pillar of Gulf banking.
- 10Islamic Development Bank Chief Meets Indonesia's Finance Minister▼IsDB Group Chairman and Indonesia’s Finance Minister Discuss Development Partnership
The Chairman of the Islamic Development Bank Group held talks with Indonesia's Finance Minister on strengthening their development partnership. The meeting focused on cooperation between the bank and one of its largest member countries, though details of specific projects or funding commitments were not disclosed in the announcement.
- 11Islamic Development Bank Commits $2.56 Billion to Indonesia for 2026-2030●IsDB Group Announces US$2.56 Billion Indicative Financing Envelope for Indonesia’s 2026–2030 Partnership Strategy
The Islamic Development Bank Group has announced a US$2.56 billion indicative financing envelope to support Indonesia under a new partnership strategy covering 2026 to 2030. The multi-year package is set to fund development priorities in Southeast Asia's largest economy, though details on specific projects and sectors have not yet been outlined.