KUALA LUMPUR, Malaysia (MNTV) – The global Takaful (Islamic insurance) market is projected to reach $42–45 billion by 2028, driven by rising demand for ethical and Shariah-compliant financial solutions, according to Global Growth Insights. Takaful is a Shariah-compliant risk-sharing model in which participants contribute to a common fund used ...
MOSCOW (MNTV) — Russia is planning to open its first Islamic bank, potentially as early as 2026, as authorities move to expand Sharia-compliant financing for the country’s sizable Muslim population, a senior lawmaker said. Anatoly Aksakov, head of the State Duma Committee on the Financial Market, said officials are actively working on cr...
JAKARTA, Indonesia (MNTV) — Indonesia’s Islamic banking industry is approaching a pivotal moment, with the period leading up to 2026 widely seen as a transition from experimentation to consolidation and maturity, says Professor Mohammad Nur Rianto Al Arif of Syarif Hidayatullah State Islamic University. After more than a decade of gradual grow...
BISHKEK, Kyrgyzstan (MNTV) — Kyrgyzstan’s banking sector recorded sharp growth in the first nine months of 2025, with assets, loans and deposits all rising at double-digit rates, the National Bank said Wednesday. As of Sept. 30, the country operated 21 commercial banks and 305 branches. Total banking assets climbed 38 percent since January to ...
KUALA LUMPUR, Malaysia (MNTV) – Malaysia has marked another milestone in Islamic finance with the launch of the world’s first 118 million Malaysian ringgit ($28 million) climate sukuk, integrating Shariah principles with green finance, digital tokenization and carbon credit monetization, reports Malay Mail. A sukuk is an Islamic financial cert...
Says changes give industry players time to get familiar with reportorial requirements MANILA, Philippines (MNTV) — The central bank of the Philippines (Bangko Sentral ng Pilipinas or BSP) has eased its rules governing Islamic banking units, reports ABS-CBN. In a statement, the BSP said the rules institutionalize the three-year observation per...
BAKU, Azerbaijan (MNTV) — The introduction of Islamic banking windows in Azerbaijan is expected to create new income opportunities for local banks and enhance financial inclusion, according to a report by international ratings agency Moody’s. On October 7, the Central Bank of the Republic of Azerbaijan (CBA) announced that Islamic banking prod...
KUALA LUMPUR, Malaysia (MNTV) – Islamic insurance giant Takaful Malaysia Keluarga is bracing for tighter profit margins as rising taxes, new finance costs, and regulatory changes weigh on earnings, The Edge Malaysia reported. The country’s largest family takaful operator and second-largest general takaful provider, Takaful Malaysia holds marke...
TASHKENT, Uzbekistan (MNTV) — Uzbekistan has proposed a long-term Strategic Partnership Program with the Islamic Development Bank (IsDB), signaling ambitions to expand development financing and double the scale of joint projects across the country. President Shavkat Mirziyoyev announced the initiative on September 17 during a meeting with IsDB...
KUALA LUMPUR, Malaysia (MNTV) – Malaysian Prime Minister Anwar Ibrahim has been conferred the Global Islamic Finance Leadership Award 2025, where he urged the industry to go beyond profit metrics and serve as a moral compass in turbulent times, reports Malay Mail. The award, regarded as one of the most prestigious honours in the field, [&helli...
