Hackers stole the equivalent of roughly $90 million from Iran’s largest cryptocurrency exchange on Wednesday, according to multiple independent crypto-tracking firms. A skilled pro-Israel hacking ...

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is streamlining regulations on Islamic banking in the country, easing capitalization requirements for Islamic banking units (IBUs ...

Bangladesh Islamic Bank Merger: While Islamic banking is expanding despite the governance problems of some lenders led by the controversial S Alam Group, Bangladesh Bank Governor Ahsan H Mansur ...

In a landmark development for Islamic finance and digital banking, ruya (رويا), the UAE’s digital-first Islamic bank, has become the first Islamic bank globally to offer customers direct access to ...

Tuum, the core banking provider, announced the launch of its foundational Islamic Banking and Finance solutions, marking a key milestone towards delivering comprehensive, Sharia-compliant ...

Global Islamic Finance Leader: UAE's dynamic policies and innovative banking have positioned it as a key player in the $2.44 trillion Islamic finance industry.

Samba Bank Limited, a subsidiary of the Saudi National Bank of the Kingdom of Saudi Arabia, has announced plans to... AIRLINK 131.27 Decreased By -11.14 (-7.82%) BOP 9.77 Decreased By -0.36 (-3.55%) ...

Faisal Islamic Bank of Egypt followed closely in second place, recording EGP 240bn in business volume and a 23.6% market share. Banque Misr’s Islamic Transactions Unit ranked third, reaching EGP 195bn ...

Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the... AIRLINK 162.82 Decreased By -2.01 (-1.22%) BOP 9.99 Decreased By -0.01 (-0.1%) ...

Islamic banking generates income primarily from service fees, including deposit and transaction fees, insufficient funds charges, annual and monthly account service charges, and check-processing fees.

Islamic banking operates on a profit-and-loss-sharing basis, with mechanisms like Murabaha, Salam and Istisna contracts governing asset and service exchanges, ...