Ijara Mortgages Doing Well and Other NewsMarch 2, 2018 at 4:01 pm
February was another good month for ijara mortgages. We took the time to do a little research and found out that things were going very well across all Islamic finance markets.
As far as banking goes, there have been a number of players looking to get into Muslim majority markets across the globe.
The Russian Islamic Economy Forum was held in Moscow on 27th February. Sberbank signed up to start developing Islamic financial services in retail and private banking as well as the corporate sector.
Closer to home, or at least dealing with a banking name we’re more familiar with, Goldman Sachs became a member of Saudi’s Tadawul. The move will allow it to start providing brokerage services in that area.
Deutsche Bank, Ijara Mortgages, and Islamic Finance
Deutsche Bank has plans for expansion where the UAE and Islamic finance are concerned. There are reports that they even have plans to hire up to 90 people in that area.
You might be asking what this all means to ijara mortgages and the answer is simple. As more and more financial institutions turn towards sharia compliant products, the scope of ijara products spreads globally.
Looking at it another way, sharia compliance is spreading and being seen more and more as a just way to do business.
Two Modern Birds
Here’s some more proof published at year’s end.
Pakistan Mercantile Exchange (PMEX) has killed two modern birds with one digital stone. They’ve brought about their first electronic Murabahah transaction in a move designed to pave the way for a Islamic money market leading to, among other things, Ijara loans.
The Dubai Financial Market (DFM) has done the same.
There’s lots of American spinoff to keep pace with this ijara mortgages news coming from all over the world. Global Finance magazine has even voted J.P. Morgan a winner in their annual roundup for 2017. The American-based financial institution got the nod for best Islamic custodian.