RSS

Archives de Catégorie: UK

Ummah Finance première banque islamique mobile

Ummah Finance

Mariage de la finance Islamique et de la Fintech, Ummah Finance proposera l’ensemble des services d’une banque conventionnelle à travers une banque 100% digitale qui associe sécurité, accessibilité et conformité à la Sharia.

Basée à Londres, la startup Ummah Finance est actuellement en phase de levée de fonds et de recrutement de ses équipes.

L’application Ummah Finance sera compatible iOS et Android et disponible sur App Store et Google Play.

Source : Le Journal de la Finance Islamique

© RIBH. Reproduction de l’article autorisée sous réserve de conserver les liens et la signature ci-dessus.

 
Poster un commentaire

Publié par le avril 19, 2017 dans FinTech, UK

 

Étiquettes : , , , , , , , , ,

La Banque d’Angleterre crée un fonds de liquidité pour les banques islamiques

Banque islamiques en Angleterre

La Banque d’Angleterre travaille depuis plus d’un an sur la faisabilité de la création d’une facilité de liquidité Sharia compliant. Cette démarche s’inscrit dans le cadre de sa stratégie visant à élargir les sources de liquidité pour le marché interbancaire et afin d’améliorer la position de Londres comme hub de la finance islamique pour attirer les opérateurs du Moyen Orient et d’Asie du Sud Est.

Partant du constat que les banques islamiques ne peuvent recourir aux facilités basées sur l’intérêt dans le cadre du Sterling Monetary Framework, et afin de permettre à ces institutions d’assumer leurs obligations de liquidité Bâle III, la Banque d’Angleterre a entamé en 2016 une consultation auprès des banques anglaises Gatehouse Bank, Bank of London and the Middle East BLME, Qatar Islamic Bank QIB UK, Al Rayan Bank (ex Islamic Bank of Britain IBB) et des opérateurs financiers nationaux et internationaux concernés.

Sur la base du feedback recueilli, et au lendemain de l’enclenchement du Brexit, la Banque d’Angleterre vient de publier un document complémentaire de cette consultation dans lequel elle confirme son intention d’établir une facilité de dépôt Charia compatible basée sur un fonds de type Sukuk, et où elle fournit des détails sur les aspects techniques de cette mise en place.

La Banque d’Angleterre sollicite l’avis des institutions et professionnels à propos de ce document intitulé “Shari’ah compliant liquidity facilities: establishing a fund based deposit facility”, les commentaires devant être transmis par email avant le 23 mai 2017 à

BoE mail

La Banque entamera la mise en place de cette facilité après examen et analyse des avis recueillis.

Consultation

Consultation paper, April 2017

Sur le même sujet : Le Maroc aura son marché interbancaire participatif

Source : Le Journal de la Finance Islamique

© RIBH. Reproduction de l’article autorisée sous réserve de conserver les liens et la signature ci-dessus.

 
Poster un commentaire

Publié par le avril 9, 2017 dans UK

 

Étiquettes : , , , , , , , ,

Islamic finance still active in the UK as the credit crunch deepens

alburaq_pic keith-leach-alburaq Keith Leach

UK’s economy is seeing a further deterioration, with a deepening recession, banking bail-outs and big-name retailers going bust. However, one sector of the market still active is Islamic Finance which is now both cheaper and more accessible. Most recently, alburaq, a UK Islamic ‘mortgage’ provider, has responded to interest-rate cuts by improving its range of Shari’ah-compliant Home Purchase Plans.

‘Our new product range means our new customers now have products priced from the equivalent of 5.49% on their home finance,’ explains Keith Leach, Head of alburaq. He continues: ‘The new year could bring even lower rates for our customers. If rates continue to fall as predicted, from March 09 many of our customers could be paying a rate equivalent to 4.5% or less.

In addition to the improving prices, there are plenty of other advantages for those choosing alburaq’s Islamic alternative. Recently, banks have been criticised for varying margins; imposing collar rates and reducing the range of mortgage products they offer. ‘Collar rates’ have made the headlines recently as many mortgage holders have discovered to their cost that their mortgage payments will not fall inline with the general drop in rates.

alburaq works very differently, as Leach explains: ‘When applying for a mortgage, the public would be well-advised to study carefully what margin will be applied, for how long it is guaranteed and whether there is a ‘collar’ rate. One of the distinguishing features of our products is that we fix our margins so these are clearly known from the outset and we don’t have a ‘collar’ on our rates. In addition, we don’t tie-in our customers for when we offer incentives, like fees assisted or cashback offers. We also allow unlimited overpayments, which isn’t always available with other Islamic or conventional mortgages.’

Leach continues: ‘Unlike many of the UK banks, we continue to offer a full range of products and we are still offering buy-to-let finance – which has almost disappeared from the conventional market.’

About alburaq

Alburaq is a brand name belonging to ABC International Bank plc (a subsidiary of the Arab Banking Corporation), a major Middle-Eastern banking group in which government agencies of Kuwait, Abu Dhabi and Libya have significant share-holdings. ABC was founded in 1980, and is headquartered in Manama, Bahrain. The Group has a well-established international network including offices in Paris, Milan, Frankfurt, London and of course the Arab world. ABC Group is one of the largest banks in the Arab world, with assets totalling approximately US$33 Billion (December 2007).

Islamic banking is a faith-based system of financial management, which derives its principles from the Shari’ah – Islamic ethics derived from three sources: the Holy Qur’an, the Hadith (sayings of the Prophet Muhammad pbuh) and the Sunnah (practices and traditions of the Prophet Muhammad pbuh).

For Muslims, giving or receiving interest (known as ‘Riba’ in Arabic), is strictly forbidden. All of alburaq’s products are free of from Riba, and operate in accordance with Shari’ah principles. Prior to launch, all alburaq products are reviewed by a Shari’ah Supervisory Committee (SSC), composed of respected Islamic scholars. Products are only launched once their structure and associated contracts have been approved by the SSC.

 
Poster un commentaire

Publié par le décembre 28, 2008 dans UK

 

Étiquettes : ,