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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.

 
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Publié par le avril 19, 2017 dans FinTech, UK

 

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Find your job at the “Opportunities Dubai & Gulf States Expo” London Olympia 07- 08 March 2009

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The United Arab Emirates (UAE) and wider Gulf States are looking for skilled and experienced people. If that’s you, then you’re already a step closer to your new life in Dubai, Abu Dhabi, Kuwait, Bahrain or any of the other growing Gulf States.

The easiest route starts with a job offer. The Opportunities Dubai & Gulf States Expo provides you with the possibility of finding that job – and you don’t have to travel out of the UK to get it!

The Expo will bring top employers and recruitment consultants to the UK. Job offers will be made at the expo, and in the weeks afterwards, to people with the right skills. Specialists will be at the expo to answer visa queries and hold free migration seminars.

According to Shelter Offshore, an online publication that specialises in “providing news, information and assistance to people who are interested in pursuing a low tax « off-shore » life style via relocation to a new country, investing in foreign markets or protecting their financial assets with prudent use of safe haven investments such as gold”, the popularity of the emirate of Dubai is increasing with expatriate Britons, Americans and Europeans as the credit crunch continues to bite back home, and job opportunities dry up.

Shelter Offshore say they have received a greater intensity of interest in information about working in Dubai in recent months than at any other point in the past, Dubai continuing to advance economically speaking, offering a low/no-tax lifestyle where the standard of living borders on the luxurious, and there are still plenty of employment opportunities.

To determine where there are likely to be jobs for expatriates living in Dubai, Shelter Offshore invites relocation candidates to look at the Free Trade Zones – for within these economic zones the majority of international companies operate.  You have Dubai Internet City where most jobs are ICT related, Dubai Media City which incorporates companies and therefore jobs in the broadcasting, advertising, publishing and production sectors.  DIFC (Dubai International Financial Centre) is home to banking, finance and insurance type companies and jobs, Dubai Maritime City is a service centre for the maritime industry, the Airport Free Zone is where there’s everything from straight airline related jobs to companies specialising in import and export.  Also, what about the Jebel Ali Free Zone which is the oldest of all the FTZs, the Biotechnology and Research Park, Healthcare City, Logistics City or Knowledge Village.

All of these free zones house companies employing expatriates in everything from management to engineering, construction to finance, education to healthcare, information technology to consultancy.  There are even jobs in the tourism industry, there are opportunities for those who teach English as a foreign language, and if you set your mind to it and look more objectively at your own skill and experience set, you will probably find an employment sector that could benefit from your valuable self.

Whilst the rest of the world seems to suffer from the global economic crisis, Dubai and the rest of the United Arab Emirates, whilst not immune are certainly coping much better with the way things are progressing fiscally speaking.  This can mean that there are more opportunities in Dubai and it can mean that for at least a fixed term contract, an offer of a job in Dubai could be just what you need to ride out the recession in comfort – if not style!

 
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Publié par le décembre 11, 2008 dans Dubai, recrutement, UK

 

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UK business schools offer Islamic Finance masters programmes

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Islamic finance principles may be a thousand years old but they have attracted the attention of the West only recently. Now business schools are offering specialist masters programmes on the subject.

While the world’s financial systems are shaken to their foundations, global stock markets tumble and thousands of bankers are made redundant, one area of finance goes from strength to strength. Islamic banking and finance principles may be a thousand years old but they have attracted the attention of Western financial services companies only recently. Now business schools are offering specialist masters programmes on the subject.

Islamic banking and finance must comply with Islamic law, or Sharia. This is governed by a number of fundamental principles and prohibitions and there are many differences from conventional finance.

“There is the absolute prohibition on the charging of interest,” says John Board, director of the International Capital Market Association (ICMA) Centre, part of Henley Business School at Reading University. ICMA runs an MSc in investment banking and Islamic finance, taught jointly with the International Centre for Education in Islamic Finance in Kuala Lumpur. “This leads to the question: how do you raise money in a way that is commercially sensible but does not involve paying interest?

“And on the investment side, there is a range of prohibited activities. For example, Islamic investors may not invest in businesses that trade in alcohol or pork-related products, or are involved in certain types of entertainment.”

Other restrictions include not being able to sell something unless you own it, or to invest in companies with high levels of debt. Taking all the restrictions into account, many conventional financial products, such as deposit accounts, mortgages, credit cards, insurance, bonds and many derivatives, such as futures and options, are out of bounds to Islamic investors.

Until recently, certainly in non- Islamic countries, there was little on offer for people who wanted Sharia-compliant banking and finance. However, substantial growth in this market over the past five to ten years, partly driven by Middle Eastern countries investing oil revenues, means more institutions are beginning to offer appropriate products and services. Islamic assets under management are about £400 billion, according to the Islamic Financial Services Board, an industry body.

Today Islamic finance and banking touches everything from large capital infrastructure projects to retail banking. HSBC in the UK, for example, has Sharia-compliant bank accounts and mortgages. And the increase in Islamic finance activity means there is a need for postgraduates with knowledge in this area. “There is a big demand for Islamic finance as a professional activity,” Board says.

Bangor Business School, at Bangor University in Wales, has launched a one-year full-time Islamic banking and finance MSc. “The aim is to provide students with an understanding of the key principles, products and services,” says Philip Molyneux, professor of banking and finance and the school’s head.

“The Islamic banking module, for example, starts by looking at the theoretical foundations and development of Islamic banking practices, the key features of different types of products and how products are offered without charging interest.”

Another module focuses on Islamic finance. “That looks at financial instruments, for instance investing in mutual funds, and what are and are not permitted investments.”

The Bangor programme also covers conventional banking and finance, as does the programme delivered at the ICMA Centre. Several other business schools offer an Islamic finance orientated elective as part of a general finance MSc.

Employment prospects are looking good. Despite the fallout from the credit crunch, Islamic finance specialists are much in demand, both in the Islamic world and in non-Islamic financial firms.

Source :  Steve Coomber, Times Online, December 3, 2008

 
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Publié par le décembre 7, 2008 dans Formations, UK, UK

 

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Natwest sets halal mortgage for commercial properties in UK

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NatWest bank has launched its first halal mortgage product, which is compliant with Shariah (Islamic) law. The new mortgage product available from NatWest Business Banking is for commercial properties and has been launched in response to strong customer demand and is specially tailored to the needs of the country’s two million Muslims. In accordance with Shariah law, the product will not charge interest. The bank is using the Islamic ‘Murabaha’ structure.

This means the bank will purchase the property from the vendor and immediately sell it to the customer. The price paid by the customer to the bank is repaid over a deferred period, and will consist of the price paid by the bank (less any customer deposit), and an element of profit for allowing repayment over a period of time. It has also been sanctioned by an internationally renowned and independent board of Islamic scholars.

NatWest has over 40 relationship managers across the country who are specially trained to meet the needs of the Islamic community, as well as a number of specialist banking teams to meet their needs, at the following locations: Bradford, Newcastle, London and Birmingham. The product is the first Shariah compliant facility that NatWest Business Banking has launched.

Chief executive officer of NatWest’s Business Banking team, Paul Lynam said: « We are committed to meeting the business needs of all customers. By introducing a Shariah compliant commercial mortgage, we are demonstrating our commitment to this growing community, and the broadening of our focus on this market. »

Source: M.E.N Media

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With the guidance of a Shariah Supervisory Board, The Royal Bank of Scotland has created a specialist product – ABT Finance, which allows companies to purchase commercial property with non-interest bearing finance.

 
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Publié par le novembre 5, 2008 dans UK

 

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UK Islamic home finance

The Guardian newspaper in the UK describes in detail the different types of Shari’ah-compliant home financing available in the country. There were a few very interesting facts presented. First, a small minority of customers using the Shari’ah-compliant home financing are non-Muslims; currently about 2 percent of the Islamic Bank of Britain’s customers are non-Muslims who turn to Islamic home finance for ethical reasons. Second, and this may provide a way for Islamic banks to broaden their interest beyond the Muslim market, is that in some cases, Islamic home finance is cheaper than traditional mortgages.

« If you bought a property for £250,000 using a diminishing Musharaka plan from HSBC Amanah, you would pay around £1,553 a month (made up of £1,246 in rent and £307 in contribution payments to increase your share), based on the bank buying 90 per cent and you putting down a 10 per cent deposit. If you took out a conventional two-year fixed-rate loan with HSBC (at 6.29 per cent and with a £799 fee) on £250,000, you’d pay around £1,655 a month over 25 years. »

There are of course differences in availability and structure that could negate the difference, the development of cost competitive Islamic home financing is a good thing for the industry as it seeks to expand beyond its current niche role.

Source: ihiBlog

Sharia-compliant mortgages are here – and they’re not just for Muslims

Huma Qureshi explains the ins and outs of the Islamic home loan market

Imagine a mortgage lender who allows you to take all the increase in the price of your home when you sell, but is prepared to share any loss if the property has fallen in value. Such a deal may seem too good to be true in the current property market, but it is exactly what a handful of banks specialising in Islamic home loans are offering.

Islamic mortgages have been in the mainstream market in the UK for some years but it can often be difficult to get to grips with sharia-compliant financial products, which can seem confusing. In Islam, making money from money by charging interest is deemed unfair and is not permitted. So where do you start when choosing an Islamic mortgage?

There are three models of Home Purchase Plans (HPPs): Ijara, which means ‘lease’ in Arabic; Musharaka, which means ‘partnership’; and Murabaha, meaning ‘profit’. Depending on the model, the lender will levy rent or add profit to the amount you pay back instead of charging interest.

Read: Guardian.co.uk

 
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Publié par le juillet 2, 2008 dans Housing Finance, RSS, UK

 

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