Ghana has been borrowing, servicing debts and paying interests for years. The cost of borrowing funds, the rate of interest, the amounts outstanding, plus any fees associated with the diverse financing arrangements over the years has become a burden on Ghana’s national finances. This has led the country to periodically Read more…
As recorded by Professor S.D Goiten, the basis of commerce and industry in the twelfth and thirteenth centuries in the Mediterranean region was formed through partnership and profit-sharing rather than interest-based borrowing and lending. From a very early stage in Islamic history, Muslims were able to gather resources to finance Read more…
RIYADH: Saudi Arabia’s sukuk issuances jumped by 37 percent in 2021, totalling $36.9 billion, up from $27 billion the year before, S&P Global Ratings revealed. The increase is attributed to the global issuance of foreign-currency denominated sukuk, which has increased by 10 percent in 2021, with large issuances in the Kingdom, Read more…
Islamic finance enthusiasts in Ghana have been urged to explore ways of kick starting operations in the short term as efforts to achieve a fully fledged Islamic banking and finance ecosystem gathers pace. This could entail teaming up with conventional banks to open windows – which will serve as a Read more…
Sukuk are financing infrastructure projects across Africa and contributing to socially useful ventures across the continent. Issued in local currencies sukuk are being used to fund infrastructure projects. A 2017 issuance for N100bn was heavily oversubscribed. The Federal Government of Nigeria has issued a number of sukuk, the proceeds of Read more…
IFRIG meets Ahmadiyyah Muslim Community National Imam (10/09/20); in preparation for the IFRIG ISLAMIC FINANCE FORUM 2020 (in November) in-shaa Allaah. Alhamdulillāh, a fruitful interaction. May Allaah facilitate khayr till Jannah
On Tuesday (08/09/2020), the IFRIG team paid a ministerial courtesy call to the Minister for Inner City and Zongo Development Hon. Dr. Mustapha Abdul Hamid, at his office( Osu Castle, Accra) to present our research on: “The impact of covid 19 on Zongo Businesses” and also to invite him to Read more…
Join us to thank Allah for our 1st office space in the airport area: GA-153-0554 Nii Armah Olennu Street, Airport West, Accra. ALHAMDULILLĀH… DATE FOR THE OFFICIAL OPENING OF THE OFFICE WILL BE COMMUNICATED SOON IN-SHAA ALLAAH. JAZAAKUM ALLAAH KHAYR. MAY ALLAH CONTINUE TO ACCEPT OUR HUMBLE EFFORTS & DUAAS Read more…
Bismillāh. Alhamdulillāh. Allahumma swalli alaa Muhammad wa sallim. It’s been one year, since we had some series of discussions after the creation of Islamic Finance Research Institute of Ghana (IFRIG) from the Gh Islamic bank ideas (GIBI) WhatsApp group. So far so good. Alhamdulilaah… Over a year on, we have Read more…
Shia Imam, Our visit to some Muslim Leaders: After meeting the Ahlu Sunnah national Imam, we met the Shia Imam too, IFRIG meetings (3/09/20); in preparation for the IFRIG ISLAMIC FINANCE FORUM 2020 (in November) in-shaa Allaah. Alhamdulillāh, a fruitful interaction. May Allaah facilitate khayr till Jannah