Countries

Deposits drop in Islamic banks, but loans surge DhakaTribune: Loan disbursements in Shariah-based banks significantly increased despite a sharp drop in deposit collection in December and January. According to a Bangladesh Bank report titled "Islamic Banking and Finance Statistics," loans disbursed by full-fledged Islamic banks surged by Tk10,866 crore, while their deposits decreased by Tk5,385 crore in December 2023 and January 2024. In January alone, deposits in...

Islamic finance in Indonesia fends off coronavirus chill Islamic finance has thrived in Indonesia despite the coronavirus, with banks and fintech companies rushing to tap the growing field even as the pandemic squeezes the country's banking sector overall. The trend benefits from a master plan for creating an economy compliant with Islamic law announced by President Joko Widodo in 2019. Differences include the prohibition of interest...