Chevy Chase start-up Ovamba wants to use 'Islamic finance' to connect Africa's small businesses to wealthy investors

Chevy Chase start-up Ovamba wants to use 'Islamic finance' to connect Africa's small businesses to wealthy investors

The world’s prevailing financial institutions — banks, credit unions and equity markets — have mostly ignored sub-Saharan Africa. And “microfinance” organizations, while wildly successful in some parts of the Indian subcontinent, have had mixed results there. Could a smartphone app that applies principles of Islamic law help fill the gap? That’s the project being undertaken […]

Bajaj Finance market cap sails past Axis Bank

Bajaj Finance market cap sails past Axis Bank

Bajaj Finance on Friday surpassed Axis Bank in market value for the first time. The market capitalisation of the finance company stood at of Rs 134,952 crore on Friday after the stock gained 3.5 per cent to close at Rs 2,335. Axis Bank’s market capitalisation ended at Rs 134,725 crore. This makes Bajaj Finance the […]

Law director says Youngstown Finance Committee may have violated Sunshine Laws

Law director says Youngstown Finance Committee may have violated Sunshine Laws

YOUNGSTOWN, Ohio - Youngstown’s Law Director, Jeff Limbian said the Youngstown Finance Committee may have been allegedly making decisions privately after Wednesday’s finance and council meeting. He said after the public meeting, there “may have been discussions of finance committee members in violation of the Ohio Revised Code relative to additional funding of the fire department […]

Chairman Stack leaving Orange Finance Committee

Chairman Stack leaving Orange Finance Committee

ORANGE — Noticeably absent from the annual Town Meeting Monday and Tuesday was Finance Committee Chairman Robert Stack, who objected to changes the Selectboard recommended to next year’s budget. The $20.1 million budget, including the Selectboard’s recommended changes, voters ultimately passed Monday. The changes included approximately 1.5 percent pay increases for the town’s 11 nonunion […]

NHB directs housing finance cos to comply with IND-AS provisions

NHB directs housing finance cos to comply with IND-AS provisions

Housing Finance Companies (HFCs) have not got any relief or deferral on IND-AS implementation, on the lines extended for banks. Housing finance regulator National Housing Bank (NHB) has now directed HFCs to comply with the provisions of IND-AS as notified by the Corporate Affairs Ministry (MCA). This would mean HFCs will have to implement IND-AS […]

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