Customers stand in line at The Halal Guys’ food cart on West 53rd Street and 6th Avenue in New York (file). Halal Guys, which started as a street cart serving meat dishes in New York City, has proved so popular that the company plans 300 sit-down restaurants across the US in the next several years. […]
By Njiraini Muchira As the financial sector in the region grapples with a confidence crisis following the collapse of some banks, Islamic finance is expected to take root as governments enact laws that allow rollout of Sharia-compliant products and services. Currently, the Islamic finance market is dominated by conventional banks that have Islamic banking windows […]
The 2030 Agenda for Sustainable Development seeks to eradicate poverty in all its forms, promote sustained and inclusive economic growth and ensure social development and environmental protection while supporting peaceful, just and inclusive societies. To succeed, the international, national and local actors, including the private sector, will have to venture in a true global partnership […]
WASHINGTON (REUTERS) – The International Monetary Fund plans to formally include Islamic finance into its surveillance framework, a nod to the fast-growing sector but noting risks posed by complex hybrid products that replicate conventional ones. The IMF’s executive board said late on Tuesday it had adopted a set of proposals on the role it should […]
The World Bank Group and the Islamic Development Bank published the first Global Report on Islamic Finance, which details the prospects for the global Islamic finance industry and its potential to help reduce worldwide income inequality, enhance sharing prosperity, and achieve the Sustainable Development Goals. Subtitled “A Catalyst for Shared Prosperity?”, the report provides an […]
Russians invest $100 million in halal food sector Fatima Muhammad The global Islamic finance industry, which is witnessing phenomenal growth rates with expansions in Europe and sukuk listings, will see a new entrant in Russia that hopes to cash in on the substantial Muslim population in the European country. They have already started the process […]
Key takeaways. (Reuters/Wahyu Putro A/Antara Foto) By 2030, more than a quarter of the world’s population will be Muslim. However, most conventional financiers do not offer financing arrangements that suit the particular restrictions that Muslims face when it comes to money, contracts, and finance. Islamic finance is based upon principles of ethics and transparency—which means […]
The report proposes that after decades of increasing financial inequality and insecurity, the majority of citizens in the USA and UK have expressed their desire for change via the election of Trump and the Brexit referendum. This demographic has been broadly excluded from substantial wealth creation of recent decades that has been largely driven by […]
By Bernardo Vizcaino Feb 9 A global body for Islamic finance has issued a draft standard on centralized sharia boards, aiming to improve corporate governance in the industry and increase the consumer appeal of sharia-compliant financial products. The proposed rules come at a time when Islamic banks are trying to widen their appeal to consumers […]
One can make an argument that the only bright spot in Malaysian finance, commerce and politics today is Islamic finance. It is the only area where Malaysia leads the world. The Securities Commission intends to keep it that way and in January launched a five-year blueprint to cement its status. How? Malaysia already leads the […]
