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12 Dec

Who is going to control the Islamic Finance industry in the next five years? That is the question everyone might be interested in. The following article discusses that the main drivers of the industry in the next five years are going to be people with high net worth.

Individuals aged 25-50 will be the key driver of demand for Shariah-compliant products and services in the next five years. 

Most of the demand likely to come from GCC/Middle East, followed by Asia, particularly Indonesia and Malaysia, and also from Africa. 

Who is going to control the Islamic Finance industry in the next five years? That is the question everyone might be interested in. The following article discusses that the main drivers of the industry in the next five years are going to be people with high net worth.

Individuals aged 25-50 will be the key driver of demand for Shariah-compliant products and services in the next five years. 

Most of the demand likely to come from GCC/Middle East, followed by Asia, particularly Indonesia and Malaysia, and also from Africa. 

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11 Nov

 

Istanbul will host several major economic events next week with international participants from all around the world.

The events, including the World Halal Summit (WHS) and an official meeting of the Organization of Islamic Cooperation (OIC), will be attended by top officials from several countries.

On Nov. 25, the four-day 35th Ministerial Session of the Standing…

 

Istanbul will host several major economic events next week with international participants from all around the world.

The events, including the World Halal Summit (WHS) and an official meeting of the Organization of Islamic Cooperation (OIC), will be attended by top officials from several countries.

On Nov. 25, the four-day 35th Ministerial Session of the Standing…

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11 Nov

"Today`s economics no more as we know." This might be a strange title of an article for many of our readers. However, the following article seems to challenge the status quo in the field of economics. The article is actually a review of a book titled "Against Economics. "

The book attacks various tools of economics that the author believes have lost their validity in this time and age.

For example, the author challenges the Philips curve. He says:-

“We now live in a different economic universe than we did before the crash.…

"Today`s economics no more as we know." This might be a strange title of an article for many of our readers. However, the following article seems to challenge the status quo in the field of economics. The article is actually a review of a book titled "Against Economics. "

The book attacks various tools of economics that the author believes have lost their validity in this time and age.

For example, the author challenges the Philips curve. He says:-

“We now live in a different economic universe than we did before the crash.…

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11 Nov

JAKARTA (TheInsiderStories) – PT Modern Industrial Estate (MIE), unit of local property developer, PT Modernland Realty Tbk (IDX: MDLN) collaborated with Barakah Taiwan Halal Hub and four Islamic banks to develop Modern Halal Valey in ModernCikande Industrial Estate (MCIE), Serang, Banten.

The four local banks, namely PT Bank Mandiri Syariah, PT BRI Syariah, PT BNI Syariah and PT Bank Muamalat Indonesia prepared funds Rp2.1 trillion (US$150 million) to develop the…

JAKARTA (TheInsiderStories) – PT Modern Industrial Estate (MIE), unit of local property developer, PT Modernland Realty Tbk (IDX: MDLN) collaborated with Barakah Taiwan Halal Hub and four Islamic banks to develop Modern Halal Valey in ModernCikande Industrial Estate (MCIE), Serang, Banten.

The four local banks, namely PT Bank Mandiri Syariah, PT BRI Syariah, PT BNI Syariah and PT Bank Muamalat Indonesia prepared funds Rp2.1 trillion (US$150 million) to develop the…

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11 Nov

Should Jakim go global? That is the question we have been asking on various forums.  Jakim is increasingly becoming a household name for most of the halal accreditation bodies around the world.  Following is an analysis of Jakim`s foothold in the global halal industry.  The halal certification body may need to be more aggressive and strengthen its presence in the global halal stage.

THE GLOBAL halal market is set to grow exponentially due to increasing demand from Muslim as well as non-Muslim countries.

Reportedly, figures show that it is expected to reach US$9.71…

Should Jakim go global? That is the question we have been asking on various forums.  Jakim is increasingly becoming a household name for most of the halal accreditation bodies around the world.  Following is an analysis of Jakim`s foothold in the global halal industry.  The halal certification body may need to be more aggressive and strengthen its presence in the global halal stage.

THE GLOBAL halal market is set to grow exponentially due to increasing demand from Muslim as well as non-Muslim countries.

Reportedly, figures show that it is expected to reach US$9.71…

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10 Oct

UAE to help Bangladesh set up Global Halal Certification Center. This move is in the backdrop of a global surge in the halal food industry. Recently, both UAE and Bangladeshi officials met to discuss the details on how the UAE, a leader in the global certification will help Bangladesh set up a global Halal Certification Center.

Dhaka, Oct 26 (UNB) – The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday sought support from the United Arab Emirates (UAE) to set up a Global Halal Certification Centre here.

The issue came up for discussion…

UAE to help Bangladesh set up Global Halal Certification Center. This move is in the backdrop of a global surge in the halal food industry. Recently, both UAE and Bangladeshi officials met to discuss the details on how the UAE, a leader in the global certification will help Bangladesh set up a global Halal Certification Center.

Dhaka, Oct 26 (UNB) – The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday sought support from the United Arab Emirates (UAE) to set up a Global Halal Certification Centre here.

The issue came up for discussion…

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10 Oct

Dubai launches `world`s First` AI-based fatwa service. Currently, the `Virtual Ifta` can answer 205 questions related to prayer. However, the organizers plan to expand this service to other areas of the Muslim faith as well in the near future.

Dubai: Dubai on Tuesday launched ‘Virtual Ifta’, said to be the world’s first service using Artificial Intelligence (AI) to issue fatwas or Islamic rulings on religious matters.

Instead of an Islamic scholar answering questions over the phone, the AI-powered Virtual Ifta takes live questions on internet chat and replies back…

Dubai launches `world`s First` AI-based fatwa service. Currently, the `Virtual Ifta` can answer 205 questions related to prayer. However, the organizers plan to expand this service to other areas of the Muslim faith as well in the near future.

Dubai: Dubai on Tuesday launched ‘Virtual Ifta’, said to be the world’s first service using Artificial Intelligence (AI) to issue fatwas or Islamic rulings on religious matters.

Instead of an Islamic scholar answering questions over the phone, the AI-powered Virtual Ifta takes live questions on internet chat and replies back…

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10 Oct

Egyptian companies plan to invest $1 billion in Pakistan’s energy, infrastructure, halal food, and tourism sectors, the Arab News reported Thursday.

According to the report, Egypt’s Ambassador to Pakistan Ahmed Fadel Yacoub said the investment would come from his country’s private sector. “Investment projects will begin in the next year,” he was quoted as saying.

Yacoub said representatives of these Egyptian companies met with Prime Minister Imran Khan, members of his cabinet and state functionaries during their visits to Islamabad.

Zubair Gilani, the chairman of…

Egyptian companies plan to invest $1 billion in Pakistan’s energy, infrastructure, halal food, and tourism sectors, the Arab News reported Thursday.

According to the report, Egypt’s Ambassador to Pakistan Ahmed Fadel Yacoub said the investment would come from his country’s private sector. “Investment projects will begin in the next year,” he was quoted as saying.

Yacoub said representatives of these Egyptian companies met with Prime Minister Imran Khan, members of his cabinet and state functionaries during their visits to Islamabad.

Zubair Gilani, the chairman of…

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10 Oct

Sri Mulyani Indrawati has been reappointed as Finance Minster of Indonesia. This could provide a stability to the Indonesian President Joko Widodo economic team as he has an aggressive economic agenda to follow in his second term as the president of the country.  The appointment could also be a good news for the growth of Islamic Finance industry in the country.

Indonesian President Joko Widodo reappointed Sri Mulyani Indrawati as finance minister in a new cabinet, providing stability to his team as he seeks to deliver on pledges to boost Southeast Asia’s biggest economy…

Sri Mulyani Indrawati has been reappointed as Finance Minster of Indonesia. This could provide a stability to the Indonesian President Joko Widodo economic team as he has an aggressive economic agenda to follow in his second term as the president of the country.  The appointment could also be a good news for the growth of Islamic Finance industry in the country.

Indonesian President Joko Widodo reappointed Sri Mulyani Indrawati as finance minister in a new cabinet, providing stability to his team as he seeks to deliver on pledges to boost Southeast Asia’s biggest economy…

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10 Oct

Turkey has agreed to help the Kingdom develop its nascent halal industry.

Image removed.During an official visit to Ankara, Turkey, last week, Cambodian Minister of Commerce Pan Sorasak requested Turkey’s assistance to improve the quality of halal food…

Turkey has agreed to help the Kingdom develop its nascent halal industry.

Image removed.During an official visit to Ankara, Turkey, last week, Cambodian Minister of Commerce Pan Sorasak requested Turkey’s assistance to improve the quality of halal food…

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10 Oct

Malaysia has one of the best frameworks for promoting the Islamic economy and all its sectors locally and on a global scale. Following is a brief introduction of the major stakeholders and government bodies operating in the country to promote the halal industry to the next level. The information is readily available in a report published by the Ministry Of Human Resources, Malaysia

Stakeholders are defined as a person, group or organization that has interest or stake in an organization or in an industry.

Within the Malaysian halal industry, the following are the key…

Malaysia has one of the best frameworks for promoting the Islamic economy and all its sectors locally and on a global scale. Following is a brief introduction of the major stakeholders and government bodies operating in the country to promote the halal industry to the next level. The information is readily available in a report published by the Ministry Of Human Resources, Malaysia

Stakeholders are defined as a person, group or organization that has interest or stake in an organization or in an industry.

Within the Malaysian halal industry, the following are the key…

Posted by: hamza
0 comments
10 Oct

JAKARTA – Indonesia’s new government halal certifier admits the front-end of its system is not 100 per cent ready for the planned October 17 start of mandatory halal certification but its system can already be implemented, BPJPH head Prof Sukoso told Salaam Gateway.

Prof Sukoso spoke to Salaam Gateway on Tuesday, a week after the release of a report by the government’s Ombudsman…

JAKARTA – Indonesia’s new government halal certifier admits the front-end of its system is not 100 per cent ready for the planned October 17 start of mandatory halal certification but its system can already be implemented, BPJPH head Prof Sukoso told Salaam Gateway.

Prof Sukoso spoke to Salaam Gateway on Tuesday, a week after the release of a report by the government’s Ombudsman…

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10 Oct

There has been a lot of talk about the global halal industry and the immense opportunities it offers to individuals and companies which are involved in doing halal businesses globally.  However, many of them are struggling to grow beyond their local markets.  Of course, there are quite a few reasons behind the sluggish performance of these wannabe global halal businesses. The reasons could be language barriers and time differences or simply lack of communication among the prospective buyers and sellers.

Today, we want to discuss the most important reasons due to which these…

There has been a lot of talk about the global halal industry and the immense opportunities it offers to individuals and companies which are involved in doing halal businesses globally.  However, many of them are struggling to grow beyond their local markets.  Of course, there are quite a few reasons behind the sluggish performance of these wannabe global halal businesses. The reasons could be language barriers and time differences or simply lack of communication among the prospective buyers and sellers.

Today, we want to discuss the most important reasons due to which these…

Posted by: hamza
0 comments
10 Oct

Malaysia's Budget 2020 was tabled last Friday, charting the economic direction of the nation. Broadly speaking, there were some hits and misses but many agree that there was there is a bigger focus of building a digital economy.

Surina Shukri, the CEO of MDEC, the lead agency for driving Malaysia’s digital economy noted in a media statement that the Budget 2020 marks an inflection point in the Government’s steering of the Digital Economy.

Of course, no digital economic agenda would be complete if it did not have fintech as its backbone to power its commerce. Which is why it…

Malaysia's Budget 2020 was tabled last Friday, charting the economic direction of the nation. Broadly speaking, there were some hits and misses but many agree that there was there is a bigger focus of building a digital economy.

Surina Shukri, the CEO of MDEC, the lead agency for driving Malaysia’s digital economy noted in a media statement that the Budget 2020 marks an inflection point in the Government’s steering of the Digital Economy.

Of course, no digital economic agenda would be complete if it did not have fintech as its backbone to power its commerce. Which is why it…

Posted by: hamza
0 comments
10 Oct

The capital raised by the Sukuk supports Warba Bank’s further expansion and development plans across a full range of banking and investment services, as well as its commitment to Sharia’a-compliant financing solutions.

It is the second Sukuk to be listed by Warba Bank on the region’s international financial exchange, following the listing of a 250 million US dollar instrument in March 2017.

Shaheen Al-Ghanem, Chief Executive of Warba Bank, said“We are delighted to reinforce the strong capital markets links between Kuwait and the UAE…

The capital raised by the Sukuk supports Warba Bank’s further expansion and development plans across a full range of banking and investment services, as well as its commitment to Sharia’a-compliant financing solutions.

It is the second Sukuk to be listed by Warba Bank on the region’s international financial exchange, following the listing of a 250 million US dollar instrument in March 2017.

Shaheen Al-Ghanem, Chief Executive of Warba Bank, said“We are delighted to reinforce the strong capital markets links between Kuwait and the UAE…

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10 Oct

UAE companies are expected to invest up to the US $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project, according to Gulf News. They are making this huge investment despite the fact that India has been crushing Muslims in India and Kashmir.

The investments are aimed at securing the UAE’s food security, Piyush Goyal, Indian Minister of Railways and Minister of Commerce and Industry told…

UAE companies are expected to invest up to the US $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project, according to Gulf News. They are making this huge investment despite the fact that India has been crushing Muslims in India and Kashmir.

The investments are aimed at securing the UAE’s food security, Piyush Goyal, Indian Minister of Railways and Minister of Commerce and Industry told…

Posted by: hamza
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10 Oct

The Iranian President said Mo. that he has developing economic ties on his agenda before leaving for Armenia to attend the Eurasian Economic Union (EAEU) Summit.

Speaking on Monday evening at Tehran Mehrabad airport before leaving for Yerevan to attend the Eurasian Economic Union (EAEU) Summit, President Hassan Rouhani said that his visit is mainly an economic visit, adding that “the Islamic Republic of Iran is joining the EAEU this October.”

According to the official website of the Iranian presidency ‘president.ir’, Rouhani also said, “a country’s economy grows when it can…

The Iranian President said Mo. that he has developing economic ties on his agenda before leaving for Armenia to attend the Eurasian Economic Union (EAEU) Summit.

Speaking on Monday evening at Tehran Mehrabad airport before leaving for Yerevan to attend the Eurasian Economic Union (EAEU) Summit, President Hassan Rouhani said that his visit is mainly an economic visit, adding that “the Islamic Republic of Iran is joining the EAEU this October.”

According to the official website of the Iranian presidency ‘president.ir’, Rouhani also said, “a country’s economy grows when it can…

Posted by: hamza
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09 Sep

Indonesia will launch its Islamic fintech roadmap in the third quarter of 2020, Afdhal Aliasar, Director of Islamic Economy Development and Halal Industry, National Islamic Finance Committee (KNKS).

The director said Islamic fintech is growing so quickly in Indonesia that the national body wants to ensure its development is implemented “in a good way”.

“The maqasid of Shariah must be implemented not only to get more customers or to increase the volume of transactions but we need to also focus on the values of the Islamic economy,” Afdhal told Salaam Gateway on September 25…

Indonesia will launch its Islamic fintech roadmap in the third quarter of 2020, Afdhal Aliasar, Director of Islamic Economy Development and Halal Industry, National Islamic Finance Committee (KNKS).

The director said Islamic fintech is growing so quickly in Indonesia that the national body wants to ensure its development is implemented “in a good way”.

“The maqasid of Shariah must be implemented not only to get more customers or to increase the volume of transactions but we need to also focus on the values of the Islamic economy,” Afdhal told Salaam Gateway on September 25…

Posted by: hamza
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09 Sep

The Dean of School of Economics at the University of Cape Coast has admonished the Dubai Chamber International to scale up its dialogue to higher corridors of power where a regulatory framework can be established to allow for such banks.

Prof John Gatsi says even though the idea is to set up such a bank to give alternative financial services to Ghanaians, care must be taken not to use the population size of Muslims in the country as the basis to push for such good intentions. 

Speaking to Joy Business at the Dubai Chamber International Islamic Banking Forum held in Accra,…

The Dean of School of Economics at the University of Cape Coast has admonished the Dubai Chamber International to scale up its dialogue to higher corridors of power where a regulatory framework can be established to allow for such banks.

Prof John Gatsi says even though the idea is to set up such a bank to give alternative financial services to Ghanaians, care must be taken not to use the population size of Muslims in the country as the basis to push for such good intentions. 

Speaking to Joy Business at the Dubai Chamber International Islamic Banking Forum held in Accra,…

Posted by: hamza
0 comments
09 Sep

Dean of the University of Cape Coast Business School, Professor John Gatsi, has requested the Central Bank to provide a clear regulatory framework that will allow the integration of Islamic banking to Ghana’s financial space.

According to him, the Bank of Ghana is “giving assurance as if they have the capacity to give license but as it is now, they don’t have because they don’t have a regulatory framework for Islamic banking. You cannot give license to people to operate Islamic banking when very clear regulatory framework is not developed. That must be done and that is the job…

Dean of the University of Cape Coast Business School, Professor John Gatsi, has requested the Central Bank to provide a clear regulatory framework that will allow the integration of Islamic banking to Ghana’s financial space.

According to him, the Bank of Ghana is “giving assurance as if they have the capacity to give license but as it is now, they don’t have because they don’t have a regulatory framework for Islamic banking. You cannot give license to people to operate Islamic banking when very clear regulatory framework is not developed. That must be done and that is the job…

Posted by: hamza
0 comments
09 Sep

In 2015, Junaid Wahedna stepped out of a taxi in New York, bewildered by the conversation he had just had with the driver. The young financial analyst’s cabbie, and fellow Muslim, said he had recently sought financial advice from his imam.

This is not unusual behaviour: every day, Islam’s spiritual leaders are called upon to counsel on many matters of life including personal finance. Sharia law imposes a range of restrictions on investment, and some of these rules are open to interpretation.

What surprised Mr Wahedna was that the driver’s imam had told him to put his entire…

In 2015, Junaid Wahedna stepped out of a taxi in New York, bewildered by the conversation he had just had with the driver. The young financial analyst’s cabbie, and fellow Muslim, said he had recently sought financial advice from his imam.

This is not unusual behaviour: every day, Islam’s spiritual leaders are called upon to counsel on many matters of life including personal finance. Sharia law imposes a range of restrictions on investment, and some of these rules are open to interpretation.

What surprised Mr Wahedna was that the driver’s imam had told him to put his entire…

Posted by: hamza
0 comments
09 Sep

Dubai Islamic Economy Development Centre announces agreement with the Dubai International Financial Centre, the Dubai Financial Market and Climate Bonds Initiative

Dubai Islamic Economy Development Centre (DIEDC) on Monday signed a memorandum of understanding (MoU) to collaborate on growing the green sukuk sector.

The agreement was signed with the Dubai International Financial Centre (DIFC), the Dubai Financial Market (DFM), and Climate Bonds Initiative (CBI), a statement said.

It aims to promote the issuance of green sukuk in the UAE and across the world, in…

Dubai Islamic Economy Development Centre announces agreement with the Dubai International Financial Centre, the Dubai Financial Market and Climate Bonds Initiative

Dubai Islamic Economy Development Centre (DIEDC) on Monday signed a memorandum of understanding (MoU) to collaborate on growing the green sukuk sector.

The agreement was signed with the Dubai International Financial Centre (DIFC), the Dubai Financial Market (DFM), and Climate Bonds Initiative (CBI), a statement said.

It aims to promote the issuance of green sukuk in the UAE and across the world, in…

Posted by: hamza
0 comments
09 Sep

Dubai, UAE: As part of the strategic partnership between Dubai Land Department (DLD) and the 18th edition of Cityscape Global 2019, which was inaugurated today by HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, DLD offered a…

Dubai, UAE: As part of the strategic partnership between Dubai Land Department (DLD) and the 18th edition of Cityscape Global 2019, which was inaugurated today by HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, DLD offered a…

Posted by: hamza
0 comments
09 Sep

DUBAI, 24th September, 2019 (WAM) -- Dubai Islamic Economy Development Centre, DIEDC, has received a senior financial delegation from Indonesia that aimed to learn about the Islamic economy system in the UAE and explore opportunities for cooperation.

The delegation comprised senior officials from Bank Indonesia – the central bank of the country – and the Indonesia Halal Lifestyle Centre, as well as representatives of Indonesian organisations active within the Islamic economy sectors.

Abdulla Mohammed Al Awar, CEO of DIEDC; Saeed Mubarak Kharbash Al Marri, Deputy CEO of…

DUBAI, 24th September, 2019 (WAM) -- Dubai Islamic Economy Development Centre, DIEDC, has received a senior financial delegation from Indonesia that aimed to learn about the Islamic economy system in the UAE and explore opportunities for cooperation.

The delegation comprised senior officials from Bank Indonesia – the central bank of the country – and the Indonesia Halal Lifestyle Centre, as well as representatives of Indonesian organisations active within the Islamic economy sectors.

Abdulla Mohammed Al Awar, CEO of DIEDC; Saeed Mubarak Kharbash Al Marri, Deputy CEO of…

Posted by: hamza
0 comments
09 Sep

In a failed attempt to disrupt the global economy, the Islamic Republic of Iran attacked the Kingdom of Saudi Arabia.  This act of aggression was sophisticated in its planning and brazen in its execution.  Regardless of transparent attempts to shift blame, the evidence points to Iran—and only Iran.  As a result, President Trump instructed his administration to substantially increase the already-historic sanctions on the world’s leading state sponsor of terrorism.  Today, we have followed through on his direction.

The United States…

In a failed attempt to disrupt the global economy, the Islamic Republic of Iran attacked the Kingdom of Saudi Arabia.  This act of aggression was sophisticated in its planning and brazen in its execution.  Regardless of transparent attempts to shift blame, the evidence points to Iran—and only Iran.  As a result, President Trump instructed his administration to substantially increase the already-historic sanctions on the world’s leading state sponsor of terrorism.  Today, we have followed through on his direction.

The United States…

Posted by: hamza
0 comments
09 Sep

The Metropolitan Law Firm has invited members the public to the 4th edition of the African International Conference on Islamic Finance (AICIF), a gathering of the leading financial experts, regulators and frontline voices from the global banking community to discuss how Africa can enhance its markets, build stronger, more robust economic ecosystems and ensure wider financial inclusion.

This year’s conference is themed: Infrastructure Financing, Sustainability and the Future of African Markets and will hold on the 4th & 5th of November, 2019 at the Eko Hotels and Suites,…

The Metropolitan Law Firm has invited members the public to the 4th edition of the African International Conference on Islamic Finance (AICIF), a gathering of the leading financial experts, regulators and frontline voices from the global banking community to discuss how Africa can enhance its markets, build stronger, more robust economic ecosystems and ensure wider financial inclusion.

This year’s conference is themed: Infrastructure Financing, Sustainability and the Future of African Markets and will hold on the 4th & 5th of November, 2019 at the Eko Hotels and Suites,…

Posted by: hamza
0 comments
09 Sep

KARACHI: Rating agency Moody’s on Thursday said Islamic banking in Pakistan has substantial growth potential as around 80 percent of the country’s population remains unbanked in the Muslim majority economy.

“With Pakistan’s Muslim population reaching more than 96 percent of the country’s total population and 79 percent of the population remaining unbanked, according to World Bank data, the potential for Islamic banking penetration is substantial,” Moody’s Investors Service said in a report on Thursday.

“As Islamic banking institutions attract more shariah-compliant deposits…

KARACHI: Rating agency Moody’s on Thursday said Islamic banking in Pakistan has substantial growth potential as around 80 percent of the country’s population remains unbanked in the Muslim majority economy.

“With Pakistan’s Muslim population reaching more than 96 percent of the country’s total population and 79 percent of the population remaining unbanked, according to World Bank data, the potential for Islamic banking penetration is substantial,” Moody’s Investors Service said in a report on Thursday.

“As Islamic banking institutions attract more shariah-compliant deposits…

Posted by: hamza
0 comments
09 Sep

Moody’s Investors Service has in its report on Pakistan’s Islamic banking landscape highlighted the increase in banking sector’s profitability due to increased penetration of Islamic banking services in the country. 

On 13 September, the State Bank of Pakistan released its latest Islamic Banking Bulletin showing that Shariah-compliant assets had increased 21% during the fiscal year that ended in June 2019 to reach a market share of 14.4% of total system assets. 

The report states that Islamic deposits have grown 21% on a compound annual basis for the six-year period through…

Moody’s Investors Service has in its report on Pakistan’s Islamic banking landscape highlighted the increase in banking sector’s profitability due to increased penetration of Islamic banking services in the country. 

On 13 September, the State Bank of Pakistan released its latest Islamic Banking Bulletin showing that Shariah-compliant assets had increased 21% during the fiscal year that ended in June 2019 to reach a market share of 14.4% of total system assets. 

The report states that Islamic deposits have grown 21% on a compound annual basis for the six-year period through…

Posted by: hamza
0 comments
09 Sep

HCM City - Việt Nam has missed out on US$23.6 billion in exports to halal markets, according to experts who spoke at a seminar on standards needed for Halal certification on Monday.

The event was organised by the HCM City Investment and Trade Promotion Centre (ITPC).

Director of ITPC Phạm Thiết Hoà said the logo that certifies halal standards on products was proof that it could be consumed by Muslims.

Halal certification plays a major role in protecting consumer interests because it not only meets religious requirements but also complies with strict food safety and…

HCM City - Việt Nam has missed out on US$23.6 billion in exports to halal markets, according to experts who spoke at a seminar on standards needed for Halal certification on Monday.

The event was organised by the HCM City Investment and Trade Promotion Centre (ITPC).

Director of ITPC Phạm Thiết Hoà said the logo that certifies halal standards on products was proof that it could be consumed by Muslims.

Halal certification plays a major role in protecting consumer interests because it not only meets religious requirements but also complies with strict food safety and…

Posted by: hamza
0 comments
09 Sep

The government’s efforts to foster a Muslim-friendly environment, including the promotion of Halal certification, has turned Taiwan into a top-three destination for Muslim travelers, President Tsai Ing-wen (蔡英文) said yesterday, citing this year’s Global Muslim Travel Index.

This has been the greatest accomplishment of the New Southbound Policy since its implementation in 2016 and the government would continue its efforts to attract Muslim tourists, she said.

Tsai yesterday hosted a delegation from the Taipei-based Chinese Muslim Association at the Presidential Office…

The government’s efforts to foster a Muslim-friendly environment, including the promotion of Halal certification, has turned Taiwan into a top-three destination for Muslim travelers, President Tsai Ing-wen (蔡英文) said yesterday, citing this year’s Global Muslim Travel Index.

This has been the greatest accomplishment of the New Southbound Policy since its implementation in 2016 and the government would continue its efforts to attract Muslim tourists, she said.

Tsai yesterday hosted a delegation from the Taipei-based Chinese Muslim Association at the Presidential Office…

Posted by: hamza
0 comments
09 Sep

TEHRAN (Tasnim) – A professor of anthropology at the University of Minnesota praised Iran’s internal economy as “very robust” and expressed confidence that the Islamic Republic would outlast the economic sanctions imposed by the US.

“…, Iran has a very robust internal economy,” William Beeman said in an interview with Tasnim.

“I have great faith in the Iranian economy and the resilience of the Iranian people,” he said, adding, “Iran survived the debilitating war with Iraq from 1980-1988, and I believe it will outlast these economic sanctions as…

TEHRAN (Tasnim) – A professor of anthropology at the University of Minnesota praised Iran’s internal economy as “very robust” and expressed confidence that the Islamic Republic would outlast the economic sanctions imposed by the US.

“…, Iran has a very robust internal economy,” William Beeman said in an interview with Tasnim.

“I have great faith in the Iranian economy and the resilience of the Iranian people,” he said, adding, “Iran survived the debilitating war with Iraq from 1980-1988, and I believe it will outlast these economic sanctions as…

Posted by: hamza
0 comments
09 Sep

DUBAI, 18th September, 2019 (WAM) -- Dubai Cultiv8 Investments Limited, Dubai Cultiv8, a subsidiary of the Mohammed Bin Rashid Fund for SME (an integrated division of the Department of Economic Development), announced a multi-million dollar investment in Wahed Invest (Wahed) through its US$100 million Technology Fund.

The New York-headquartered Shariah-compliant digital investment advisor allows savers from all income brackets to invest in a globally diversified portfolio of ethically responsible stocks and Islamic bonds. As a long-term partner, Dubai Cultiv8 will offer growth and…

DUBAI, 18th September, 2019 (WAM) -- Dubai Cultiv8 Investments Limited, Dubai Cultiv8, a subsidiary of the Mohammed Bin Rashid Fund for SME (an integrated division of the Department of Economic Development), announced a multi-million dollar investment in Wahed Invest (Wahed) through its US$100 million Technology Fund.

The New York-headquartered Shariah-compliant digital investment advisor allows savers from all income brackets to invest in a globally diversified portfolio of ethically responsible stocks and Islamic bonds. As a long-term partner, Dubai Cultiv8 will offer growth and…

Posted by: hamza
0 comments
09 Sep

Islamic banks in the Arabian Gulf will see "mid-single-digit growth" this year and next due to government spending on strategic initiatives and healthy oil prices, S&P Global Ratings said.

Islamic banks in the Gulf lost ground in 2018 as compared to growth at conventional banks. However, the rating agency said sharia-compliant lenders have strong fundamentals with a stable market share of around 36 per cent of total bank assets in the GCC. They also enjoy stable profits, providing an average return on assets of 1.6 per cent.

“Overseas expansion is providing higher…

Islamic banks in the Arabian Gulf will see "mid-single-digit growth" this year and next due to government spending on strategic initiatives and healthy oil prices, S&P Global Ratings said.

Islamic banks in the Gulf lost ground in 2018 as compared to growth at conventional banks. However, the rating agency said sharia-compliant lenders have strong fundamentals with a stable market share of around 36 per cent of total bank assets in the GCC. They also enjoy stable profits, providing an average return on assets of 1.6 per cent.

“Overseas expansion is providing higher…

Posted by: hamza
0 comments
09 Sep

It was conversations with female friends and relatives that gave Kerim Ture the idea for his business. The marketing graduate realised that Muslim women in Turkey who chose to cover their hair and dress conservatively were underserved. “Women who wanted to be stylish and obey the rules of modesty didn’t have much of a choice,” he says. “There were stories that people were buying two short-sleeved T-shirts and making them into one long-sleeve top.” Together with four friends who clubbed together and provided a total of $500,000 start-up capital, in 2011 he founded Modanisa.com, an online…

It was conversations with female friends and relatives that gave Kerim Ture the idea for his business. The marketing graduate realised that Muslim women in Turkey who chose to cover their hair and dress conservatively were underserved. “Women who wanted to be stylish and obey the rules of modesty didn’t have much of a choice,” he says. “There were stories that people were buying two short-sleeved T-shirts and making them into one long-sleeve top.” Together with four friends who clubbed together and provided a total of $500,000 start-up capital, in 2011 he founded Modanisa.com, an online…

Posted by: hamza
0 comments
09 Sep

Iran ranks 143rd in the world economic freedom index says the latest report published by the Canadian Fraser Institute on Thursday, September 12.

The annual report measures the economic situation in 162 countries and territories across the world.

Two Asian economies, Hong Kong and Singapore, are once again the most economically free territories in the world.

Hong Kong has been at the top of the table of Fraser's list since 1970. However, the report says China's heavy hand ominously threatens Hong Kong's top ranking.

Immediately following the two far eastern…

Iran ranks 143rd in the world economic freedom index says the latest report published by the Canadian Fraser Institute on Thursday, September 12.

The annual report measures the economic situation in 162 countries and territories across the world.

Two Asian economies, Hong Kong and Singapore, are once again the most economically free territories in the world.

Hong Kong has been at the top of the table of Fraser's list since 1970. However, the report says China's heavy hand ominously threatens Hong Kong's top ranking.

Immediately following the two far eastern…

Posted by: hamza
0 comments
09 Sep

Malaysia is a small economy but has a big reputation in the world markets for its Islamic financing and Islamic Capital. In the shadow of the U.S.- China trade war Malaysian economy is going through ups and downs as most of the economies around the globe are.

Malaysia is all set to make its entry into the European and African markets with the trade deal in position with Turkey. Malaysia and Turkey are working on a deal for their bilateral trade to grow their trade revenue from 2.8 billion USD to 5 billion USD in the coming years. At the Trade Talk session with Republic of Turkey,…

Malaysia is a small economy but has a big reputation in the world markets for its Islamic financing and Islamic Capital. In the shadow of the U.S.- China trade war Malaysian economy is going through ups and downs as most of the economies around the globe are.

Malaysia is all set to make its entry into the European and African markets with the trade deal in position with Turkey. Malaysia and Turkey are working on a deal for their bilateral trade to grow their trade revenue from 2.8 billion USD to 5 billion USD in the coming years. At the Trade Talk session with Republic of Turkey,…

Posted by: hamza
0 comments
09 Sep

Turkmenistan is home to nearly 6 million people and a vibrant, fast growing economy.

Press Release

JEDDAH: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), is pleased to announce that the Republic of Turkmenistan has joined the membership of ICIEC to become its 47th member country.

Turkmenistan is home to…

Turkmenistan is home to nearly 6 million people and a vibrant, fast growing economy.

Press Release

JEDDAH: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), is pleased to announce that the Republic of Turkmenistan has joined the membership of ICIEC to become its 47th member country.

Turkmenistan is home to…

Posted by: hamza
0 comments
09 Sep

[KANDAHAR] Taleban loyalists are cheering the prospect of a deal with the US that after 18 years of gruelling conflict will see "defeated" American "invaders" finally go home.

While details of the deal have not been announced, it is widely expected the Pentagon will slash its troop presence in Afghanistan in return for various Taleban commitments.

AFP spoke to several Taleban fighters and supporters in and around Kandahar - the southern Afghan province that is the birthplace of the Islamist movement and a key stronghold.

'ISLAMIC VALUES'

Mohammad Manzoor…

[KANDAHAR] Taleban loyalists are cheering the prospect of a deal with the US that after 18 years of gruelling conflict will see "defeated" American "invaders" finally go home.

While details of the deal have not been announced, it is widely expected the Pentagon will slash its troop presence in Afghanistan in return for various Taleban commitments.

AFP spoke to several Taleban fighters and supporters in and around Kandahar - the southern Afghan province that is the birthplace of the Islamist movement and a key stronghold.

'ISLAMIC VALUES'

Mohammad Manzoor…

Posted by: hamza
0 comments
09 Sep

*This story has been updated throughout to include comments from Shahed Amanullah, Managing Director of Frost Capital, and Quintan Wiktorowicz, Chief Operating Officer of Frost Capital, and to confirm that Abrar Hussain, CEO of Frost Capital is the same person formerly of Elixir Capital.

Private equity firm Frost Capital has acquired Islamic economy and social innovation-focused company Affinis Labs in an $8 million deal.

The two companies said in a statement on Thursday the acquisition will enable Affinis Labs to “extend its offerings to disadvantaged communities…

*This story has been updated throughout to include comments from Shahed Amanullah, Managing Director of Frost Capital, and Quintan Wiktorowicz, Chief Operating Officer of Frost Capital, and to confirm that Abrar Hussain, CEO of Frost Capital is the same person formerly of Elixir Capital.

Private equity firm Frost Capital has acquired Islamic economy and social innovation-focused company Affinis Labs in an $8 million deal.

The two companies said in a statement on Thursday the acquisition will enable Affinis Labs to “extend its offerings to disadvantaged communities…

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08 Aug

Arie Untung, a former video jockey for the Indonesian offshoot of MTV, says he used to drink alcohol regularly and - back then - was a jeans-clad, spiky-haired rocker who was only a nominal Muslim.

But he says his religious fervor was rekindled by online preachers promoting more conservative interpretations of Islam, which are gaining ground in the world’s most populous Muslim country and bringing profound changes in its economy.

Untung has now reinvented his career by linking up with other celebrities to run sharia (Islamic law)-friendly entertainment business in Southeast…

Arie Untung, a former video jockey for the Indonesian offshoot of MTV, says he used to drink alcohol regularly and - back then - was a jeans-clad, spiky-haired rocker who was only a nominal Muslim.

But he says his religious fervor was rekindled by online preachers promoting more conservative interpretations of Islam, which are gaining ground in the world’s most populous Muslim country and bringing profound changes in its economy.

Untung has now reinvented his career by linking up with other celebrities to run sharia (Islamic law)-friendly entertainment business in Southeast…

0 comments
08 Aug

Top 10 Halal businesses you can start right now. This statement looks pretty bold especially considering the seemingly insurmountable challenges all kinds of businesses face these days even after spending millions of dollars on marketing etc.  The present article assumes that you have little to no money to start any of the below-mentioned business. However, please remember you need to have plenty of energy and insatiable desire to succeed in your halal business.   The path to success is not going to be an easy one.

Let us start exploring various business ideas related to the halal…

Top 10 Halal businesses you can start right now. This statement looks pretty bold especially considering the seemingly insurmountable challenges all kinds of businesses face these days even after spending millions of dollars on marketing etc.  The present article assumes that you have little to no money to start any of the below-mentioned business. However, please remember you need to have plenty of energy and insatiable desire to succeed in your halal business.   The path to success is not going to be an easy one.

Let us start exploring various business ideas related to the halal…

0 comments
07 Jul

African leaders today launched a continental free-trade zone.  The move expects to unite 1.3 billion people and create a 3.4 trillion dollar economic bloc in the continent. Lifting the bottom billion in Africa has always been a mantra for far too many economists and political leaders around the world. However, none of the previous attempts have been successful so far.  We have to question whether it is going to work this time? If yes, which will be the largest beneficiary countries, What is the overall impact of this proposed trading block to the world economy and the global…

African leaders today launched a continental free-trade zone.  The move expects to unite 1.3 billion people and create a 3.4 trillion dollar economic bloc in the continent. Lifting the bottom billion in Africa has always been a mantra for far too many economists and political leaders around the world. However, none of the previous attempts have been successful so far.  We have to question whether it is going to work this time? If yes, which will be the largest beneficiary countries, What is the overall impact of this proposed trading block to the world economy and the global…

0 comments
07 Jul

DAVAO CITY -- The National Commission on Muslim Filipinos is pushing for the approval of Enrolled Bill 8281 by President Mr. Rodrigo R. Duterte, for regulating and organizing the Islamic banking system in the country.

Dimapuno Datu Ramos Jr., director of the NCMF's Bureau of External Relations, said NCMF Secretary Saidamen Pangarungan had recently met with officials of the Bangko Sentral and the Asian Development Bank to push for the bill's approval. Last month, the Senate passed the bill, which originated from the House of Representatives, with 20 affirmative…

DAVAO CITY -- The National Commission on Muslim Filipinos is pushing for the approval of Enrolled Bill 8281 by President Mr. Rodrigo R. Duterte, for regulating and organizing the Islamic banking system in the country.

Dimapuno Datu Ramos Jr., director of the NCMF's Bureau of External Relations, said NCMF Secretary Saidamen Pangarungan had recently met with officials of the Bangko Sentral and the Asian Development Bank to push for the bill's approval. Last month, the Senate passed the bill, which originated from the House of Representatives, with 20 affirmative…

0 comments
07 Jul

The Department of Trade and Industry (DTI) of the Philippines recently launched the official Philippine Halal logo, which will be used to identify all Halal products made in the country. The new national halal logo aims to boost the country`s halal exports to majority Muslim countries and around the world.

“We would like to see a significant increase in the  export of Halal products in the future. With this logo, our products can be identified easily by consumers as Halal-certified products,” Trade Secretary Ramon M. Lopez was quoted as saying in a statement Thursday at the…

The Department of Trade and Industry (DTI) of the Philippines recently launched the official Philippine Halal logo, which will be used to identify all Halal products made in the country. The new national halal logo aims to boost the country`s halal exports to majority Muslim countries and around the world.

“We would like to see a significant increase in the  export of Halal products in the future. With this logo, our products can be identified easily by consumers as Halal-certified products,” Trade Secretary Ramon M. Lopez was quoted as saying in a statement Thursday at the…

0 comments
06 Jun

KUALA LUMPUR, June 13 (Reuters) – Japanese restaurant operator Zensho Holdings Co Ltd agreed to buy Malaysian halal chain The Chicken Rice Shop (TCRS) for around 220 million ringgit ($52.86 million), a person with knowledge of the deal told Reuters on Thursday.

Zensho announced the acquisition last week but did not disclose the purchase price.

The deal increases the Japanese firm’s presence in Southeast Asia, adding to current operations in Malaysia as well as Indonesia, Thailand and Vietnam, said the person, who was not authorized to speak with media and…

KUALA LUMPUR, June 13 (Reuters) – Japanese restaurant operator Zensho Holdings Co Ltd agreed to buy Malaysian halal chain The Chicken Rice Shop (TCRS) for around 220 million ringgit ($52.86 million), a person with knowledge of the deal told Reuters on Thursday.

Zensho announced the acquisition last week but did not disclose the purchase price.

The deal increases the Japanese firm’s presence in Southeast Asia, adding to current operations in Malaysia as well as Indonesia, Thailand and Vietnam, said the person, who was not authorized to speak with media and…

0 comments
06 Jun

PUTRAJAYA: Japan government is keen to invest more in Malaysia, following its maiden investment here in Tasco-Yusen Gold Cold Sdn Bhd (TYGC), a unit of Tasco Bhd, which is listed on Bursa Malaysia.

Japan Overseas Infrastructure Investment Corp for Transport and Urban Development (JOIN) managing executive officer Noriyoshi Torigoe said: "This is our first investment in Malaysia upon the invitation of Yusen Logistics. It's a kickoff to many more, in view of the good relations between Japan and Malaysia."

JOIN, incorporated in Japan in 2014 to support Japanese corporations…

PUTRAJAYA: Japan government is keen to invest more in Malaysia, following its maiden investment here in Tasco-Yusen Gold Cold Sdn Bhd (TYGC), a unit of Tasco Bhd, which is listed on Bursa Malaysia.

Japan Overseas Infrastructure Investment Corp for Transport and Urban Development (JOIN) managing executive officer Noriyoshi Torigoe said: "This is our first investment in Malaysia upon the invitation of Yusen Logistics. It's a kickoff to many more, in view of the good relations between Japan and Malaysia."

JOIN, incorporated in Japan in 2014 to support Japanese corporations…

0 comments
05 May

SEOUL, May 22 — Malaysia will expand its halal services to 10 new countries through China’s US$1 trillion (RM4.2 trillion) investment — One Belt, One Road (Obor) initiative, says Halal Industry Development Corporation (HDC).

 

It's vice president Hanisofian Alias said the new countries include Kazakhstan, Uzbekistan, Egypt, Turkmenistan, Iran, Tajikistan, and Bosnia and Herzegovina.

“Along the Obor route, there are about 10 Muslim-majority countries and we have identified opportunities in these new markets.

“For example in Kazakhstan and…

SEOUL, May 22 — Malaysia will expand its halal services to 10 new countries through China’s US$1 trillion (RM4.2 trillion) investment — One Belt, One Road (Obor) initiative, says Halal Industry Development Corporation (HDC).

 

It's vice president Hanisofian Alias said the new countries include Kazakhstan, Uzbekistan, Egypt, Turkmenistan, Iran, Tajikistan, and Bosnia and Herzegovina.

“Along the Obor route, there are about 10 Muslim-majority countries and we have identified opportunities in these new markets.

“For example in Kazakhstan and…

0 comments
05 May

Saudi Arabia's central bank on Sunday fined 16 banks, including a UAE bank and some of Kingdom's largest banks, for violating its laws and asked all the lenders to correct the violations.

The Saudi Arabian Monetary Authority (Sama) said the banks were fined for violating the "individual responsible finance principles" to implement principles of justice and transparency and to ensure full compliance with the responsible finance that should meet with the actual needs of all the segments of the society.

The regulator said the decision will also ensure fairness…

Saudi Arabia's central bank on Sunday fined 16 banks, including a UAE bank and some of Kingdom's largest banks, for violating its laws and asked all the lenders to correct the violations.

The Saudi Arabian Monetary Authority (Sama) said the banks were fined for violating the "individual responsible finance principles" to implement principles of justice and transparency and to ensure full compliance with the responsible finance that should meet with the actual needs of all the segments of the society.

The regulator said the decision will also ensure fairness…

0 comments
05 May

Revenue-based financing is on the rise, at least according to Lighter Capital, a firm that doles out entrepreneur-friendly debt capital.

What exactly is RBF you ask? It’s a relatively new form of funding for tech companies that are posting monthly recurring revenue. Here’s how Lighter Capital, which completed 500 RBF deals in 2018, explains it: “It’s an alternative funding model that mixes some aspects of debt and equity. Most RBF is technically structured as a loan.…

Revenue-based financing is on the rise, at least according to Lighter Capital, a firm that doles out entrepreneur-friendly debt capital.

What exactly is RBF you ask? It’s a relatively new form of funding for tech companies that are posting monthly recurring revenue. Here’s how Lighter Capital, which completed 500 RBF deals in 2018, explains it: “It’s an alternative funding model that mixes some aspects of debt and equity. Most RBF is technically structured as a loan.…

0 comments
05 May

What an excellent article on top 5 ways to market to Muslim in this digital age and time. Marketing to Muslims has been a hot topic for the last several years now. I, being a marketer for the better part of my life, am interested in this topic. I talk to people, Muslims and not-yet-Muslims, about this issue to get a better understanding of how halal businesses could market their products and services to 1.8 billion Muslims all over the world.

Today, we found the following article on this very topic to share with you. Please read it if you are interested in marketing to Muslims…

What an excellent article on top 5 ways to market to Muslim in this digital age and time. Marketing to Muslims has been a hot topic for the last several years now. I, being a marketer for the better part of my life, am interested in this topic. I talk to people, Muslims and not-yet-Muslims, about this issue to get a better understanding of how halal businesses could market their products and services to 1.8 billion Muslims all over the world.

Today, we found the following article on this very topic to share with you. Please read it if you are interested in marketing to Muslims…

0 comments
05 May

POLAND has been actively promoting Malaysia as a premium destination for its entrepreneurs keen to expand their markets abroad.

Head of Polish Investment and Trade Agency (PITA) in Kuala Lumpur, Przemyslaw Zareba, said Malaysia is an ideal market for premium Polish products in this region due to several factors such as its robust economic growth, its population’s high disposable income, and its consumers’ enthusiastic reception towards new products.

“We are promoting Malaysia as a premium market, and actively encouraged our manufacturers in four industries to look to…

POLAND has been actively promoting Malaysia as a premium destination for its entrepreneurs keen to expand their markets abroad.

Head of Polish Investment and Trade Agency (PITA) in Kuala Lumpur, Przemyslaw Zareba, said Malaysia is an ideal market for premium Polish products in this region due to several factors such as its robust economic growth, its population’s high disposable income, and its consumers’ enthusiastic reception towards new products.

“We are promoting Malaysia as a premium market, and actively encouraged our manufacturers in four industries to look to…

0 comments
05 May

Oman is predicted to have the highest growth among the countries of the Gulf Cooperation Council next year, according to a new report from the World Bank.

The Sultanate’s growth rate is expected to spike to six percent in 2020, thanks to returns from the Tanfeedh program for economic diversification, as well as continued investments to expand its oil and gas sector, with the Khazzan gas fields being targeted for significant expansion.

The figures were mentioned in the World Bank’s Gulf Economic Monitor as well as its Oman: Economic Update for April 2019.…

Oman is predicted to have the highest growth among the countries of the Gulf Cooperation Council next year, according to a new report from the World Bank.

The Sultanate’s growth rate is expected to spike to six percent in 2020, thanks to returns from the Tanfeedh program for economic diversification, as well as continued investments to expand its oil and gas sector, with the Khazzan gas fields being targeted for significant expansion.

The figures were mentioned in the World Bank’s Gulf Economic Monitor as well as its Oman: Economic Update for April 2019.…

0 comments
05 May

The Central Bank of the UAE has developed a Persona Non Grata (UAEPNG) System in order to restrict persons with questionable professional integrity from joining the financial sector.

The system is aimed at protecting the country’s banking and financial system as people terminated for committing fraud or labeled with questionable professional integrity will not be able to join financial firms in the UAE.

“The Persona Non-Grata [UAEPNG] system was developed to protect the banking sector from the appointment of persons whose services have been terminated for…

The Central Bank of the UAE has developed a Persona Non Grata (UAEPNG) System in order to restrict persons with questionable professional integrity from joining the financial sector.

The system is aimed at protecting the country’s banking and financial system as people terminated for committing fraud or labeled with questionable professional integrity will not be able to join financial firms in the UAE.

“The Persona Non-Grata [UAEPNG] system was developed to protect the banking sector from the appointment of persons whose services have been terminated for…

0 comments
05 May

ISLAMABAD: Pakistan Poverty Alleviation Fund (PPAF) has won the prestigious CIS Islamic Banking and Finance award for being the best contributor to the Islamic Finance Industry in a ceremony held recently in Tashkent, Uzbekistan.

According to the announcement made here on Thursday, the PPAF was selected for implementing the Interest-Free Loan Programme across Pakistan. The CIS Islamic Banking and Finance Awards is a signature initiative of Al-Huda CIBE aimed to recognize the industry leaders and to promote the concept of a sustainable economy.

The awards…

ISLAMABAD: Pakistan Poverty Alleviation Fund (PPAF) has won the prestigious CIS Islamic Banking and Finance award for being the best contributor to the Islamic Finance Industry in a ceremony held recently in Tashkent, Uzbekistan.

According to the announcement made here on Thursday, the PPAF was selected for implementing the Interest-Free Loan Programme across Pakistan. The CIS Islamic Banking and Finance Awards is a signature initiative of Al-Huda CIBE aimed to recognize the industry leaders and to promote the concept of a sustainable economy.

The awards…

0 comments
05 May

President Joko "Jokowi" Widodo launched on Tuesday the country's first master plan for a sharia economy for implementation from 2019 to 2024.

The master plan sets out four main strategies aimed at transforming the country into a net producer instead of simply a market for halal goods and services.

The strategies are to empower Indonesia's halal value chain by focusing on the country's most competitive sectors, such as food and beverages and fashion, and strengthen the presence of the sharia financial sector as a capital provider to halal businesses.

The strategies…

President Joko "Jokowi" Widodo launched on Tuesday the country's first master plan for a sharia economy for implementation from 2019 to 2024.

The master plan sets out four main strategies aimed at transforming the country into a net producer instead of simply a market for halal goods and services.

The strategies are to empower Indonesia's halal value chain by focusing on the country's most competitive sectors, such as food and beverages and fashion, and strengthen the presence of the sharia financial sector as a capital provider to halal businesses.

The strategies…

0 comments
05 May

Thanks to its continued efforts starting from 1974, Malaysia has become a dominant player in the global Islamic economy sectors of halal food, Islamic banking, modest fashion, halal cosmetics, and Muslim-friendly tourism. The progress it has made, especially, in the last two decades is impressive. It has successfully established a comprehensive ecosystem to promote the halal, Islamic finance and other Islamic economy sectors globally. This healthy ecosystem supported by well-designed halal certification systems, standards and regulations, incentives, highly-skilled human…

Thanks to its continued efforts starting from 1974, Malaysia has become a dominant player in the global Islamic economy sectors of halal food, Islamic banking, modest fashion, halal cosmetics, and Muslim-friendly tourism. The progress it has made, especially, in the last two decades is impressive. It has successfully established a comprehensive ecosystem to promote the halal, Islamic finance and other Islamic economy sectors globally. This healthy ecosystem supported by well-designed halal certification systems, standards and regulations, incentives, highly-skilled human…

0 comments
05 May

CollabDeen is a Deep-Tech, AI-Powered, community management platform that helps faith-based communities, brands, business and influencers to grow their social community and build their audience. Admins get a beautiful, real-time view of their community analytics that helps them participate in the continual development of their community. Businesses can now have the ability to build their niche audience in this fastest growing Global Islamic Economy, estimated to reach USD$3.8 trillion by 2022.

CollabDeen is the world’s first to amalgamate faith & lifestyle on one platform, for…

CollabDeen is a Deep-Tech, AI-Powered, community management platform that helps faith-based communities, brands, business and influencers to grow their social community and build their audience. Admins get a beautiful, real-time view of their community analytics that helps them participate in the continual development of their community. Businesses can now have the ability to build their niche audience in this fastest growing Global Islamic Economy, estimated to reach USD$3.8 trillion by 2022.

CollabDeen is the world’s first to amalgamate faith & lifestyle on one platform, for…

0 comments
05 May

Halal food market is growing at You can’t afford to ignore the halal market any longer, concludes panel at SIAL Canada

There are approximately 1.4 million Muslims in Canada today and by 2021, it’s projected by Statistics Canada that they will outnumber ethnic Chinese in this country, Salima Jivraj, multicultural lead at Nourish Food Marketing and founder of the Halal Food Festival told attendees at a session at SIAL Canada last week. “Add in the annual growth rate of 10% to 15% in the halal market and you can see why you can’t afford to ignore these numbers anymore.”…

Halal food market is growing at You can’t afford to ignore the halal market any longer, concludes panel at SIAL Canada

There are approximately 1.4 million Muslims in Canada today and by 2021, it’s projected by Statistics Canada that they will outnumber ethnic Chinese in this country, Salima Jivraj, multicultural lead at Nourish Food Marketing and founder of the Halal Food Festival told attendees at a session at SIAL Canada last week. “Add in the annual growth rate of 10% to 15% in the halal market and you can see why you can’t afford to ignore these numbers anymore.”…

0 comments
05 May

Singaporean start-up WhatsHalal aims to benefit both F&B manufacturers and consumers in terms of market entry and food safety using its blockchain-powered platform.

Described as the ‘merging of the halal and technology industries’? one of the platform’s main value propositions for halal businesses is by helping to them accesses the booming marketplace more quickly.

WhatsHalal’s halal traceability platform claims to connect the entire supply chain, whereas its halal certification platform connects halal food firms all the way to consultants, auditors and…

Singaporean start-up WhatsHalal aims to benefit both F&B manufacturers and consumers in terms of market entry and food safety using its blockchain-powered platform.

Described as the ‘merging of the halal and technology industries’? one of the platform’s main value propositions for halal businesses is by helping to them accesses the booming marketplace more quickly.

WhatsHalal’s halal traceability platform claims to connect the entire supply chain, whereas its halal certification platform connects halal food firms all the way to consultants, auditors and…

0 comments
05 May

With plenty of food and shopping options available, including the first Pokémon Centre outside of Japan and a new Shaw Theatre with 4K laser IMAX technology, it’s no wonder that Jewel Changi Airport continues to bask in the limelight.

In the less hectic basement of Changi Airport’s Terminal 3, however, attention comes in a smaller, yet still notable form – a multi-concept food hall, Terminal M, that’s making one, small change –…

With plenty of food and shopping options available, including the first Pokémon Centre outside of Japan and a new Shaw Theatre with 4K laser IMAX technology, it’s no wonder that Jewel Changi Airport continues to bask in the limelight.

In the less hectic basement of Changi Airport’s Terminal 3, however, attention comes in a smaller, yet still notable form – a multi-concept food hall, Terminal M, that’s making one, small change –…

0 comments
05 May

KUALA LUMPUR, May 2 — Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof said Malaysia will soon spearhead a move to unify halal certification worldwide.

Mohd Redzuan said the halal industry has always been one of the main agendas that his ministry has focused on and the aim to achieve a single halal certification was made after several countries agreed with Malaysia that the unification was needed.

“We obtained feedback from several countries.. and they agreed with Malaysia for the unification of the halal certification for the world.

KUALA LUMPUR, May 2 — Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof said Malaysia will soon spearhead a move to unify halal certification worldwide.

Mohd Redzuan said the halal industry has always been one of the main agendas that his ministry has focused on and the aim to achieve a single halal certification was made after several countries agreed with Malaysia that the unification was needed.

“We obtained feedback from several countries.. and they agreed with Malaysia for the unification of the halal certification for the world.

0 comments
05 May

SINGAPORE – Bernama (April 30): Singapore will have a dedicated halal hub in two years’ time, which is promoted as the most advanced of its kind in Southeast Asia.

To be located in the western region of the republic, the hub will house halal food processing units, central kitchens, cold-rooms, a Halal Excellence Centre and logistics operations in a multi-storey state-of-the-art complex.

Singapore’s Elite Partners Capital said this in a statement today in conjunction with the signing of a strategic partnership with the Singapore Malay Chamber of Commerce and…

SINGAPORE – Bernama (April 30): Singapore will have a dedicated halal hub in two years’ time, which is promoted as the most advanced of its kind in Southeast Asia.

To be located in the western region of the republic, the hub will house halal food processing units, central kitchens, cold-rooms, a Halal Excellence Centre and logistics operations in a multi-storey state-of-the-art complex.

Singapore’s Elite Partners Capital said this in a statement today in conjunction with the signing of a strategic partnership with the Singapore Malay Chamber of Commerce and…

0 comments
05 May

Abu Dhabi: Growth in the UAE is forecast at 2.6 percent in 2019, jumping to 3 percent in 2020 as the country pushes infrastructure investments ahead of Dubai’s Expo 2020, according to the new report issued by the World Bank on Wednesday in Abu Dhabi.

The report also said economic growth in Gulf Cooperation Council (GCC) is expected to increase from 2 percent last year to 2.1 percent in 2019, before accelerating to 3.2 percent in 2020 and stabilizing at 2.7 percent in 2021.

In the UAE, growth is forecast to reach 3.2 percent by 2021 supported by the government’s economic…

Abu Dhabi: Growth in the UAE is forecast at 2.6 percent in 2019, jumping to 3 percent in 2020 as the country pushes infrastructure investments ahead of Dubai’s Expo 2020, according to the new report issued by the World Bank on Wednesday in Abu Dhabi.

The report also said economic growth in Gulf Cooperation Council (GCC) is expected to increase from 2 percent last year to 2.1 percent in 2019, before accelerating to 3.2 percent in 2020 and stabilizing at 2.7 percent in 2021.

In the UAE, growth is forecast to reach 3.2 percent by 2021 supported by the government’s economic…

0 comments
04 Apr

Latest data has shown that if Silicon Valley was its own state, it would be the second richest country in the world in terms of per-person GDP, trailing just after oil-producing Qatar.

However, there is one aspect of development where the U.S. home to many of the world’s largest high-tech corporations is lagging behind the Arab world – the number of start-ups founded or led by women.

Latest data has shown that if Silicon Valley was its own state, it would be the second richest country in the world in terms of per-person GDP, trailing just after oil-producing Qatar.

However, there is one aspect of development where the U.S. home to many of the world’s largest high-tech corporations is lagging behind the Arab world – the number of start-ups founded or led by women.

0 comments
04 Apr

The government plans to launch the 2019-2024 Sharia Economy Masterplan on May 14, as a road map for the development of the sharia economy to support national economic development in the country that has the largest Muslim population on the planet.

The masterplan draft highlights four main strategic recommendations to develop the sharia economy in the country – strengthening halal products, sharia finance, and micro, small and medium enterprises (MSMEs), as well as optimizing the digital economy.

The draft stresses the importance of optimizing the use of the digital economy…

The government plans to launch the 2019-2024 Sharia Economy Masterplan on May 14, as a road map for the development of the sharia economy to support national economic development in the country that has the largest Muslim population on the planet.

The masterplan draft highlights four main strategic recommendations to develop the sharia economy in the country – strengthening halal products, sharia finance, and micro, small and medium enterprises (MSMEs), as well as optimizing the digital economy.

The draft stresses the importance of optimizing the use of the digital economy…

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04 Apr

DUBAI,  -- Dubai Airport Freezone Authority, DAFZA, has signed a Memorandum of understanding, MoU, with the Malaysian Penang International Halal Hub, PIHH, to establish a framework of cooperation between the two sides.

The agreement will provide the Halal Trade and Marketing Centre, HTMC, with a range of world-class services, supporting companies and businessmen locally, regionally and globally.

The MoU was signed during an official ceremony held at DAFZA head office in Dubai and attended by Nasser Al Madani, Assistant Director General at DAFZA, and Dato’ Haji Abdul Halim…

DUBAI,  -- Dubai Airport Freezone Authority, DAFZA, has signed a Memorandum of understanding, MoU, with the Malaysian Penang International Halal Hub, PIHH, to establish a framework of cooperation between the two sides.

The agreement will provide the Halal Trade and Marketing Centre, HTMC, with a range of world-class services, supporting companies and businessmen locally, regionally and globally.

The MoU was signed during an official ceremony held at DAFZA head office in Dubai and attended by Nasser Al Madani, Assistant Director General at DAFZA, and Dato’ Haji Abdul Halim…

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04 Apr

KUALA LUMPUR: MBSB Bank Bhd stands out as the Islamic bank with the highest investment spend in a year as it heads on with the efforts to become one of the premier banks in Malaysia.

President and chief executive officer Datuk Ahmad Zaini Othman said the bank had spent nearly a billion ringgit on a banking license, consultation fees, technology platform and talents to have the ability to compete with other banks.

“We aim to be a premier Islamic bank using technology as one of the enablers. That is why we are not worried that we only have 46 branches. Perhaps, we are scaling…

KUALA LUMPUR: MBSB Bank Bhd stands out as the Islamic bank with the highest investment spend in a year as it heads on with the efforts to become one of the premier banks in Malaysia.

President and chief executive officer Datuk Ahmad Zaini Othman said the bank had spent nearly a billion ringgit on a banking license, consultation fees, technology platform and talents to have the ability to compete with other banks.

“We aim to be a premier Islamic bank using technology as one of the enablers. That is why we are not worried that we only have 46 branches. Perhaps, we are scaling…

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04 Apr

KUALA LUMPUR: Malaysian Minister of Entrepreneur Development (MED) Datuk Seri Mohd Redzuan Yusof reiterated Malaysia’s readiness to establish business networks and linkages with Bosnia and Herzegovina during his official visit there on April 19-21.

In a statement, he said these linkages would be in future infrastructure projects, renewable energy (hydro power) and tourism, as well as intensifying collaboration in the halal industry.

During his official visit, he had a walkabout with Bosnia and Herzegovina Foreign Trade Chamber president Nemanja Vasić to the…

KUALA LUMPUR: Malaysian Minister of Entrepreneur Development (MED) Datuk Seri Mohd Redzuan Yusof reiterated Malaysia’s readiness to establish business networks and linkages with Bosnia and Herzegovina during his official visit there on April 19-21.

In a statement, he said these linkages would be in future infrastructure projects, renewable energy (hydro power) and tourism, as well as intensifying collaboration in the halal industry.

During his official visit, he had a walkabout with Bosnia and Herzegovina Foreign Trade Chamber president Nemanja Vasić to the…

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04 Apr

Partnering with HalalNode, Halal Lifestyle Indonesia aims to promote sustainable Halal lifestyle in food, apparel, and fashion. As a part of HalalNode’s community, Halal Lifestyle Indonesia shared at a panel session organized by HalalNode during MIHAS 2019. Halal Lifestyle Indonesia provided some interesting insights about why Halal is not about religion, but a lifestyle and how this market will grow.

The Halal lifestyle and market size

When people think of halal, most would associate it with food. After all, this is the most visible aspect of halal we all interact with.…

Partnering with HalalNode, Halal Lifestyle Indonesia aims to promote sustainable Halal lifestyle in food, apparel, and fashion. As a part of HalalNode’s community, Halal Lifestyle Indonesia shared at a panel session organized by HalalNode during MIHAS 2019. Halal Lifestyle Indonesia provided some interesting insights about why Halal is not about religion, but a lifestyle and how this market will grow.

The Halal lifestyle and market size

When people think of halal, most would associate it with food. After all, this is the most visible aspect of halal we all interact with.…

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04 Apr

KUALA LUMPUR, April 18 (Bernama) -- The new Malaysian government has given a new impetus to Argentina-Malaysia bilateral ties, said Argentinian Ambassador to Malaysia, Manuel Balaguer Salas.

He said Argentina is delighted with the latest development especially under the leadership of Tun Dr. Mahathir Mohamad, which saw more initiatives developed after he came to power last year.

"Our relations have always been very significant. Annual bilateral trade figures are around US$1.2 billion and there are also many investments of companies in both ways.

"But I…

KUALA LUMPUR, April 18 (Bernama) -- The new Malaysian government has given a new impetus to Argentina-Malaysia bilateral ties, said Argentinian Ambassador to Malaysia, Manuel Balaguer Salas.

He said Argentina is delighted with the latest development especially under the leadership of Tun Dr. Mahathir Mohamad, which saw more initiatives developed after he came to power last year.

"Our relations have always been very significant. Annual bilateral trade figures are around US$1.2 billion and there are also many investments of companies in both ways.

"But I…

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04 Apr

According to the global population data released by the UN, we will have to increase food production by close to 70& if we want to feed the whole world (Not just the Muslim world). This becomes a real nightmare when we see that the Muslim world produces only 15% of what it already consumes.

It means we are facing two unprecedented challenges never seen by any other human race just as our own. They are as follows.

  • How do you feed the millions which are adding up to the total world population with every passing day?
  • How do you control the Halal integrity of…

According to the global population data released by the UN, we will have to increase food production by close to 70& if we want to feed the whole world (Not just the Muslim world). This becomes a real nightmare when we see that the Muslim world produces only 15% of what it already consumes.

It means we are facing two unprecedented challenges never seen by any other human race just as our own. They are as follows.

  • How do you feed the millions which are adding up to the total world population with every passing day?
  • How do you control the Halal integrity of…
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04 Apr

According to the Indonesian Law no. 33/2014, Cosmetics or Food Supplement manufacturers in Indonesia are required to obtain a halal certificate before their distribution in the country. The halal product regulations were supposed to come into effect from October 2019.  But in recent turn out of events, according to the new plan of Halal Product Assurance Agency (BPJPH), manufacturers will be given a deadline up to 2024 to obtain the halal certification. The reason behind this is that there are fears surrounding a decrease in the supply of lifesaving vaccines and other necessary products.…

According to the Indonesian Law no. 33/2014, Cosmetics or Food Supplement manufacturers in Indonesia are required to obtain a halal certificate before their distribution in the country. The halal product regulations were supposed to come into effect from October 2019.  But in recent turn out of events, according to the new plan of Halal Product Assurance Agency (BPJPH), manufacturers will be given a deadline up to 2024 to obtain the halal certification. The reason behind this is that there are fears surrounding a decrease in the supply of lifesaving vaccines and other necessary products.…

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04 Apr

 There has been a lot of talk about corrupt practices in the Halal industry. Some halal certification bodies try to manipulate the halal certifications. Even some manufacturers in various countries try to cheat their consumers to make money by actually providing non-halal food items.

We have written extensively on the topic and we advocate for the transparency of the halal certification system so that malpractices in the halal certification can be significantly reduced if not eliminated entirely.

WMCO World Muslim…

 There has been a lot of talk about corrupt practices in the Halal industry. Some halal certification bodies try to manipulate the halal certifications. Even some manufacturers in various countries try to cheat their consumers to make money by actually providing non-halal food items.

We have written extensively on the topic and we advocate for the transparency of the halal certification system so that malpractices in the halal certification can be significantly reduced if not eliminated entirely.

WMCO World Muslim…

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04 Apr

LAHORE: The UK-Pakistan Chamber of Commerce and Industry (UKPCCI) has announced investing £200 million in Pakistan and helping steer the country out of the financial crisis.

During a visit to Lahore Press Club here on Sunday, 15-member delegation, led by UKPCCI President Amjad Khan and Secretary Mian Waheedur Rehman, said the purpose of visiting Pakistan was to help address its economic challenges.

The delegation told the media persons various apprehensions amongst overseas investors with reference to Pakistan were related to the safety of their investment and protection of…

LAHORE: The UK-Pakistan Chamber of Commerce and Industry (UKPCCI) has announced investing £200 million in Pakistan and helping steer the country out of the financial crisis.

During a visit to Lahore Press Club here on Sunday, 15-member delegation, led by UKPCCI President Amjad Khan and Secretary Mian Waheedur Rehman, said the purpose of visiting Pakistan was to help address its economic challenges.

The delegation told the media persons various apprehensions amongst overseas investors with reference to Pakistan were related to the safety of their investment and protection of…

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04 Apr

The election campaign for Indonesia's next president has been dominated by the role of political Islam and the economic conditions prevailing in the country.  Experts say the young voters, who comprise a big chunk of the electorate, are in support of conservative Islam and better economy.

More Muslims live in Indonesia than anywhere else in the world, and on April 17, the country is electing its next president. Since Indonesia embraced democracy in 1998, it has provided a strong example of the separation of religion and state.

However, today the political…

The election campaign for Indonesia's next president has been dominated by the role of political Islam and the economic conditions prevailing in the country.  Experts say the young voters, who comprise a big chunk of the electorate, are in support of conservative Islam and better economy.

More Muslims live in Indonesia than anywhere else in the world, and on April 17, the country is electing its next president. Since Indonesia embraced democracy in 1998, it has provided a strong example of the separation of religion and state.

However, today the political…

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04 Apr

President Joko "Jokowi" Widodo inaugurated on Tuesday Muslim tourist and shopping destination Halal Park at the complex of Bung Karno Sports Stadium in Senayan, Central Jakarta.

A bigger version of the park called the Halal Lifestyle District will begin construction in the next year or two.

"The demand of global halal products is projected to reach US$3.7 trillion in 2019 from around $2 trillion in 2013 [...] and according to the Global Islamic Economic Report, the market value for Muslim fashion is estimated to reach $327 billion by 2020," Jokowi said during the…

President Joko "Jokowi" Widodo inaugurated on Tuesday Muslim tourist and shopping destination Halal Park at the complex of Bung Karno Sports Stadium in Senayan, Central Jakarta.

A bigger version of the park called the Halal Lifestyle District will begin construction in the next year or two.

"The demand of global halal products is projected to reach US$3.7 trillion in 2019 from around $2 trillion in 2013 [...] and according to the Global Islamic Economic Report, the market value for Muslim fashion is estimated to reach $327 billion by 2020," Jokowi said during the…

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04 Apr

KUALA LUMPUR: The halal exhibition organized by the Malaysia External Trade Development Corporation (Matrade) has grown by leaps and bounds since its inception in 2004.

Matrade CEO Datuk Wan Latiff Wan Musa said Malaysia International Halal Showcase (Mihas) was first held in a tent near the Matrade building in 2004.

“It initially focused on the food and beverage industry but today it has expanded to include areas such as Islamic financial services, agriculture products, pharmaceutical and cosmetics, fashion, halal tourism, and other products.

“After…

KUALA LUMPUR: The halal exhibition organized by the Malaysia External Trade Development Corporation (Matrade) has grown by leaps and bounds since its inception in 2004.

Matrade CEO Datuk Wan Latiff Wan Musa said Malaysia International Halal Showcase (Mihas) was first held in a tent near the Matrade building in 2004.

“It initially focused on the food and beverage industry but today it has expanded to include areas such as Islamic financial services, agriculture products, pharmaceutical and cosmetics, fashion, halal tourism, and other products.

“After…

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04 Apr

The Board of Trustees of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) appointed Mr. Omar Mustafa Ansari as its new Secretary General in its meeting held on 7 April 2019 (the first day of AAOIFI 17th Annual Shari'ah Boards Conference in the Kingdom of Bahrain).

The Chairman of the Board, His Excellency Sheikh Ebrahim bin Khalifa Al Khalifa stated, “On behalf of AAOIFI and its Board of Trustees, we are very glad to announce that Mr. Omar Ansari has been selected and appointed as the new Secretary General of AAOIFI. During his last 4 years with…

The Board of Trustees of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) appointed Mr. Omar Mustafa Ansari as its new Secretary General in its meeting held on 7 April 2019 (the first day of AAOIFI 17th Annual Shari'ah Boards Conference in the Kingdom of Bahrain).

The Chairman of the Board, His Excellency Sheikh Ebrahim bin Khalifa Al Khalifa stated, “On behalf of AAOIFI and its Board of Trustees, we are very glad to announce that Mr. Omar Ansari has been selected and appointed as the new Secretary General of AAOIFI. During his last 4 years with…

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04 Apr

Dubai Islamic Bank PJSC, the United Arab Emirates’ biggest Islamic lender, is considering buying its smaller rival Noor Bank PJSC, people with knowledge of the talks said.

The bank has held preliminary discussions with Dubai-based Noor Bank’s shareholders, said the people, asking not to be identified because the information is private. Discussions are at an early stage and may not lead to a deal. The acquisition would create a lender with 275 billion dirhams ($75 billion) in assets.

The Middle East’s financial services industry is witnessing a wave of consolidation as banks…

Dubai Islamic Bank PJSC, the United Arab Emirates’ biggest Islamic lender, is considering buying its smaller rival Noor Bank PJSC, people with knowledge of the talks said.

The bank has held preliminary discussions with Dubai-based Noor Bank’s shareholders, said the people, asking not to be identified because the information is private. Discussions are at an early stage and may not lead to a deal. The acquisition would create a lender with 275 billion dirhams ($75 billion) in assets.

The Middle East’s financial services industry is witnessing a wave of consolidation as banks…

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04 Apr

MIHAS continues to be a force to be reckoned with in the trade of halal products and services globally.

MONDAY, 8 APRIL 2019, KUALA LUMPUR: Malaysia International Halal Showcase (MIHAS) 2019 concluded on 6 April 2019 at Malaysia International Trade and Exhibition Centre (MITEC) with over RM1.6 billion of export value recorded, an increase of 5.7 per cent, indicating the event’s prominence as Malaysia’s and the world’s top halal trade fair. The figure included both the exhibition and the International Sourcing Programme (INSP) sales.
Organized by Malaysia External…

MIHAS continues to be a force to be reckoned with in the trade of halal products and services globally.

MONDAY, 8 APRIL 2019, KUALA LUMPUR: Malaysia International Halal Showcase (MIHAS) 2019 concluded on 6 April 2019 at Malaysia International Trade and Exhibition Centre (MITEC) with over RM1.6 billion of export value recorded, an increase of 5.7 per cent, indicating the event’s prominence as Malaysia’s and the world’s top halal trade fair. The figure included both the exhibition and the International Sourcing Programme (INSP) sales.
Organized by Malaysia External…

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04 Apr

Let us face it. The Muslim world does not have a unified Halal standard which the world must follow no matter which country they are from.  The global Halal industry leaders have been talking about this all-important issue for quite some time now. However, there does not seem to be any solution to the ever-growing problem affecting most of the Muslims in the world and Islam as well.

The biggest problem we the Muslims are facing is that most of us seem to have our own version of the word Halal and we rarely agree on what should be a global Halal standard. This is creating confusion…

Let us face it. The Muslim world does not have a unified Halal standard which the world must follow no matter which country they are from.  The global Halal industry leaders have been talking about this all-important issue for quite some time now. However, there does not seem to be any solution to the ever-growing problem affecting most of the Muslims in the world and Islam as well.

The biggest problem we the Muslims are facing is that most of us seem to have our own version of the word Halal and we rarely agree on what should be a global Halal standard. This is creating confusion…

0 comments
04 Apr

With the largest Muslim population in the world, Indonesia aims to be the Engine of the Global Halal Economy. The country has large production, export and import basis of halal products in key sectors such as food and beverage, fashion and lifestyle, pharmaceuticals, and cosmetics.

The report explains on strategies and roadmap of Indonesian Halal Economy with the vision to enable the country as an engine of Indonesia’s macroeconomic growth and leading influence across the Muslim world. Although the report mentions that Indonesia has substantial potential but has no clear Halal…

With the largest Muslim population in the world, Indonesia aims to be the Engine of the Global Halal Economy. The country has large production, export and import basis of halal products in key sectors such as food and beverage, fashion and lifestyle, pharmaceuticals, and cosmetics.

The report explains on strategies and roadmap of Indonesian Halal Economy with the vision to enable the country as an engine of Indonesia’s macroeconomic growth and leading influence across the Muslim world. Although the report mentions that Indonesia has substantial potential but has no clear Halal…

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04 Apr

Kuala Lumpur – The 11th World Halal Conference (WHC) 2019 commenced today, facilitating discussions on the ever-growing need for the industry to reflect on its existing strengths; and to build new capabilities to create new engines of growth within the industry. WHC 2019 will highlight the various growth opportunities in the halal market and the need to continuously reinvent; re-energise; and re-anchor the industry. 

The State of the Global Islamic Economy Report 2018/19 estimates that Muslims spent US$2.1 trillion across the food, beverage and lifestyle sectors in 2017, and…

Kuala Lumpur – The 11th World Halal Conference (WHC) 2019 commenced today, facilitating discussions on the ever-growing need for the industry to reflect on its existing strengths; and to build new capabilities to create new engines of growth within the industry. WHC 2019 will highlight the various growth opportunities in the halal market and the need to continuously reinvent; re-energise; and re-anchor the industry. 

The State of the Global Islamic Economy Report 2018/19 estimates that Muslims spent US$2.1 trillion across the food, beverage and lifestyle sectors in 2017, and…

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04 Apr

Kuala Lumpur : More banks should consider Waqf funding as a tool to collaborate with other stakeholders to improve affordable housing ownership.

INCEIF CEO Prof Dr. Azmi Omar said currently, Waqf was being used as a form of financing the property sector, but tend to…

Kuala Lumpur : More banks should consider Waqf funding as a tool to collaborate with other stakeholders to improve affordable housing ownership.

INCEIF CEO Prof Dr. Azmi Omar said currently, Waqf was being used as a form of financing the property sector, but tend to…

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04 Apr

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) expects up to RM600 million in potential sales to be generated from the International Sourcing Programme (INSP) this year from RM602.45 million recorded in 2018.

Deputy chief executive officer Mohd Mustafa Abdul Aziz said this year, the INSP would focus on local small and medium enterprises (SMEs) in the halal industry.
 

“The local companies at the INSP come from various Malaysian states such as Selangor, Johor, Penang and Perak, as well as Kuala Lumpur, while among the countries involved…

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) expects up to RM600 million in potential sales to be generated from the International Sourcing Programme (INSP) this year from RM602.45 million recorded in 2018.

Deputy chief executive officer Mohd Mustafa Abdul Aziz said this year, the INSP would focus on local small and medium enterprises (SMEs) in the halal industry.
 

“The local companies at the INSP come from various Malaysian states such as Selangor, Johor, Penang and Perak, as well as Kuala Lumpur, while among the countries involved…

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03 Mar

Turkey's voters head to the polls on Sunday amid new, widespread worries about their currency, and with much at stake for investors in the country.

Investor fears have roiled Turkey's lira over the past 48 hours, sending shockwaves through the country of 80 million just days before nationwide local elections. Markets still remember Turkey's currency crash…

Turkey's voters head to the polls on Sunday amid new, widespread worries about their currency, and with much at stake for investors in the country.

Investor fears have roiled Turkey's lira over the past 48 hours, sending shockwaves through the country of 80 million just days before nationwide local elections. Markets still remember Turkey's currency crash…

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03 Mar

Increasingly, young Muslim consumers are imposing exacting, socially and environmentally responsible standards on what they choose to buy

Let’s face it, social media has the power to ruin most things, and this week it brought bad news to Muslim chocolate lovers. In one short tweet, M&M’s UK replied to a query about its products with the doleful words: “Not suitable for a halal diet.”

The Muslim internet fell into shock. Even…

Increasingly, young Muslim consumers are imposing exacting, socially and environmentally responsible standards on what they choose to buy

Let’s face it, social media has the power to ruin most things, and this week it brought bad news to Muslim chocolate lovers. In one short tweet, M&M’s UK replied to a query about its products with the doleful words: “Not suitable for a halal diet.”

The Muslim internet fell into shock. Even…

0 comments
03 Mar

Etihad Credit Insurance (ECI) and First Abu Dhabi Bank (FAB) have partnered to help local businesses with their trade finance needs and support their international expansion.

Under a memorandum of understanding, the two have committed to jointly develop products and solutions for UAE-based exporters looking to mitigate commercial and political risks associated with their international trade activities, while also supporting their financing needs.

Areas of collaboration will include conventional and Islamic trade credit insurance, credit risk and supply risk solutions,…

Etihad Credit Insurance (ECI) and First Abu Dhabi Bank (FAB) have partnered to help local businesses with their trade finance needs and support their international expansion.

Under a memorandum of understanding, the two have committed to jointly develop products and solutions for UAE-based exporters looking to mitigate commercial and political risks associated with their international trade activities, while also supporting their financing needs.

Areas of collaboration will include conventional and Islamic trade credit insurance, credit risk and supply risk solutions,…

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03 Mar

PARIS: Malaysia is prepared to assist the French Council of the Muslim Faith (CFCM) in several matters for the benefit of Muslims in France, including the imams and other Muslim elders, said Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail.

She gave the commitment in response to her meeting with CFCM vice-president Anouar Kbibech on Wednesday, who had also requested Malaysia’s assistance to boost France’s halal-tourism industry, which is handled by the French Muslim community.

“Various matters were discussed (at the meeting with Anouar Kbibech) for our mutual…

PARIS: Malaysia is prepared to assist the French Council of the Muslim Faith (CFCM) in several matters for the benefit of Muslims in France, including the imams and other Muslim elders, said Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail.

She gave the commitment in response to her meeting with CFCM vice-president Anouar Kbibech on Wednesday, who had also requested Malaysia’s assistance to boost France’s halal-tourism industry, which is handled by the French Muslim community.

“Various matters were discussed (at the meeting with Anouar Kbibech) for our mutual…

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03 Mar

Whether in terms of trade, commerce, or cultural linkages, Gulf Co-operation Council (GCC) states have become increasingly diverse in their international ties over the past decade – with those linking the region to Asia emerging as one of the most critical corridors of economic activity. But how can GCC borrowers capitalise on emerging funding opportunities brought about by these deepening relationships?

The Ties that Bind

Trade and migration between the two regions has increased significantly over the past 20 years.

The GCC’s…

Whether in terms of trade, commerce, or cultural linkages, Gulf Co-operation Council (GCC) states have become increasingly diverse in their international ties over the past decade – with those linking the region to Asia emerging as one of the most critical corridors of economic activity. But how can GCC borrowers capitalise on emerging funding opportunities brought about by these deepening relationships?

The Ties that Bind

Trade and migration between the two regions has increased significantly over the past 20 years.

The GCC’s…

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03 Mar

The UK and Turkey have launched a joint initiative to try and scale Islamic finance through the fintech sector.

Offering recommendations, practical case studies and insights

At the moment it’s in the early stages as the idea is set out in a new report from the UK-Turkey Islamic Finance working group. This offers a series of recommendations, practical case studies and insights.

The working group is supported by TheCityUK, an industry-led body representing UK-based financial services, and the stock exchange Borsa Istanbul.

The plan is to bring more Muslims and…

The UK and Turkey have launched a joint initiative to try and scale Islamic finance through the fintech sector.

Offering recommendations, practical case studies and insights

At the moment it’s in the early stages as the idea is set out in a new report from the UK-Turkey Islamic Finance working group. This offers a series of recommendations, practical case studies and insights.

The working group is supported by TheCityUK, an industry-led body representing UK-based financial services, and the stock exchange Borsa Istanbul.

The plan is to bring more Muslims and…

0 comments
03 Mar

The world’s largest halal trade show – the 16th edition of Malaysia International Halal Showcase (MIHAS 2019), is officially launched today and is set to host exhibitors and visitors from over 70 countries. The dedicated halal trade fair organised by Malaysia External Trade Development Corporation (MATRADE) will showcase high-quality halal products and services from around the world in Kuala Lumpur and will take place from 3 to 6 April 2019 at the Malaysia International Trade and Exhibition Centre (MITEC).

Launched by MATRADE’s Chief Executive Officer, Dato’ Wan Latiff Wan Musa…

The world’s largest halal trade show – the 16th edition of Malaysia International Halal Showcase (MIHAS 2019), is officially launched today and is set to host exhibitors and visitors from over 70 countries. The dedicated halal trade fair organised by Malaysia External Trade Development Corporation (MATRADE) will showcase high-quality halal products and services from around the world in Kuala Lumpur and will take place from 3 to 6 April 2019 at the Malaysia International Trade and Exhibition Centre (MITEC).

Launched by MATRADE’s Chief Executive Officer, Dato’ Wan Latiff Wan Musa…

0 comments
03 Mar

AFTER the success of the 1st International Conference on Business, Economics and Finance (ICBEF) in 2017, Universiti Brunei Darussalam’s School of Business and Economics (UBD SBE) is set to host the 2nd ICBEF from July 31 to August 1, under the theme ‘New Technologies, Dynamic Business Environment and Growth for Future’.

The upcoming conference is designed to cover current and upcoming areas of Business, Economics, and Accounting and Finance that branch into 18 other conference streams, including financial technology (FinTech), digital transformation, information system,…

AFTER the success of the 1st International Conference on Business, Economics and Finance (ICBEF) in 2017, Universiti Brunei Darussalam’s School of Business and Economics (UBD SBE) is set to host the 2nd ICBEF from July 31 to August 1, under the theme ‘New Technologies, Dynamic Business Environment and Growth for Future’.

The upcoming conference is designed to cover current and upcoming areas of Business, Economics, and Accounting and Finance that branch into 18 other conference streams, including financial technology (FinTech), digital transformation, information system,…

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03 Mar

KUALA LUMPUR (March 14): South Korea is keen to tap into Malaysia’s success in the halal industry by strengthening collaboration in the sector, especially in Malaysia’s globally recognised halal certification.

Visiting President Moon Jae-in in his speech during the Malaysia-Korea Business Forum today said that the Korean wave, known as Hallyu, has opened doors for its local businesses, and with Malaysia's halal expertise, the two countries could forge a stronger strategic partnership. 

"Malaysia’s halal certification is recognised globally and with this partnership, it can…

KUALA LUMPUR (March 14): South Korea is keen to tap into Malaysia’s success in the halal industry by strengthening collaboration in the sector, especially in Malaysia’s globally recognised halal certification.

Visiting President Moon Jae-in in his speech during the Malaysia-Korea Business Forum today said that the Korean wave, known as Hallyu, has opened doors for its local businesses, and with Malaysia's halal expertise, the two countries could forge a stronger strategic partnership. 

"Malaysia’s halal certification is recognised globally and with this partnership, it can…

0 comments
03 Mar

KUALA LUMPUR: The Securities Commission Malaysia (SC) expects the Malaysian capital market to remain resilient and orderly this year despite seeing a decline in the size of the capital market to RM3.1 trillion as at end 2018 from RM3.2 trillion in 2017, with lower fundraising activities last year.

 

The capital market saw a moderate level of fundraising activities in 2018, with total funds raised decreasing 21.8% to RM114.6 billion from a record high of RM146.6 billion in 2017. Of this, RM105.4 billion was raised via the corporate bond and…

KUALA LUMPUR: The Securities Commission Malaysia (SC) expects the Malaysian capital market to remain resilient and orderly this year despite seeing a decline in the size of the capital market to RM3.1 trillion as at end 2018 from RM3.2 trillion in 2017, with lower fundraising activities last year.

 

The capital market saw a moderate level of fundraising activities in 2018, with total funds raised decreasing 21.8% to RM114.6 billion from a record high of RM146.6 billion in 2017. Of this, RM105.4 billion was raised via the corporate bond and…

0 comments
03 Mar

Tashkent The Uzbek capital Tashkent has recently hosted the third session of the United Arab Emirates-Uzbekistan Joint Economic Committee, Emirates news agency (WAM) reported Wednesday.

The committee meetings were co-chaired by UAE Minister of Economy Sultan bin Saeed Al Mansouri, and Uzbekistan’s Deputy Prime Minister Ganiev Elyor Majidovich, in the attendance of UAE Ambassador to Uzbekistan Mohammed Hareb Al Mehairbi.

The two sides agreed to enhance economic, trade, and technical cooperation based on a number of policies and programs, including a range of priority sectors…

Tashkent The Uzbek capital Tashkent has recently hosted the third session of the United Arab Emirates-Uzbekistan Joint Economic Committee, Emirates news agency (WAM) reported Wednesday.

The committee meetings were co-chaired by UAE Minister of Economy Sultan bin Saeed Al Mansouri, and Uzbekistan’s Deputy Prime Minister Ganiev Elyor Majidovich, in the attendance of UAE Ambassador to Uzbekistan Mohammed Hareb Al Mehairbi.

The two sides agreed to enhance economic, trade, and technical cooperation based on a number of policies and programs, including a range of priority sectors…

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03 Mar

DAVAO CITY (MindaNews / 6 March) – At least 13 small, micro, and medium enterprises in Mindanao will join the three-day 16th Malaysia International Halal Showcase (MIHAS) from April 3 to 6 in Kuala Lumpur, an official from the Mindanao Development Authority (MinDA) said.

Amhed Jeoffrey J. Datukan, development manager officer III at MinDA, said in an interview on Wednesday that they want to promote the growing halal industry players who are also beneficiaries of the Department of Agriculture and Department of Trade and Industry in Mindanao through the annual MIHAS.

There are…

DAVAO CITY (MindaNews / 6 March) – At least 13 small, micro, and medium enterprises in Mindanao will join the three-day 16th Malaysia International Halal Showcase (MIHAS) from April 3 to 6 in Kuala Lumpur, an official from the Mindanao Development Authority (MinDA) said.

Amhed Jeoffrey J. Datukan, development manager officer III at MinDA, said in an interview on Wednesday that they want to promote the growing halal industry players who are also beneficiaries of the Department of Agriculture and Department of Trade and Industry in Mindanao through the annual MIHAS.

There are…

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03 Mar

Qatar Chamber (QC) has announced that it will host the Halal Conference & Expo 2020, which aims to showcase Halal products and ways of certifying these products, as well as to promote the Halal trade worldwide.

This was revealed during the meetings of the Islamic Chamber of Commerce, Industry and Agriculture held in Cairo on Monday. The meetings included the 28th board of directors meeting and the 35th General Assembly Meeting of the Islamic Chamber.
During the meeting, Qatar Chamber proposed to host and organise the 2020 edition of the Halal Conference & Expo, which…

Qatar Chamber (QC) has announced that it will host the Halal Conference & Expo 2020, which aims to showcase Halal products and ways of certifying these products, as well as to promote the Halal trade worldwide.

This was revealed during the meetings of the Islamic Chamber of Commerce, Industry and Agriculture held in Cairo on Monday. The meetings included the 28th board of directors meeting and the 35th General Assembly Meeting of the Islamic Chamber.
During the meeting, Qatar Chamber proposed to host and organise the 2020 edition of the Halal Conference & Expo, which…

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03 Mar

rench President Emmanuel Macron has called for increased use of data technologies such as blockchain in the EU to boost the agriculture industry and address concerns over food traceability.

Inaugurating the 56th International Agricultural Fair in Paris at the weekend, Agridigitale.net reports, Macron spoke of the need to authenticate and track agricultural products amid growing consumer concerns over issues such such as the recent…

rench President Emmanuel Macron has called for increased use of data technologies such as blockchain in the EU to boost the agriculture industry and address concerns over food traceability.

Inaugurating the 56th International Agricultural Fair in Paris at the weekend, Agridigitale.net reports, Macron spoke of the need to authenticate and track agricultural products amid growing consumer concerns over issues such such as the recent…

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03 Mar

CEBU, Philippines - The Department of Science and Technology (DOST) opened the first Halal Laboratory in the Philippines to serve the local and international clients.

This development will place the Philippines in a better position to take advantage of the US$3 trillion dollars global Halal market.

The facility, which is established in Region 12 at the DOST Compound in Cotabato City provides advanced technology, and state-of-the-art equipment and facilities, said DOST-12 regional director Haja Sittie Shayma (Zenaida) P. HR Laidan in a statement.

“This is the only…

CEBU, Philippines - The Department of Science and Technology (DOST) opened the first Halal Laboratory in the Philippines to serve the local and international clients.

This development will place the Philippines in a better position to take advantage of the US$3 trillion dollars global Halal market.

The facility, which is established in Region 12 at the DOST Compound in Cotabato City provides advanced technology, and state-of-the-art equipment and facilities, said DOST-12 regional director Haja Sittie Shayma (Zenaida) P. HR Laidan in a statement.

“This is the only…

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03 Mar

TODAY, Malaysia sets to be one of the leading global halal hubs with an export outlook value close to RM50bil, which were initially set to be achieved by 2020 according to Halal Industry Development Corporation (HDC).

Multinational companies (MNCs) have long realized the huge potential of the Halal sector and the entire parallel economy that can be built through Halal businesses. Brands like Unilever and L’Oreal are converting their supply chains to cater the world’s biggest Muslim-majority Nations, like Malaysia and Indonesia.

Halal industry, would not have been…

TODAY, Malaysia sets to be one of the leading global halal hubs with an export outlook value close to RM50bil, which were initially set to be achieved by 2020 according to Halal Industry Development Corporation (HDC).

Multinational companies (MNCs) have long realized the huge potential of the Halal sector and the entire parallel economy that can be built through Halal businesses. Brands like Unilever and L’Oreal are converting their supply chains to cater the world’s biggest Muslim-majority Nations, like Malaysia and Indonesia.

Halal industry, would not have been…

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03 Mar

Toronto, Canada – (January 4, 2019): THE EXPO HUT is pleased to announce the media partnership with Malaysia International Halal Showcase (MIHAS), the world’s largest Halal trade show. With this partnership, both events will leverage from the marketing opportunities of each show had to offer and will allow the further market expansion of MIHAS into North America and vice versa.
Halal Expo Canada 2019 team will be traveling to Malaysia early April of this year to participate in MIHAS 2019 to promote the show among the world’s leaders of halal lifestyle through Halal Expo Canada…

Toronto, Canada – (January 4, 2019): THE EXPO HUT is pleased to announce the media partnership with Malaysia International Halal Showcase (MIHAS), the world’s largest Halal trade show. With this partnership, both events will leverage from the marketing opportunities of each show had to offer and will allow the further market expansion of MIHAS into North America and vice versa.
Halal Expo Canada 2019 team will be traveling to Malaysia early April of this year to participate in MIHAS 2019 to promote the show among the world’s leaders of halal lifestyle through Halal Expo Canada…

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03 Mar

MALAYSIA will take center stage again next month with the 16th edition of the Malaysia International Halal Showcase (Mihas).

The trade show was launched last week at the Glasshouse in Kuala Lumpur by Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Wan Latiff Wan Musa.

The soft launch was attended by representatives from the International Trade and Industry Ministry (Miti), Malaysian Islamic Development Department (Jakim) and Halal Industry Development Corporation (HDC) as well as Mihas 2019 sponsors, associations, industry players and…

MALAYSIA will take center stage again next month with the 16th edition of the Malaysia International Halal Showcase (Mihas).

The trade show was launched last week at the Glasshouse in Kuala Lumpur by Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Wan Latiff Wan Musa.

The soft launch was attended by representatives from the International Trade and Industry Ministry (Miti), Malaysian Islamic Development Department (Jakim) and Halal Industry Development Corporation (HDC) as well as Mihas 2019 sponsors, associations, industry players and…

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03 Mar

DUBAI, 4th March 2019 (WAM) -- The International Halal Accreditation Forum, IHAF, has announced its latest milestone, having increased its membership to 32 within 1,000 days of being operational.

The 32 member-countries represent a halal economy that is more than $700 billion and accounts for approximately 34 percent of the $2.1 trillion global halal economy.

Based on the data from the State of the Global Islamic Economy Report 2018-2019 in collaboration with Thomson Reuters, nine out of top 15 countries in the global Islamic economy are IHAF members, namely UAE, Bahrain,…

DUBAI, 4th March 2019 (WAM) -- The International Halal Accreditation Forum, IHAF, has announced its latest milestone, having increased its membership to 32 within 1,000 days of being operational.

The 32 member-countries represent a halal economy that is more than $700 billion and accounts for approximately 34 percent of the $2.1 trillion global halal economy.

Based on the data from the State of the Global Islamic Economy Report 2018-2019 in collaboration with Thomson Reuters, nine out of top 15 countries in the global Islamic economy are IHAF members, namely UAE, Bahrain,…

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03 Mar

JAKARTA (Mar 4): Indonesia and Australia on Monday signed an economic partnership agreement aimed at stepping up trade and investment between them in areas ranging from cattle to education and cars to wheat. 

Though neighbors, the two countries are not top trade partners and the deal has been welcomed by Australian farmers looking to ship more agricultural commodities into Southeast Asia’s biggest economy, as well as by Indonesian companies producing footwear and textiles.

In Jakarta, Indonesian Trade Minister Enggartiasto Lukita and Australian Trade Minister Simon…

JAKARTA (Mar 4): Indonesia and Australia on Monday signed an economic partnership agreement aimed at stepping up trade and investment between them in areas ranging from cattle to education and cars to wheat. 

Though neighbors, the two countries are not top trade partners and the deal has been welcomed by Australian farmers looking to ship more agricultural commodities into Southeast Asia’s biggest economy, as well as by Indonesian companies producing footwear and textiles.

In Jakarta, Indonesian Trade Minister Enggartiasto Lukita and Australian Trade Minister Simon…

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03 Mar

KUALA LUMPUR (March 1): The ongoing US-China trade war has not held back Chinese exhibitors from participating in the Malaysia International Halal Showcase (MIHAS) 2019, scheduled to be held from April 3-6.

On the contrary, Malaysia External Trade Development Corporation (MATRADE) chief executive officer Datuk Wan Latiff Wan Musa said, there would be 22 Chinese exhibitors joining the event, making China the third largest participating foreign country after Thailand (29 exhibitors) and South Korea (26 exhibitors).

"Chinese exhibitors have always been one of the largest…

KUALA LUMPUR (March 1): The ongoing US-China trade war has not held back Chinese exhibitors from participating in the Malaysia International Halal Showcase (MIHAS) 2019, scheduled to be held from April 3-6.

On the contrary, Malaysia External Trade Development Corporation (MATRADE) chief executive officer Datuk Wan Latiff Wan Musa said, there would be 22 Chinese exhibitors joining the event, making China the third largest participating foreign country after Thailand (29 exhibitors) and South Korea (26 exhibitors).

"Chinese exhibitors have always been one of the largest…

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03 Mar
  • President of the IsDB H.E. Dr. Bandar Hajjar, and the Minister of Economy and Finance for the Government of Morocco H.E. Mohamed Benchaaboun opened the Forum
  • H.E. Dr. Bandar Hajjar stated that IsDB’s ambition is for a new development model which enables both the public and private sectors to play a role in development as the global financing gap widens to $2.5 trillion
  • The IsDB reaffirms its commitment to Morocco as investment stands at US$6.7 billion to date

Rabat, Morocco, 28th February 2019 – Today, the Islamic Development Bank (…

  • President of the IsDB H.E. Dr. Bandar Hajjar, and the Minister of Economy and Finance for the Government of Morocco H.E. Mohamed Benchaaboun opened the Forum
  • H.E. Dr. Bandar Hajjar stated that IsDB’s ambition is for a new development model which enables both the public and private sectors to play a role in development as the global financing gap widens to $2.5 trillion
  • The IsDB reaffirms its commitment to Morocco as investment stands at US$6.7 billion to date

Rabat, Morocco, 28th February 2019 – Today, the Islamic Development Bank (…

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03 Mar

BANDAR SERI BEGAWAN: Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail has called on Malaysia and Brunei to take full advantage of existing bilateral and multilateral engagement initiatives to boost trade between the two economies.

Wan Azizah said Brunei was Malaysia’s seventh largest trading partner in the Asean region last year, with total trade between the two nations rising by 45.9 percent in the last three years.

She noted that total trade value reached US$981.2 million in 2018, from US$672.6 million in 2016.

“Bruneian businessmen are encouraged to…

BANDAR SERI BEGAWAN: Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail has called on Malaysia and Brunei to take full advantage of existing bilateral and multilateral engagement initiatives to boost trade between the two economies.

Wan Azizah said Brunei was Malaysia’s seventh largest trading partner in the Asean region last year, with total trade between the two nations rising by 45.9 percent in the last three years.

She noted that total trade value reached US$981.2 million in 2018, from US$672.6 million in 2016.

“Bruneian businessmen are encouraged to…

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02 Feb

By setting a target to support$3 billion worth of non-oil exports and re-exports, Etihad Credit Insurance (ECI) has set a visionary strategy and growth plan aligned with the country’s economic agenda based on the diversification objectives of the UAE Vision 2021, during the recently concluded ECI 2019 Kick-Off Meeting at the Jumeirah Emirates Towers Hotel, Dubai, UAE.

The event further highlighted ECI’s goal to support UAE-based companies with over $1.1 billion in exposure and revolving credit limits in 2019. With this, ECI remains committed to its role of assisting UAE…

By setting a target to support$3 billion worth of non-oil exports and re-exports, Etihad Credit Insurance (ECI) has set a visionary strategy and growth plan aligned with the country’s economic agenda based on the diversification objectives of the UAE Vision 2021, during the recently concluded ECI 2019 Kick-Off Meeting at the Jumeirah Emirates Towers Hotel, Dubai, UAE.

The event further highlighted ECI’s goal to support UAE-based companies with over $1.1 billion in exposure and revolving credit limits in 2019. With this, ECI remains committed to its role of assisting UAE…

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01 Jan
  • "For years we've said there is an inverse relationship between how change happens on the regulatory environment and the price of oil," Fadi Ghandour, executive chairman of Wanda Group, told CNBC on Thursday.
  • "The lower the price of oil, the faster the change process happens," Ghandour said.
  • Now that oil prices are dramatically down from their October highs, the veteran Middle East investor says the market moves "will definitely be a blessing in disguise."

In a part of the world better known for towering skyscrapers and oil than for its startup scene,…

  • "For years we've said there is an inverse relationship between how change happens on the regulatory environment and the price of oil," Fadi Ghandour, executive chairman of Wanda Group, told CNBC on Thursday.
  • "The lower the price of oil, the faster the change process happens," Ghandour said.
  • Now that oil prices are dramatically down from their October highs, the veteran Middle East investor says the market moves "will definitely be a blessing in disguise."

In a part of the world better known for towering skyscrapers and oil than for its startup scene,…

0 comments
01 Jan

Buoyed by “healthy” economic growth and “continued” fiscal support for infrastructure from the government, Qatar will remain an “outperformer”, both regionally and globally, Fitch Solutions has said in a report.  Qatar ranks very high in Fitch Solutions Infrastructure Risk/Reward Index, which according to the researcher, was due to “strong government support” for construction and packed project pipelines.


Positive growth outlook and sustained government fiscal support for infrastructure are keeping rewards scores elevated in markets in the MENA region, and among GCC…

Buoyed by “healthy” economic growth and “continued” fiscal support for infrastructure from the government, Qatar will remain an “outperformer”, both regionally and globally, Fitch Solutions has said in a report.  Qatar ranks very high in Fitch Solutions Infrastructure Risk/Reward Index, which according to the researcher, was due to “strong government support” for construction and packed project pipelines.


Positive growth outlook and sustained government fiscal support for infrastructure are keeping rewards scores elevated in markets in the MENA region, and among GCC…

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01 Jan

Note From The Halal Times.: The Muslim world is undergoing structural changes. Old rivalries are turning into new alliances and yesterday`s alliances are falling apart. It is such an important topic for the Muslim world we thought we needed to share this article with you.

Under the leadership of Turkish President Recep Tayyip ErdNote From The Halal Times.: The Muslim world is undergoing structural changes. Old rivalries are turning into new…

Note From The Halal Times.: The Muslim world is undergoing structural changes. Old rivalries are turning into new alliances and yesterday`s alliances are falling apart. It is such an important topic for the Muslim world we thought we needed to share this article with you.

Under the leadership of Turkish President Recep Tayyip ErdNote From The Halal Times.: The Muslim world is undergoing structural changes. Old rivalries are turning into new…

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01 Jan

The halal certification process is currently still being carried out by the Indonesian Ulema Council (MUI), according to Head of Halal Product Supervision Agency (BPJPH) of Ministry of Religious Affairs Prof. Ir. Sukoso, M.Sc., Ph.D.

Sukoso added that MUI will continue to carry out the responsibility until regulations and infrastructure of a halal information system are ready to operate. He added that the Government is currently drafting Government Regulation on Halal Product Guarantee (JPH).

“Once the Government Regulation is enacted and promulgated, the authority to…

The halal certification process is currently still being carried out by the Indonesian Ulema Council (MUI), according to Head of Halal Product Supervision Agency (BPJPH) of Ministry of Religious Affairs Prof. Ir. Sukoso, M.Sc., Ph.D.

Sukoso added that MUI will continue to carry out the responsibility until regulations and infrastructure of a halal information system are ready to operate. He added that the Government is currently drafting Government Regulation on Halal Product Guarantee (JPH).

“Once the Government Regulation is enacted and promulgated, the authority to…

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12 Dec

PETALING JAYA: Halal Industry Development Corp (HDC) is confident that Malaysia will be able to export as much as RM50 billion of home-grown halal products worldwide by 2020.

HDC vice president of industry development Hanisofian Alias said this was possible as more non-Muslims are embracing halal as part of a healthy and hygienic lifestyle.“

“Our halal export is currently at about RM43 billion and I am confident that we will be able to hit the RM50 billion mark by the end of 2020,” he said.

“Many non-Muslim countries have recognized the untapped potential in the…

PETALING JAYA: Halal Industry Development Corp (HDC) is confident that Malaysia will be able to export as much as RM50 billion of home-grown halal products worldwide by 2020.

HDC vice president of industry development Hanisofian Alias said this was possible as more non-Muslims are embracing halal as part of a healthy and hygienic lifestyle.“

“Our halal export is currently at about RM43 billion and I am confident that we will be able to hit the RM50 billion mark by the end of 2020,” he said.

“Many non-Muslim countries have recognized the untapped potential in the…

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12 Dec

London – 9 December 2018: Amin & Yasmin is launching the world’s first mobile app at the 2nd National Quran Memorization Competition; to help both the deaf and inclusive community learn Islam through an adventure of sign language.

The ‘iSAY’ App is a fun interactive learning experience for those who want to gain an understanding of British Sign Language (BSL) with an Islamic…

London – 9 December 2018: Amin & Yasmin is launching the world’s first mobile app at the 2nd National Quran Memorization Competition; to help both the deaf and inclusive community learn Islam through an adventure of sign language.

The ‘iSAY’ App is a fun interactive learning experience for those who want to gain an understanding of British Sign Language (BSL) with an Islamic…

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12 Dec

Saudi Arabia is reportedly reviewing its policy of imposing fees on expatriate workers following an exodus of foreign workers amid rising living costs, Bloomberg reported on Sunday.

The system will likely be modified rather than entirely repealed, sources familiar with the matter said, with a final decision on the matter expected within weeks.

In an emailed response to a query by Bloomberg, however, Saudi Arabia's…

Saudi Arabia is reportedly reviewing its policy of imposing fees on expatriate workers following an exodus of foreign workers amid rising living costs, Bloomberg reported on Sunday.

The system will likely be modified rather than entirely repealed, sources familiar with the matter said, with a final decision on the matter expected within weeks.

In an emailed response to a query by Bloomberg, however, Saudi Arabia's…

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12 Dec

LONDON: One of the International Monetary Fund’s top officials warned on Tuesday that storm clouds were gathering over the global economy and that governments and central banks might not be well-equipped to cope.

The fund had been urging governments to “fix the roof” during a sunny last two years for the world economy, IMF First Deputy Managing Director David Lipton said.

“But like many of you, I see storm clouds building, and fear the work on crisis prevention is incomplete,” he said at a banking conference hosted by Bloomberg.

He also warned that…

LONDON: One of the International Monetary Fund’s top officials warned on Tuesday that storm clouds were gathering over the global economy and that governments and central banks might not be well-equipped to cope.

The fund had been urging governments to “fix the roof” during a sunny last two years for the world economy, IMF First Deputy Managing Director David Lipton said.

“But like many of you, I see storm clouds building, and fear the work on crisis prevention is incomplete,” he said at a banking conference hosted by Bloomberg.

He also warned that…

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12 Dec

The International Halal Accreditation Forum (IHAF) has signed a Memorandum of Understanding (MoU) with the International Accreditation Forum (IAF) and International Laboratory Accreditation Cooperation (ILAC), in a consolidated effort to support the burgeoning global halal industry.

IHAF is an independent, non-government network of accreditation agencies mandated to enforce halal standards in their countries and regions. Headquartered in Dubai, UAE, IHAF now has 31 members across six continents.

With the global Muslim population projected to reach…

The International Halal Accreditation Forum (IHAF) has signed a Memorandum of Understanding (MoU) with the International Accreditation Forum (IAF) and International Laboratory Accreditation Cooperation (ILAC), in a consolidated effort to support the burgeoning global halal industry.

IHAF is an independent, non-government network of accreditation agencies mandated to enforce halal standards in their countries and regions. Headquartered in Dubai, UAE, IHAF now has 31 members across six continents.

With the global Muslim population projected to reach…

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12 Dec

Abdul Razak Dawood, Adviser to the PM on Commerce,  has underscored the importance of furthering trade and investment ties between Japan and Pakistan.

A seminar titled “Trade & Investment Opportunities in Pakistan” was held today at the Ministry of Economy, Trade & Industry (METI) of Japan. 

It was jointly organized by Japan External Trade Organization (JETRO), METI, Pakistan’s Ministry of Commerce & Textiles and the Embassy of Pakistan in Japan.

 The seminar was over-subscribed with around 200 participants primarily from the Japan business community in…

Abdul Razak Dawood, Adviser to the PM on Commerce,  has underscored the importance of furthering trade and investment ties between Japan and Pakistan.

A seminar titled “Trade & Investment Opportunities in Pakistan” was held today at the Ministry of Economy, Trade & Industry (METI) of Japan. 

It was jointly organized by Japan External Trade Organization (JETRO), METI, Pakistan’s Ministry of Commerce & Textiles and the Embassy of Pakistan in Japan.

 The seminar was over-subscribed with around 200 participants primarily from the Japan business community in…

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12 Dec

BRASILIA, Dec 10 (Reuters) - The Arab League has told Brazil's right-wing President-elect Jair Bolsonaro that moving Brazil's embassy in Israel to Jerusalem would be a setback for relations with Arab countries, in a letter seen by Reuters on Monday.

Such a move by Bolsonaro, who takes office on Jan. 1, would be a sharp shift in Brazilian foreign policy, which has traditionally backed a two-state solution to the Israeli-Palestinian conflict.

Ambassadors from Arab nations are expected to meet in Brasilia on Tuesday to discuss Bolsonaro's plan to follow U.S. President Donald…

BRASILIA, Dec 10 (Reuters) - The Arab League has told Brazil's right-wing President-elect Jair Bolsonaro that moving Brazil's embassy in Israel to Jerusalem would be a setback for relations with Arab countries, in a letter seen by Reuters on Monday.

Such a move by Bolsonaro, who takes office on Jan. 1, would be a sharp shift in Brazilian foreign policy, which has traditionally backed a two-state solution to the Israeli-Palestinian conflict.

Ambassadors from Arab nations are expected to meet in Brasilia on Tuesday to discuss Bolsonaro's plan to follow U.S. President Donald…

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12 Dec

ABU DHABI — Under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Food Control Authority (ADFCA), the ninth edition of SIAL Middle East and the fourth edition of Abu Dhabi Date Palm Exhibition will kick off December 10 at the Abu Dhabi National Exhibition Centre (ADNEC).

Running until December 12, the event will feature over 1,000 exhibitors and is expected to draw the participation of 25,000+ industry experts and unique visitors.

SIAL Middle East 2018 is taking place at a time…

ABU DHABI — Under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of Abu Dhabi Food Control Authority (ADFCA), the ninth edition of SIAL Middle East and the fourth edition of Abu Dhabi Date Palm Exhibition will kick off December 10 at the Abu Dhabi National Exhibition Centre (ADNEC).

Running until December 12, the event will feature over 1,000 exhibitors and is expected to draw the participation of 25,000+ industry experts and unique visitors.

SIAL Middle East 2018 is taking place at a time…

0 comments
12 Dec

KUALA LUMPUR, Dec 7 — The Halal Industry Development Corporation (HDC) is committed to Malaysia’s aspiration to become a high value-added and high-income economy and strengthen ties with regional and international economies which are fundamental to the growth of the global Islamic economy.

Chief Executive Officer Datuk Seri Jamil Bidin said the Islamic economy was being embraced globally, becoming an integral part of the international system and was further expanding opportunities for the international community’s participation.

“This increases the inter-linkages both…

KUALA LUMPUR, Dec 7 — The Halal Industry Development Corporation (HDC) is committed to Malaysia’s aspiration to become a high value-added and high-income economy and strengthen ties with regional and international economies which are fundamental to the growth of the global Islamic economy.

Chief Executive Officer Datuk Seri Jamil Bidin said the Islamic economy was being embraced globally, becoming an integral part of the international system and was further expanding opportunities for the international community’s participation.

“This increases the inter-linkages both…

0 comments
12 Dec

Islamic Corporation for the Development of Private Sector (ICD) and I-FinTech Solutions (IFTS) have signed an investment agreement to implement blockchain solutions for Islamic banks

The signing of the agreement between ICD and IFTS to implement new technology solutions in banking. (Image source: ICD)

In a statement, ICD, the private sector arm of the Islamic Development Bank Group (IsDB), has announced that it will work with Tunisia-based company IFTS to develop FinTech solutions.

The partnership involves a pipeline of…

Islamic Corporation for the Development of Private Sector (ICD) and I-FinTech Solutions (IFTS) have signed an investment agreement to implement blockchain solutions for Islamic banks

The signing of the agreement between ICD and IFTS to implement new technology solutions in banking. (Image source: ICD)

In a statement, ICD, the private sector arm of the Islamic Development Bank Group (IsDB), has announced that it will work with Tunisia-based company IFTS to develop FinTech solutions.

The partnership involves a pipeline of…

0 comments
12 Dec

Investors looking for a safe haven in turbulent financial markets should consider Islamic equities, according to a recent study.

Restrictions on debt and the diverse investment goals for Shariah-conscious shareholders could help provide a shelter in a time of crisis, academics including Sohel Azad of Melbourne’s Deakin Business School wrote in the November issue of the Journal of International Financial…

Investors looking for a safe haven in turbulent financial markets should consider Islamic equities, according to a recent study.

Restrictions on debt and the diverse investment goals for Shariah-conscious shareholders could help provide a shelter in a time of crisis, academics including Sohel Azad of Melbourne’s Deakin Business School wrote in the November issue of the Journal of International Financial…

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12 Dec

Muscat: Price change for consumer goods and services (excluding housing) in the Gulf Cooperation Council (GCC) countries rose by 4.6 percent over the 12 months period to September 2018, according to figures released today by the Statistical Center for the Gulf Cooperation Council (GCC-Stat).

The biggest increases were for tobacco 21.0 per cent, transport 10.4 per cent, restaurant and hotels by 6.7 per cent, food 4.1 per cent, recreation 3.3 per cent, furnishings 3.2 per cent, health 2.7 per cent, education 2.4 per cent, communication 1.7 per cent, miscellaneous…

Muscat: Price change for consumer goods and services (excluding housing) in the Gulf Cooperation Council (GCC) countries rose by 4.6 percent over the 12 months period to September 2018, according to figures released today by the Statistical Center for the Gulf Cooperation Council (GCC-Stat).

The biggest increases were for tobacco 21.0 per cent, transport 10.4 per cent, restaurant and hotels by 6.7 per cent, food 4.1 per cent, recreation 3.3 per cent, furnishings 3.2 per cent, health 2.7 per cent, education 2.4 per cent, communication 1.7 per cent, miscellaneous…

0 comments
12 Dec

The UAE has tied with Bahrain for first place

UAE businesses enjoy the highest economic freedom in the Arab world. This opens a wealth of opportunities to grow for UAE Inc. It also helps reduce poverty in the country, generate more employment opportunities and makes workforce and credit easily available.

According to the Fraser Institute's Economic Freedom of the Arab World's annual report 2018, the UAE tied with Bahrain for first place with a score of 8.0.

Among the sub-indices, the UAE's score for legal structure and security of property rights…

The UAE has tied with Bahrain for first place

UAE businesses enjoy the highest economic freedom in the Arab world. This opens a wealth of opportunities to grow for UAE Inc. It also helps reduce poverty in the country, generate more employment opportunities and makes workforce and credit easily available.

According to the Fraser Institute's Economic Freedom of the Arab World's annual report 2018, the UAE tied with Bahrain for first place with a score of 8.0.

Among the sub-indices, the UAE's score for legal structure and security of property rights…

0 comments
12 Dec

The get-together at the organization's headquarters in Jeddah sought solutions to the most pressing issues facing the Muslim world.

JEDDAH: Institutions affiliated with the Organization of Islamic Cooperation (OIC) met at its Jeddah headquarters on Monday and Tuesday to discuss the Muslim world’s most pressing issues.

Officials from the Islamic Development Bank, the Islamic Solidarity Fund for Development, the Social Research and Training Center for Islamic Countries (SESRIC) in Ankara, Turkey and the Islamic Committee of the International Crescent in Benghazi,…

The get-together at the organization's headquarters in Jeddah sought solutions to the most pressing issues facing the Muslim world.

JEDDAH: Institutions affiliated with the Organization of Islamic Cooperation (OIC) met at its Jeddah headquarters on Monday and Tuesday to discuss the Muslim world’s most pressing issues.

Officials from the Islamic Development Bank, the Islamic Solidarity Fund for Development, the Social Research and Training Center for Islamic Countries (SESRIC) in Ankara, Turkey and the Islamic Committee of the International Crescent in Benghazi,…

0 comments
12 Dec

Some 40,000 visitors from 80 countries attended this year's Organization of Islamic Cooperation (OIC) Halal Expo, organized under the auspices of the Turkish Presidency and held between Nov. 29 and Dec. 2 in Istanbul Daily Sabah reported

Some 5,000 delegations participated in the expo, which presented a wide range of products and services that comply with Islamic guidelines (known as halal), said Yunus Ete, head of the World Halal Summit council and chairman of Discovery Events.

One of the most important gatherings on global market halal products and services, the event was…

Some 40,000 visitors from 80 countries attended this year's Organization of Islamic Cooperation (OIC) Halal Expo, organized under the auspices of the Turkish Presidency and held between Nov. 29 and Dec. 2 in Istanbul Daily Sabah reported

Some 5,000 delegations participated in the expo, which presented a wide range of products and services that comply with Islamic guidelines (known as halal), said Yunus Ete, head of the World Halal Summit council and chairman of Discovery Events.

One of the most important gatherings on global market halal products and services, the event was…

0 comments
12 Dec

KUALA LUMPUR: Business owners, especially those with small and medium-sized enterprises (SMEs), wanting to expand their business could seek advice from CIMB by going to its booth at the Malaysia Agriculture, Horticulture and Agrotourism Show (MAHA 2018) in Serdang Selangor.

CIMB Group Islamic Banking chief executive officer Rafe Haneef said the bank has a formula for SMEs who want to expand their business, as well as for those planning to export their products to new markets abroad.

SME represents the backbone of the Malaysian economy, and the industry…

KUALA LUMPUR: Business owners, especially those with small and medium-sized enterprises (SMEs), wanting to expand their business could seek advice from CIMB by going to its booth at the Malaysia Agriculture, Horticulture and Agrotourism Show (MAHA 2018) in Serdang Selangor.

CIMB Group Islamic Banking chief executive officer Rafe Haneef said the bank has a formula for SMEs who want to expand their business, as well as for those planning to export their products to new markets abroad.

SME represents the backbone of the Malaysian economy, and the industry…

0 comments
12 Dec

In order to reduce the risks of the international monetary system, dominated by a single currency, Turkey once again called upon the OIC countries to use national currencies in trade

Amid worsening concerns over international trade and the international monetary system, which is dominated by a single currency, Turkey has reiterated its call on Organization of Islamic Cooperation (OIC) countries to use national currencies in bilateral trade. Using local currencies with trade partners has been on Turkey’s agenda for some time now and it has taken some…

In order to reduce the risks of the international monetary system, dominated by a single currency, Turkey once again called upon the OIC countries to use national currencies in trade

Amid worsening concerns over international trade and the international monetary system, which is dominated by a single currency, Turkey has reiterated its call on Organization of Islamic Cooperation (OIC) countries to use national currencies in bilateral trade. Using local currencies with trade partners has been on Turkey’s agenda for some time now and it has taken some…

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12 Dec

World Halal Summit 2018 and the 6th Organization of Islamic Cooperation (OIC) Halal Expo kicked off in Istanbul on Thursday.

The two major gatherings on the global market for products and services conforming to Islamic guidelines (known as halal) -- organized under the auspices of the Turkish Presidency -- gathered some 250 exhibitors during four days starting from Thursday.

This year the summit and the expo -- for which Anadolu Agency is the global communications partner -- are expected to attract scholars, company representatives, experts, business people and politicians…

World Halal Summit 2018 and the 6th Organization of Islamic Cooperation (OIC) Halal Expo kicked off in Istanbul on Thursday.

The two major gatherings on the global market for products and services conforming to Islamic guidelines (known as halal) -- organized under the auspices of the Turkish Presidency -- gathered some 250 exhibitors during four days starting from Thursday.

This year the summit and the expo -- for which Anadolu Agency is the global communications partner -- are expected to attract scholars, company representatives, experts, business people and politicians…

0 comments
11 Nov

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has signed a memorandum of understanding (MoU) with the top three centers of excellence in Islamic finance (CEIFs) for joint promotion and development of Islamic capital markets, a statement said on Friday.

The statement said the SECP inked the agreement of cooperation with Lahore University of Management Sciences (LUMS), Institute of Business Administration (IBA) and Institute of Management Sciences (IMS) in a ceremony at the corporate regulator’s headquarters.

The SECP has taken many initiatives for…

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has signed a memorandum of understanding (MoU) with the top three centers of excellence in Islamic finance (CEIFs) for joint promotion and development of Islamic capital markets, a statement said on Friday.

The statement said the SECP inked the agreement of cooperation with Lahore University of Management Sciences (LUMS), Institute of Business Administration (IBA) and Institute of Management Sciences (IMS) in a ceremony at the corporate regulator’s headquarters.

The SECP has taken many initiatives for…

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11 Nov

There were no gigantic midnight queues as the gates of stores or shopping malls across Turkey in the early hours of Nov. 23, but every year the country embraces the so-called “Black Friday” shopping spree, with more online businesses joining discount campaigns.

Amazon.com was this year’s major newcomer after the company launched its Turkey operations in September.

“Hurry up not to miss…

There were no gigantic midnight queues as the gates of stores or shopping malls across Turkey in the early hours of Nov. 23, but every year the country embraces the so-called “Black Friday” shopping spree, with more online businesses joining discount campaigns.

Amazon.com was this year’s major newcomer after the company launched its Turkey operations in September.

“Hurry up not to miss…

0 comments
11 Nov

Istanbul next week will host two major gatherings on the global market for products and services conforming to Islamic guidelines, known as Halal.

This year the World Halal Summit Istanbul (WHSI) and the 6th Organization of Islamic Cooperation (OIC) is expected to attract scholars, company representatives, experts, business people and politicians from around 80 countries.

Starting on Nov. 29, some 250 exhibitors are expected to attend the four-day expo in such sectors as food, tourism, and finance.

Last year nearly 30,000 visitors from 72 countries and 150…

Istanbul next week will host two major gatherings on the global market for products and services conforming to Islamic guidelines, known as Halal.

This year the World Halal Summit Istanbul (WHSI) and the 6th Organization of Islamic Cooperation (OIC) is expected to attract scholars, company representatives, experts, business people and politicians from around 80 countries.

Starting on Nov. 29, some 250 exhibitors are expected to attend the four-day expo in such sectors as food, tourism, and finance.

Last year nearly 30,000 visitors from 72 countries and 150…

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11 Nov

Prime Minister Imran Khan, on a two-day official visit to Malaysia, said Pakistan intended to learn from Malaysia’s economic development and progress through the years.

The premier also invited Malaysian counterpart Mahathir Mohammad to attend Pakistan Day celebration in 2019. The two countries agreed to enhance bilateral cooperation in trade, privatization, foreign direct investment, food, and tourism. “We look up to him [Mahatir] – a leader who transformed his country. We have followed Malaysia’s progress and my party [Pakistan Tehreek-e-Insaf] wants to learn from your leadership…

Prime Minister Imran Khan, on a two-day official visit to Malaysia, said Pakistan intended to learn from Malaysia’s economic development and progress through the years.

The premier also invited Malaysian counterpart Mahathir Mohammad to attend Pakistan Day celebration in 2019. The two countries agreed to enhance bilateral cooperation in trade, privatization, foreign direct investment, food, and tourism. “We look up to him [Mahatir] – a leader who transformed his country. We have followed Malaysia’s progress and my party [Pakistan Tehreek-e-Insaf] wants to learn from your leadership…

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11 Nov

The establishment of a new Halal Trade and Marketing Centre in Dubai is geared to support global companies, startups, and businesses operating in the Islamic economy, the Director General of the Dubai Airport Freezone Authority (DAFZA) has said.

DAFZA and the Dubai Islamic Economy Development Centre launched the first of its kind Halal Trade and Marketing Centre last month, the emirate’s Media Office said in a statement.

The Halal Trade and Marketing Center (HTMC) is a global business…

The establishment of a new Halal Trade and Marketing Centre in Dubai is geared to support global companies, startups, and businesses operating in the Islamic economy, the Director General of the Dubai Airport Freezone Authority (DAFZA) has said.

DAFZA and the Dubai Islamic Economy Development Centre launched the first of its kind Halal Trade and Marketing Centre last month, the emirate’s Media Office said in a statement.

The Halal Trade and Marketing Center (HTMC) is a global business…

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05 May

Hijab

Jakarta. What comes to your mind when you hear the word hijab, or the headscarf? In the current political climate, more than a few would say oppression of women or religious fanaticism. But what about liberation or rebellion against the system? It may sound strange, but throughout history, the hijab has meant all of those things for Indonesian women.

During Suharto’s repressive New Order dictatorship for example, many style choices deemed as symbols of rebellion, such as long hair for boys and yes, the hijab, were banned.

Hijab

Jakarta. What comes to your mind when you hear the word hijab, or the headscarf? In the current political climate, more than a few would say oppression of women or religious fanaticism. But what about liberation or rebellion against the system? It may sound strange, but throughout history, the hijab has meant all of those things for Indonesian women.

During Suharto’s repressive New Order dictatorship for example, many style choices deemed as symbols of rebellion, such as long hair for boys and yes, the hijab, were banned.

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05 May

Muslim

April 1. National Union of Teachers (NUT) delegates condemned efforts by Ofsted, the chief regulator of British schools, to ban the hijab, a Muslim head covering, in primary schools. Ofsted said the measure was aimed at promoting the integration of Muslim pupils. Teachers blasted the policy, announced by Ofsted director Amanda Spielman, as "racism dressed up as liberalism."

Kauser Jan, a Muslim activist and teacher in Leeds…

Muslim

April 1. National Union of Teachers (NUT) delegates condemned efforts by Ofsted, the chief regulator of British schools, to ban the hijab, a Muslim head covering, in primary schools. Ofsted said the measure was aimed at promoting the integration of Muslim pupils. Teachers blasted the policy, announced by Ofsted director Amanda Spielman, as "racism dressed up as liberalism."

Kauser Jan, a Muslim activist and teacher in Leeds…

0 comments
05 May

Turkey's Potential

Turkey's potential for Islamic banks is "very big," according to a top official of a Bahrain-based international group representing Islamic finance.

"I think the potential is much bigger than it is now. The potential is very big. Maybe it is not utilized enough," Abdelilah Belatik, secretary-general of the General Council for Islamic Banks and Financial Institutions (CIBAFI), told Anadolu Agency late Wednesday, on the sidelines of the CIBAFI Global Forum in Istanbul.

The two-day CIBAFI Global Forum 2018, which wraps up Thursday with Anadolu…

Turkey's Potential

Turkey's potential for Islamic banks is "very big," according to a top official of a Bahrain-based international group representing Islamic finance.

"I think the potential is much bigger than it is now. The potential is very big. Maybe it is not utilized enough," Abdelilah Belatik, secretary-general of the General Council for Islamic Banks and Financial Institutions (CIBAFI), told Anadolu Agency late Wednesday, on the sidelines of the CIBAFI Global Forum in Istanbul.

The two-day CIBAFI Global Forum 2018, which wraps up Thursday with Anadolu…

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05 May

Islamic Financial 

The General Council for Islamic Financial Institutions (CIBAFI) will stay relevant in the industry as the world changes, secretary-general of the financial body said on Wednesday.

"The world is in continuous change, disruptions are affecting all business sectors. The CIBAFI is always keen to remain relevant to our members, stakeholders and the industry at large," Abdelilah Belatik said in his opening remarks of the two-day CIBAFI Global Forum in Istanbul.

The CIBAFI Global Forum 2018, of which Anadolu Agency is the global communication partner,…

Islamic Financial 

The General Council for Islamic Financial Institutions (CIBAFI) will stay relevant in the industry as the world changes, secretary-general of the financial body said on Wednesday.

"The world is in continuous change, disruptions are affecting all business sectors. The CIBAFI is always keen to remain relevant to our members, stakeholders and the industry at large," Abdelilah Belatik said in his opening remarks of the two-day CIBAFI Global Forum in Istanbul.

The CIBAFI Global Forum 2018, of which Anadolu Agency is the global communication partner,…

0 comments
05 May

Islamic Banking

Today, we are witnessing an emergent Kenya' Islamic banking industry with global assets of over $2 trillion and growing at around 10 per cent per annum, taking hold in leading international markets.

There is also a thriving Islamic capital market with issuances of Shariah-compliant asset-based securities (Sukuk) reaching to $98 billion in 2017. With these recent developments, it is pertinent to ask, does Islamic finance have something to offer to non-Muslims?

The origins of Islamic finance lie in Islamic scriptural texts that prohibit usury (…

Islamic Banking

Today, we are witnessing an emergent Kenya' Islamic banking industry with global assets of over $2 trillion and growing at around 10 per cent per annum, taking hold in leading international markets.

There is also a thriving Islamic capital market with issuances of Shariah-compliant asset-based securities (Sukuk) reaching to $98 billion in 2017. With these recent developments, it is pertinent to ask, does Islamic finance have something to offer to non-Muslims?

The origins of Islamic finance lie in Islamic scriptural texts that prohibit usury (…

0 comments
05 May

Housing Loan

JEDDAH — Housing loan applicants have urged housing loan authorities to bring down the profit rate (7.43%) charged by commercial banks in the country on their loans and said the rate should be reduced to three percent to make it affordable to citizens.

Commercial banks, which have reached an alliance with the Housing Ministry and Real Estate Development Fund to provide housing loans, have started presenting various housing products to its clients, following the Murabaha and Ijara systems of Islamic finance.

Customers are…

Housing Loan

JEDDAH — Housing loan applicants have urged housing loan authorities to bring down the profit rate (7.43%) charged by commercial banks in the country on their loans and said the rate should be reduced to three percent to make it affordable to citizens.

Commercial banks, which have reached an alliance with the Housing Ministry and Real Estate Development Fund to provide housing loans, have started presenting various housing products to its clients, following the Murabaha and Ijara systems of Islamic finance.

Customers are…

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05 May

Indonesia Hijabfest

Jakarta. Indonesia Hijabfest 2018 will be held in Sasana Budaya Ganesha, Bandung, West Java, on May 2-5.

"Indonesia Hijabest is an annual event that was started in Bandung in 2012," Sheena Krisnawati, founder of Indonesia Hijabfest, said during a press conference in Jakarta on Friday (27/04).

Sheena, who also owns event organizer company Kaminari Productions, came up with the idea for the Hijabfest in 2010.

"At that time, I had just started wearing hijabs, but I wanted to remain looking modern and fashionable," she said…

Indonesia Hijabfest

Jakarta. Indonesia Hijabfest 2018 will be held in Sasana Budaya Ganesha, Bandung, West Java, on May 2-5.

"Indonesia Hijabest is an annual event that was started in Bandung in 2012," Sheena Krisnawati, founder of Indonesia Hijabfest, said during a press conference in Jakarta on Friday (27/04).

Sheena, who also owns event organizer company Kaminari Productions, came up with the idea for the Hijabfest in 2010.

"At that time, I had just started wearing hijabs, but I wanted to remain looking modern and fashionable," she said…

0 comments
04 Apr

BOP

LAHORE: A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on April 25, 2018 wherein Annual Audited Financial Statements of the Bank for the year ended December 31, 2017 and Un-audited Financial Statements for 1st quarter of year 2018 ended March 31, 2018 were approved by the Board.

The financial viability created through capital management measures and superb performance of the Bank in the past few years has enabled the Bank to take an important step of fully providing for the legacy Non-performing loans portfolio (NPLs),…

BOP

LAHORE: A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on April 25, 2018 wherein Annual Audited Financial Statements of the Bank for the year ended December 31, 2017 and Un-audited Financial Statements for 1st quarter of year 2018 ended March 31, 2018 were approved by the Board.

The financial viability created through capital management measures and superb performance of the Bank in the past few years has enabled the Bank to take an important step of fully providing for the legacy Non-performing loans portfolio (NPLs),…

0 comments
04 Apr

Islamic Bank

(Pajhwok): The Islamic Bank of Afghanistan (IBA), the first lender in the country to apply the interest-free principles of Islamic finance in all its operations, was officially inaugurated in Kabul on Tuesday.

Previously known as Bakhtar Bank that operated under a conventional banking license since it was acquired by Azizi Bank in 2009, the IBA was granted the license on April 9 by the central bank, Da Afghanistan Bank.

The bank began converting its assets and deposits in January to adhere to…

Islamic Bank

(Pajhwok): The Islamic Bank of Afghanistan (IBA), the first lender in the country to apply the interest-free principles of Islamic finance in all its operations, was officially inaugurated in Kabul on Tuesday.

Previously known as Bakhtar Bank that operated under a conventional banking license since it was acquired by Azizi Bank in 2009, the IBA was granted the license on April 9 by the central bank, Da Afghanistan Bank.

The bank began converting its assets and deposits in January to adhere to…

0 comments
02 Feb

Global Halal Food Market Report 2013 to 2018 Development Challenges and Services – Worldwide Market Forecasts and Analysis, CAGR of 9.0% From 2018 till 2023

Global Halal Food Market report encompasses the overall and comprehensive study of the Halal Food Market with all its aspects influencing the growth of the market. The report acknowledges the need to stay updated in this competitive market conditions and this provides an all-inclusive data for making strategies and decision so as to boost the market growth and profitability. The Porters Five Forces model and SWOT analyses…

Global Halal Food Market Report 2013 to 2018 Development Challenges and Services – Worldwide Market Forecasts and Analysis, CAGR of 9.0% From 2018 till 2023

Global Halal Food Market report encompasses the overall and comprehensive study of the Halal Food Market with all its aspects influencing the growth of the market. The report acknowledges the need to stay updated in this competitive market conditions and this provides an all-inclusive data for making strategies and decision so as to boost the market growth and profitability. The Porters Five Forces model and SWOT analyses…

0 comments
02 Feb

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Hydrocarbon Finder E&P LLC (HCF) signed an Islamic project financing facility for the development of oil and gas fields in Oman’s Block 7 operated by HCF.

The facilities agreement was signed by Sulaiman al Harthy, deputy chief executive officer - Meethaq Islamic Banking, and Brig Gen (retd) Sulaiman al Adawi, chairman of S&T Group on behalf of HCF, a press release said.

Harthy said, “Meethaq is proud to be associated with Hydrocarbon Finder and congratulate the promoters for initiating this…

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Hydrocarbon Finder E&P LLC (HCF) signed an Islamic project financing facility for the development of oil and gas fields in Oman’s Block 7 operated by HCF.

The facilities agreement was signed by Sulaiman al Harthy, deputy chief executive officer - Meethaq Islamic Banking, and Brig Gen (retd) Sulaiman al Adawi, chairman of S&T Group on behalf of HCF, a press release said.

Harthy said, “Meethaq is proud to be associated with Hydrocarbon Finder and congratulate the promoters for initiating this…

0 comments
02 Feb

MENA Fashion

 A fashion industry is taking shape in the MENA region that could create jobs for up to 20 million women, the Arab Fashion Council has said.
The organization, which aims to unite 22 Arab countries under one umbrella, is laying the framework for a style sector stretching from North Africa to the Gulf.
Countries will be divided into three clusters to harness the strengths of local economies and create a sustainable fashion infrastructure that reaches across the region, said Jacob Abrian, founder and chief executive of the Arab Fashion Council. “This way we…

MENA Fashion

 A fashion industry is taking shape in the MENA region that could create jobs for up to 20 million women, the Arab Fashion Council has said.
The organization, which aims to unite 22 Arab countries under one umbrella, is laying the framework for a style sector stretching from North Africa to the Gulf.
Countries will be divided into three clusters to harness the strengths of local economies and create a sustainable fashion infrastructure that reaches across the region, said Jacob Abrian, founder and chief executive of the Arab Fashion Council. “This way we…

0 comments
02 Feb

Indonesia has become the first Asian country to sell "green" bonds internationally in a US$1.25 billion (S$1.65 billion) deal as one of the world's largest greenhouse gas emitters tapped into investor interest in climate-friendly investments.

Globally, US$155.5 billion of so-called green bonds were sold last year, according to the London-based Climate Bonds Initiative. But only a handful of governments have themselves sold such deals, where the proceeds are earmarked for investment in environmentally friendly projects.

Indonesia on Friday (Feb 23) sold US$1.25 billion in…

Indonesia has become the first Asian country to sell "green" bonds internationally in a US$1.25 billion (S$1.65 billion) deal as one of the world's largest greenhouse gas emitters tapped into investor interest in climate-friendly investments.

Globally, US$155.5 billion of so-called green bonds were sold last year, according to the London-based Climate Bonds Initiative. But only a handful of governments have themselves sold such deals, where the proceeds are earmarked for investment in environmentally friendly projects.

Indonesia on Friday (Feb 23) sold US$1.25 billion in…

0 comments
02 Feb

Hotel rooms with prayer schedules and halal eateries among Muslim-friendly gestures.

TAIPEI • From halal fried chicken to hot springs hotels with prayer facilities, Taiwan is adapting its traditional tourist draws to woo Muslim visitors as Chinese arrivals dwindle.

Mainland tourist numbers have slid dramatically as China relations deteriorate, with speculation that the authorities there are turning off the supply to pressure Taiwan's Beijing-sceptic government.

Taiwan is now looking to boost relations with 16 South and South-East Asian countries, as well as…

Hotel rooms with prayer schedules and halal eateries among Muslim-friendly gestures.

TAIPEI • From halal fried chicken to hot springs hotels with prayer facilities, Taiwan is adapting its traditional tourist draws to woo Muslim visitors as Chinese arrivals dwindle.

Mainland tourist numbers have slid dramatically as China relations deteriorate, with speculation that the authorities there are turning off the supply to pressure Taiwan's Beijing-sceptic government.

Taiwan is now looking to boost relations with 16 South and South-East Asian countries, as well as…

0 comments
02 Feb

Hotel rooms with prayer schedules and halal eateries among Muslim-friendly gestures.

TAIPEI • From halal fried chicken to hot springs hotels with prayer facilities, Taiwan is adapting its traditional tourist draws to woo Muslim visitors as Chinese arrivals dwindle.

Mainland tourist numbers have slid dramatically as China relations deteriorate, with speculation that the authorities there are turning off the supply to pressure Taiwan's Beijing-sceptic government.

Taiwan is now looking to boost relations with 16 South and South-East Asian countries, as well as…

Hotel rooms with prayer schedules and halal eateries among Muslim-friendly gestures.

TAIPEI • From halal fried chicken to hot springs hotels with prayer facilities, Taiwan is adapting its traditional tourist draws to woo Muslim visitors as Chinese arrivals dwindle.

Mainland tourist numbers have slid dramatically as China relations deteriorate, with speculation that the authorities there are turning off the supply to pressure Taiwan's Beijing-sceptic government.

Taiwan is now looking to boost relations with 16 South and South-East Asian countries, as well as…

0 comments
02 Feb

Turkish Islamic lender Albaraka Turk has raised $205 million worth of capital-boosting Islamic bonds, or sukuk, the first issuance in the country designed to qualify as Tier 1 capital, the bank said in a statement.

The lender said the perpetual sukuk, sold as a private placement and issued through an Irish-domiciled special purpose vehicle, would pay a 10 percent profit rate.

Islamic banks have been developing sukuk designed to meet Basel III banking standards being phased in around the world, helping them shift away from funding through retail deposits and short-term…

Turkish Islamic lender Albaraka Turk has raised $205 million worth of capital-boosting Islamic bonds, or sukuk, the first issuance in the country designed to qualify as Tier 1 capital, the bank said in a statement.

The lender said the perpetual sukuk, sold as a private placement and issued through an Irish-domiciled special purpose vehicle, would pay a 10 percent profit rate.

Islamic banks have been developing sukuk designed to meet Basel III banking standards being phased in around the world, helping them shift away from funding through retail deposits and short-term…

0 comments
02 Feb

HONG KONG/JAKARTA, Indonesia will become the first Asian country to sell "green" bonds internationally as it looks to tap into growing investor interest in climate-friendly investments.

Globally, $155.5 billion of so-called green bonds were sold last year, according to the London-based Climate Bonds Initiative. But only a handful of governments have themselves sold such deals, where the proceeds are earmarked for investment in environmentally friendly projects.

Indonesia on Thursday launched a five-year green Sukuk bond - which means the deal will conform to Islamic finance…

HONG KONG/JAKARTA, Indonesia will become the first Asian country to sell "green" bonds internationally as it looks to tap into growing investor interest in climate-friendly investments.

Globally, $155.5 billion of so-called green bonds were sold last year, according to the London-based Climate Bonds Initiative. But only a handful of governments have themselves sold such deals, where the proceeds are earmarked for investment in environmentally friendly projects.

Indonesia on Thursday launched a five-year green Sukuk bond - which means the deal will conform to Islamic finance…

0 comments
02 Feb

Malaysia-based firm HelloGold has received a sharia-compliant certification for its gold-backed cryptocurrency and plans to launch its online gold platform in Thailand later this year, the company said.

Its cryptocurrency product, dubbed GOLDX, was launched at the end of last year and has now received certification from Amanie Advisors, a Malaysia-based Islamic finance consultancy, said chief marketing officer Manuel Ho.

Unlike other cryptocurrencies, GOLDX involves the issuance of a token backed by physical gold stored in a Singapore vault, and transactions must be…

Malaysia-based firm HelloGold has received a sharia-compliant certification for its gold-backed cryptocurrency and plans to launch its online gold platform in Thailand later this year, the company said.

Its cryptocurrency product, dubbed GOLDX, was launched at the end of last year and has now received certification from Amanie Advisors, a Malaysia-based Islamic finance consultancy, said chief marketing officer Manuel Ho.

Unlike other cryptocurrencies, GOLDX involves the issuance of a token backed by physical gold stored in a Singapore vault, and transactions must be…

0 comments
02 Feb

IDB Aiming for its Largest Sukuk Issuance

Bandar Hajjar, president of the Islamic Development Bank (IDB) has said the Saudi Arabia headquartered institution is planning soon to issue its largest sized Sukuk for $2.5 billion.

The 57 member AAA rated development bank is a regular issuer of Sukuk having last issued in September 2017 with a $1.25 billion issuance which was priced at 2.261%. As part of its stated capital market objectives, the multilateral bank is looking to…

IDB Aiming for its Largest Sukuk Issuance

Bandar Hajjar, president of the Islamic Development Bank (IDB) has said the Saudi Arabia headquartered institution is planning soon to issue its largest sized Sukuk for $2.5 billion.

The 57 member AAA rated development bank is a regular issuer of Sukuk having last issued in September 2017 with a $1.25 billion issuance which was priced at 2.261%. As part of its stated capital market objectives, the multilateral bank is looking to…

0 comments
02 Feb

Islamic Development Bank's "Transform" fund geared towards NGOs and SMEs working toward UN Sustainable Development Goals

The Islamic Development Bank (IDB) – the Jeddah-based multilateral development bank with a subcsribed capital of $33 billion – is launching a new fund which will provide seed money to innovative start-ups and SMEs, helping them implement development projects related to the UN’s Sustainable Development Goals.

The IDB’s new Transform fund, which has a target capital of $500 million, will run in tandem with a new online hub called Engage, designed to…

Islamic Development Bank's "Transform" fund geared towards NGOs and SMEs working toward UN Sustainable Development Goals

The Islamic Development Bank (IDB) – the Jeddah-based multilateral development bank with a subcsribed capital of $33 billion – is launching a new fund which will provide seed money to innovative start-ups and SMEs, helping them implement development projects related to the UN’s Sustainable Development Goals.

The IDB’s new Transform fund, which has a target capital of $500 million, will run in tandem with a new online hub called Engage, designed to…

0 comments
02 Feb

CIMB Investment Bank (CIMB IB) has emerged as the top winner in investment banking at an awards competition at the Southeast Asian level, for its strong and innovative capabilities in the capital markets, equities and trade finance.

CIMB IB, one of the largest Asia Pacific-based investment banks offering comprehensive research coverage of more than 700 stocks in the region, swept 12 awards for being the best in 2017 at the Alpha Southeast Asia Best Deals & Solutions Awards.

They included the Best Bond House, Best IPO Deal, Best Sukuk Deal, Most Innovative Sukuk Deal,…

CIMB Investment Bank (CIMB IB) has emerged as the top winner in investment banking at an awards competition at the Southeast Asian level, for its strong and innovative capabilities in the capital markets, equities and trade finance.

CIMB IB, one of the largest Asia Pacific-based investment banks offering comprehensive research coverage of more than 700 stocks in the region, swept 12 awards for being the best in 2017 at the Alpha Southeast Asia Best Deals & Solutions Awards.

They included the Best Bond House, Best IPO Deal, Best Sukuk Deal, Most Innovative Sukuk Deal,…

0 comments
02 Feb

Barwa Bank has won two esteemed titles at the European magazine Global Banking & Finance Awards 2017 in recognition of its service excellence and innovative efforts in the Islamic banking sector.
The bank was named the ‘Best Shariah-Compliant Bank’ in Qatar, while Barwa Bank Group CEO Khalid Yousef al-Subeai claimed the country’s ‘Best Banking CEO’ title.
Sheikh Mohamed bin Hamad bin Jassim al-Thani, chairman and managing partner of Barwa Bank Group, said: “The “Best Shariah-Compliant Bank in Qatar” award, presented by the European magazine Global Banking & Finance…

Barwa Bank has won two esteemed titles at the European magazine Global Banking & Finance Awards 2017 in recognition of its service excellence and innovative efforts in the Islamic banking sector.
The bank was named the ‘Best Shariah-Compliant Bank’ in Qatar, while Barwa Bank Group CEO Khalid Yousef al-Subeai claimed the country’s ‘Best Banking CEO’ title.
Sheikh Mohamed bin Hamad bin Jassim al-Thani, chairman and managing partner of Barwa Bank Group, said: “The “Best Shariah-Compliant Bank in Qatar” award, presented by the European magazine Global Banking & Finance…

0 comments
02 Feb

The world’s largest annual food and hospitality exhibition, according to its organisers, returns to Dubai on Sunday, with exhibitors from across the globe assembling to sell their seeds, cereals, and sourdough to large corporate customers, such as hotel chains and airlines.

Running from February 18 until February 22, the event is taking place at the Dubai World Trade Centre, with the 23rd edition of the show featuring over 5,000 local, regional and international exhibitors hawking their wares, and 97,000 attendees bearing witness to the food industry’s latest trends and technology…

The world’s largest annual food and hospitality exhibition, according to its organisers, returns to Dubai on Sunday, with exhibitors from across the globe assembling to sell their seeds, cereals, and sourdough to large corporate customers, such as hotel chains and airlines.

Running from February 18 until February 22, the event is taking place at the Dubai World Trade Centre, with the 23rd edition of the show featuring over 5,000 local, regional and international exhibitors hawking their wares, and 97,000 attendees bearing witness to the food industry’s latest trends and technology…

0 comments
02 Feb

The food and beverage sector in the Gulf Cooperation Council (GCC) states is expected to continue to grow at a healthy 7.1% annually, reaching $196bn by 2021, from the current $130bn, according to MENA Research Partners, a leading research company in the region. 


The F&B products segment, characterised by a large presence of international brands, either manufactured regionally through local factories or imported through distributors, accounts for the lion’s share of the market at 70%. However, the food service segment, led by international chains…

The food and beverage sector in the Gulf Cooperation Council (GCC) states is expected to continue to grow at a healthy 7.1% annually, reaching $196bn by 2021, from the current $130bn, according to MENA Research Partners, a leading research company in the region. 


The F&B products segment, characterised by a large presence of international brands, either manufactured regionally through local factories or imported through distributors, accounts for the lion’s share of the market at 70%. However, the food service segment, led by international chains…

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02 Feb

Banks in the United Arab Emirates are upbeat about 2018 with faster economic growth and higher interest rates set to boost earnings.

Banks are expected to raise lending by about 4 percent to 6 percent this year as Dubai prepares to host the Expo 2020. Interest rate increases by the Federal Reserve, which is shadowed by Gulf central banks, will also allow banks to raise loan pricing and improve net interest margins.

“Banks should do better because quality loan demand should pick up,” said Sanyalak Manibhandu, head of research at Abu Dhabi-based FAB Securities LLC. UAE…

Banks in the United Arab Emirates are upbeat about 2018 with faster economic growth and higher interest rates set to boost earnings.

Banks are expected to raise lending by about 4 percent to 6 percent this year as Dubai prepares to host the Expo 2020. Interest rate increases by the Federal Reserve, which is shadowed by Gulf central banks, will also allow banks to raise loan pricing and improve net interest margins.

“Banks should do better because quality loan demand should pick up,” said Sanyalak Manibhandu, head of research at Abu Dhabi-based FAB Securities LLC. UAE…

0 comments
02 Feb

The instrument will carry a dual listing on Nasdaq Dubai and the Irish Stock Exchange

Dubai Islamic Bank has launched a five-year $1 billion sukuk due to mature in February 2023, the bank announced on Wednesday.

The issuance, which emanates from the bank’s $5 billion sukuk programme, carried a profit rate of 3.65% and marks the first dollar-benchmarked sukuk transaction from the GCC in 2018.

The RegS transaction was executed following an investor meeting in Asia last year and a deal-related roadshow in London on January 29, 2018. A total of 120 orders were received…

The instrument will carry a dual listing on Nasdaq Dubai and the Irish Stock Exchange

Dubai Islamic Bank has launched a five-year $1 billion sukuk due to mature in February 2023, the bank announced on Wednesday.

The issuance, which emanates from the bank’s $5 billion sukuk programme, carried a profit rate of 3.65% and marks the first dollar-benchmarked sukuk transaction from the GCC in 2018.

The RegS transaction was executed following an investor meeting in Asia last year and a deal-related roadshow in London on January 29, 2018. A total of 120 orders were received…

0 comments
02 Feb

The Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS) 2018 taking place in Abu Dhabi’s Viceroy Yas Island hotel on January 29 to 30 has an impressive line-up of topics and speakers. The two-day event will bring together industry leaders and experts deliberating on topical issues, the art of selling in a weak market for example, controlling costs, debt and managing acquisitions, luxury products and their comparisons in terms of ROI, to that one question that everybody is thinking but scared to ask: is Dubai in danger of overbuilt? It will be a great place to emerge enlightened,…

The Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS) 2018 taking place in Abu Dhabi’s Viceroy Yas Island hotel on January 29 to 30 has an impressive line-up of topics and speakers. The two-day event will bring together industry leaders and experts deliberating on topical issues, the art of selling in a weak market for example, controlling costs, debt and managing acquisitions, luxury products and their comparisons in terms of ROI, to that one question that everybody is thinking but scared to ask: is Dubai in danger of overbuilt? It will be a great place to emerge enlightened,…

0 comments
02 Feb

DUBAI — A major shift in the food buying preferences of Saudi consumers is unlocking huge two-way trade opportunities in the Kingdom, according to a recent survey by leading research provider, Nielsen.

With Saudi’s domestic food producers receiving a confidence boost for their dairy, snacks, ice-cream, mineral water, tea and coffee production, a host of international suppliers are also reaping rewards from increasing demand for globally-branded baby food, energy drinks and canned foods in the Gulf’s largest market.

As global brands maintain their…

DUBAI — A major shift in the food buying preferences of Saudi consumers is unlocking huge two-way trade opportunities in the Kingdom, according to a recent survey by leading research provider, Nielsen.

With Saudi’s domestic food producers receiving a confidence boost for their dairy, snacks, ice-cream, mineral water, tea and coffee production, a host of international suppliers are also reaping rewards from increasing demand for globally-branded baby food, energy drinks and canned foods in the Gulf’s largest market.

As global brands maintain their…

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01 Jan

The Dubai Islamic Economy Development Centre (DIEDC) today announced the signing of a memorandum of understanding (MoU) with the Group of Strategic Vision ‘Russia – Islamic World’ (RIW Group) to exchange expertise and best practices in the field of Islamic economy.

His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, and Rustam Minnikhanov, President of Tatarstan and Chairman of the RIW Group, attended the signing ceremony at the headquarters of DIEDC. His Excellency Abdulla Mohammed Al Awar, Chief Executive Officer of DIEDC, and His Excellency…

The Dubai Islamic Economy Development Centre (DIEDC) today announced the signing of a memorandum of understanding (MoU) with the Group of Strategic Vision ‘Russia – Islamic World’ (RIW Group) to exchange expertise and best practices in the field of Islamic economy.

His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, and Rustam Minnikhanov, President of Tatarstan and Chairman of the RIW Group, attended the signing ceremony at the headquarters of DIEDC. His Excellency Abdulla Mohammed Al Awar, Chief Executive Officer of DIEDC, and His Excellency…

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01 Jan

It appears that Iran is steadily fulfilling its ambitious goal to lure foreign funds despite the US President Donald Trump’s attempts to sabotage Tehran’s plans to benefit from its controversial nuclear deal with the world powers.

The Islamic Republic’s latest and probably the most significant achievement in this regard was a $6 billion investment agreement with Italy inked on Thursday.

Under the agreement between two Iranian institutions, Bank of Industry and Mine and Middle East Bank, as well as the investment arm of Italian state-owned holding Invitalia, the European…

It appears that Iran is steadily fulfilling its ambitious goal to lure foreign funds despite the US President Donald Trump’s attempts to sabotage Tehran’s plans to benefit from its controversial nuclear deal with the world powers.

The Islamic Republic’s latest and probably the most significant achievement in this regard was a $6 billion investment agreement with Italy inked on Thursday.

Under the agreement between two Iranian institutions, Bank of Industry and Mine and Middle East Bank, as well as the investment arm of Italian state-owned holding Invitalia, the European…

0 comments
01 Jan

A report by the International Monetary Fund lists quite a few challenges for the Gulf economies ... but some of the insights presented can be vigorously challenged. For instance, the report suggests that ever since the drop in oil prices, fiscal consolidation has focused on the reduction of expenditure.

This is true but conveniently overlooks the steady reforms concerning revenue generation. In fact, budgets released by some GCC states for fiscal 2018 confirm a rise — rather than decline — in spending.

 

Total expenditure in Saudi Arabia’s 2018 budget is projected…

A report by the International Monetary Fund lists quite a few challenges for the Gulf economies ... but some of the insights presented can be vigorously challenged. For instance, the report suggests that ever since the drop in oil prices, fiscal consolidation has focused on the reduction of expenditure.

This is true but conveniently overlooks the steady reforms concerning revenue generation. In fact, budgets released by some GCC states for fiscal 2018 confirm a rise — rather than decline — in spending.

 

Total expenditure in Saudi Arabia’s 2018 budget is projected…

0 comments
01 Jan

KARACHI (Dunya News) – State Bank of Pakistan (SBP) has been voted as the Best Central Bank in Promoting Islamic Finance by a poll conducted by International Finance News (IFN), an arm of Red Money Agency, Malaysia.

State Bank of Pakistan has also won this award in 2015. It is also important mentioning that in 2016, Pakistan was awarded Global Islamic Finance Award (Advocacy Award) by Edbiz Consulting Limited, UK. This recognizes the dedication and commitment of State Bank of Pakistan over the years for laying sound foundations for sustainable growth of Islamic finance industry in…

KARACHI (Dunya News) – State Bank of Pakistan (SBP) has been voted as the Best Central Bank in Promoting Islamic Finance by a poll conducted by International Finance News (IFN), an arm of Red Money Agency, Malaysia.

State Bank of Pakistan has also won this award in 2015. It is also important mentioning that in 2016, Pakistan was awarded Global Islamic Finance Award (Advocacy Award) by Edbiz Consulting Limited, UK. This recognizes the dedication and commitment of State Bank of Pakistan over the years for laying sound foundations for sustainable growth of Islamic finance industry in…

0 comments
01 Jan

HTF MI published a new industry research that focuses on Halal Food market and delivers in-depth market analysis and future prospects of� Global Halal Food market. The study covers significant data which makes the research document a handy resource for managers, analysts, industry experts and other key people get ready-to-access and self-analyzed study along with graphs and tables to help understand market trends, drivers and market challenges. The study is segmented by Application/ end users [Restaurant, Hotel, Home & Others], products type [Fresh Products, Frozen…

HTF MI published a new industry research that focuses on Halal Food market and delivers in-depth market analysis and future prospects of� Global Halal Food market. The study covers significant data which makes the research document a handy resource for managers, analysts, industry experts and other key people get ready-to-access and self-analyzed study along with graphs and tables to help understand market trends, drivers and market challenges. The study is segmented by Application/ end users [Restaurant, Hotel, Home & Others], products type [Fresh Products, Frozen…

0 comments
01 Jan

Most S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts for the year as information technology companies - which tend to be overweight in Islamic Indices - gained a whopping 39.4% beating the overall market by a wide margin, and financials - which are underrepresented in Islamic indices - experienced some weakness. This marked a reversal from 2016, where a surge in the financial sector late in the year caused Shariah-compliant benchmarks to lag. One notable exception to the 2017 trend was in the Middle East, where conventional and Islamic…

Most S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts for the year as information technology companies - which tend to be overweight in Islamic Indices - gained a whopping 39.4% beating the overall market by a wide margin, and financials - which are underrepresented in Islamic indices - experienced some weakness. This marked a reversal from 2016, where a surge in the financial sector late in the year caused Shariah-compliant benchmarks to lag. One notable exception to the 2017 trend was in the Middle East, where conventional and Islamic…

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01 Jan

ABU DHABI: The reality is that the energy mix for the foreseeable future is going to consist of both fossil fuels and renewable energy forces, according to Frederick Kempe, President of the Atlantic Council. “Work in the energy market with a mix of both these energy forces is key to why we brought the Global Energy Forum to the UAE.”

Kempe’s remarks come ahead of the Abu Dhabi Sustainability Week, with the Atlantic Council holding its second-annual Global Energy Forum in the capital this weekend. The two-day premier event, opening today, gathers international and regional industry…

ABU DHABI: The reality is that the energy mix for the foreseeable future is going to consist of both fossil fuels and renewable energy forces, according to Frederick Kempe, President of the Atlantic Council. “Work in the energy market with a mix of both these energy forces is key to why we brought the Global Energy Forum to the UAE.”

Kempe’s remarks come ahead of the Abu Dhabi Sustainability Week, with the Atlantic Council holding its second-annual Global Energy Forum in the capital this weekend. The two-day premier event, opening today, gathers international and regional industry…

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01 Jan

Doha: HE Minister of Finance Ali Shareef Al Emadi said that Qatar's Islamic Banks is the third largest contributor to global growth in Islamic banking, with Qatari Islamic banking accounting for about 25% of the country's banking sector.

Addressing the 4th Doha Islamic Finance Conference on Tuesday, HE the Minister of Finance said that the State of Qatar has demonstrated its ability to continue in this field and to fulfill all its commitments with other countries.

HE the Minister called for continued growth in the Islamic finance sector through concerted efforts to confront…

Doha: HE Minister of Finance Ali Shareef Al Emadi said that Qatar's Islamic Banks is the third largest contributor to global growth in Islamic banking, with Qatari Islamic banking accounting for about 25% of the country's banking sector.

Addressing the 4th Doha Islamic Finance Conference on Tuesday, HE the Minister of Finance said that the State of Qatar has demonstrated its ability to continue in this field and to fulfill all its commitments with other countries.

HE the Minister called for continued growth in the Islamic finance sector through concerted efforts to confront…

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01 Jan

LONDON: While 2017 was a bumper year for global sukuk issuance, the outlook for Islamic bonds remains "uncertain" for the coming year, according to ratings agency S&P Global.
Global sukuk issuance in 2017 reached $97.9 billion, an increase of 45.3 percent, from the $67.4 billion recorded in 2016. The increase was underpinned by large issuances by GCC countries, particularly the $9 billion sukuk issued by Saudi Arabia in April. This remains the largest issuance globally to date.

"Driving this performance were good liquidity conditions in the GCC and, more generally,…

LONDON: While 2017 was a bumper year for global sukuk issuance, the outlook for Islamic bonds remains "uncertain" for the coming year, according to ratings agency S&P Global.
Global sukuk issuance in 2017 reached $97.9 billion, an increase of 45.3 percent, from the $67.4 billion recorded in 2016. The increase was underpinned by large issuances by GCC countries, particularly the $9 billion sukuk issued by Saudi Arabia in April. This remains the largest issuance globally to date.

"Driving this performance were good liquidity conditions in the GCC and, more generally,…

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01 Jan

Royal decree turning state-owned oil giant into joint stock company dispels doubts about IPO

Saudi Arabia has taken a key step towards allowing future investors to buy shares in its national oil company, as it prepares for the world’s biggest stock market flotation later this year.

Saudi Aramco was recently forced to deny it was planning to shelve plans for its $2tn flotation of 5% of the…

Royal decree turning state-owned oil giant into joint stock company dispels doubts about IPO

Saudi Arabia has taken a key step towards allowing future investors to buy shares in its national oil company, as it prepares for the world’s biggest stock market flotation later this year.

Saudi Aramco was recently forced to deny it was planning to shelve plans for its $2tn flotation of 5% of the…

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01 Jan

For the first time since 1975, the United States is poised to surpass Saudi Arabia and Russia as the world's leading producer of crude oil.

According to research released by Rystad Energy at the end of December, "U.S. crude oil production could pass the levels of both Saudi Arabia and Russia within a year from now."

The U.S. has already ramped up crude production in 2018, increasing output by 10 percent, reaching about 11 million barrels per day.

Fracking had already…

For the first time since 1975, the United States is poised to surpass Saudi Arabia and Russia as the world's leading producer of crude oil.

According to research released by Rystad Energy at the end of December, "U.S. crude oil production could pass the levels of both Saudi Arabia and Russia within a year from now."

The U.S. has already ramped up crude production in 2018, increasing output by 10 percent, reaching about 11 million barrels per day.

Fracking had already…

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01 Jan

THESE have been testing times for Emin Taha and his Turkish transport company. The war against the so-called Islamic State has reduced much of Mosul, Iraq’s second city and a big market for Turkish goods, to rubble. Trade with Iraqi Kurdistan ground to a halt when the federal government in Baghdad reacted furiously to an independence referendum in September. (It deployed troops to the contested city of Kirkuk, seized the nearby oilfields and closed Kurdish airspace to international flights.) Mr Taha, whose company relies on trade with Iraq for the bulk of its revenues, refused to give up…

THESE have been testing times for Emin Taha and his Turkish transport company. The war against the so-called Islamic State has reduced much of Mosul, Iraq’s second city and a big market for Turkish goods, to rubble. Trade with Iraqi Kurdistan ground to a halt when the federal government in Baghdad reacted furiously to an independence referendum in September. (It deployed troops to the contested city of Kirkuk, seized the nearby oilfields and closed Kurdish airspace to international flights.) Mr Taha, whose company relies on trade with Iraq for the bulk of its revenues, refused to give up…

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01 Jan

Turkey last year recorded the second-highest export volume in the republic's history with $157.1 billion, the Ministry of Customs and Trade's provisional data revealed yesterday.

The exports reached $157.1 billion in January-December 2017, marking an increase of 10.22 percent, the ministry's data bulletin said. In 2016, Turkish exports stood at $142.5 billion.

It also surpassed the $156.5 billion export goal set in the Medium Term Plan. Turkey's highest export figure was recorded in 2014 with $157.6 billion, according to official data.

The export figure was boosted…

Turkey last year recorded the second-highest export volume in the republic's history with $157.1 billion, the Ministry of Customs and Trade's provisional data revealed yesterday.

The exports reached $157.1 billion in January-December 2017, marking an increase of 10.22 percent, the ministry's data bulletin said. In 2016, Turkish exports stood at $142.5 billion.

It also surpassed the $156.5 billion export goal set in the Medium Term Plan. Turkey's highest export figure was recorded in 2014 with $157.6 billion, according to official data.

The export figure was boosted…

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01 Jan

The introduction of a Value Added Tax (VAT) regime in the UAE marks the beginning of a new era in the history of the UAE economy where the general public will start sharing the burden of budgetary expenditure, starting today (January 1, 2018).

While the VAT is expected to contribute Dh12 billion to the UAE exchequer, studies show the consumption tax across GCC countries is expected to raise additional revenues between 1.2 to 1.6 per cent of GDP in the first year.

Across GCC

The UAE along with Saudi Arabia has taken the pioneering step in introducing…

The introduction of a Value Added Tax (VAT) regime in the UAE marks the beginning of a new era in the history of the UAE economy where the general public will start sharing the burden of budgetary expenditure, starting today (January 1, 2018).

While the VAT is expected to contribute Dh12 billion to the UAE exchequer, studies show the consumption tax across GCC countries is expected to raise additional revenues between 1.2 to 1.6 per cent of GDP in the first year.

Across GCC

The UAE along with Saudi Arabia has taken the pioneering step in introducing…

0 comments
01 Jan

Qatar economy’s 5.5% growth in the third quarter is pretty impressive as it was achieved amid difficult conditions, including the unjustified blockade on the country by a quartet of Arab nations.
According to the Ministry of Development Planning and Statistics (MDPS), a robust expansion in both hydrocarbons and non-hydrocarbons helped Qatar economy register 5.5% surge year-on-year in real terms (inflation-adjusted) during the third quarter (Q3) of this year.
Qatar’s economic fundamentals remain sound as illustrated by its high ratings across all…

Qatar economy’s 5.5% growth in the third quarter is pretty impressive as it was achieved amid difficult conditions, including the unjustified blockade on the country by a quartet of Arab nations.
According to the Ministry of Development Planning and Statistics (MDPS), a robust expansion in both hydrocarbons and non-hydrocarbons helped Qatar economy register 5.5% surge year-on-year in real terms (inflation-adjusted) during the third quarter (Q3) of this year.
Qatar’s economic fundamentals remain sound as illustrated by its high ratings across all…

0 comments
01 Jan

A partial recovery in oil prices coupled with an ongoing all-out diversification drive and the landmark tax reform, will help the UAE economy to gain increased momentum in 2018 to register 3.3 per cent growth.

After an expected slowdown to 1.7 per cent in 2017, such a vibrant pace of growth predicted for 2018 signifies a virtual turnaround for the economy with a two-fold growth, driven by a rebound in gross domestic product by Dubai and Abu Dhabi, analysts and economists said.

While the ongoing fast-track diversification aimed at further reducing reliance on crude oil…

A partial recovery in oil prices coupled with an ongoing all-out diversification drive and the landmark tax reform, will help the UAE economy to gain increased momentum in 2018 to register 3.3 per cent growth.

After an expected slowdown to 1.7 per cent in 2017, such a vibrant pace of growth predicted for 2018 signifies a virtual turnaround for the economy with a two-fold growth, driven by a rebound in gross domestic product by Dubai and Abu Dhabi, analysts and economists said.

While the ongoing fast-track diversification aimed at further reducing reliance on crude oil…

0 comments
01 Jan

KUALA LUMPUR: The Malaysian economy is expected to register healthy growth in 2018, and further reduction of the deficit, according to Prime Minister Datuk Seri Najib Abdul Razak.

Najib said as reported by the World Bank, the Malaysian economy was progressing from a position of strength.

"We continue to take all steps necessary to build the nation and promote the safety, welfare and happiness of the Malaysian people," he said in his New Year message.

The text of his message was issued by the Prime Minister's Office.

He described 2017 as a…

KUALA LUMPUR: The Malaysian economy is expected to register healthy growth in 2018, and further reduction of the deficit, according to Prime Minister Datuk Seri Najib Abdul Razak.

Najib said as reported by the World Bank, the Malaysian economy was progressing from a position of strength.

"We continue to take all steps necessary to build the nation and promote the safety, welfare and happiness of the Malaysian people," he said in his New Year message.

The text of his message was issued by the Prime Minister's Office.

He described 2017 as a…

0 comments
01 Jan

Islamabad--Pakistan is working on a plan now to sign a government-to-government oil import agreement with energy-rich Russia in a move that will lessen Pakistan’s excessive reliance on Middle Eastern countries.

At present, Pakistan is importing oil from the Gulf Arab states including the United Arab Emirates (UAE), Kuwait and Saudi Arabia. For meeting gas needs, it is purchasing the commodity from another Gulf country, Qatar.

According to sources, the proposal for oil import from Russia was discussed in ministerial-level dialogue between Pakistan and Russia…

Islamabad--Pakistan is working on a plan now to sign a government-to-government oil import agreement with energy-rich Russia in a move that will lessen Pakistan’s excessive reliance on Middle Eastern countries.

At present, Pakistan is importing oil from the Gulf Arab states including the United Arab Emirates (UAE), Kuwait and Saudi Arabia. For meeting gas needs, it is purchasing the commodity from another Gulf country, Qatar.

According to sources, the proposal for oil import from Russia was discussed in ministerial-level dialogue between Pakistan and Russia…

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12 Dec

Pakistan’s livestock sector has the potential to tap into the international halal trade. Malik Tahir Javaid, President of the Lahore Chamber of Commerce & Industry (LCCI), said global meat demand will double in the next two decades and Pakistan has the resources to become a global leader in this sector. 

According to him, Pakistan being a Muslim country has to understand the importance of halal certification as this will boost the country’s exports and help it transform the face of its economy. “The global halal trade is worth over USD 300 billion. If Pakistan is able to attain…

Pakistan’s livestock sector has the potential to tap into the international halal trade. Malik Tahir Javaid, President of the Lahore Chamber of Commerce & Industry (LCCI), said global meat demand will double in the next two decades and Pakistan has the resources to become a global leader in this sector. 

According to him, Pakistan being a Muslim country has to understand the importance of halal certification as this will boost the country’s exports and help it transform the face of its economy. “The global halal trade is worth over USD 300 billion. If Pakistan is able to attain…

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12 Dec

LONDON: Gone are the days where “halal” shopping referred only to a trip to the local butchers to ask for a special cut. Muslims across the world are increasingly product-savvy, seeking out the latest consumer products that also fit their religious beliefs, spelling a boom in the so-called Islamic economy.
The year ahead ushers in trends for modest garb for men and women, Barbies with mix-and-match abaya wardrobes, and from-scratch meal kits for those who want both a tasty, and halal, dinner.
As the international Muslim population grows, the Islamic economy is expected to grow…

LONDON: Gone are the days where “halal” shopping referred only to a trip to the local butchers to ask for a special cut. Muslims across the world are increasingly product-savvy, seeking out the latest consumer products that also fit their religious beliefs, spelling a boom in the so-called Islamic economy.
The year ahead ushers in trends for modest garb for men and women, Barbies with mix-and-match abaya wardrobes, and from-scratch meal kits for those who want both a tasty, and halal, dinner.
As the international Muslim population grows, the Islamic economy is expected to grow…

0 comments
12 Dec

Improving oil prices, narrowing deficits and continued public spending are expected to support economic growth averaging 2.5 percent across the GCC next year, according to Moody’s Investors Services, while the credit agency predicts 2.7 percent real GDP growth for Sharjah in 2018. In Sharjah’s case, a wide range of achievements have helped it maintain stability in the face of regional economic uncertainties and position itself for future growth.

Sharjah’s…

Improving oil prices, narrowing deficits and continued public spending are expected to support economic growth averaging 2.5 percent across the GCC next year, according to Moody’s Investors Services, while the credit agency predicts 2.7 percent real GDP growth for Sharjah in 2018. In Sharjah’s case, a wide range of achievements have helped it maintain stability in the face of regional economic uncertainties and position itself for future growth.

Sharjah’s…

0 comments
12 Dec

Dubai: Saudi Arabia last week announced its largest-ever budget spending for the year 2018, reinforcing the country’s focus on economic growth while stabilising government finances through augmentation of revenue and continuing with fiscal reforms.

The kingdom’s 2018 budget shows that the government stepped-up spending in the fourth quarter of 2017, and that this somewhat looser fiscal stance will continue in 2018. Together with off-budget spending through the Public Investment Fund and the National Development Fund, the increase in government spending will support GDP growth in…

Dubai: Saudi Arabia last week announced its largest-ever budget spending for the year 2018, reinforcing the country’s focus on economic growth while stabilising government finances through augmentation of revenue and continuing with fiscal reforms.

The kingdom’s 2018 budget shows that the government stepped-up spending in the fourth quarter of 2017, and that this somewhat looser fiscal stance will continue in 2018. Together with off-budget spending through the Public Investment Fund and the National Development Fund, the increase in government spending will support GDP growth in…

0 comments
12 Dec

Iraq's Oil Ministry invited oil companies on December 24 to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey's Mediterranean port of Ceyhan.

The state-run Oil Projects Company said that the planned 350-kilometer oil pipeline will carry up to 1 million barrels a day.

A 305-kilometer gas pipeline to feed pumping stations, tanks, and other service installations will be included in the project, it added.

The ministry has set January 24 as a deadline for interested companies to submit their statements.

The new…

Iraq's Oil Ministry invited oil companies on December 24 to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey's Mediterranean port of Ceyhan.

The state-run Oil Projects Company said that the planned 350-kilometer oil pipeline will carry up to 1 million barrels a day.

A 305-kilometer gas pipeline to feed pumping stations, tanks, and other service installations will be included in the project, it added.

The ministry has set January 24 as a deadline for interested companies to submit their statements.

The new…

0 comments
12 Dec

Researchmoz added Most up-to-date research on “Halal Food Market in US Will Grow At A CAGR Of 3.48% Between 2017 – 2021 With Al-Safa Halal, American Halal Company and Crescent Foods” to its huge collection of research reports.

Halal is an Arabic term meaning permissible or lawful. While its opposite is called as haram that signifies unlawful or prohibited. Both the terms rule Muslims daily dietary living and other activities. It includes food, cosmetics, banking, clothing, travel, and more. In past few years, the term halal has grown to include a range of…

Researchmoz added Most up-to-date research on “Halal Food Market in US Will Grow At A CAGR Of 3.48% Between 2017 – 2021 With Al-Safa Halal, American Halal Company and Crescent Foods” to its huge collection of research reports.

Halal is an Arabic term meaning permissible or lawful. While its opposite is called as haram that signifies unlawful or prohibited. Both the terms rule Muslims daily dietary living and other activities. It includes food, cosmetics, banking, clothing, travel, and more. In past few years, the term halal has grown to include a range of…

0 comments
12 Dec

Malaysia, home of the world’s largest Islamic finance industry, is taking the idea of creating a comprehensive Islamic economy a step further and announced it will launch a debut “Islamic Digital Economy Framework” by March next year as a growth backbone for its entire halal industry.
The idea of the framework is to provide a digital platform for cooperation in areas such funding and financing of Islamic business endeavours, halal and Shariah compliance, Islamic digital economy regulations and, generally, the incubation of halal business operations, Including…

Malaysia, home of the world’s largest Islamic finance industry, is taking the idea of creating a comprehensive Islamic economy a step further and announced it will launch a debut “Islamic Digital Economy Framework” by March next year as a growth backbone for its entire halal industry.
The idea of the framework is to provide a digital platform for cooperation in areas such funding and financing of Islamic business endeavours, halal and Shariah compliance, Islamic digital economy regulations and, generally, the incubation of halal business operations, Including…

0 comments
12 Dec

THERE has been a 12 per cent increase in the number of companies registered in the sultanate in the third quarter of this year compared to the same period last year, following reforms in the country’s business infrastructure and improvements in the economic climate.

This was stated in Autoriti Monetari Brunei Darussalam’s (AMBD) latest policy statement revealed on December 22.

The tourism sector, under the services sector, also recorded encouraging growth, experiencing a 25.7 per cent increase in the second quarter (Q2) of 2017 compared to Q2 2016.

The policy…

THERE has been a 12 per cent increase in the number of companies registered in the sultanate in the third quarter of this year compared to the same period last year, following reforms in the country’s business infrastructure and improvements in the economic climate.

This was stated in Autoriti Monetari Brunei Darussalam’s (AMBD) latest policy statement revealed on December 22.

The tourism sector, under the services sector, also recorded encouraging growth, experiencing a 25.7 per cent increase in the second quarter (Q2) of 2017 compared to Q2 2016.

The policy…

0 comments
12 Dec

BAGHDAD—Iraq last Sunday invited companies to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey’s Mediterranean port of Ceyhan.

The new 350-kilometer (220-mile) pipeline will carry up to 1 million barrels a day, the state-run Oil Projects Company said. A 305-kilometer (190-mile) gas pipeline to feed pumping stations, tanks and other service installations will be included in the project, it said.

The new line will be built alongside an existing 1.6 million barrel-per-day pipeline, which runs through restive Sunni areas and…

BAGHDAD—Iraq last Sunday invited companies to submit statements of interest in building a new pipeline from the northern city of Kirkuk to Turkey’s Mediterranean port of Ceyhan.

The new 350-kilometer (220-mile) pipeline will carry up to 1 million barrels a day, the state-run Oil Projects Company said. A 305-kilometer (190-mile) gas pipeline to feed pumping stations, tanks and other service installations will be included in the project, it said.

The new line will be built alongside an existing 1.6 million barrel-per-day pipeline, which runs through restive Sunni areas and…

0 comments
11 Nov

THERE is a lack of synchronicity when it comes to the standards and procedures involved in issuing a halal certification, pointing to a disunity in acknowledging the numerous halal stamps across the region and globe.

Halal Industry Development Corporation (HDC) chief executive officer Datuk Seri Jamil Bidin said keeping up with all these standards from multinational certification bodies might be a major challenge but
the emphasis should be put on ways to further develop the industry.

“Different countries have different standards according to each of their own…

THERE is a lack of synchronicity when it comes to the standards and procedures involved in issuing a halal certification, pointing to a disunity in acknowledging the numerous halal stamps across the region and globe.

Halal Industry Development Corporation (HDC) chief executive officer Datuk Seri Jamil Bidin said keeping up with all these standards from multinational certification bodies might be a major challenge but
the emphasis should be put on ways to further develop the industry.

“Different countries have different standards according to each of their own…

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