In The Name Of God The Most Merciful, Most Compassionate

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What’s behind the rise of Islamic fashion

By: Alberto Mucci Source: Al-Jazeera Anas Silwood moved to Jordan from Britain to study Arabic back in 2000. The 20-something was supposed to stay for only a few months, but he soon decided Amman was the place he wanted to be. He learned Arabic, converted to Islam and settled. “Every time I went back to the UK I had the same problem,” he says. “People looked at me in a funny way because of what I was wearing. It happened over and over again, and that’s how I realized there must be a lot of Muslims in need of better-designed and better-made clothing.”  Silwood’s intuition quickly developed into a business. In 2002 he launched Shukr, one of the first...

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How ethical are Islamic banks?

By: VOA News Source: VOA News A stream of major bank scandals has increased interest in “ethical finance,” which could benefit the Islamic banking sector. Supporters argue the growing area of Islamic finance is more ethical because banks and businesses must undergo scrutiny to make sure they’re sharia-compliant. “We have a very sweet spot, when conventional banking at the moment is suffering from scandals,” Raja Mohamad, secretary of the Gulf Asia Sharia Compliant Investment Association, said at a conference on Islamic finance in Singapore. ‘Selling accountability’ “We’re not selling Islam here. We’re selling accountability — transparent, real economic activity.”...

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Markets turning to Islamic Finance in search of alternatives

By: Siddesh Suresh Mayenkar Source: Kuala Lumpur: Islamic financing is gaining traction even among non-Muslim countries in a bid to use sustainable and equitable form of alternative models, the Malaysian Prime Minister said on Tuesday. London issued its second Islamic sukuk after its first bond issue was oversubscribed 14 times. In addition to London, Luxembourg and South Africa, Hong Kong has also issued sovereign sukuks. “Ever since the global financial crisis in 2007-08 there has been a sharp demand for alternative economic and business model that reduces the level of speculation as conventional model that has inherent weakness,” Najib Razak told journalists....

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