In The Name Of God The Most Merciful, Most Compassionate

All Finance

Oct21

Emerging economies turning to gold as financial system crash expected

By: RT Source: RT Countries around the world are turning to gold as uncertainty about the global economy rises. Trade wars and the aggressive policies of the United States are making emerging economies withdraw from dollar assets, analysts told RT. In the near future we can witness a big change in the rules of the game. At the beginning of the year, developing countries were the first to feel investor panic. If a crisis in Latin America and South Asia doesn’t surprise anybody, now is the time to worry about the largest economies of the world,” Mikhail Mashchenko, an analyst at the social network for investors eToro in Russia and CIS told RT. “The aggressive US policy in recent years has...

Read More
Oct02

Tawarruq: How Islamic is it?

By: Ethica Institute of Islamic Finance Source: Ethica Institute of Islamic Finance You walk into the Islamic bank, sign some papers, “trade” in metal in some corner of the globe, and walk out with cash. Papers are pushed, money changes hands, and the metal just sits there, ready for the next customer to “trade” a few minutes later. Or can the same metal be bought and sold by different customers in the same minute? Who’s counting anyway? Welcome to the world of Tawarruq. Ethica Institute of Islamic Finance, one of the industry’s leading training and certification institutes, distributed a fatwa (expert legal opinion) to its community from one of its scholars, Mufti Ismail Desai, explaining...

Read More
Aug05

Striving to earn the halal

By: Khalid Baig Source: Al Balagh According to Abdullah ibn Masud (may Allah be pleased with him) The Prophet Muhammad (Allah bless him and grant him peace) said: “Seeking halal earning is a duty after the duty.” In other words, working to earn a halal living is itself a religious obligation second in importance to the primary religious obligations like prayers, fasting and hajj. This brief hadith contains three very important messages. First, it points to the Islamic way out of the apparent dichotomy between the material and the spiritual worlds. We often see them working in opposite directions whereby indulgence in the material world does lead one away from the spiritual...

Read More