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Tunisia: Official says Islamic finance can save the economy

By: MEMO Source: MEMO The Governor of Tunisia’s Central Bank, Chedly Ayari, said on Monday that his country needs to come up with $1 billion in the form of Islamic finance bonds — sukuk — in order to rescue the economy. Ayari made his comments on the fringe of a meeting about Islamic finance in the service of employment. “Tunisia needs Islamic sukuk that make money for economic growth,” he added. Islamic banking, said the governor, will have a big future in Tunisia after passing the psychological barrier of people understanding Islamic bonds. “The Tunisian banks complain about the lack of long-term funds, and Islamic sukuk open-up this area,” he explained. “We are trying to bring in...

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Young entrepreneurs outpace big brands in responding to Muslim markets

By: Tiffany Fumiko Tay Source: The Straits Times The lack of female-only salons for Muslim women who wear headscarves prompted Ms Nurashikin Jasni to open her own in 2014. But the former TV personality, who goes by the name of Nura J, is quick to dispel the notion that “us hijab-wearing ladies are conservative and our needs are basic”. Her salon Pearlista caters to both function and fashion at its two outlets in Eunos and Clementi; “funky” hair colours, chic pixie cuts and shaved sides are some of the requests that customers have made. Ms Nura, 34, also developed a shampoo line to combat common issues that women who wear hijabs face, such as itchy scalp and...

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Malaysia: Halal industry vital to becoming a developed nation by 2020

By: Izham Shah Datuk Arif Shah Source: MalayMailOnline KUALA LUMPUR, Nov 3 — Malaysia is in the final round of its sprint to become a developed nation by 2020. As we are reaching that defining moment, there are more challenges that we will be facing which requires proactive measures by both the government and the private sector. The Malaysian government has developed and created policies and action plans towards achieving Vision 2020. The New Economic Model (NEM), Halal Industry Master Plan (HIMP) among others are examples of the blueprints and action plans launched by the Malaysian government in achieving the goal of becoming a developed nation. The halal industry is increasingly becoming...

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