In The Name Of God The Most Merciful, Most Compassionate

All Finance


Islamic finance has alot to offer today’s financial systems

By: Aneesa Bodiat Source: Quartz By 2030, more than a quarter of the world’s population will be Muslim. However, most conventional financiers do not offer financing arrangements that suit the particular restrictions that Muslims face when it comes to money, contracts, and finance. Islamic finance is based upon principles of ethics and transparency—which means that it holds plenty of appeal for borrowers regardless of their religious backgrounds. The smart move for lenders around the world, then, may be to offer Islamically compliant products that suit the needs of Muslims and non-Muslims alike. Importing principles of Islamic finance into the global economic market would strengthen the...

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Russia enters global Islamic finance and halal industries

By: Fatima Muhammad Source: Zawya The global Islamic finance industry, which is witnessing phenomenal growth rates with expansions in Europe and sukuk listings, will see a new entrant in Russia that hopes to cash in on the substantial Muslim population in the European country. They have already started the process of getting acclimatized with the Islamic finance industry by learning from the established model of the Islamic Development Bank (IDB), headquartered in Jeddah. “Russia is hoping to implement Islamic Finance systems in its banks,” said a member of the Russian delegation that was paying a visit to the IDB. He said, “Our principal goal is to get acquainted with the Islamic finance...

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Indonesia’s proposed ‘halal economic zone’ picks up momentum

By: Euan Black Source: Southeast Asia Globe As demand for halal products grows across the Islamic world, Indonesia has plans to establish a halal economic zone in Jakarta. The economic zone would likely include Islamic banks and financial institutions, as well as halal restaurants, hotels, malls, fashion boutiques and entertainment venues. The idea is gaining traction thanks to greater demand for halal products and services, according to Siwage Dharma Negara, assistant coordinator of the Institute of Southeast Asian Studies’ Indonesia Studies programme. “It’s gaining momentum now because of increasing demand and pressure from the community and from religious groups,” Negara said. “The...

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