Global Halal, Islamic Finance News At Your Fingertips
The Middle East has been the most volatile region in the world for the past seven decades since Israel was established in 1948. The past two months have seen two major shocks for the region – the COVID-19 pandemic and the sharp oil price meltdown. There are several other problems as well which have rattled …
What Is The Future Of The GCC Economies in The Post-COVID-19 Era?Read More
GCC countries may face a deep recession, Japan`s Mitsubishi UFJ Financial Group reported on Monday. The bank expects the GCC economies` GDP to shrink by 3.7% this year. The forecast was based on the recent oil output cuts, the on-going impact of COVID-19 pandemic, and the stimulus packages provided by various GCC economies recently. The …
Remittances are expected to plunge by about 20% due to the economic crisis induced by the COVID-19 pandemic. Global economic slowdown due to Covid-19 and the recent oil price drop will reduce remittance outflows from GCC countries, World Bank said. Money outflows from GCC to South Asia are projected to decline by 22% to $109bn …
Remittance Flows To Plunge Due to COVID-19, Oil Price DropRead More
Jakarta. The Indonesian government will temporarily ban all foreign visitors from entering the country and oblige all its citizens returning from other countries to undergo a two-week quarantine to stop imported cases of COVID-19, officials said on Tuesday. “The president has instructed that the existing policies [on COVID-19 outbreak] need to be strengthened, so it was …
In Malaysia, where annual economic growth has averaged just under 5 percent over the past five years, fintech is a part of everyday life. It is rapidly becoming a central part of the country’s financial sector, with considerable promise for expansion, according to new IMF analysis. With its growing middle class, high mobile phone penetration rates, and strong government …
Malaysian Financial Sector has considerable Promise for ExpansionRead More
Let us face it. The last couple of decades have witnessed China becoming an economic superpower and supplying almost everything we consume on a daily basis. However, the Covid-19 virus outbreak may change the scenario altogether. According to The Economist, “an emotional decoupling is underway” We, as marketers, halal industry and Islamic finance professionals, have …
Covid-19 Outbreak & Its Implications On The Global Supply Chain SystemRead More
PETALING JAYA: The Halal Development Corporation Bhd (HDC) plans to promote up to 700 Malaysian professionals in the international market to meet the strong demand for talents with experience in the halal sector. CEO Hairol Ariffein Sahari said the talents will be needed for the companies’ halal operations as well as the exchange of technologies …
HDC To Promote Malaysian Talents For Global Halal IndustryRead More
Saudi Arabia’s economy shrank 0.5% in the third quarter, a contraction that was broadly expected even as the kingdom’s goal of weaning itself off crude began to pay off with solid growth in non-oil sectors. The overall economy was weighed down by shrinkage of 6.4% in the country’s oil sector, according to data released Tuesday …
Saudi Plan to Wean Off Oil Sees Success Even as Economy StallsRead More
The ninth International Economic Summit between Russia and Organisation of Islamic Cooperation (OIC) member countries started on Friday in Kazan, Tatarstan, with the UAE represented by a senior delegation chaired by Dr Rashid bin Ahmed bin Fahad, Minister of State. The summit, which concludes today, began with a session entitled ‘Halal Industry’, which addressed the …
Halal Sector Key Topic at International Economic SummitRead More
The way Muslims do business is based on free-market economics, but it provides a far more equitable and sustainable economic model than the dog-eat-dog world of Western capitalism. This was a strong underlying message to come out of a recent conference on Islamic banking in Sandton. Islamic finance, which is governed by shariah (Islamic law), …
Turkey and Indonesia are working on a lender project that will operate in compliance with Islamic law. Though talks are ongoing, the project titled “megabank” is expected to contribute to Turkey’s aim to expand the share of participation banking in the Turkish financial sector. Deputy Prime Minister Mehmet Şimşek, who held a meeting with the …
Megabank Project to Support Turkey’s Aim to Increase Share in Participation BankingRead More
Professor Binta Tijani Jibril is the Director of International Institute of Islamic Banking and Finance, Bayero University, Kano State. The head of the lone university-based Islamic banking institute in West Africa told CHIJIOKE NELSON in this interview that the model is business, ethical, not religion and about sweeping global economies with its appealing concepts. Why …
Islamic Finance Not Just For Muslims, But For EveryoneRead More
