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Islam, being a complete code of life, lays down a comprehensive set of rules and socio-economic principles for the welfare of human beings in this life and the world hereafter. Some of these religious obligations such as Hajj have far-reaching impacts on the lives of millions of people around the world. The Islamic economic system …
How does The Hajj Impact Economies Around The Globe?Read More
Recently, K-Electric, the main electricity supplier in Karachi, Pakistan issued Sukuk (Islamic bonds) to finance its increasing demand for electricity for the megacity. The following article originally published on www.samaa.tv discusses its profit-sharing initiative in detail. You can buy K-Electric’s Islamic bond (Sukuk) with a minimum investment of Rs5,000 and earn a tentative profit of …
Dubai is increasingly becoming an important center of global trade. It is evident from the external trade statistics released by Dubai Customs earlier this week. Gulf Today has a detailed report on this issue in the following lines. Dubai Customs announced on Monday that the emirate’s external food trade volumes in the first half of …
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has partnered with the Dubai Islamic Economy Development Centre (DIEDC) to boost UAE exports through sharia-compliant export credit solutions. The agreement is in line with the vision and directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the …
UAE To Boost Halal Exports To Strengthen Islamic EconomyRead More
KUALA LUMPUR: Malaysian government has urged small and medium enterprises (SMEs) in the halal sector to go digital to get more business from overseas markets. Prof Dr. Suhaimi Ab Rahman, deputy dean of Universiti Putra Malaysia’s (UPM) Economics and Management Faculty (Research, Industrial Network, and Society), said the SMEs need to be proficient in the …
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
