The Halal Times
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Google says that companies need to get media coverage in 2021 if they are serious about improving their brand. Google`s John Mueller, tweeted recently that digital PR is far better than technical SEO for sites. But, where do Halal brands stand these days as far as media coverage is concerned? The picture looks bleak as …
NAIROBI, KENYA – Although Islamic Banking is at an early stage, the faith-based lending model is becoming a growing trend in the Kenyan financial sector. It is showing indicators of exponential growth. The joint expansion of Islamic finance activities in the region and the huge Muslim population can be largely attributed to reforms in regulatory …
Is Islamic banking ready to embrace fintech? The short answer is yes. There are a lot of Islamic banks which are fast adapting to the fintech to streamline their operations. The long answer to this all-important question may not be as simple as different Islamic banks are operating at different phases of technological advancement. The …
Ethanol & Its Halal Status The word Khamr (alcoholic beverage), fermented fruits, was described in Quran 6 times; Alkhamr refers to the solution, which is produced from fruits or any natural sugar source by anaerobic fermentation and potentially could be used or lead to intoxication. The main ingredient of Alzheimer’s is ethanol, which is the …
Digitization of Islamic banks is a must for the growth of the Islamic finance industry. Although the industry is quite young, the fintech disruption is already changing the way Islamic banks are spending money on technology to transform the way they do business to attract Internet-savvy customers. However, most of these banks are still a …
Islamic Finance is booming around the globe. Currently, there are around 500 Islamic banks operating in 75 countries around the world. Islamic finance is growing at 10-15% per year with GCC Islamic banks constituting 70% of the global total. In fact, non-Muslim countries are also tapping into the growing Islamic finance market by issuing Sukuk …
DUBAI, UNITED ARAB EMIRATES/Reuters, 26 July 2016 – The second edition of the Innovation 4 Impact Competition will take center-stage at the Global Islamic Economy Summit 2016 (GIES 2016) to be held under the theme ‘Inspiring Change’, at the Madinat Jumeirah in Dubai, from October 11-12. Islamic digital economy entrepreneurs from around the world will …
Dubai: The past is no guarantee for the future — so we have to prepare ourselves for the unprecedented and the unexpected. Islamic finance needs to be relevant and respond to its external operating environment. Some paradigms are shifting before us, which we need to understand and be prepared for as practitioners, institutions, and jurisdictions. …
The word Hijab has gained popularity in the international media lately. It seems to symbolize the Muslim women covering their heads. However, it is not just one form of Islamic headwear Muslim women use to cover their heads. There are some other Islamic headwear coverings as well being used by Muslim women all over the …
There is no doubt that Islamic finance is growing around the world. Sector expert Camille Paldi says Islamic finance is booming, but it needs proper regulatory, reporting, and resolution framework and tailored standards to continue its rapid expansion. There are currently around 500 Islamic banks operating in 75 countries around the world and Islamic finance …
London: Islamic banking and finance (IBF) are swiftly growing in countries outside the Organisation of Islamic Cooperation (OIC) block, especially in the United Kingdom that houses six full-fledged Islamic banks (one retail and five wholesale), making it the most important center of Islamic finance and Islamic wealth outside the Muslim world. The global Islamic financial …
As more Western companies do business in the Middle East, Islamic finance has become an increasingly important part of the global economy. But Islamic finance follows different rules than conventional Western economies, in keeping with sharia, the Islamic legal system. Demand for sharia-compliant banks is growing rapidly, with Ernst & Young projecting an annual growth …
LONDON: Many industry observers assert that all Islamic banks’ products in essence are replicas of conventional banking products, be the Islamic deposits or financing products based on leasing or trade-based contracts. A replica, however, by its very nature and definition is inferior to the original and should sell for a significantly lower price. Islamic banks’ products …
A decision by DBS Bank to wind down a joint venture with Gulf investors is more than a setback for Singapore’s biggest lender – it’s a sign that tougher times lie ahead for Islamic finance worldwide and core markets. The industry grew at double-digit annual rates for much of the past decade, faster than conventional …
A couple of days ago, I was shocked to know that the International Bank of Azerbaijan (IBA), the Central Asian country`s largest and only state-owned bank, had closed its Islamic banking department. What a great misread on its part! Though the bank did not cite any specific reasons to close the Islamic finance window, it …
Speaking at a conference in Singapore, Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore listed a number of key trends which can help boost cross-border Islamic finance trade between Asia and the Middle East. Ms. Loh commented on the global Islamic finance industry being on an upward growth trajectory in the past …
Islamic Finance Should Fund Sustainable Development and offer a promising alternative to traditional sources of funding and should be utilized to realize that Islamic Finance Should Fund Sustainable Development Goals (SDGs) that countries will adopt in September, participants at the Third International Conference on Financing for Development were told. “In mobilizing resources for the SDGs, …
With an estimated value of $500 billion by 2019, the Islamic and modest fashion market simply cannot be ignored. Its influence across the globe is growing year on year, with countless blogs, clothing and jewelry lines, and events attracting huge swathes of the world’s 1.6 billion Muslims. On its own it is impressive, but the …
Islamic financing has received a wide response across the world. Generally meant for Muslim-majority counties, it is also flourishing in many non-Muslim countries regarding Halal food. London is now considered one of the three major global hubs for Islamic financing. The two others are Dubai and Kuala Lumpur. The United Kingdom is the first country …
DUBAI- Dubai has overtaken other financial centers in listing Islamic bonds on its exchanges, and is mounting a global drive to attract more listings while developing new channels to trade Sukuk, the chief executive of Nasdaq Dubai said. “Demand for Islamic financial products still exceeds supply — there are very few financial products for which …
Even though it remains a small share of the global financial system as a development challenge, the Islamic finance industry has expanded rapidly, with annual growth rates of 10 to 15 percent over the past decade. And today, Shariah-compliant financial assets are estimated to be close to the U.S. $2 trillion, compared to the roughly …
The author of this blog post and President of the Japan Institute Of Islamic Finance (JIIF), H. Maqsood Ahmed, recently got a chance to go through an amazing article by Dr. M. Umer Chapra, on the rationale behind the prohibition of interest rates from our banking systems altogether. In the wake of the present financial crises, …
As we mentioned in one of our previous articles on this website, the Islamic banking & finance industry is facing a huge shortage of experts who could get the ball rolling, the problem is becoming acute with every passing day. We need scholars who know both worlds in the best way possible. On the one …
In 2014, global Islamic financial assets reached an all-time high of $2 trillion marks as expected by the industry pundits earlier. With the completion of the phase of creating a niche for itself, Islamic finance is now set to reach new horizons. A lot of work has been done in giving Islamic banking & finance …
