The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
KUALA LUMPUR: Halal Development Corp (HDC) expects 6,000 participants for its 12th World Halal Conference (WHC) this year, as interested parties will be able to attend the conference both physically and virtually. HDC chief executive officer Hairol Ariffein Sahari said the conference would be held for the first time in a hybrid manner. WHC has …
COVID-19 coronavirus is here to stay. This is a painful fact none of us can ignore anymore. Central banks around the world have been using various mixes of fiscal and monetary policies to contain the harmful effects of the pandemic. As the pandemic is expected to last much longer than we could have anticipated, governments …
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 …
Manzil, a Toronto-based Islamic FinTech startup that offers shariah-compliant financial solutions for mortgage purposes, is offering the public a chance to own a share of the company through a private placement on the crowdfunding platform FrontFundr. Manzil says it has created financial products designed to be participatory, rather than predatory. The startup said the opening …
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 …
COVID-19 and oil price collapse are proving a double-edged sword to the Gulf Cooperation Council (GCC) countries. The World Bank recommends these countries to prioritize their focus on handling the COVID-19 virus pandemic and the impending recession resulting from the virus and a sharp decline in the oil price. A recent study done by The …
Global Islamic bond issuance is set to remain stable at around $180 billion Dubai: Islamic finance is set to keep expanding in 2020 and beyond as the GCC countries and Malaysia help drive growth in Shariah-compliant financial products, however, there are downside risks from the coronavirus (COVID-19) outbreak, according to rating agency Moody’s. “We expect …
RIYADH: Commerce ministers of the Gulf Cooperation Council (GCC) held a virtual meeting to discuss the economic impact of the coronavirus disease (COVID-19) outbreak in the region. Overseeing the provision and smooth flow of essential basic commodities to citizens of their countries was highlighted as one of the key roles of the respective ministries. The …
WASHINGTON- The World Bank is estimating that the coronavirus outbreak will cause economic growth to slow significantly this year in China and other East Asian-Pacific countries, throwing millions into poverty. Under a worst-case scenario, the region could suffer its sharpest downturn since a devastating currency crisis more than two decades ago, the bank said in …
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 …
Is Malaysia ready to handle the economic fallout from COVID-19? The country has been facing this seemingly unsurmountable challenge along with other world economies due to the coronavirus pandemic. Can it also save the Islamic economy ecosystem it has developed over the past three decades? The following is an analysis recently published on the www.thestar.com.my. …
Minister of Foreign Affairs of Maldives, Abdulla Shahid Minister on Saturday requested Brunei to help establish a halal science laboratory in the Maldives. The minister requested a meeting with his Bruneian counterpart, Dato Seri Setia Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd Yusof, during his ongoing official visit to the country. During the …
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 …
With a fast-growing Islamic finance industry, Doha has all the potential to emerge as the ‘Capital of Islamic Finance”, industry experts stated yesterday. ”Doha is the most qualified financial center to transform into the world capital of Islamic finance, based on a package of indicators, the most prominent of which is the rapid growth of …
Investments from Qatar could play a key role in the Philippines’ bid to become Asia’s halal hub, DTI-Trade Promotions Group (TPG) Undersecretary Abdulgani M Macatoman said Sunday. Citing the need for more halal processing facilities in the Philippines, Macatoman said the country could benefit from Qatari investments and expertise, as well as in knowledge …
ISLAMABAD, APP: Pakistan Halal Authority (PHA) will start operating soon in Islamabad, Pakistanederal capital after the completion of the recruitment process of the initial staff to promote Halal products within the country and abroad. “The recruitment process of 50 member staff out of total required 200 is under-process after which the authority will be fully …
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 …
KUALA LUMPUR (June 20): Bursa Malaysia Bhd has added Inter-Pacific Securities Sdn Bhd to the bourse operator and regulator’s Islamic participating organisations list to further grow the Islamic capital market. Bursa Malaysia said in a statement today that Islamic stockbroking services played an important role, under which clients’ funds were placed in Shariah-compliant accounts. “With …
JEDDAH — THE Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group signed three a Memorandum of Understanding in quick succession to strengthen collaboration. The first one was with the City Bank, Bangladesh in order to boost cooperation for fostering private sector development in …
With food accounting for nearly two-thirds of business in the global halal economy, there has been a flurry of new product activity in Asia-Pacific. According to market intelligence agency Mintel, 13% of all product launches in the region have carried the “halal” claim since 2012, with Indonesia, Malaysia, and Thailand the top destinations in this …
Web Desk) – Located in Bahria Town Lahore, the Grand Jamia Mosque is truly an architectural masterpiece. With a capacity to hold 70,000 visitors, the Grand Jamia Mosque is Pakistan s third largest and the world s seven largest mosque. Possessing four minarets that are 165 feet high, one big dome 40 feet in height and 20 …
Islamic banks, referred to as ‘participation banks’ in Morocco, are likely to provide a modest stimulus to deposit growth in the country, Fitch Ratings says. Morocco’s central bank granted its first licences to Islamic banks last week. Our discussions with Fitch-rated banks indicate that the ability to offer Islamic banking products could expand their deposit …
Bishop David Oginde’s opinion piece “Why expansion of Sharia laws remains perturbing” published in the Sunday Standard last weekend gave the impression that some proposed reforms in the Finance Bill 2017 portend danger simply because they touch on Islamic financial products. Bishop Oginde was clever in his approach but his message was loud and clear; Reforms to …
CONVENTIONAL banks aside, there is a push by industry players for mergers and acquisitions (M&A) to take place in the crowded Islamic banking as well as the non-bank lender space. There are 16 Islamic banks in Malaysia. Two are full-fledged standalone banks: Bank Islam (M) Bhd and Bank Muamalat Malaysia Bhd. Eight more are subsidiaries …
