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 …
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COVID-19 Pandemic & Localization Initiatives in GCC Countries
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 …
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Malaysia Urges Halal Firms To Go Digital
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 …
Islamic Fintech Startup Manzil Seeks Funds Via Crowdfunding
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 …
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What Is The Future Of The GCC Economies in The Post-COVID-19 Era?
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 …
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COVID-19 & Oil Price Collapse: A Double-Edged Sword For GCC
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 …
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COVID-19 To Impact GCC Sukuk Issuance In 2020
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 …
GCC Ministers Discuss Economic Impact Of COVID-19
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 …
Asian Economies To Suffer Heavily Due to COVID-19 Outbreak
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 …
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Indonesia Imposes Entry Ban on Foreigners, Makes Quarantine Compulsory for Returning Citizens
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 Ovid-19?
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. …
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Brunei To Help Maldives Establish Halal Science Lab
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 …
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