The Halal Times
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The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, will introduce Islamic banking products in Azerbaijan and lobby for changes in country’s banking legislation in order to incorporate Islamic banking. This will be realized in accordance with the Memorandum of Understanding (MOU) the …
The Iranian-Islamic traditional medicine emphatically gives prominence to each individual’s temperament – or to use the Persian equivalent ‘Mizaj’- as a determining and key factor in deciding one’s lifestyle. In the Iranian-Islamic traditional medicine the excess or less of warmness and humidity define four essential temperaments of “Warm and Wet (sanguine or Damawiy)”, “Warm and …
The first major step to implement much-needed reforms in the Iranian banking sector is to be taken by the government in summer when it submits the Banking Reform Bill to the Parliament, the governor of the Central Bank of Iran said. “It is predicted that the Banking Reform Bill will be sent to Majlis by …
Baku, Fineko/abc.az. On May 19, a business breakfast of Sberbank and KPMG on “Counterpart Financing: #NewReality” was held in Kazan within the framework of “Russia-Islamic World: KazanSummit 2017”. The moderators of the breakfast were Vugar Aliyev, Head of Financial Services at KPMG in Russia and the CIS, Managing Partner of KPMG in Azerbaijan, and Behnam …
TEHRAN – The 11th national exhibition on hijab and dignity is being held at Tehran’s Shahr-e Aftab Fairground. The event, which opened on May 3 and runs through May 13, follows the aim of making people acquainted with Iranian-Islamic products, Fars quoted Hamid Qobadi, the secretary of the working group on fashion and cloths as …
The government has instructed five ministries and Iran’s Cultural Heritage, Handicrafts and Tourism Organization to form a taskforce whose sole responsibility is to ensure Tabriz’s hospitality will live up to its status in 2018. In December 2015, tourism ministers of the Organization of Islamic Cooperation member states selected Tabriz as the capital of Islamic tourism …
TEHRAN – The deputy culture and tourism minister of the Republic of Azerbaijan has held talks with provincial authorities of East Azarbaijan in northwest Iran, laying out a roadmap for widening cooperation thanks to countless mutual commonalities, CHTN reported on Saturday. During his April 26-27 visit to Tabriz, the capital city of East Azarbaijan, Adalat …
According to a report by the Iranian Cultural Center in Kyrgyzstan, the Hijab, with all its beauties, has become common not only among women in religiously devout families but also those with secular views. A Hijab-wearing woman is no longer viewed in the Central Asian country as being rural and those who wear the Hijab …
TEHRAN, Apr. 09 (MNA) – On the sidelines of ISBF annual meetings in Kuala Lumpur, central banks of Iran and Malaysia agreed to bolster bilateral banking relations. The Islamic Financial Services Board (IFSB) Annual Meetings and Side Events 2017 was held in Kuala Lumpur, Malaysia on April 04-06, co-hosted by the Central Bank of the …
Now that most economic sanctions on Iran have been lifted, the international Islamic finance industry needs to brace itself for fundamental changes when the world’s largest Shariah-compliant banking system readies to enter the global financial stage. Iran, the only Muslim country besides Sudan where the entire financial industry is based on Shariah law, currently accounts …
Nov 16 Kazakhstan’s parliament has approved legislative amendments to facilitate Islamic finance, paving the way for Central Asia’s largest economy to issue its first sovereign sukuk next year, a government official said. The amendments, which still require the president’s signature, would also allow for the conversion of conventional banks into Islamic ones, said Yerlan Baidaulet, …
RAM Ratings has reaffirmed the AA2/Stable rating of the Development Bank of Kazakhstan Joint-Stock Company’s (DBK or the Bank) MYR 1.5 billion Sukuk Murabahah Programme (2012/2032). The rating reflects the credit strength of the Government of Kazakhstan (GOK, rated AA2(pi)/Stable/P1(pi)), given RAM Rating’s opinion of a very high likelihood of support in times of need. DBK, ultimately …
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 …
Indonesian teacher Nina Ramadhaniah hopes for “blessings from Allah” by opening a sharia bank account – the sort of pious customer the world’s most-populous Muslim-majority country is praying for as it launches an Islamic finance drive. Indonesia, Southeast Asia’s biggest economy, has a Muslim population of around 225 million but this huge number of faithful …
The 12th Sammit of the Islamic Financial Services Board (IFSB) will take place in Almaty from May 19 to 21, Tengrinews reports citing BNews.kz. It is the first time the IFSB Summit will be hosted by a post soviet country. The Summit facilitates dialogue between key players in the Islamic financial sphere. The current IFSB Summit …
The Islamic Financial Services Board (IFSB) is pleased to announce that the 12th Annual Summit will be held on 19 – 21 May 2015 in Almaty, Kazakhstan. The National Bank of Kazakhstan is hosting the twelfth edition of this annual landmark event for the IFSB, the first to be held in the Central Asia region. …
The National Bank of Kazakhstan, the central bank and financial services regulator of the Republic of Kazakhstan, has taken up membership in Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). The signing ceremony to commemorate the membership was held on Tuesday 2 Dec 2014 at the World Islamic Banking Conference 2014 in Manama, Kingdom …
A summit of the Council for Islamic Financial Services will be held in Almaty in 2015, Tengri news reports citing the Governor of the National Bank of Kazakhstan Kairat Kelimbetov as saying at the briefing in the Central Communication Service headquarters in Astana in October. “A summit of the Council for Islamic financial services will be held …
“The rating reflects the credit strength of the Government of Kazakhstan (GOK, rated AA2(pi)/Stable/P1(pi)), given our opinion of a very high likelihood of support in times of need. “Ultimately owned by the GOK, DBK plays a strategic role in facilitating the former’s goal of diversifying Kazakhstan’s economy away from the oil and gas sector. Reflecting …
The 4th Kazakhstan Conference on Islamic Finance took place this Wednesday in Kazakhstan. In his speech at the conference Governor of Kazakhstan’s National Bank Kairat Kelimbetov declared it was necessary for the Central Asian country to adjust its legislation to facilitate development of Islamic finance, Tengri news reports. He said that Kazakhstan’s central bank was …
KUALA LUMPUR: Kazakhstan’s Al Hilal Islamic Bank, the only Sharia-compliant lender in the country, may expand into neighbouring countries as legislative efforts to develop Islamic finance gather pace across the region, its chief executive said. Fresh Islamic finance legislation is being developed in Azerbaijan, Kyrgyzstan and Tajikistan, creating a more welcoming framework for the industry …
Kazakhstan’s Al Hilal Islamic Bank, the only sharia-compliant lender in the country, may expand into neighbouring countries as legislative efforts to develop Islamic finance gather pace across the region, its chief executive said. Fresh Islamic finance legislation is being developed in Azerbaijan, Kyrgyzstan and Tajikistan, creating a more welcoming framework for the industry in countries …
Consumer Rights Fight Against Fake-Halal Goods In Kazakhstan Consumer Rights Protection Agency continues battling with “fake”-halal goods, Tengrinewsreports. The Agency also questions whether the work of the Halal Industry Association of Kazakhstan has legal basis. According to the Agency, there are no regulations or legal acts governing issuance of halal standards compliance certificates in Kazakhstan. But the Halal Industry Association evaluates quality, determines eligibility …
Iran is the second-largest cosmetics market in the Middle East in terms of revenue, behind Saudi Arabia, and the world’s seventh biggest. Makeup is also a form of personal expression in a society where compulsory wearing of hijab requires women to cover their hair and their body in loose clothing when outside, regardless of their …
