The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
Russia’s first Islamic banking centre, operating under the principles of Southeast Asia and Middle East partnership funding, opened in Kazan on Thursday. At a time when Western funding is closed to Russia, it could now get more investment from Muslim countries. Read more “We are living through difficult times. Difficult economic circumstances force us to …
Grozny: Chechen leader Ramzan Kadyrov and representatives of UAE’s Mazkorp company Hilal Suhail Hilal Rashid Al Mazrouei and Wael Saab have reached an agreement to open an Islamic bank in the republic. Islamic banking implies banking operations in accordance with religious norms of Islam, In particular, interest on loans and financial speculations are banned. Opening …
Makhachkala, October 7, 2015. In Dagestan, the economic specialists study the possibility to establish an Islamic bank, where banking products and services will be provided in accordance with the rules of Sharia, a source in Dagestan ministry of economy informs. As it is reported, Dagestan minister of economy and regional development Rayudin Yussufov instructed to …
MOSCOW (JTA) — At Russia’s largest kosher food factory, owner Pinhas Slobodnik welcomes his Muslim workers with a greeting in Arabic that he pronounces in a thick Russian accent. Some 120 workers, most from the predominantly Muslim republics of Uzbekistan and Tajikistan, are employed at the factory — a sprawling complex built in 2009 in the …
Russia plans to open its first Islamic bank this year, seeking to attract Islamic finance funds as sanctions push the economy down. The State Duma, the lower house of parliament, may allow Islamic banking in the next two months through legislation, said Anatoly Aksakov, a deputy in the Duma and president of the Association of …
SYDNEY/MOSCOW — Russian banks are developing their expertise in Islamic finance to help broaden funding sources for local firms, though Western sanctions over the Ukraine crisis and the absence of a regulatory framework could hinder those efforts. Russia’s Islamic banking sector is still in its infancy. But an estimated 20 million Muslims living in the country are a potential source of money, as are cash-rich Islamic funds …
International Bank of Azerbaijan will issue sukuk in the second half of this year International Bank of Azerbaijan (IBA), the country’s largest and the only state-owned bank, plans to target the UAE and other Gulf investors as it plans to issue $200-$300 million debut Islamic bonds (sukuk) this year, its senior manager said. Behnam Gurbanzade, …
Yesterday on Dec. 29, Bloomberg reported that Russia wanted to control the harmful effects of the looming financial crisis it is facing by making “efforts to tap into Islamic finance as international sanctions, and a slump in oil prices have been pushing the world’s largest energy exporter to the brink of a recession.” Russia`s state-owned …
Bryansk Broiler, part of the Russian meat producer, Miratorg, is launching a line for production of halal chicken at its new production site in Bryansk Oblast, according to the representatives of the company. The new line will produce meat in strict accordance with the traditions and canons of Islam. Miratorg plans to supply first shipments …
The International Bank of Azerbaijan, the major state-owned bank holding at least 40 percent of all bank assets in the country, is determined to play an active role in the Islamic finance markets of the Persian Gulf and Russia. Director of the Islamic Banking Department of IBA Behnam Gurbanzade told Trend Agency that the bank …
Halal sector is unlikely to be hit by US and EU economic sanctions In the days of Ramadan 1435 and afterwards Russia has become a frequent player on the international political scene. Moreover, with economic consequences, given US and EU sanctions against Russia. Lets make a short overview on how those limitation impacted or can …
Leaving buzzing Al-Salam Street, one of the largest streets in Moscow, toward Vypolzov Lane, one starts to feel quietness and peacefulness, which is sometimes pierced by the soft sound of adhan. People there are used to hearing adhan from the grand mosque. This mosque was built in 1904 by the Muslim Tartar donor Saleh Yarzeen. Adjacent to …
