The Halal Times
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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 …
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 …
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 …
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 …
The state of Qatar ranks ninth this year on the annually published Islamic Finance Country Index, showing considerable strength of its Islamic finance industry. The index, part of the Global Islamic Finance Report 2017 compiled by London-based Islamic finance consultant firm Edbiz Consulting, is the oldest and most respected index ranking different countries with regards …
The Chilean architectural practice Elemental has won the competition to convert a former flour mill on the coast of Doha Bay, known as the Art Mill, into a vast new gallery for Qatar Museums. The Santiago-based company beat off eight other finalists to design the new space, which is located east of the Museum of …
International Bank of Qatar (IBQ) announced that the bank will be sponsoring the ‘Bonds, Loans & Sukuk Middle East 2017’, the region’s largest finance and investment conference in Dubai this week. IBQ will have a strong presence onsite with an exhibition booth, showcasing its corporate banking and treasury products and services. Muhannad Kamal, deputy chief …
Qatar First Bank (QFB), a leading Shari’ah compliant bank based in Qatar, has announced several key appointments in the senior management level in the institution. The selections come in line with QFB’s acting chief executive officer Khalid Al Khoori’s new human resources strategy to promote and attract Qatari talents. The bank is keen to build …
In 2004, Richmond held its first major international conference on Islamic Art. Since then, the conference has been held in Qatar, Spain and Italy. Next fall, it will be returning to Richmond’s Virginia Museum of Fine Arts on Nov. 2 through Nov. 4. “Islamic Art: Past, Present and Future” is sponsored by Virginia Commonwealth University …
A new exhibition – Contemporary Calligraphy – Mehmet اebi Collection, will open at the QM Gallery Al Riwaq this month, and will bring together a notable selection of intricate and beautiful calligraphic artworks dating from the 1960’s to the present day. The exhibition, which will run from May 15 till June 17, 2017, will …
Qatar Islamic Bank (QIB) has received the ‘Product Innovation Award’ under the Islamic Finance category from Global Finance for the bank’s efforts in introducing innovative Shariah-compliant products, including long-term deposits with flexible profit payment options. The long-term deposits with flexible profit payment options and higher expected yields allows customers to choose how they want to …
The Philippines is expecting a 15 to 20 percent increase in the number of Qatari visitors this year while setting a target of seven to eight million international visitors for 2017, an official from the Philippine Department of Tourism (DOT) has said. “For this year, we are targeting a low of seven million and a …
Global Muslim Travel Index 2017 shows Qatar is one of top 10 Muslim-friendly tourist destinations among 48 OIC member countries included in the survey. The report released by Mastercard-CrescentRating has ranked as many as 130 destinations including 48 OIC destinations and 82 non-OIC destinations. Qatar secured 70.5 scores in the criteria set to choose Muslim …
The Peninsula This year, 61 Qatari students graduate from Hamad Bin Khalifa University (HBKU)’s postgraduate degree programmes and as the country continues to experience rapid economic growth, the institution believes that training Qatari nationals to take up professional roles in various sectors of the economy is crucial in maintaining this momentum. Increasingly relying on its …
The size of the Shariah-compliant banking and financial market, which has grown to nearly $2 trillion, has great untapped growth potential, as a significant number of Muslim population still do not have access to interest-free financing services, noted a top official of Qatar Financial Centre (QFC) Authority at an event. Dr Haitham Al Salama (pictured), …
Islamic finance, which has enjoyed double-digit growth rates over the past decade with total assets reaching $2tn globally, offers a big growth potential in view of Muslim population’s low access to financial services, according to a top official of the Qatar Financial Center (QFC). “The world’s Muslim population of around 1.6bn has low access to …
The Republic of Uganda, which is working aggressively to attract Qatari investors to all sectors of its booming economy, is ready to welcome Islamic banking and financial service providers from Qatar “with open arms”, said the Finance Minister of the East African nation. “The Islamic banking and financial services have one big attraction to us—interest-free …
The agreement was signed at QIB’s headquarters, by Tarek Youssef Fawzi, QIB’s General Manager – Wholesale Banking Group and In-Hwan CHO, Daewoo E&C’s Head of Finance. The financing agreement will support Daewoo’s current projects in the State of Qatar including the construction and upgrading of the E-Ring Road. This project will expand the number of …
Qatari banks Masraf Al Rayan QSC, Barwa Bank QSC and International Bank of Qatar QSC are in talks on a three-way merger as consolidation accelerates across the Middle East’s banking industry. The potential combination would create the largest sharia-compliant bank in Qatar and the third largest such lender in the Middle East, with assets worth …
The Middle East and Africa region is more focused than ever on developing its hospitality infrastructure with 538 hotels totaling 151,771 rooms under contract in the ME and 321 hotels totaling 62,194 rooms under contract in Africa, said a report. Makkah, Saudi Arabia, reported the largest number of rooms under construction with 21,068 rooms in …
Dubai: The banking industry in the GCC is facing huge challenges in meeting the customer expectations in digital experience and delivering banking service over smart phones, according to the EY GCC Digital Banking Report 2015. “Although many GCC countries like the UAE have some of the highest smart phone penetration in the world, our study …
DOHA: The eighth Heya Arabian Fashion Exhibition opened yesterday with 260 designers from around the world showcasing latest creations in the new Doha Exhibition and Convention Centre. Visitors to the week-long event can select from designs of abayas, jalabiyas, kaftans, shaylas and evening gowns displayed at 273 boutique stands on 10,000sqm exhibition space. Fifteen designers …
Doha: The Gulf Cooperation Council (GCC) countries are set to play a more crucial role in the fast-growing halal market in coming years, according to a report by the International Trade Centre. The halal food and beverage market, spread across various countries and cultures, was estimated to be around $1.37 trillion at the end of …
Doha: Qatar Islamic Bank priced a highly successful USD 750 million 5-year RegS only Sukuk offering. The Sukuk was issued at par with a profit rate of 2.754%, representing a spread of 135bps over 5-year mid-swaps. The Sukuk came on the back of comprehensive set of global investor meetings conducted in Singapore, UAE and London. …
