The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
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 …
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 …
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 …
Karachi:- A report jointly published by the Islamic Development Bank (IDB) Group and the World Bank Group has outlined the potential of Islamic finance in curbing income inequality and ending poverty worldwide. The report, subtitled “Islamic Finance: A Catalyst for Shared Prosperity?”, was unveiled on Monday by IDB Group President Dr Bandar Hajjar at a …
LAHORE: De-regulation of meat prices in the local market is a prerequisite to improve the product’s supply in the country and to increase the country’s share in the $1.3 billion global Halal food trade, said a study. “The first and fundamental step for increasing meat export is to de-cap price in the local market,” the …
KUALA LUMPUR: Conglomerate Sime Darby Bhd has received bondholders’ approval to restructure its US$800 million sukuk, a milestone in the group’s proposed debt reorganisation, which forms part of its plan to create three independent listed companies. US$400 million of the sukuk mature in 2018 and an equal amount in 2023. Sukuk holders approved the company’s …
KARACHI: The government is looking to raise as much as Rs150 billion by issuing fresh Ijara Sukuk in the domestic market in July 2017 to help finance its growing budget deficit, industry officials said on Tuesday. The planned 18th Ijara Sukuk could be issued against the assets of M1 motorway Peshawar-Islamabad and M3 Pindi Bhattian …
KARACHI (Daily Dunya) – A recent study by the Karachi Chamber of Commerce and Industry states that Pakistan’s meat industry is growing at an annual rate of 27pc. In 2003, the trade volume of halal food was $14 million which had piled up to $244 million in 2015 with 708,968 tons of meat exported. The …
LAHORE: Halal food can take the country’s exports to new heights, but the government continues to ignore it. Halal food, particularly beef and meat is another potential where Pakistan enjoys a huge advantage. The global trade of halal food has exceeded $300 billion. Halal beef, mutton, and chicken markets are dominated by non-Muslim economies, as …
By 2018, the halal food trade market will soar beyond $1.6 trillion. Halal products beyond food such as cosmetics and pharmaceuticals nearly double this trade figure. Every study on the halal product trade potential of Pakistan places it among the top five Muslim countries. The abysmal reality on the ground is just another matter, …
Muhammad Zubair assured that federal government will provide every possible assistance in removing hurdles in way of Islamic banking. Sindh Governor Muhammad Zubair says Islamic banking sector in the country is progressing at fast pace. He was addressing the sixth International Finance Expo and Conference in Karachi today. Muhammad Zubair assured that federal government will …
Agrani Bank Limited, a leading state-owned commercial bank with 935 outlets throughout Bangladesh, recently inaugurated the implementation of web-based “Ababil” Islamic Core Banking Solution developed by Millennium Information Solution Ltd. (MISL). “Ababil”, a completely centralised end-to-end Islamic Shariah based core banking solutionwith Trade Finance and Treasury modules, is integrated with the major delivery channels to …
ISLAMIC banking has gained increased global prominence both among theocratic countries and non-Islamic countries since 1975 after being endorsed and established by the Organisation of the Islamic Conference (OIC). It forms part of the broader and comprehensive Islamic financial systems that encompass insurance companies takaful, leasing companies, commodity trading organisations as well as equity funds. …
A panel of experts today said that Islamic banking has huge scope in Jammu and Kashmir and it is the way forward for the state’s development, as the alternative banking will not only bring financial inclusion but provide equity based and interest less finances for businesses, institution building and entrepreneurs. The experts were speaking at …
The Sixth Islamic Finance Expo & Conference (IFEC-2017) will be held on 27th of April 2017 at Marriott Hotel, Karachi, under the theme of “Transforming Strategies to Revitalize Growth: Forging the Next Phase of Progress for Islamic Finance in the Region”. Islamic Finance Expo and Conference 2017 will showcase all the industry players with their products and services to …
(MENAFN – #Bangladesh Monitor) Dhaka : Speakers at a seminar on “Emergence of Halal Tourism: How #Bangladesh can benefit” at Pan Pacific Sonargaon on April 1, held on the sidelines of US-Bangla Travel Mart-2017 suggested that #Bangladesh tap this fast emerging tourism segment by marketing itself as a Muslim-friendly destination. The term “Muslim friendly” is …
Dr. Karim Ullah, from IMSceinces Peshawar and Dr. Wafi Al-Karaghouli, from Brunel University London, co-authored a new book on Understanding Islamic Financial Services. The Book is published by KoganPage in New York, London, and New Delhi. Islamic finance is growing globally and requires new theoretical and practical insights. This groundbreaking book, alongside basic concepts, principles, …
Meezan Bank and Pakistan Institute of Management (PIM), the pioneer of executive development in Pakistan have recently signed an MoU for joint association in Islamic banking education and training. Irfan Siddiqui, President & CEO Meezan Bank and Abid Hussain, Executive Director Pakistan Institute of Management, jointly signed the agreement at Meezan Bank’s Head Office, Karachi. …
PESHAWAR: The Khyber Pakhtunkhwa government and a group of Malaysian investors on Tuesday signed three memorandums of understandings (MoUs) to bring multi-billion rupees investment to the province. The MoUs signing ceremony took place at Chief Minister’s House. It was attended by former prime minister of Malaysia Abdullah Ahmad Badawi, who led the group of investors, …
The Federal Board of Revenue (FBR) has proposed Shariah-compliant criteria for companies whose shares are traded on a stock exchange to avail the reduced rate of tax under Income Tax Ordinance 2001. According to the SRO.1173(I)/2016 issued by the FBR, the Board has proposed amendments to the Income Tax Rules, 2002. To avail reduced rate …
(MENAFN – Gulf Times) A few months ago, the path seemed to have been cleared for the introduction of Islamic finance in India after the country’s central bank made a proposal to launch Islamic banking windows at conventional banks. This would have had two crucial effects: Firstly, greater financial inclusion of unbanked Indians, not necessarily …
Pakistan is stepping up its use of sharia-compliant financing to fund infrastructure deals, which could help to promote the use of longer-term transactions in Islamic finance. Islamic deals are backed by specific assets, which makes them convenient for infrastructure projects. But traditionally, Islamic bonds and loans have shorter tenors – often around five years – …
DUBAI: Pakistan’s government will guarantee Rs100 billion ($955 million) worth of Islamic bonds to fund what would become the country’s fourth largest hydropower plant, aiming to address power shortages that have hindered economic growth. The deal would be one of largest infrastructure sukuk sold to date, helping expand a funding format that has largely been …
Karachi—Standard Chartered Saadiq, the dedicated Islamic Banking division within Standard Chartered Bank has enhanced its offering for clients looking for Shariah-compliant banking products and services in Pakistan. The enhanced offering aims to provide clients with innovative banking solutions to meet their needs while offering them the convenience that comes with Standard Chartered’s class leading digital …
