The Standards and Metrology Institute for Islamic Countries (SMIIC) and Turkey’s Independent Industrialists’ and Businessmen’s Association (MUSIAD) signed on Thursday two agreements to improve halal standardization capacity and awareness in the region. The pacts, signed at MUSIAD’s headquarters in Istanbul, saw the participation of heads of both institutions, Abdurrahman Kaan and Ihsan Out. While one …
Regulations
We Must Adopt ISO-Level Halal Standards, Says IHAF Chief
International Halal Accreditation Forum (IHAF) has highlighted the importance of developing ISO-level halal standards to capitalize on the Islamic economy, which is projected to reach Dh11.7 trillion ($ 3.2 trillion) by 2024, according to the Global Islamic Economy Report 2019/2020. Dr. Rehab Al Ameri, secretary-general of IHAF, noted the importance of facilitating the development of …
We Must Adopt ISO-Level Halal Standards, Says IHAF ChiefRead More
Pakistan, Turkey To Formulate Uniform Halal Standards
ISLAMABAD, (UrduPoint / Pakistan Point News – 17th Feb 2020 ): The recent Memorandum of Understanding (MoU) signed between Halal Accreditation Agency of Turkey and Pakistan National Accreditation Council (PNAC) will prove as a catalyst toward developing uniform standards of Halal items in the country, following the international standards. This was stated by Spokesman of …
Pakistan, Turkey To Formulate Uniform Halal StandardsRead More
Pakistan Halal Authority (PHA) To Start Operating Soon
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 …
Pakistan Halal Authority (PHA) To Start Operating SoonRead More
UAE Banks Planning To Establish A Centralized Islamic Finance Board
Dubai, UAE – The United Arab Emirates’ Bank Federation has discussed a proposal to create a centralized sharia board that would monitor Islamic banking, which could spur the growth of the industry. The central bank had proposed setting up a Higher Sharia Authority that would complement and oversee the work of sharia boards at individual …
UAE Banks Planning To Establish A Centralized Islamic Finance BoardRead More
AAOIFI Issues New Accounting Standard on Investment Accounts
Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has issued a new accounting standard on investment accounts – Financial Accounting Standard No. 27 (FAS 27) Investment Accounts.The new FAS 27 updates and replaces two of AAOIFI’s previous accounting standards relating to investment accounts – FAS 5 Disclosure of Bases for Profit Allocation between Owners’ …
AAOIFI Issues New Accounting Standard on Investment AccountsRead More
UAE National Halal Logo Introduced
Dubai: Consumers will be able to confirm their purchase is halal by looking for a new Halal National Mark on the product recently shown for the first time. The logo, showing a red crescent moon and the word “halal” in English and Arabic, was revealed by authorities earlier this week. However, it was not immediately …
A French Mayor Sparks Fury On Halal Slaughtering
Hayange, France:—Mayor FN Hayange Fabien Engelmann attacks a Halal butcher due to the fact that he did not want trade by Muslims on Sundays, and it attracts lot more customers than usual, the exact opposite of what he wanted. He wanted the immediate closure of the halal butcher shop in question. According to France Info TV, the mayor sent …
Halal Guys Food Cart ‘Guys’ Win Lawsuit Against Halal Guys New York
Under the terms of the deal, Halal Guys of New York has five days to ‘dispose of any signs, banners, promotional or advertising items’ that look like the original Halal Guys signage and branding. There’s peace in the Middle East — in the Middle Eastern food cart wars, that is. The operators of the popular Halal …
Halal Guys Food Cart ‘Guys’ Win Lawsuit Against Halal Guys New YorkRead More
Jordan Introduces Islamic Bond Rules
Amman: Regulators in Jordan have introduced a set of long-awaited rules for the issuance of sukuk, or Islamic bonds, paving the way for both the public and private sectors to tap into growing demand for Sharia-compliant investments. Jordan is one of several Muslim-majority countries keen to develop their domestic Islamic finance sector and the government …
Cash Rich Japan – Where To Invest?
A view on Japan’s stance on multi-billion dollar Islamic Finance markets Nasir A Khan* Where to invest? Thinking out of the box With a country many times smaller in size and in manpower than its immediate economic competitors (US, EU and China), Japan alone at its peak represented nearly 18% of the world economy in …
Exploring The Position Of Bitcoins In Islamic Banking And Finance
Islamic Banking And Finance It may be too early to form a final opinion about Bitcoins (BTC) as a viable currency. In particular it depends on its acceptability and adoption by the business community all over the globe. This will only happen when a complete trust in such a virtual currency develops to a point …
Exploring The Position Of Bitcoins In Islamic Banking And FinanceRead More