China is poised to launch the first national digital currency. There will be no counting of the disruption. So is China readying its own Bitcoin? Banish the thought. It’s far bigger than that. Yes, just like any other cryptocurrency — or for that matter, cigarettes in prisoners-of-war camps — the upcoming digital yuan will be “tokenized” money. But the …
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Japanese Halal Industry Beyond The 2020 Olympics
For the past eight years, Japan has been preparing for the 2020 Olympics. By conducting the Olympics mega event successfully, it wants to shake off the legacy of the 1990s and 2000s when the economy was weak and the country seemed to lose its sense of direction. The 2020 Olympics hopes to provide an opportunity …
Malaysia Still A Leader In Islamoc Banking
Malaysia is recognized as a “global leader in Islamic banking”. It is a sector which is growing rapidly worldwide, according to local media in Kuala Lumpur. “We are seen as a pioneer in Islamic banking and we want to maintain that position in the coming years” said Malaysian Deputy Finance Minister Amiruddin Hamzah. “The sector …
UK`s Halal Food Economy Grows Exponentially
Just less than a decade ago halal meat could only be bought from small, local butchers in heavily Muslim-populated areas. The only halal takeaway options were Indian curries or £2 fried chicken and chip boxes and restaurants were few and far between. But today, Muslim consumers have more choices than ever before – whether they …
Halima Aden Is Essence`s First-Ever Hijabi Cover Model
Model Halima Aden shattered yet another barrier in the fashion industry this week, becoming the first black woman in a hijab to grace the cover of Essence magazine. Halima, who is Muslim, is featured on the front of Essence’s January 2020 issue. The 22-year-old, signed to IMG modeling agency, has been making historical strides over …
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DIEDC Reviews Progress of 2019 Initiatives, Plans for 2020
Dubai Islamic Economy Development Centre (DIEDC) held its final board meeting for 2019. Sami Al Qamzi, Vice Chairman of DIEDC and Director General of the Department of Economic Development in Dubai, on behalf of His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC chaired the meeting. Summing up DIEDC’s performance …
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IHAF Growing Membership Worldwide
DUBAI — The credibility of the International Halal Accreditation Forum, IHAF, the world’s first halal accreditation network is further strengthened as the number of countries and international organizations joining its halal standardization initiative continues to increase. The UAE-based International Halal Accreditation Forum (IHAF), the world’s first halal accreditation network, has taken a major leap toward …
IDB Supporting Turkish Exporters To Compete Globally
The Islamic Development Bank (IsDB) Group has been supporting Turkish exporters through Turk Eximbank, the bank’s regional manager said in Istanbul on Thursday. The main objective of the support to Turkish exporters to compete globally. “The IsDB cumulative financing support to Turk Eximbank amounts to more than $3.3 billion,” Salah Jelassi said in his opening …
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Dubai Islamic Bank Acquires Noor Bank
Shareholders of Dubai Islamic Bank (DIB), the UAE’s largest Sharia-compliant lender approved the acquisition of Noor Bank through a capital increase and share swap to make it one of the largest Islamic lenders globally with assets of more than Dh275 billion. The transaction is expected to “enhance Dubai’s position as the capital of the Islamic …
Kyoto Fast Becoming A Muslim Fashion Hub
Thanks to the local economic growth and the relaxation of requirements to acquire visitor visas, Kyoto is expecting more visitors to Japan from populous Muslim countries. Recently, the City of Kyoto and Kyoto Convention Bureau (KCB) have been promoting the Kyoto brand extensively to tourists from all over the world. As a sign of appreciation …
Saudi Banks NCB, Riyad Scrap Merger Talks
Saudi Arabia’s NCB, Riyad Banks end talks to create a mega bank consisting of $200 billion assets, with differences over valuation potentially contributing to the collapse of year-long talks between the two. National Commercial Bank ended talks with smaller rival Riyad Bank, according to regulatory filings, the details of which were not publicly available. The …
Qatar To Host 14th World Islamic Economic Forum in 2020
Qatar plans to host the 14th session of the World Islamic Economic Forum (WIEF) in October 2020, according to an agreement signed between the Ministry of Commerce and Industry and the Forum. The prestigious forum was established in Kuala Lumpur in 2005. Since then, it has been an annual event seeking to enhance economic cooperation …
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