Wednesday , 21 March 2018

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WIEF Dubai: Islamic finance adds up across the world


Over three days of speeches, debate, policymaking, and plain old marketing one theme emerged as dominant from the 10th World Islamic Economic Forum in Dubai: Islamic finance has gone global, both as a concept and as a hard business reality. After two years on the road — last year in London and 2014 in Dubai — the annual forum is ... Read More »

Malaysia’s Bank Islam sets up one billion ringgit Basel III sukuk programme

Malaysia’s Bank Islam, wholly-owned by BIMB Holdings Bhd, has set up a 1 billion ringgit ($307 million) subordinated Islamic bond programme, the latest Asian bank to use the structure to boost regulatory capital. With Basel III global banking standards being phased in around the globe, several Islamic banks have issued subordinated instruments, including those in Turkey, Pakistan, Saudi Arabia and ... Read More »

History of the Hajj


Hajj literally means ‘to set out for a place’. Islamicly, however, it refers to the annual pilgrimage that Muslims make to Makkah with the intention of performing certain religious rites in accordance with the method prescribed by the Prophet Muhammad (peace and blessings be upon him). Hajj and its rites were first ordained by God in the time of the ... Read More »

Bahrain used UK spyware to hack pro-democracy activists


Leaked internal documents released earlier this month has revealed UK-German surveillance company, Gamma Group International, has sold spy software to Bahrain during the regime’s crackdown on pro-democracy activists. A report by the advocacy group Bahrain Watch (BW) suggests that the Bahraini Government infected 77 computers of the country’s most prominent lawyers, activists and politicians with the malicious FinFisher surveillance software. ... Read More »

HSBC closes some Muslim groups’ accounts


HSBC bank has written to Finsbury Park Mosque and other Muslim organisations in the UK to tell them that their accounts will be closed. The reason given in some cases was that to continue providing services would be outside the bank’s “risk appetite”. The wife and teenage children of a man who runs a London based Islamic think tank have ... Read More »

Mumbai Muslims Protest Gaza by Boycotting Pepsi, Nescafe


Wedged in a haphazard row of shops in Mumbai’s crowded Bhendi Bazar, a predominantly Muslim area, the tiny Shalimar Restaurant exhorts patrons to reject products made by PepsiCo Inc. (PEP:US), Kraft Foods Group Inc. (KRFT:US) and Nestle SA (NESN) to protest Israel’s military operation in Gaza. A poster near the manager’s table lists six Western brands, including the Coca-Cola Co. ... Read More »

DKNY’s Ramadan collection shows that Muslim dress means more than the burqa


Muslim women’s clothes are once again in the spotlight, in a week where the European Court of Human Rights has upheld France’s ban on burqa and niqab. But there’s another controversy taking place around how Muslim women dress themselves, and this time, it’s DKNY’s Ramadan Summer 2014 collection, styled by two Middle Eastern women: Yada Golsharifi, fashion editor of Styles ... Read More »

Businesses stay open later for fasting Muslims


Ramadan restricts Muslims from enjoying their favorite restaurants and cafes during their 17-hour daily fasts. However, Muslims in Dearborn and Dearborn Heights have the convenience of several businesses that offer extended hours. Shatila Bakery in Dearborn, 14300 W. Warren Ave., stays open one hour later for fasting Muslims to find time during the holy month to enjoy its sweets after ... Read More »

‘DKNY Ramadan’ Collection Launched For Muslim Holy Month


The LVMH-owned company, part of the Donna Karan International brand, launched its DKNY Ramadan collection Tuesday, for Muslims observing the holy month of daylight fasting. Ramadan began on Saturday and runs through July 28. The 12-piece capsule collection is conservative with long, flowing dresses and skirts, jumpsuits and pants and long-sleeved and three-quarter-length jackets and shirts, conveying the modesty many ... Read More »

Obama sends best wishes for Muslim holy month

President Barack Obama is sending his best wishes to Muslims in the US and around the world on the start of the holy month of Ramadan. Obama says in a statement that the US is grateful for Muslim-American organisations, individuals and businesses that work to reduce the income gap and poverty through charitable efforts and programmes that provide education, skills ... Read More »