AladdinStreet Singapore is targeting SG$50 million in sales within the first year of its launch in 2016.
FOOD and beverage topped Muslim spending by category last year, exceeding the spending of the world’s largest economies, United States of America (US), China and Japan.
KUALA LUMPUR: Muslim entrepreneurs in Malaysia should consider venturing into the halal industry especially in Asean countries, Malaysia’s Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said recently.
KUALA LUMPUR: The global Islamic finance industry is expected to hit US$3.7 trillion by the end of 2020, said Tun Musa Hitam, chairman of the jury for The Royal Award for Islamic Finance.
TURKEY is committed to tripling the market share of Islamic finance, bringing it up to 15 percent by 2023, Deputy Prime Minister Mehmet Şimşek has said.
Speaking at a conference at the Gaziantep-based Hasan Kalyoncu University, Şimşek said the Islamic finance market had been growing swiftly in Turkey and that the government aimed to further boost the sector.
“Islamic finance currently enjoys a 5 percent share in the market. Our target is to increase this up to 15 percent by 2023. We would like to turn Turkey into a hub of Islamic finance,” he said, adding both state and private banks needed to develop their services in this area.
The minister noted the income inequality in the world, saying 62 people’s wealth was equal to 3.62 billion people. He said Islamic finance can play a positive role to address this problem.
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AFRICA'S development needs are greatly aligned with Islamic finance given the continent’s infrastructure deficit, paving the way for more sharia-compliant products on the continent, according to Imran Mufti, partner at Riyadh-based law firm Hogan Lovells.
KENYA’S plans to develop Islamic finance include a wideranging taxation review and the establishment of a national sharia board, steps which could set it ahead of other African countries aiming to develop the sector.
We shall be publishing a series of articles from the revered book "Introduction to Islamic Finance" by Taqi Muhammad Usmani to give readers awareness into the general concepts of Islamic finance. Please direct your specific questions to scholars.
BEFORE the details of Islamic modes of financing are discussed, it seems necessary to explain some points concerning the basic principles that govern the whole economic set-up in an Islamic way of life.
DUBAI: Jeroen Tap, an energy contracts manager for the Benelux region at Dow Chemicals, acknowledges that he is among the “less obvious” students to enrol on an Islamic finance course as part of his self-funded executive MBA at London Business School.
ISLAMIC banks might be inching closer to applying the principle of profit and loss sharing, says Standard & Poor’s Ratings Services in a recent report.
SPRINGING up on the edge of the Sahara desert are rows of curved mirrors as far as the eye can see. They’re part of what could become the biggest solar power plant in the world.
Morocco is investing about $2.6 billion on the construction of the Ouarzazate complex, which forms the heart of a $9 billion strategy to harness one of the country’s greatest natural resources -- sunshine.
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