Islam in many verses of the Holy Quran urges mankind to travel through the earth. Travelling to perform the Haj in Makkah is compulsory for Muslims meeting certain conditions. Haji Ismail Effendi the father of the late Mohamed Sameer (Ex Chief Trustee of the Maradana Mosque) and late Mohamed Anis & late Sithy Saleema was one traveler who was bitten …

The mentality of reckless greed and the resulting spread of toxic financial externalities into the ‘real economy’ can be viewed as being diametrically at the opposite end of Islamic finance, in theory at least.  This year has witnessed the most serious break-down in the US financial system in some 70 years.  However it is not only the US that has …

It was only recently that a Bahrain-based investment  firm announced the launch of a  Nanotechnology Fund, a private equity fund which will invest in shares and equity-oriented securities of companies with a particular emphasis on global nanotechnology companies including technology and biotechnology companies which benefit from nanotechnology.  Although we do not wish to deal with the issue of nanotechnology which …

Running parallel with the rapid growth in halal banking in recent times has been an equally swift increase in awareness on climate change and its impending consequences. Whilst the goals of ethical financing that is Shari’ah compliant and efforts to shift development and economic growth onto a more environmentally friendly path are compatible, sufficient collaboration is yet to take place.  …

Introduction The subprime mortgage crisis, popularly known as the “mortgage mess” or “mortgage meltdown”, came to the world’s attention when a surge in US home foreclosures (repossessions) started in 2006 and spiralled seemingly out of control in 2007 and 2008. It triggered a national financial crisis that went global within two years. It has caused billions of dollars losses to …