Saudi Arabia presented its official symbol for the riyal today, the Saudi Central Bank (SAMA) has announced. “This initiative aims to promote Saudi Arabia’s financial identity, locally, regionally and internationally,” said SAMA. “It reinforces national identity and cultural belonging, highlights the role of the national currency, and showcases the Kingdom among major global economies and G20 members.” King Salman on …
Read More »Shari’ah Compliant Securities Screening Methodology in Sri Lanka – Download the PDF
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Website “ BestBusinessPractice.Org” By Fazal Issadeen (Fazal@eureka.lk) Fazal has completed five decades in the ICT field and has turned around many businesses since 1999. The Islamic faith stresses a lot on planning. This is evident in a number of …
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INNOVATIONS IN ISLAMIC MICROFINANCE: LESSONS FROM MUSIM AID'S SRI LANKAN EXPERIMENT
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Muslims worldwide have come to the realisation that the prevailing capitalist economic system does not serve us ethically. With its interest-based banking and casino-style financial instruments, a devout believer has no choice but to attempt to escape its haram, even if that hinders the progress and prosperity of our daily lives. In recent years, Islamic finance has been touted …
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Islamic finance is a way of doing financial transactions and banking while respecting Islamic law or sharia. Islamic finance hardly existed 30 years ago yet today is a $4 trillion industry with hundreds of financial institutions located in more than 80 countries. Islamic banks are by far the biggest players in the Islamic finance industry and account for $1.75 trillion or 70% of …
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