Islamic Finance

The orchestrated attack on bullion in the paper gold market took the spot prices of gold and silver down on Friday and Monday, but actual physical purchases rose during this period. The sales were of paper claims, not of real metal. The demand for physical possession of bullion rose so strongly that large wholesalers such as www.tulving.com and large retailers …

  Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated …

Deteriorating financial woes in the United States have forced Washington to reduce its military presence in the Persian Gulf. The news comes after the US administration was forced to sign into effect the spending cuts known as the sequester on Friday, which will take USD 85 billion from the US federal budget in 2013. About half of the cuts, USD …

With the country’s Islamic banking still at a low penetration level, experts point out that with the strategic position that Sri Lanka occupies in the region, it should make forays into Islamic capital market to reap full benefits of this industry.   Central Bank Governor Ajith Nivard Cabraal addressing the gathering KPMG’s Global Head of Islamic Finance Neil Miller making …

Much is written on Rizana Nafeek’s extremely unfortunate fate in Saudi Arabia (SA). Some written with anger let loose on the government and some on licensed agencies and every one else who could be dragged in. But to discuss SL migrant labour, one has to leave emotions aside and start off with a factual explanation of what this whole issue …