Islamic Finance

(Originally published in The Sunday Leader, 28 August 2011) In mid 2008 the world plunged into an economic recession with devastating consequences throughout the world. The crisis apparently started in the USA. It was a man-made crisis and it came apparently without a prior warning. Surprisingly, even the economists world over, who are engaged in the day to day affairs …

Sheikha Lubna bint Khalid bin Sultan Al Qasimi, the most powerful Arab woman in the world according to Arab Business and Forbes magazines, who is also the Minister of Foreign Trade of United Arab Emirates, arrived in Sri Lanka today, on a three-day official visit amidst renewed bilateral trade efforts between Sri Lanka and the UAE. She is visiting Sri …

In the beginning the Muslims used gold and silver by weight and the dinar and dirhams that they used were made by the Persians. The first dated coins that can be assigned to the Muslims are copies of silver dirhams of the Sassanian Yezdigird III, struck during the Khalifate of Uthman, radiy'allahu anhu. These coins differ from the original ones …

  In the beginning the Muslims used gold and silver by weight and the dinar and dirhams that they used were made by the Persians. The first dated coins that can be assigned to the Muslims are copies of silver dirhams of the Sassanian Yezdigird III, struck during the Khalifate of Uthman, radiy'allahu anhu. These coins differ from the original …

  Nouriel Roubini was  was in fine form yesterday, scaring the bejeezus out of his followers on Twitter by saying that several huge financial institutions could collapse in the blink of an eye like MF Global. These houses of cards, Roubini tweeted, include: Goldman Sachs Morgan Stanley Jefferies Barclays The problem, as Roubini has consistently warned, is the banks' dependence on short-term financing to …