Islamic Finance

For many Australian Muslims like Reem and Fouad Alameddine, the dream of home ownership has been beyond reach.  Paying or receiving interest is prohibited in Islam, so taking out a mortgage is off the table.  With no other option, the couple face the prospect of becoming lifelong renters. “The hardest thing is the uncertainty of [renting],” Ms Alameddine said.  “And also not being …

The special import levy imposed on per kg of dates has been reduced by Rs. 199 with effect from today (28), the Finance Ministry announced. Accordingly, the new levy would be Rs.1.00.  “The tax has been reduced as a relief measure for Muslims during the upcoming Ramadan fasting period,” the Ministry said. The Ministry also refuted the reports which state …

Islamic Finance Today Digital Magazine was relaunched this month with a new look and in a wide range of applications including mobile device compatibility .This follows an agreement with MIT Media and Publications to revive the magazine in digital format. The magazine which follows on the print version from 2006-2010 and the online version from 2015-2016 aspires to deliver the …

Source: RT Countries around the world are turning to gold as uncertainty about the global economy rises. Trade wars and the aggressive policies of the United States are making emerging economies withdraw from dollar assets, analysts told RT.In the near future we can witness a big change in the rules of the game. At the beginning of the year, developing …

Amãna Bank Chairman Osman Kassim exchanging agreements with ICD CEO Khaled Al Aboodi at the 42nd Annual Meeting of IDB Governors in Jeddah, Saudi Arabia Amãna Bank has received confirmation from IB Growth Fund (Labuan) LLP, a subsidiary of the Islamic Corporation for the Development of the Private Sector (ICD), to participate in the Bank’s forthcoming rights issue. ICD is …