Islamic Finance

Beijing Downgrades US-Treasury to A+ – Is Anybody Listening? By Gary Dorsch, Editor

Global Money Trends newsletter   Of the big-3 credit rating agencies, only the S&P rating agency had the courage and fortitude to speak the truth, about the severe deterioration of America’s financial status. S&P shocked the political establishment in Washington, by following through with its threat to downgrade US Treasury debt to AA+ on the evening of August 5th. S&P added …

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Amana opens first Islamic bank in Sri Lanka

Amãna Bank, Sri Lanka’s first licensed commercial bank to operate fully under the principles of Islamic banking, had its official opening yesterday, whilst it will be open for business on Monday. A simple launch event to mark the opening was held at the bank’s Corporate Office at 480, Galle Road, Colombo 3, with Central Bank Governor Ajith Nivard Cabraal attending …

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KITAB AL-FARA’ID (THE BOOK PERTAINING TO THE RULES OF INHERITANCE)

Translation of Sahih Muslim, Book 11:   INTRODUCTION   Inheritance is the entry of living persons into possession of dead persons'property and exists in some form wherever the institution of private property is recognised as the basis of the social and economic system. The actual forms of inheritance and the laws governing it, however, differ according to the ideals of …

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US to hold back $800 mln in aid to Pakistan: report

(Reuters) – The Obama administration will hold back about $800 million in aid to the Pakistani military because Washington is unhappy with Pakistan's expulsion of U.S. military trainers and its campaign against militants, the New York Times reported Saturday.   Relations between the two governments have been strained with the United States wanting Pakistan to intensify its counterterrorism efforts. The …

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