When Kerim Ture placed his first order for a batch of long-sleeved tunics that could be worn by Muslim women, the manufacturers producing them demanded payment upfront, apparently convinced the venture would fail and Ture would be left unable to pay them. The Turkish entrepreneur quickly proved that their scepticism was unfounded, and he was back shortly afterwards to place …
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LONDON: Gone are the days where “halal” shopping referred only to a trip to the local butchers to ask for a special cut. Muslims across the world are increasingly product-savvy, seeking out the latest consumer products that also fit their religious beliefs, spelling a boom in the so-called Islamic economy. The year ahead ushers in trends for modest garb for …
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LONDON: The global halal food and beverage (F&B) market is set to boom in the next five years, driven by new entrants to the market. The sector is expected to grow from $1.24 trillion in 2016 to reach $1.93 trillion by 2022, according to the “State of the Global Islamic Economy” report. “Halal food is the largest and most diverse …
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Introduction: Honoured Status Of A Traveller Abu Hurairah reported that the Messenger of Allah said: “Three supplications are answered without doubt – the supplication of the oppressed, the supplication of the traveller, and the supplication of the parent for his son.” (Tirmidhi, Abu Dawud) If such be the lofty status of a traveller, it must only mean that travelling in …
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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 …
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RIYADH — The government is currently considering to allow expatriates to invest in free trade against an annual income tax of about 20 percent, business daily Al-Eqtisadiah reported on Sunday. A number of transactions were limited to the Saudis, which gave rise to the phenomenon of tasattur (doing business in the name of Saudis against certain fees) that has caused …
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