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Thailand aims to become a top Muslim tourist destination by 2027, focusing on their growing numbers and purchasing power, with over 3 million Muslim tourists visiting last year. The Department of Tourism unveils a five-year plan to enhance services, including halal offerings, to attract Muslim tourists and elevate Thailand’s position among leading Muslim-friendly destinations. Thailand’s goal is to establish itself …

By Securities and Exchange Commission of Sri Lanka (SEC) Islamic Capital Market Products (ICMP) are securities which are developed in compliance with Islamic Law, and ICMPs play an important role in the development of the Capital Market and the economy as it opens up opportunities for investment and fund raising. Many countries have introduced different types of ICMPs, such as Shariah-compliant …

​Islamic finance is a way of doing financial transactions and banking while respecting Islamic law or sharia. Islamic finance hardly existed 30 years ago yet today is a $4 trillion industry with hundreds of financial institutions located in more than 80 countries. Islamic banks are by far the biggest players in the Islamic finance industry and account for $1.75 trillion or 70% of …

Bilateral trade volumes are significantly up as Moscow targets the Islamic world for new trade and development opportunities  By Farzad Ramezani Bonesh, with additional commentary by Chris Devonshire-Ellis Due to the Ukraine conflict, Russia has lost part of its supply chain and Western-origin suppliers, compounded by most Western based countries imposing sanctions and cutting off their economic relations with Russia. However, to …

The Consumer Affairs Authority (CAA) has taken a significant step towards safeguarding consumer rights by issuing a special gazette notification aimed at regulating the activities of online sellers and sellers operating on digital platforms. The directives outlined in the notification, which were announced by CAA Chairman Shantha Niriella on May 17, are designed to protect consumers throughout the various stages …