JOHANNESBURG, Aug 21 (Reuters) – The BRICS group of major emerging economies – Brazil, Russia, India, China and South Africa – will hold its 15th heads of state and government summit in Johannesburg between Aug. 22 and Aug. 24. Here are some key facts about the bloc and its members. WHAT IS BRICS? The acronym BRIC, which did not initially include South …
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The West Bank city loses Christmas tourism amid daily Israeli raids and the continuing assault on the Gaza Strip. There are no tourists on Bethlehem’s streets and churches have announced the cancellation of all Christmas festivities amid the continuing Israeli assault on Gaza [Mosab Shawer/Al Jazeera] By Mosab Shawer Published On 22 Dec 202322 Dec 2023 Bethlehem, occupied West Bank …
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Muslims worldwide have come to the realisation that the prevailing capitalist economic system does not serve us ethically. With its interest-based banking and casino-style financial instruments, a devout believer has no choice but to attempt to escape its haram, even if that hinders the progress and prosperity of our daily lives. In recent years, Islamic finance has been touted …
Read More »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 …
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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 …
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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 …
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