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The Riyadh skyline. In Saudi Arabia, the implementation of Vision 2030 and continued growth in mortgage lending supported the Islamic finance industry’s growth, S&P said. EPA The global Islamic finance industry is expected to grow by around 10 per cent in 2023-2024 despite the economic slowdown, after posting a similar expansion in 2022 mainly led by the GCC countries, according to S&P Global …

Brazil is already the leading exporter of halal meat and poultry to the Arab world but authorities believe the wider halal market holds even greater potential and are taking steps to unlock it. (Shutterstock) Project incentivizes food companies to obtain halal certification to access Muslim markets worldwide Exports to the Arab world from Latin America’s biggest economy reached $17.74 billion …

On behalf of the upcoming Ramadan festival, President Ranil Wickremesinghe has issued an order to reduce the Special Commodity Levy (SCL) imposed on Dates from Rs.200 to Rs.1 per Kg.  The President Media Division said the waiver only applies to Dates received as a gift or donation, without any foreign exchange involved, from foreign governments, organizations, business entities, volunteer associations, …

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 …

HAC Board of Directors & Management Team – From left to Right: Aakif A Wahab, Annes Junaid, Mohammed Nafas, Rizvi Zaheed, Ali Fatharally, Mohideen Hussain, TK Azoor, Abdul Basith, Mohammed Rushdi & Shifan Sameen.  The Halal Accreditation Council (HAC) has received the Gold Award for services provided to exporters and was also certified as engaged in “Ethical Trading” by the …