HDC, IDB to set up halal investment fund

HDC, IDB to set up halal investment fund
The Halal Industry Development Corporation (HDC) is in discussion with the Islamic Development Bank (IDB) to set up a halal investment fund. Its focus will include to finance the development of agriculture businesses especially for IDB member countries. An MoU was signed recently between the two parties to set the ball rolling, HDC chief executive ...

ISLAMIC INVESTMENTS OPPORTUNITIES IN INDIA

ISLAMIC INVESTMENTS OPPORTUNITIES IN INDIA
Over the last ten years Islamic finance has grown quite impressively. With the growth in Islamic finance the need for shariah compliant financial products have also increased very much. However, Islamic capital markets in various Muslim countries are still quite underdeveloped. In these circumstances there have emerged a number of Indices developed by Dow Jones, ...

Falalu Bello – Bible, Quran support non-interest banking

Falalu Bello - Bible, Quran support non-interest banking
There is nothing controversial in non-interest banking otherwise known as Islamic banking because Christianity and Islam abhor usury or interest banking, former Managing Director of Unity Bank Plc, Alhaji Falalu Bello has said   He said both Muslims and Christians can participate in the non-interest bank since the two holy books are against usury. He ...

Is Islamic banking relevant to Nigeria’s economic development

Is Islamic banking relevant to Nigeria’s economic development
There is a palpable apprehension in the Nigeria following the announcement by the Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, to establish Islamic banking in the country. Given an explicitly religious dimension to Islamic banking, and given also a priori consideration of the nation’s secular status, I did harbour great doubts ...

Islamic banking: Features of accounting

Islamic banking: Features of accounting
Afzalul Haq in the first of his three-part article Now-a-days accountancy has become an important academic and professional discipline as the lingua franca or language of business. As such in the real life industrial scenario, accounting has become the vital part of the top management.

Islamic Finance in Russia – Developments in 2010

Islamic Finance in Russia – Developments in 2010
It has been a year since the first conference on Islamic finance in December 2009. Over the year there have been quite a number of significant events taking place, all of which will influence the development of Islamic finance in Russia. Among these, the major milestones are the establishment of the Russian Association of Experts ...

Islamic finance – steady amid chaos

BOOK REVIEW Reviewed by Robert E Looney In 1936 in the depths of a world-wide economic depression, John Maynard Keynes described the decline of the world’s financial markets as a result of playing at a casino: “Short-term speculation with little regard to fundamentals.” A cursory examination of the current global financial crisis suggests little has ...

Why in India Islamic Finance is Nipped in the Bud

The recent stay order passed by the Kerala High court against the incorporation of an Islamic finance company needs to be critically reviewed and also the contents of the writ petition filed by Dr. Subramanian Swamy to understand why Islamic finance is generally nipped in the bud in India. In this article I will be ...

Sharia compliant investment: Is it the same as SRI?

Sharia compliant investment: Is it the same as SRI? Sharia-compliant investment is the investment approach associated with Islam, Sharia being the set of rules (or  ‘path to headwater’) that governs the lives of Muslims.  It seems to be emerging as one of the key trends in the financial services sector, and indeed one of the ...

India is fertile ground for Islamic investments 1

Now, it’s India Inc’s turn to play a religious card but mercifully, for all the right reasons. The nation has emerged as a key ground for Islamic investments, under which speciality funds pump in money only into those activities or firms that are compliant with the principles and ethics of Islam. With billions of dollars ...