Thursday 9 February 2023 \

 

Islamic economy

Malaysia dominates the Islamic economy

Malaysia can lay claim to be the center of the world’s global Islamic economy, but the United Arab Emirates (UAE) is hot on its heels, according to new research.
 
The “State of the Global Islamic Economy Report 2018/19,” commissioned by the Dubai Islamic Economy Development Centre (DIEDC) and produced by Thomson Reuters, shows a narrowing gap between the two hubs. The Islamic economy is the Muslim-majority countries that have financial sectors and economies which comply with Islamic law.
 
 

Halal business - Consuming passions

Source : The Economist | 28 May 2013

The Halal industry to the world’s 1.8 billion Muslim shoppers, is a market likely to grow by 35% by 2030. But stereotypes of joyless zealotry are as misleading as the idea that the Muslim market involves only interest-free finance and hand-slaughtered meat. Sharia law forbids meat such as pork and birds of prey, plus blood and carrion.

 

Egypt to seal IMF deal before elections, minister tells Al Arabiya

By Carina Kamel / 10 Jan 2013

Egypt will sign a long-awaited financing deal with the International Monetary Fund (IMF) before upcoming parliamentary elections, the planning minister has told Al Arabiya, hinting that elements of the government’s economic program such as a controversial sales tax rise could be subject to change in a revised agreement.

Minister Ashraf El Araby also dismissed reports that newly announced aid from Qatar could delay the IMF loan.

 

Financial shock would never have happened under sharia

By John King | Irishtimes | 21 May 2012

IN THE West we have, over many years, created a range of financial instruments to meet the needs of business, of investors and of the man and woman in the street. In the recent past, institutions in the Islamic world have developed a parallel set of instruments which seek to fulfil those needs in a way which is consistent with sharia law.

 
 

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