Malaysia’s 2018 budget
KUALA LUMPUR - Prime Minister Najib Razak announced Malaysia's 2018 budget on Friday, presenting government plans to tackle rising costs and to contain the country's fiscal deficit. The government also on…
Citigroup plans hiring drive as it re-enters Saudi Arabia
RIYADH (Reuters) - Citigroup (C.N) wants to hire up to 20 bankers in Saudi Arabia, where it plans to formally begin operations in the first quarter after obtaining an investment…
Singapore won’t regulate cryptocurrency, but stays alert to risk
SINGAPORE: Singapore does not plan to regulate cryptocurrencies such as bitcoin, but will remain alert to money laundering and other potential risks stemming from their use, the head of the…
Arab Petroleum Investments Corp gives initial price guidance for dollar sukuk – lead
Arab Petroleum Investments Corporation (Apicorp) has set the final spread for its planned $500 million five-year sukuk at 100 basis points over mid-swaps, a document issued by one of the…
Saudi Arabia joins Islamic finance body, could boost cross-border deals
Saudi Arabia’s central bank has joined an international standard-setting body for Islamic finance, a move that could help standardise industry practices and ease cross-border transactions in the Kingdom. The Bahrain-based…
Bank Negara Malaysia to issue revised trade credit framework by year-end
KUALA LUMPUR: A revised trade credit insurance/takaful framework will be issued by year-end or early next year, said Bank Negara director of Islamic banking and takaful department, Mohd Zabidi Md…
Malaysia’s Green Islamic Sukuk funds green technology projects
SINGAPORE: Malaysia has the potential for green financing 130 potential projects comprising 111 renewable energy (RE) projects and 19 energy efficiency (EE) projects that worth about RM1.9 billion and RM248…
Islamic Economics: An Alternative To Solve Financial Crisis? (By Dr.Hussein Shehatah)
Signs of the collapse of the world financial system have emerged, causing great panic to people all over the world. Many governments called upon economists and experts to find a…
Islamic Banks & Shariah Scholars’ Fees
May 1 (Bloomberg) -- Sheikh Nizam Yaquby is the gatekeeper to the $1 trillion market for managing Muslim wealth. Yaquby, who lives in Bahrain, says he's on advisory boards of 40 finance…
Riba (Usury): Today?s Practical Form and the Reasons Behind its Prohibition?
This writing will try to respond to all the questions raised. Firstly, one must have in mind that Allah, the Most Merciful, has stated clearly in the Quran: “ Those…