Filter: africa
Central Bank to partner with Malaysia
The Central Bank of Nigeria has announced its desire to work with the Bank Negara Malaysia (Central Bank of Malaysia) to seek solutions to and share expertise on a wide range of issues for the benefit of the banking industry.
Filed Under: News Articles
South Africa Then and Now
South Africa is multi-faceted, from their people of diverse origins, cultures, languages and beliefs to their landscapes with abundant natural resources. Modern humans have been living here more than 100,000 years before its written history began with the arrival of European seafarers, making the country a major archaeological treasure chest. Officially known as the Republic of South Africa, the country is located at the southern tip of Africa between the Atlantic and Indian Oceans. Its legislative capital is Cape Town, Pretoria is the administrative capital, and the largest city is Johannesburg.
Filed Under: Business >> Country Feature
Halal Food Became a Widely Spreading Commercial Niche
Halal food became a widely spreading commercial niche as it estimated to value at US$5 billion annually, Algerian Press Service (APS) reports, adding that some 16 Algerian companies will take part in the International Halal Exhibition.
Filed Under: Products & Services
Halal Products: Algerian Producers Urged To Embark On Europe Market
Organisers of the two-day Halal Food and Services Exhibition, which will kick-off on March 30 in Paris (France) urged the Algerian producers of food processing to profit of opportunities offered by such an event to intensify their exports to Europe.
Filed Under: Trade & Investment
Sharia banking gains footing in Kenya
As evidence that Islamic banking is gaining firm root in Kenya, Barclays Bank of Kenya has introduced two more Sharia law compliant financing products. The introduction of La Riba Personal Finance and La Riba Vehicle Finance products will see customers get financing of up to Sh1 million with no interest charges.
Filed Under: News Articles
Islamic banking, panacea to global meltdown
Islamic fund has been declared as the only resilience alternative in the face of global meltdown as the returns from the Islamic financial institutions throughout the world in 2008 were in the region of $600 billion.
Filed Under: News Articles
CBN governor canvasses for Islamic banking in Nigeria
The Governor, Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi has tasked Muslims in Nigeria to come up with suggestions and strategies that would assist the CBN to provide a conducive and enabling environment for Islamic banking in the country.
Filed Under: News Articles
Islamic Banking Market worth N4 Trillion
Managing Director of Jaiz International Plc, Alhaji Mohammed Bintube says Nigeria's Islamic banking market is worth around N4.35 trillion (US$27.7 billion), Daily Trust reports.
Filed Under: News Articles
CBK urged to set policies for Islamic banks
The Central Bank of Kenya should set up a Central Sharia Supervisory Authority to oversee Islamic banking in Kenya. According to Mr Ali Mohamed a Sharia auditor from Qatar, the authority should have the duty of setting up policies on Islamic banking in Kenya.
Filed Under: News Articles
Islamic Banking in Africa
Islamic banking, once regarded as an exotic but not very practical system and consigned to the outer fringes of the global industry, is now moving steadily into conventional banking and attracting attention from its non-traditional base. The fact that it eschews charging interest on loans has made it appear the perfect antidote to the excessive greed that characterised conventional banking and led to the current financial crisis. In short, Islamic banking, with its emphasis on ethics and its employment of capital solely as a factor of production rather than as a means of gain, is now the politically correct banking system.
Filed Under: News Articles