Islamic Finance
The Sukuk Controversies
Sukuk, or Islamic bonds, are the fastest-growing segment of the Islamic finance market, which has seen phenomenal growth itself in the past six years. Recently, the Chairman of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI’s) Shari’ah Board, Sheikh Taqi Usmani, issued a statement which stated that, “85 per cent of the GCC Sukuks do not comply with the Shariah principles and thereby, don't qualify to be called Islamic at all.” This statement has sparked wide debate and discussion over the “Islamicity” of Sukuk issued globally.
Evolution of Islamic Credit Card
Credit card which is also popularly known as ‘plastic money’ has become an essential mode of payment in today’s modern society. However, in Islamic finance it is considered as ‘Haram’ (unpermissible) as it does not comply with certain Shariah requirement...
Promoting Transparency in Islamic Banks
Transparency is the basis of greater ingenuousness and shared information that can facilitate working partnerships between Islamic banks and its stakeholders, as well as deepen understanding of its performances, competitiveness, and risk management, even promote investment. Needless to say, transparency is crucial for Islamic banks.
The Fundamentals of Islamic Home Loans
Purchasing a home for the family is one of the biggest investments in life. Several factors needed to be taken into account and while it may be tempting to compare Islamic financing to that of conventional, Muslims should only consider one key factor – freedom from riba’.
Islamic Unit Trust in Malaysia - An Introduction
First launched in the UK in 1931 by M&G, unit trusts are a form of investment by companies or individual who pool their money to make large-scale investments in selected portfolio of securities. Within Malaysia, unit trust started with the formation of Malayan Unit Trust Ltd. in 1959. Government agencies started formulating regulations during the early years but it was in the 80s that the industry started to bloom.
The manipulation of the gold market
The key to understanding the manipulation of the gold market, this enormous scandal and fraud, is that it can be compared to a murder trial.
Iran Announces Switch from Dollars to Euros
Iran announced it has ordered the central bank to use euros for foreign transactions and transform the state's dollar-denominated assets held abroad into the single European currency.
Takaful IKHLAS - bridging the gap for Islamic insurance in the Halal industry
Takaful IKHLAS, the country’s fourth Takaful provider, is fully committed to ensuring equity and fairness in all its dealings.
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Big money is snapping up gold under the radar
The world's big money brigade is snapping up gold bullion at eight times the rate originally thought, according to a report by UBS, the world's biggest gold trader.
Dollars decline practically ensures golds rise
In the currency world, the dollar is often referred to as "invincible" or a "flight to quality" instrument. Don't bet on it.