Training programs for four conventional banks on Islamic banking and finance have been conducted in Uzbekistan. The programs were developed by the Islamic Development Bank Institute and the Islamic Corporation for the Development of the Private Sector. The five-day training for each bank included the following subjects: principles of Islamic f...
Oman’s Islamic banking sector is likely to maintain its positive trajectory in the short-to-medium term despite structural challenges, Fitch Ratings reports. Increased awareness, strong retail demand for Islamic products, supportive regulations, and a strong push from the Islamic windows of conventional banks will drive growth. Growth in Isl...
Washington’s sanctions on Russia may affect Europe more than the US, an expert warns. Harry Tzimitras, a senior fellow at the US-based Atlantic Council, told Anadolu Agency, that Europe has had much greater dependence on Russian gas. He added that when it comes to the war on Ukraine, “That’s why we see them being much […]
Rising crude oil prices are expected to lower oil-rich Gulf nations’ need to sell Islamic bonds, according to Moody’s Investors Service. Higher oil prices will lead to lower sukuk issuance in 2022. Sukuk is the name for interst free bonds. That’s driven largely by lower financing needs among Gulf Cooperation Council countries, according to a...
U.S. biotechnology company Moderna plans to invest more than $500 million in a vaccine and drug manufacturing facility in Kenya. Leaders of the African nation signed a memorandum of understanding with Moderna on Monday in the capital Nairobi. The new facility will help address the problem of vaccine inequity experienced across Africa. Kenyan P...
Russia has become the world’s most sanctioned country due to its war on Ukraine. The international community has imposed 2,778 new sanctions on Moscow in just under two weeks since Russian troops invaded Ukraine. The total number of sanctions increased to 5,532, according to the global sanctions monitoring database Castellum.ai. By comparison,...
The 14th Emir of Kano and former governor of Central Bank of Nigeria, is calling for religious tolerance among Nigerians while canvassing support for Islamic finance. Lamido Sanusi spoke Sunday in Lagos as the guest of honour at the fifth national discourse organized by The Companion, an association of Muslim businessmen and professionals. San...
Iran and the United Arab Emirates are developing closer bilateral ties while the UAE is also simultaneously cozying up with Israel. Experts consider these to be unprecedented and very significant developments. What makes it still more intriguing is that hostilities between the Emiratis and Iran-backed Houthi rebels in Yemen have taken an ugly,...
Serbia will join all decisions of the UN General Assembly on the violation of Ukraine’s territorial integrity amid its war with Russia but will reject all those related to sanctions against Russia, its president said Tuesday. Aleksandar Vucic told reporters that during the UN General Assembly’s emergency special session Monday on the Ukrainian...
PARIS (AA) – A war of words erupted Tuesday after Moscow’s top security official threatened Paris with “real war” in response to a minister’s remarks about waging an “economic war” to punish Russia for launching an attack on Ukraine. “Today, some French minister has said that they declared an economic war on Russia. Watch your [&he...
