AlBaraka Islamic Bank Builds on a Long-Term Partnership With Misys Selecting Misys Equation and Trade Innovation for its Pakistan Operations.
LONDON, November 4 /PRNewswire-FirstCall/ -- AlBaraka Islamic Bank has announced that it has selected Misys Equation and Misys Trade Innovation for implementation across its 20 branches in Pakistan. The new contract builds on a number of previous contracts with the AlBaraka Banking Group (ABG) and Misys across Africa and...

The next step: insurers look to takaful as Islamic economies advance.
[ILLUSTRATION OMITTED] International insurers and reinsurers see their real prospects for growth in the industry in the world's developing economies, and countries with majority Islamic populations may hold the highest growth potential. Steady economic growth has been the rule for member countries of the Gulf...

Muslim investors find faith in stock markets; at last most Shari'ah scholars agree that buying and selling corporate stocks does not impinge upon Islam because stocks and shares represent real assets. Dividends comply with Shari'ah. (Investment).
Until the early 1990s, there were major doubts about whether investing on the stock markets was Islamically acceptable. However, a decree on investment banking issued by the Saudi Arabian-based Islamic Fiqh (Islamic Jurisprudence) Academy, the Muslim world's leading authority on religious issues, ruled that within certain parameters, equity investment...

UAE - Nov. 6 - Unofficial Cash Transfers To Be Restricted.
A report in The FT says: "The United Arab Emirates is to tighten regulations for the hawala remittance system, the unofficial method of transferring money home used by millions of Asian and other expatriate workers in oil-rich Gulf states. Hawala is widely regarded by Western law enforcement agencies as...

Bahrain PM Shaikh Khalifa feted by Arroyo.
President Gloria Macapagal Arroyo received Bahrain Prime Minister Shaikh Khalifa bin Salman Al-Khalifa at Malacanang Palace yesterday to thank him for the Kingdom of Bahrains continued support for the Philippines and overseas Filipino workers (OFWs). The President particularly thanked Shaikh Khalifa for granting monetary assistance to boost...

Arabian days.
The world's largest oil producer, a free-enterprise economy, and a U S. ally, Saudi Arabia has everything going for it. But can it modernize and stay true to Islam? No ONE lies like an eyewitness," says the Russian proverb. First impressions of a closed society like Saudi...

Islamic finance.
9781843763130 Islamic finance. Ed. by M. Kabir Hassan. Edward Elgar Publishing 2007 670 pages $310.00 Hardcover The international library of critical writings in economics HG3368 The shari'a, the divine...

ARAB-US RELATIONS - Oct. 1 - $6M Of Assets Linked To Al Qaida Frozen.
Pres. Bush says the US has frozen $6m in assets "linked to terrorist activity" of Al Qaida, blocking 30 accounts in the US and 20 accounts overseas. (The move comes after the White House on the Sept. 24 named 27 individuals and groups whose assets it was freezing to...

Islamic bank earmarks $ 16 M for Mindanao.
Byline: EDD K. USMAN JEDDAH, Kingdom of Saudi Arabia -- After the successful Nov. 10-12 tripartite talks here among the Organization of the Islamic Conference (OIC), the Government of the Republic of the Philippines (GRP), and the Moro National Liberation Front (MNLF), the Islamic Development Bank (IDB)...

Authorities puzzled over missing bank coordinator, friend.
Byline: Nonoy E. Lacson JOLO, Sulu -- The police and military authorities in Sulu continued to search for a Jeddah-based scholarship coordinator and his companion who disappeared Monday in Barangay Upper Kakuyagan, Patikul, Sulu and feared to have been kidnapped by the Abu Sayyaf Group (ASG). ...