Category: Finance

dollar peg

The gulf region’s central bank governors recently confirmed their respective country’s commitment to peg their currencies to the dollar; this while attending a conference in Abu Dhabi. The governor of the Saudi Arabian Monetary Authority, Ahmed Abdulkarim Alkholifey said that


Citigroup, the American investment banking and financial services multinational company is reporting that it has obtained formal approval from Saudi Arabia’s Capital Market Authority to begin its investment banking business in the Kingdom. Over a dozen foreign banks are now licensed to


Zakat Fact and Myths

Zakat is the third the pillar of Islam. It literally means to increase. Technically Zakat is intended to purify one’s possession of wealth by distributing a prescribed amount which has to be given to the poor as a fundamental act

Islamic Finance

Islamic Finance is based on the Profit & Loss sharing principle . In other words the parties  collaborate on a venture and share realized profits or split suffered losses. #1.- In Islamic finance, one must work for profits, and simply

Abu Dhabi

As per data gathered from the Central Bank of UAE, Sharia complaint banks have decreased in growth yet they are still expanding faster than conventional banks. As of July 2016 the Islamic financial institutions growth rate was at an impressive

Islamic business

Islam is not all about spirituality. It deals with every aspect of human life. Striving for sustenance is required. It is human nature to earn livelihood for oneself as well as for one’s dependents. An individual can’t get anything unless


An Islamic bond, known as Sukuk has always been common in Muslim countries alone. However, Britain has become the first country outside the Muslim world to issue an Islamic bond. According to the UK’s Foreign Minister for the Middle East, London


A check of $45,000 was paid to Takaful Insurance Program in December, 2012. Takaful Canada which is a joint venture between three Canadian cooperatives, received the check from the co-operators as a participation reward. Their plan was to share the