RFI Foundation announces new initiative to bring transparency and accountability to responsible finance commitments

A new partnership between the financial industry and civil society aims to rebuild trust and enable responsible finance initiatives to work better using blockchain technology

London, UK, November 13, 2018 – The Responsible Finance & Investment Foundation (RFI) publicly announced the creation of the CDIT Initiative with 24 signatories upon its announcement to improve transparency and accountability in the responsible finance industry.  The initiative, which was launched on September 20th, during the third Value Based Investors and the SDGs conference organized by the Banco de la Nación Argentina on the sidelines of the ...


Amanah Halal Research Centre Organizes 2nd Global Halal Forum 2018 in Italy

Amanah Halal Research Centre, a Germany and Pakistan based organization, organized the 2nd  Global Halal Forum in collaboration with University of Catania,  Gruppo Ibleo, Gruppo Consulting and EDA Associated in Catania Italy.

November 11, 2018 (Germany): The global halal industry is only merely limited to Muslim countries but non-Muslim countries are also ready to join this multi-trillion dollar industry.

The main purpose of the 2nd Global Halal Forum 2018 was to create awareness about the untapped potential of Halal business and explore ways to benefit from this potential. The forum was attended by representatives of major ...


Brunei Rapidly Growing as International Education Hub

by Rasidah Hj Abu Bakar  

BANDAR SERI BEGAWAN – Universiti Islam Sultan Sharif Ali (UNISSA) rector said the Islamic university’s new permanent campus in Temburong will help meet the uptick in student enrollment as well as accommodate new faculties and programmes. New UNISSA campus to accommodate growing number of students and the Islamic university records 10 to 20% increase in student enrollment annually.

For the 2018-2019 academic year, student enrollment increased by 10 percent, Dr Hj Norarfan Hj Zainal told The Scoop on the sidelines of the university’s convocation on ...


Sarajevo Business Forum 2018 held in Sarajevo

Sarajevo Business Forum is the biggest and most significant investment conference in the region which is attracting participants from more than 30 countries worldwide. Last year SBF attracted 1,700 participants, including more than 330 accredited journalists. This year we expect an even larger number of international investors, funds, entrepreneurs and distinguished statesmen.

Bosna Bank International (BBI), in cooperation with its shareholders (Islamic Development Bank, Dubai Islamic Bank and Abu Dhabi Islamic Bank) and other international partners, is the organizer of the annual International Business and Investment Conference - Sarajevo Business Forum (SBF). The Conference was initially organized in 2010 and since ...


6th Global Forum on Islamic Finance

 GFIF, Pakistan’s leading conference will kick off on March 13-14 March 2019 in Lahore which is organized by Center of Islamic Finance  COMSATS Institute of Information Technology, Lahore will bring together the top Islamic finance professionals, academicians and researchers to discuss building sustainable future and formulate best strategies for tackling current and future issues. 

The motive to hold this event is to deliberate the spectacular political and socio-economic developments, and their likely impacts on the performance and future position of Islamic financial institutions, the regulatory set-ups, and popularity of Islamic ...


IIFM and BAFT to Created MRPA for Islamic Trade Finance

 BAFT (Bankers Association for Finance & Trade), an international financial services association, and IIFM (International Islamic Financial Market), an Islamic financial services standard-setting body, announced a memorandum of understanding to jointly create a master risk participation agreement to support Islamic Trade Finance.                                                                                                   

BAFT introduced its ...


Emir of Kano to Deliver Opening Keynote Address at the RFI Summit 2018

HRH Emir Sanusi II brings his experience as banker, central banker and Emir to deliver the change needed for the Sustainable Development Goals

Zurich, Switzerland, 7 March 2018 – The organizers of the Responsible Finance & Investment (RFI) Summit 2018 are excited to announce the opening keynote speaker for the Summit, His Royal Highness Emir Muhammadu Sanusi II, Emir of Kano.  His Royal Highness will share his experience engaged in advocating for sustainable economic development and the creation of a more equitable, inclusive and sustainable financial system. 

Emir Sanusi’s began his career ...


The Importance of Global Halal Standard

by Tati Maryati, SSi, MM and Prof. Dr. Mosaad A. Abdel-Wahhab  

Recently, the increasing trade of Halal products has deserved a special attention from various parties, especially Muslim societies because it reflects the strong economy of Muslims. Nevertheless, Halal products are not only for Muslims but also for all humans.  It was mentioned in the Qur'an that Halal food and beverages are the best for consumption because it is  good for health, which we are familiar with the term Halal-Thoyyib.

Apparently, this is realized by many parties, especially with the help of social media and internet, where the information is very easy to be obtained ...


Bringing Technology and Impact Finance Together in Support of Sustainable Growth

RFI Summit organizers open early-bird registration and release RFI Summit 2017 post-event report

Zurich, Switzerland, February 14, 2018 – The Responsible Finance & Investment Foundation (RFI) and Swiss Arab Network (SAN) are excited to announce the opening of early-bird registration for the RFI Summit 2018.  In addition to opening registration at exclusive discounted rates, the organizers have released a post-event report summarizing the RFI Summit 2017, which was held on May 3-4, 2017 in Zurich, Switzerland. 

Based on the experience and feedback provided by participants in the RFI Summit 2017, the organizers have aligned the RFI Summit 2018 around ...


From Farm to Fork – Issues with Fish Farming for Halal Certifying Bodies

by Tayeb Habib  

As sea fishery resources dwindle, and become more and more endangered, due to human over-exploitation, a growing fish farming is emerging worldwide. Fish farming that is pisciculture has the advantage of being renewable and sustainable, in a World that has more and more mouths to feed. In 7.6 billion World population and 1.8 billion are estimated to be Muslims, and the latter population cares about Halal food.

Global population growth and increased human welfare levels have led to a fast increase in demand for high quality foods. The FAO estimates that “global meat demand in 2030 will stand ...


Key insights emerge as the 24th World Islamic Banking Conference kicks off in Bahrain

Key insights emerge as the 24th World Islamic Banking Conference kicks off in Bahrain

-Key highlights from the first day of the conference include the Governor’s Address, an exclusive interview trailing the vision for the next 40 years of Islamic Banking, the launch of the ICD-Thomson Reuters IFD Report 2017 and a fintech consortium of Islamic Banks and the WIBC Performance Awards honouring the top performing Islamic banks at the global, regional and country level.

Amwaj Islands, Kingdom of Bahrain, December 05 2017: Under the patronage of ...


Islamic Crowdfunding – A Gateway for Value Based Funding

by Prof. Nafis Alam and Lokesh Gupta  

Today, FinTech continue to be a driving force in the financial landscape of the economy. There has always been a demand for financial supports amongst individuals, entrepreneurs and Small & Medium Enterprise (SME), which remains unaddressed through existing financial institutions. FinTech startups are trying to fill this gap through Crowdfunding model using social platform. These platforms provide wider reach to individual for investing excess of funds and provide funding to those who needs it with valid purpose.

The concept of crowdfunding using Peer to Peer (P2P) model is evolving and is being used in increasingly creative ...


Industry Stalwarts set to headline the 24th World Islamic Banking Conference

-Key highlights at the 24th WIBC include: Keynote Speeches, CEO Power Debate, Digital Banking-focused Panel, Regulations Power Table, Report Launches and a Product Launch.

Amwaj Islands, Kingdom of Bahrain, November 30 2017: Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, the 24th edition of The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, will take place on December 4th, 5th & 6th in ...


WORLD HALAL DAY 2018 TO BE HELD in QATAR

QATAR: The “World Halal Day- 2018” is scheduled to take place in Doha, Qatar on 1st& 2nd November 2018.

Event Organized by United World Halal Development and Managed & Empowered by Qatar Chamber of Commerce, the 5thWorld Halal Day will include World Halal Assembly, World Halal Trade expo, Investors Meet, Halal Tech Works, B2B Networking Forum, Modest Fashion Show & Halal Excellence Awards.

World Halal Day is celebrated on the 1st of November every year with the objectives:  FOOD FOR ALL, UNITED AGAINST HUNGER & PRESERVE THE ...


24th World Islamic Banking Conference to highlight how effective leverage of digital technologies is paramount to retaining competitive edge

The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era.

Amwaj Islands, Kingdom of Bahrain, 22 November 2017: Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 24th edition of their flagship offering – The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and ...


Third Edition of the ISLAMICA 500 will be Released in Bahrain on 6 December 2017

Press Release

Published annually, the ISLAMICA 500 is THE business guide providing hard-to-find biographical details for 500 of the world’s most prominent and influential personalities in the Islamic world and economy.

Because the Islamic economy is multi-sectorial and global, the ISLAMICA 500 focuses on personalities beyond gender, nationality, religion and sectors. As such, this worldwide guide offers detailed profiles on the leading figures from different industries such as finance, science, business, politics, international affairs, law, and media.

Following the success of our previous editions, we are pleased to announce that our ...


Amanah Halal Research Centre Received “Innovation in Halal Education” Award

Amanah Halal Research Centre (Amanah HRC) received “Innovation in Halal Education” award during the prestigious World Halal Day event held in London on November 1, 2017 which was organized by United World Halal Development and HDCMICE Middle East.

London November 2, 2017: The “Innovation in Halal Education” awarded to Amanah HRC recognizes the commitment and dedication of the centre to provide innovative education and trainings about halal industry on a global level. Amanah HRC is the first organization to provide innovation in halal industry education by offering the following courses:

  • Post Graduate ...

IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency

Bitcoin ""puts a question mark on the fractional banking model we know today."

In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.  

Christine Lagarde–a Paris native who has held her position at the IMF since 2011–says the only substantial problems ...


World Development Report 2018 : Learning to Realize Education's Promise

Every year, the World Bank's World Development Report takes on a topic of central importance to global development. The 2018 Report, Learning to Realize Education's Promise, is the first ever devoted entirely to education. Now is an excellent time for it: education has long been critical for human welfare, but is even more so in a time of rapid economic change. The Report explores four main themes. First, education's promise: Education is a powerful instrument for eradicating poverty and promoting shared prosperity, but fulfilling its potential requires better policies - both within and outside the education system. ...


Protestations of Shock and Surprise about German Federal Election Results: Merkel – A Surprise Really?

by Prof. Reinhard Heinisch  

Protestations of shock and surprise in the German and international media about Merkel's "huge defeat" in the parliamentary elections are overblown and misplaced. Unlike the recent elections in the UK, the outcome of the German vote was neither a big surprise nor does it spell the end of Germany as we know it. The success of the right-wing populist Alternative for Germany (AfD) is disheartening, especially its strong showing in Eastern Germany and the Southern state of Bavaria – in the state of Saxony it emerged as the largest party – but is no grounds for hysteria.

FIRST Chancellor Merkel was unlikely to run ...


ECB to Publish New Unsecured Overnight Interest Rate

  • Overnight benchmark interest rates important for financial markets and monetary policy implementation
  • ECB overnight rate will complement existing benchmark rates produced by the private sector and serve as a backstop to private sector benchmark rates
  • Preparations for rate to be ...

TAKAFUL IN TANZANIA: A WAY FORWARD

by Khalfan Abdallah, CIFE  

Research conducted by Tanzania Insurance Regulatory Authority (TIRA) in 2011 had shown that there is unfulfilled demand of takaful products in Tanzania and that there are potential investors to fill the demand. In light of this, TIRA decided to study matters of licensing and supervision of Takaful companies from several jurisdictions, the result of which a draft regulation was proposed to important stakeholders in 2013.

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In Recent Years Scotland Has Become Synonymous With Ethical Finance: Stated Lord Muhammad Sheikh at Global Ethical Finance Forum 2017 in Edinburgh Scotland

by Lord Mohamed Sheikh  

2nd Global Ethical Finance Forum was convened by the Middle East Global Advisors* in Strategic Partnership with UKIFC and was hosted by RBS on Sept 13-14, 2017 in Edinburgh, Scotland. Lord Muhammad Sheikh delivered below keynote speech.

“As patron of the Islamic Finance Council UK (UKIFC) it is a distinct pleasure to be invited back to Edinburgh to speak at the second Global ...


Amanah Halal Research Centre Launches Certified Halal Auditor Online Study Program

Amanah Halal Research Centre has launched Certified Halal Auditor, an online 3 months study program.

September 16, 2017 (Germany): The global halal industry is only merely limited to Muslim countries but non-Muslim countries have also joined this multi-trillion-dollar industry. With the increasing interest in promising halal industry, the need for certified halal products is also increasing to satisfy consumers. However, the global halal industry ...


Personality Interview: Prof. Volker Nienhaus

Prof Dr Volker Nienhaus received his doctorate in economics (1979) and his post-doctorate (1985) from the University of Bochum. He was full professor of economics at the German universities of Trier (1989-1990) and Bochum (1990-2004) where he also was director of the Institute of Development Research and Development Policy and vice rector for structure, planning and finance from 2000 to 2003. He was president of the University of Marburg from 2004 to 2010. He holds an honorary professorship of the University of Bochum and an honorary doctorate of the I.M. Sechenov Moscow Medical Academy (since 2009).

He became a Visiting Professor at the ...


Global Report on Islamic Finance

The World Bank in collaboration with the Islamic Development Bank Group launched a report titled “Islamic Finance: Islamic Finance - A Catalyst for Shared Prosperity?” The report highlighted that income inequality has increased considerably in the aftermath of the financial crisis of 2007-08 to the extent that one percent of global population possess almost half of the global assets. It is believed that Islamic finance – a system which is based on shared values &...


Global Economic Prospects: A Fragile Recovery

The World Bank Group has recently launched a report titled “Global Economic Prospects: A Fragile Recovery” which shows that global growth is expected to strengthen in 2018-19. Global activity is firming broadly as expected. Manufacturing and trade are picking up, confidence is improving, and international financing conditions remain benign. In emerging market and developing economies (EMDEs), growth is predicted to recover in 2017-19, as obstacles to growth in commodity exporters diminish amid moderately rising ...


Doing Business 2017

Doing Business 2017: Equal Opportunity for All, a World Bank Group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the ...


Shell becomes latest energy disruptor

by admin  

The UK’s energy industry is braced for change as the world’s second-largest oil and gas company is to supply electricity.

Shell Energy Europe has announced plans to supply electricity to industrial customers in the UK. The move meets the multinational’s strategy ...