By Yaroslav Lissovolik In recent years, shortages and insecurities have increasingly afflicted the global economy as it was grappling with issues such as supply-side disruptions, energy shortages and food security concerns. In the field of international finance, the world’s central banks had their fair share of risks, with one of the key shortages being the sore […]
There is a camel in Hanifa Deen’s kitchen. He looks down at her as she cooks, eyes proud yet warm, delicately flared snout-smelling dinner. While the creature is merely an image on a poster, Deen, who has written several books on Islam in Australia, regards him affectionately. “It looks like such a regal creature, such a […]
Islamic finance is a system of financial intermediation that is consistent with the principles of sharia, or Islamic law. At its core, Islamic finance prohibits the charging or paying of interest, which is considered usury (riba) and is haram (forbidden) under Islamic law. Instead, Islamic finance promotes the principle of risk-sharing, where profits and losses […]
By Kent Mensah Doris Oduro sits at her small, almost-empty store in Odorkor, a suburb of Ghana’s capital, Accra. The single mother of two feels frustrated. After 15 years in business, she is now considering closing because she cannot restock her shop due to the high cost of living. “I am running at a big loss,” Oduro, […]
As we gracefully transit into a new year, 2023, I wish to personally reach out to you all to ask you to make special du’a (prayers) for the Africa Islamic Economic Foundation. But foremost, a brief introduction: The Africa Islamic Economic Foundation (AFRIEF) was registered in the Republic of Ghana on the 13th December, 2013 […]
By Dan Burns For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. The new year is going to be “tougher than the […]
“Manafee” Partnership Launched in Saudi Arabia In the midst of the strenuous efforts to promote the economic and social development of OIC member countries, and under the patronage of the Minister of Commerce and Acting Minister of Media of the Kingdom of Saudi Arabia, H.E. Dr. Majid bin Abdullah Al-Qasabi, a ceremony has been […]
Islamic finance, also known as sharia-compliant finance, is a financial system that is based on principles of fairness, transparency, and ethical investment. It is an increasingly popular option for people of all faiths who are looking for a financial system that aligns with their values and beliefs. In this blog post, we will explore some […]
By Jeph Ajobaju Export processing zones have attracted $46.6 billion investment, Nigeria Export Processing Zones Authority (NEPZA) Managing Director Adesoji Adesugba disclosed at the 30th anniversary of free trade zones scheme. He said Free Trade Zones (FTZs) are meeting their objective of fast-tracking economic growth and industrialisation. FTZs regulated by NEPZA have attracted over $30 […]
By Dr Dalal Aassouli The financial industry can play a critical role in building a stable and prosperous economy when it is managed with accountability. This requires redirecting investments into economic activities that deliver a good balance between economic, environmental and social objectives in order to promote human well-being and mitigate global challenges such as […]
