Blockchain for Cross-border Payments: A Practition’s Perspective

by Lisa Nestor  

It’s an exciting, if not challenging time for banks as they absorb, digest and develop strategies around blockchain technology. Without question, it will change many fundamental operations within the financial industry. One such operation is payments.

At Stellar.org, we have developed a global, open-source blockchain protocol for payments. It was my pleasure to share the details of this protocol at the recent Blockchain for Financial Services conference in Dublin. This time, coupled with my standard description Stellar’s asset issuance capability (think: counterparty-backed digital Euro, Dirham or Yen) and decentralized exchange – I ...


World Halal Day to be Held this Year in London to Build One Community Concept to Overcome the Most Pressing Challenges Jointly: Message from the Organizers

by Mohamed Jinna and Asad Sajjad  

       

United World Halal Development, Halal Development Council and HDCMICE Middle East are set to organize the historical World Halal Day at the Olympia Exhibition Centre in London on Oct 30- 2nd Nov 2017.

The observation of World Halal Day on 1st of November every year is to promote and strive to build One Community regardless of any diversity and to unite everyone in the world with the basic principles of Food for All, United against Hunger, One human community and Preservation of Nature. Apart from the trade and commercial aspects, these principles ...


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. &...


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 ...


World Bank Study: Entrepreneur Training Focused on Mindset Proves More Effective Than Traditional Business Skills in West Africa

New World Bank study, jointly released with the National University of Singapore Business School, and Leuphana University today reveals that psychology-based entrepreneur training programs are outperforming traditional business trainings amongst microentrepreneurs in West Africa, translating into increased firm profits by 30% compared to 11% for traditional business training.

The results, published in the journal Science, ...


Global Economic Crisis: Challenges and Future Prospects of Islamic Banking Institutions

by Dr. Abdul Nasir bin Haji Abdul Rani  

The global economic crisis basically involves a prolonged significant decline in the economic activities of the country and worldwide due to various economic factors such as inflation, financial crisis, and an increase in interest rate. This crisis is known as Economic Depression. Meanwhile, the depression can become worse when hyperinflation hits the economy and resulted to an Economic Collapse.

The economic crisis has ...


Economic Growth Must Be Inclusive And To The Benefit Of All In Our Society: Stated Keith Brown MSP at Global Ethical Finance Forum 2017

 

2nd Global Ethical Finance Forum was convened by Middle East Global Advisors* in Strategic Partnership with UKIFC and was hosted by RBS on Sept 13-14, 2017 in Edinburgh, Scotland. Keith Brown MSP (Cabinet Secretary for the Economy, Jobs and Fair Work, Scottish Government) delivered below keynote speech.

“Thank you Omar [Shaikh, head of ...


UKIFC Has Taken a Leading Role in Promoting the Ethical Finance Sector in Edinburgh: Says Omar Sheikh

Omar Sheikh, the Advisory Board Member of the UK Islamic Finance Council delivered below key note address at the Global Ethical Finance Forum 2017 which was held at the Royal Bank of Scotland in Edinburgh. The event was organized by Middle East Global Advisors* in strategic partnership with UKIFC.

 "My Lord, Lord Provost, Cabinet Minister, Distinguished Guests, Ladies and Gentlemen


World Green Economy Summit: To Create a Facilitative Environment and Ecosystem For Sustainable Green Growth

The World Green Economy Summit (WGES) is one of the leading global forums on the green economy. It brings together world-class experts in critical sectors from around the world to directly focus on advancing the global green economy and sustainability agenda, achieving the UN Sustainable Development Goals and implementing the recommendations of COP21 & 22.

Organised by the Dubai Electricity & Water Authority and World Green ...


M-Pesa: a Kenyan Innovation for Financial Inclusion

by Maria Cristina Torrado, EY Middle East  

Without a bank account, it is a daunting task to make all payments through cash. Nowadays, paying bills can be a mission (finding an office and standing in a queue) but on the other hand, keeping all your savings “under the mattress” can be dangerous and poised to theft. In this situation, payments through mobile and other means have gained significant attention around ...


World Halal Day to be Held this Year in London to Build One Community Concept to Overcome the Most Pressing Challenges Jointly: Message from the Organizers

by Mohamed Jinna and Asad Sajjad  

       

United World Halal Development, Halal Development Council and HDCMICE Middle East are set to organize the historical World Halal Day at the Olympia Exhibition Centre in London on Oct 30- 2nd Nov 2017.

The observation of World Halal Day on 1st of November every year is to promote and strive to build One Community regardless of any diversity and to unite everyone in the world with the basic principles of Food for All, United against Hunger, One human community and Preservation of Nature. Apart from the trade and commercial aspects, these principles ...


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. &...


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 ...


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 &...


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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Is Kangaroo on the Menu?: While Kangaroo meat may not be on the menu, it is certainly in the list of halal animals.

by Dr. Najeeb Zada  

According to some latest news, the Australians are worried about the increasing number of Kangaroos in the country. The people have been asked to increase their consumption of Kangaroo’s meat which are numbered at about 45 million, almost double the population of the country. An alarming increase in kangaroo population has been reported during the last few years and it is indeed a cause of worry for the authorities and rightly so. However, very few ...