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Speaking at the event on Friday (Feb 17), Mark Carney, UN special envoy for climate action and finance, and former central bank governor for the UK and Canada, said of the baseline: “It’s critical. You need compatible information.”  

Mr Carney stressed ongoing discussions between the ISSB and major jurisdictions, such as the EU (European Union), the USA and Japan, about the need for regulatory harmony.…

Bulgaria’s new government has promised to fight corruption and challenge the country’s reputation as the European Union’s (EU) worst blackspot for graft. The new Bulgarian Prime Minister Kiril Petkov defeated former PM Boyko Borissov last November amidst demonstrations against government corruption.…

Financial professionals involved in AML/CFT are facing a growing set of professional, regulatory and technical pressures, from top AMLO managers to the front-facing staff onboarding customers, and backroom technical staff screening transactions. AML/CFT regulations in most jurisdictions are becoming increasingly broad and detailed, with implementation and enforcement ramping up.…

The global market for halal nutraceutical products, including vitamins and wellbeing supplements, is set to double over the next 10 years, according to new research. A report from Dubai-based Future Market Insights (https://www.futuremarketinsights.com/reports/halal-nutraceuticals-and-vaccines-market), published last July (2021), predicted sales of these products would increase from USD58.01 billion in 2021 to USD116.38 billion by 2031.…

INTRODUCTION 

ACCOUNTING used to be restricted to financially measurable matters of profit and loss; expenditure and revenue; taxes and subsidies; investment and liabilities. But the mathematical and statistical skills underpinning a solid set of books and filed accounts are today increasingly being used to measure the environmental and social sustainability of a product, input, production process and supply chain.…

Japan may become a significant market for the halal food sector in future, predicts the Japan Halal Association, whose members are looking ahead to sustained growth once the Covid-19 pandemic ebbs. Faslin Mohammed Lafir, head of halal certification and international relations, of the Japan Halal Association, stressed that the country’s Muslim population is around 120,000 individuals at present, with an estimated 10,000 Japanese converting to the religion every year, boosting potential halal sales.…

Malaysia is expected to launch in January a detailed (although voluntary) halal certification for medical devices in an innovative regulatory move, making the country a world leader in this segment.

Its government published a halal medical device standard in September 2019, known as MS2636, but the halal division of the Malaysian Islamic Development Department (JAKIM) agency has since been enhancing “their online system” and staff, since the new “scheme for halal medical devices must comply with other requirements”, Johari Ab Latiff, senior assistant director at JAKIM’s Malaysia Halal Council Secretariat, told Salaam Gateway.…

Accountants in the European Union (EU) are facing the launch of a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF), designed to stem the flow of dirty money across borders.

These are huge. Impossible to count accurately, but the UN Office on Drugs and Crime (UNODC) has estimated that USD2 trillion is laundered annually worldwide from all types of crime, from tax evasion to sanctions busting and drug trafficking to white collar fraud.…

Spain, which in the early Middle Ages was part of Islamic state called Al-Andalus – remembered as a golden age of Spanish tolerance and reason – has finally started to seriously play to win in the global halal market, through tourism and exports.…