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Enforcement action to tackle foreign bribery in compliance with the OECD Anti-Bribery Convention (1) declined from 2018 to 2021, according to Transparency International (TI), after reviewing 47 leading export economies. These were 43 convention signatories plus China, India, Hong Kong and Singapore.…

Continuing to fight supply-chain snarls, material shortages, inflation woes, and a stubborn pandemic, the US paint and coatings industry produced 1.3 billion American gallons (4.9 billion litres) valued at USD27.2 billion (US dollars) in 2021.

That is according to The ChemQuest Group, a global specialty chemicals and materials consulting service based in Cincinnati, Ohio, USA, which said this production was an increase of just 0.1% in volume and 8.6% in value over the previous year.…

FATF and Interpol have launched an initiative that will see both agencies work together to improve the seizure of criminal assets, a key priority of the AML body’s new president T Raja Kumar’s upcoming two-year term.

A joint communiqué issued after a FATF-INTERPOL Roundtable Engagement (FIRE) event in Singapore wrapped up yesterday (Sept 13) said both organisations would “reinforce international law enforcement and judicial networks that work on asset recovery and the tools available…”

This included a review “to strengthen the FATF’s standards so that countries are better equipped to act effectively at every stage of the asset recovery process”.…

Anti-fraud managers see the same old tricks and swindles repeatedly, even if repackaged and more digitalised than in the past. But why do people keep falling for well-worn scams?

To some extent it is that there are more fraud attempts targeting more people, who lack experience of such deception.…

A lack of reliable data across Africa has weakened policies to improve higher education across the continent, development experts argue. They claim the problem is compromising the achievement of the UN’s Sustainable Development Goal (SDG 4) (1) to leave no one behind in tertiary education by 2030, even though several local data development initiatives are trying to improve the flow of useful statistics.…

United Arab Emirates (UAE)-based Pure Harvest Smart Farms plans to raise funding through a new sukuk (Islamic bond) to support its food-security driven expansion plans, Tariq Sanad, the company’s chief financial officer, told Salaam Gateway.

The agritech firm’s breakthrough farming system that can produce year-round crops in the desert has attracted a diverse mix of investors since its inception in 2016.…

INTRODUCTION 

With the textile industry under pressure from consumers, regulators and standards to become more sustainable, companies are looking at all aspects of the supply chain – including upstream to fibre production. Digitalisation has a key role to play here, especially in supplier countries where the use of such technology is weak – such as in Africa.…

Cambodia’s clothing sector may continue to face challenges over its weak backward linkages and pressure to increase wages – balancing reasonable pay with international competitiveness in price sensitive markets – but its apparel export receipts remain healthy. The country’s clothing export earnings were not seriously damaged by the Covid-19 pandemic, which had a relatively light impact on Cambodia.…

INTRODUCTION 

Customisation is a key trend for a clothing and textile industry that looking to harness new technology to deliver consumer choice and flexibility over supply chains, including reshoring. The advent of artificial intelligence (AI) and machine learning, in addition to widespread automation of processes throughout the garment supply chain, has been hailed as a game changer.…

A lack of common international Islamic financial regulatory system is hindering the development of Islamic social finance instruments, causing a dearth of good practice solutions that could effectively fight poverty, say experts.

In the February 2021 issue of the ISRA (International Shari’ah Research Academy) International Journal of Islamic Finance, Abdulsalam Ahmed Sawmar and his co-authors say one key element of Muslim charity – zakat (obligatory charity) – historically, “has been an integral part of the Islamic economic system because of its sizable impact in achieving social harmony and preserving decent living standard for the needy segments of Muslim communities.”…