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FATF has announced it will “severely limit” Russia’s role within FATF, following it invasion of Ukraine, which as of June 17 had killed 4,509 civilians (UN figures). Following its plenary from June 14-17, FATF announced Russia “can no longer hold any leadership or advisory roles or take part in decision-making on standard-setting, FATF peer review processes, governance and membership matters”.…

National risk assessments (NRAs) for money laundering and terrorist financing, required by the Financial Action Task Force (FATF) since 2012, are not comparable nor based on sound methodology, according to a new World Bank study (1) ‘National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs’.…

International legal arbitration systems and judicial standards are emerging to help solve complex Islamic finance disputes, while national judicial and informal dispute resolution systems continue to develop – in civil and religious law institutions.

Informal dispute resolution processes can, of course, resolve disagreements without recourse to the payment of damage and potentially without damaging valuable reputations.…

The global ‘cultured’ artificially-produced meat market may be set to soar amid greater environment-friendly government policies worldwide, investment and the growth in green consumerism, but questions remain if this novel food can be recognised as halal.

Cultured meat (also known as lab-grown or cultivated meat) is typically produced by harvesting cells from a living animal and cultivating them outside the animal’s body using tissue engineering and cellular agriculture to form cuts of meat.…

The costs of investigating fraud have increased over the past three years, according to 79% of respondents to a global survey, with 26% overall and 49% of companies with a turnover of more than USD15 billion seeing this increase as significant, said risk assessment specialists Kroll.…

INTRODUCTION

In the competitive and innovative world of smart textile manufacturing and sale, companies strive to maximise functionality and minimise costs. Their ingenuity is the basis of their competitiveness. But as with all industries, some costs are out of their control.…

INTRODUCTION 

The connection of information and operational technology through smart factories makes for undeniable improvements in manufacturing efficiencies, in output and cost. But all new technologies spark fresh vulnerabilities for attacks by criminals. Given the latent strength of smart factories is in connectivity, cyber-attacks are their most important illicit threat.…

The gap between halal and natural beauty is narrowing down as halal beauty brands integrate more natural and vegan ingredients into their products, and global cosmetics companies use more ingredients that are inherently halal.

“In essence, the majority of halal ingredients are of non-meat origin, hence vegan products, for example, are by default usually halal,” Amna Abbas, consultant for beauty and fashion at Euromonitor International told Salaam Gateway.…

Russia’s unprovoked invasion of Ukraine has disrupted the supplies of food, especially cereals, to major halal food markets, with Ukraine and Russia togethering controlling around 30% of the global wheat trade. The military action, which the UN said on April 17 had killed 2,072 civilians, has put the Middle East and North Africa in a tight position over food supplies, especially given the region’s economies have been weakened by the Covid-19 crisis.…

Halal certification systems are many and varied worldwide, but if they have one uniting feature, it is their use of logos, affixed to products, buildings and publicity, to promote the importance of their guidelines.

These symbols are important to certification bodies, and time and imagination is spent on making them distinct, even if their designs are not universally popular.…