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The first woman to chair the International Ethics Standards Board for Accountants (IESBA), Gabriela Figueiredo Dias, of Portugal, intends to boost trust in accountants and auditors worldwide, whose profession has been undermined by public scandals, some highlighting conflicts of interest.

Speaking to Accounting & Business, she said another goal of her three-year term of office, which began on January 1, (2022), would be to formalise IESBA ethical standards for environmental, social, and governance (ESG) reporting and help the sector deal with disruptive technologies, such as artificial intelligence (AI).…

A memorandum of understanding has been signed by the IFRS Foundation with Canadian investment agency Montréal International to obtain financial support from the governments of Canada and Québec to establish a base in Montréal for the International Sustainability Standards Board (ISSB).…

THE CURRENT global energy crisis and its attendant price rises have had “a dramatic impact on the profitability of many companies” in the textile and clothing sector, and a European Union (EU)-wide cap on gas prices is essential, Dirk Vantyghem, director general of the European Apparel and Textile Confederation (Euratex), has told WTiN.…

Europe’s textile sector has said digital technologies will have a key role to play in implementing the European Union (EU) Strategy for Sustainable and Circular Textiles (1), which was released March (2022), to ensure that by 2030, textile products placed on the market are long-lived and recyclable.…

India’s production of pashmina, the most exclusive of the cashmere fibres, is to receive an important government boost through acquiring a geographical indication (GI) from India’s Geographical Indications Registry for product sourced and spun in the Himalayan region of Ladakh.

The government of the union territory of Ladakh, which runs the mountainous territory in which Indian pashmina is producer applied for the GI certificate last year (2021) and hopes to receive authorisation the next few months.…

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.”…

With Islamic finance strengthening and diversifying, service providers are increasingly targeting non-Islamic markets, competing directly with non-Islamic services. While demand in non-Islamic markets has historically been tied to factors spanning from real estate investment in GCC (Gulf Cooperation Council) economies to wealth management of non-Islamic countries’ Muslim minority populations, additional tailwinds are now deriving from Islamic finance’s closeness to the environmental, social, and governance (ESG) criteria used by socially conscious investors.…

Observers of the global Islamic finance industry are predicting significant imminent growth in sharia-compliant environmental and social governance (ESG) investment, as demand for financial institutions to deploy funds in ethical ways expands, along with awareness of climate change and social justice.…

The Muslim world is extremely diverse culturally, so it is no surprise that colour cosmetics trends are many and varied. However, one clear universal trend is that Muslim women are on average becoming more knowledgeable about make-up, especially with internet influencers spreading advice on products and techniques.…

The Covid-19 pandemic forced many AML/CFT practitioners to work remotely, forcing training away from the face-to-face learning that has been dominant in the past. But now, as the pandemic wanes, combining innovative remote AML/CFT learning practices developed during Covid-19 with longer established in-person training is under consideration.…