Search Results for: Pakistan

Pakistan’s Islamic retail banking sector is expected to see impressive growth in the years ahead, aided especially by an increase in Islamic mortgage lending as more faith-oriented customers choose Shariah finance when buying or building a home. Pakistan is the second most populous Muslim country in the world and the demand from its 227 million people for Islamic financial services are expanding fast – albeit from a low base.…

Pakistan’s retail banking sector is tapping into demand for Islamic consumer finance from religious-minded Pakistani expatriates via a government-backed digital accounts facility that enables remote buying of a property and a car in their home country.

In September 2020, the central bank, the State Bank of Pakistan (SBP), allowed the 8.6 million non-resident Pakistanis (NRPs) to open a bank account in Pakistan through a digital and online process, without any need to visit a bank branch in person.…

The New York state department of financial services (NYDFS) and the US Federal Reserve Board (FSB) have imposed penalties of USD35 million and USD20.4 million respectively on the National Bank of Pakistan over anti-money laundering (AML) failures. New York superintendent of financial services Adrienne Harris said the bank “allowed serious compliance deficiencies in its New York branch to persist for years despite repeated regulatory warnings.”…

Chinese finishers are increasingly recognising the ability of digital textile printing to offer outsourcing manufacturing hubs increased flexibility and production quality. Last October (2021), Guangzhou-based startup Youbu Information Technology Co announced it collected “tens of millions of RMB” – Chinese Yuan Renminbi (USD1 buys CNY6.35) from angel investors to transform China’s clothing supply chain with digital printing.…

The international growth of media content focused on Muslim cultural and Islamic religious interests is burgeoning, with companies expanding the reach of their output across national borders, developing an increasingly comprehensive ecosystem of programming delivered by broadcasting and internet-based apps.

The opening of the Dubai, United Arab Emirates (UAE) bureau of the Annahar Al Arabi digital news platform in January (2022) is one example of such cross-border growth, highlighting an appetite for regionally-relevant content in the Gulf region.…

INTRODUCTION

The Covid-19 pandemic has sparked a reassessment of the model of relying on one or two outsourcing locations. It has demonstrated that when there is a major disruption caused by an emergency as serious as a pandemic, shipping and industrial processing can be disrupted.…

Fraud in the global halal food sector is emerging as a widespread problem. A series of scandals have rocked the industry worldwide, and shone a spotlight on the difficulty of eliminating non-halal practices from increasingly large and complicated food supply chains. …

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.…

Spain has been expanding its halal tourism and food sales, as it leverages its geographical proximity to Muslim countries in north Africa to provide travel and accommodation services.

In the CrescentRating Global Muslim Travel Index 2021, by CrescentRating & Mastercard, Spain climbed six positions to the 16th in the top non-Organisation of Islamic Cooperation (OIC) destinations (https://www.crescentrating.com/reports/global-muslim-travel-index-2021.html).…

Halal experts and animal welfare activists around the world are seeking common ground on how to keep and slaughter animals in the most humane ways possible. Halal certification systems that forbid pre-slaughter stunning as haram is becoming an increasingly acute issue for countries with strong animal welfare culture traditions and growing Muslim populations.…