Search Results for: South Africa

Sharia-compliant financial technology (fintech) is poised for explosive growth across both Islamic and western jurisdictions. 

In part this reflects growth in Islamic finance: Refinitiv, an American-British global provider of financial market data owned by the London Stock Exchange (LSE), predicts the value of money transacted through the Islamic finance sector will reach USD4.9 trillion by 2025. …

Halal hunted game meat is becoming more popular as a healthier and premium alternative product in wealthier countries with large Muslim communities.

There are no international standards for halal game, but, according to The New Muslim Guide (https://www.newmuslimguide.com/en/your-food-and-drink/66, written by author Fahd ibn Saalim Baa Hammaam, working with Islamic scholars, “Muslims are permitted to hunt lawful animals and birds which cannot be easily caught and slaughtered”, so long as they are eaten.…

While the Islamic State in Iraq and Syria (ISIS) is a shadow of its former self in the Middle East, it has spawned global affiliates and is still very much in business, posing ongoing terrorist financing threats.

At the peak of its power as a self-declared Islamic Caliphate in 2015, ISIS controlled around a third of Syria’s territory and 40%of Iraq, with some 7.7 million people under its rule.…

Bulk cash smuggling remains a favoured way for criminals to move dirty money, despite the increase in electronic means to transfer the proceeds of crime, such as new cryptocurrency services.

In its most recent 2020 National Drug Threat Assessment, the US Drug Enforcement Agency (DEA) said in 2019, there were more than 3,000 bulk currency seizures in the United States, with more than USD368 million taken, 62% up from the USD227 million seized in 2018 (although that followed eight years when the value of bulk cash seizures fell).…

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.…

Sri Lanka’s clothing export sector is facing economic and political chaos in its island country as its President Gotabaya Rajapaksa imposed a state of emergency on Friday (April 6) amidst spiralling protests and foreign currency reserves collapsing to below USD50 million.…

Switzerland-based multinational mining and energy group Glencore will pay almost USD1.2 billion in fines and penalties to the US, UK and Brazil for corrupt and dishonest trading, including bribing African officials and illicitly manipulating oil market prices.

With prosecutorial investigations continuing in the Netherlands and Switzerland, Glencore said yesterday (Tuesday 24/5) that it would set aside USD1.5 billion to settle all cases relating to this malpractice.…

While Europe is abuzz with policy discussions about extending the life of existing nuclear power plants, amidst growing concern about the need to wean the continent from dependence on Russian fossil fuels, this electricity source has continued to enjoy support in Asia.…

Egypt is being asked to roll back policies aimed at restricting clothing and textile imports, facing a tough diplomatic response from the European Union (EU), which has launched a disputes case at the World Trade Organisation (WTO).

In 2016, Egypt introduced a decree (1) requiring importers of goods, including textiles, clothing and furnishing fabrics, to be registered with the General Organization for Export and Import Control (GOEIC).…

The Covid-19 pandemic has been a disruptive force across the clothing and textile industry, and it has affected consumer taste as well as shaking up supply chains, notably in home textiles, which are increasingly finished by digital printing.

With changes in demand proving very fluid because of lockdown lives lived at home, and an increase in underlying personal stress, digital printing designs have sought to tap a need for feelings of wellness and calm.…