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The tobacco industry is a global sector, with supply chains spanning the world. Muslim consumers – and there are 1.97 billion if them – are an important part of any tobacco major’s market portfolio, not to mention local Muslim companies. But a key challenge for tobacco companies targeting Muslim smokers, vapers and other consumers is religion – some Muslim scholars say tobacco is haram, and not in keeping with Islamic guidance, because of mental and physical impact on smokers.…

British banking trade association UK Finance is warning that “the level of fraud in the UK has reached a point where it must be considered a national security threat”. In its ‘2022 half year fraud update’ (1), it said that despite spending billions on fraud prevention, “the banking sector cannot solve this on its own.”…

In recent years, Iranians have been driving growth in the Middle East’s cosmetics market, but worsening economic and political developments in Iran have restricted this growth. That has not deterred some personal care product companies, however, who continue to prosper in the country, whose market of 84 million people has significant potential.…

FinCEN (Financial Crimes Enforcement Network), the USA’s FIU, has been implementing detailed reforms to the country’s AML/CFT regulatory system that had been authorised by the country’s Anti-Money Laundering Act (AMLA). Passed by Congress in January 2021, overriding a veto of former President Donald Trump, a key plank of the reforms has been strengthening the USA’s previously anaemic efforts on UBO controls, which had been found wanting by past FATF MERs.…

The exchange of intelligence is a key element of AML/CFT, with FATF’s recommendations 36 to 40 focusing on international cooperation. The Egmont Group of FIUs also continues to hone how it securely delivers exchanges of sensitive AML/CFT information between its 167 members.…

Anti-fraud professionals are offered substantial amounts of training, conferences and mentoring – but a lot can be learned the old-fashioned way – with an informative book. There are guides for the relatively uninitiated. Take ‘The Complete Idiot’s Guide to Private Investigating, Third Edition: Discover How the Pros Uncover the Facts and Get to the Truth’ by Steven Kerry Brown.…

The Indonesian government is ramping up its requirement for government-funded construction to use locally-made products by insisting paint and coatings manufacturers seeking to supply such projects use national standardisation and certifications.

This, said the chairman of the Indonesian Paint and Coatings Association, Markus Winarto, is part of a trade ministry directorate general of chemical, pharmaceutical and textile industries campaign to reduce imported products.…

The Greece higher education sector is sharply increasing the number of English-taught short-term higher education (HE) courses that operate in collaboration with foreign universities. According to Christos Michalakelis, co-founder and president of Study in Greece (SiG), the official organisation promoting internationalisation within Greek HE, short-term courses yielding student academic credits, is a stepping stone “towards internationalising Greek universities”.…

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.…