bank regulations
Islamic finance faces growth challenges
By Jennifer Pak | BBC News | KL | 08 Dec 2012
A steady flow of women wearing hijabs, or Muslim head veils, enter HSBC's Amanah branch in the Malaysian capital of Kuala Lumpur during lunch hour.
It's brisk business for the UK lender, which was one of the first global banks to offer Islamic finance - a field that is slowly starting to rival conventional banking in predominantly Muslim countries such as this one.
Islamic finance is based on gaining profits in a socially responsible manner.
Review details how Afghan execs looted Kabul Bank
By Deb Riechmann | AP | 28 Nov 2012
Hundreds of millions of dollars from Kabul Bank were spirited out of Afghanistan — some smuggled in airline food trays — to bank accounts in more than two dozen countries, according to an independent review released on Wednesday about massive fraud that led to the collapse of the nation’s largest financial institution.
The Rothschilds Want Iran’s Banks
By Pete Papaherakles | American Free Press | 13 Feb 2012
Could gaining control of the Central Bank of the Islamic Republic of Iran (CBI) be one of the main reasons that Iran is being targeted by Western and Israeli powers? As tensions are building up for an unthinkable war with Iran, it is worth exploring Iran’s banking system compared to its U.S., British and Israeli counterparts.
EUROPE AND NORTH AMERICA
By Dr. Mahathir bin Mohamad | Kuala Lumpur | 24 Jan 2012
1. Ever since the Europeans and this includes the Americans, lost to the Eastern countries in the manufactured goods markets, they have switched to the financial market. Through the many products they created in this market they seem to be able to grow and maintain their wealth and prosperity as shown by such indices as the GDP and Per Capita income.
IDB chief urges EU not to repeat mistakes of the past
By Mushtak Parker | Arab News | Madrid / 04 Dec 2011
Ahmad Mohamed Ali, the president of the Islamic Development Bank (IDB), the multilateral development agency of the Muslim world, has warned that the euro zone sovereign debt crisis is adversely affecting the Bank's member countries and urged European leaders to come up with the right solutions and not to repeat the mistakes of the past.
Revealed – the capitalist network that runs the world
by Andy Coghlan and Debora MacKenzie : New Science | 19 Oct 2011
As protesters against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
Sharia Banking Goes Bankrupt
By : Tarek Fatah : Huffington Post | Toronto / 17 Oct 2011
The leading promoter of Sharia banking in Canada, UM Financial Inc. has gone into receivership without much fanfare. None of the nation's newspapers have bothered to report the development, despite the fact it could possibly affect hundreds of homeowners. Had it not been for a tweet by an affected Muslim homeowner looking for a lawyer, the story of UM Financial going broke would have escaped even the scant attention the news received on social media.
Tweeting under the username @UM_FinanceBROKE, the tweeter wrote:
What is money?
By : Dan Hind | Al Jazeera / 16 Oct 2011
We spend a lot of time thinking about money, one way or another. We think about how to get our hands on it, how to keep it safe and how to spend it. When we aren't asleep, there's a good chance that we're paying attention to money. But while money is never far from our thoughts, there is something curious about our relationship with it. For all that we use it to get through the day, most of us don't know what it is.
Islamic banking divides Nigerian religious leaders
Source : Scott Stearns | VOA
Lagos | 15 Jul 2011
Nigeria is introducing Islamic banking to bring more of the nation's estimated 70 million Muslims into the economy. But many prominent Christian leaders say it will further inflame religious violence.
How it works
Islamic law prohibits paying or receiving interest or investing in businesses that provide goods or services that are contrary to Islamic principles.
IMF warns of crisis, cuts US growth forecast
Source : Reuters
SAO PAULO | 17 Jun 2011
The International Monetary Fund cut its forecast for US economic growth on Friday and warned Washington and debt-ridden European countries that they are “playing with fire” unless they take immediate steps to reduce their budget deficits.
The IMF, in its regular assessment of global economic prospects, said bigger threats to growth had emerged since its previous report in April, citing the euro zone debt crisis and signs of overheating in emerging market economies.
