News and updates from the Barakah Insider editorial team.
Halal Industry
The global halal industry is projected to achieve an extraordinary value of $6.7 trillion by the end of 2024, as reported by Ahmad Kawesa Sengendo, Assistant Secretary-General for Economic Affairs at the Organisation of Islamic Cooperation (OIC). This notable figure underscores the rapid and expansive growth of the halal
Events
The Afghanistan Chamber of Commerce and Investment (ACCI) and Investment has confirmed that the third Imam Abu Hanifa Trade Expo will take place in Kabul on October 6, marking a significant event in the nation’s efforts to boost economic ties with regional and international partners. The seven-day exhibition will
Events
Sami Hamdi, Managing Director of The International Interest and a leading geopolitical analyst, has been announced as the keynote speaker for the GMW Summit, scheduled to take place in Doha from November 24 to November 28. The event, held at the sprawling Education City, will bring together global innovators, entrepreneurs,
Islamic Finance
Jordanian business expert and Islamic finance specialist, Dr. Raed El Omari, has released his latest work, Ethical Investment in Islam: Principles and Practices. The book offers a comprehensive guide to Shariah-compliant investments, designed for scholars, finance professionals, and investors interested in ethical finance. Dr. Raed El Omari is a distinguished
Islamic Finance
Fasset, a UAE-based fintech platform, has launched IOWN, an Ethereum Layer 2 blockchain dedicated to Real World Asset (RWA) ownership. This development follows Fasset's recent approval of its Credit Token Licence from the Labuan Financial Services Authority (Labuan FSA), the regulator overseeing Labuan IBFC in Malaysia. IOWN – an
Culture
Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of the National Interactive Entertainment Company (QSAS), a new initiative dedicated to creating immersive experiences inspired by the country's heritage and Islamic history. According to a press release, QSAS will enrich Saudi Arabia's cultural landscape
Halal Industry
The Malaysia International Halal Showcase (MIHAS) 2024, the world's largest halal trade fair, has become a key platform for global players eyeing the rapidly expanding halal market, valued at over USD 3 trillion. This year’s showcase in Kuala Lumpur reflects the increasing global interest in halal products
Halal Industry
Malaysia's Deputy Prime Minister, Datuk Seri Dr. Ahmad Zahid Hamidi, has affirmed that non-Muslim business operators will not be compelled to obtain halal certification. He clarified that the government has not introduced any policy mandating restaurants or food and beverage (F&B) businesses nationwide to secure halal
Policy
Türkiye has unveiled a new visa initiative aimed at simplifying the process for foreign entrepreneurs and highly skilled professionals to obtain work permits, as part of its broader strategy to attract high-value tech startups to the country. The Türkiye TechVisa Program, launched on Monday, is a collaborative effort between the
Startups
Last week, Muslim Tech Fest made its U.S. debut, bringing together over 350 attendees at the Sunnyvale Convention Center on September 8, 2024. The event focused on celebrating Muslim talent and innovation in the tech industry, offering a platform for entrepreneurs and professionals to connect and share ideas. The
Islamic Finance
Islamic banks in the Gulf Cooperation Council (GCC) are poised to outpace conventional banks in growth, driven by rising demand for Shariah-compliant financial products and the resilience of their profit margins, according to a report by Moody’s Investors Service. The report highlights that Islamic banks’ fixed-rate retail financing models
Islamic Finance
The Maldives is scrambling to secure a financial lifeline to avoid becoming the first nation to default on a sovereign sukuk, a key form of Islamic debt. The island nation faces a critical payment deadline in October, and with dwindling foreign reserves, the price of its $500 million sukuk has