Category: Muslim World

OIC not Happy with Afghan Govt on Girl Education

Jeddah: The Organization of Islamic Cooperation (OIC) expressed its displeasure with the de facto government of Afghanistan’s decision to continue an earlier ban on girls’ schools. According to the Organization’s General Secretariat press note issued on March 30, the Afghan government made an unexpected move that gives cause for concern. “Though the General Secretariat recognizes…

Saudi Islamic Finance Close to $800bn, Kingdom Ranks First in the World: SAMA Official

RIYADH: The Islamic financial industry in Saudi Arabia has a prominent position in the world, with nearly SR3 trillion ($799.7 billion) of total assets, the Saudi Central Bank Deputy Governor for Research and International Affairs, Fahad Abdullah Al-Dossari, said. This represents approximately 28 percent of the total Islamic financial assets globally, making the Kingdom the…

Pakistan’s top Islamic court asks govt to implement an interest-free banking system by 2027

Islamabad(PTI): Pakistan’s top Islamic court, on April 28, 2022, declared the prevailing interest-based banking system against the Sharia law and directed the government to replace it with an interest-free system by the end of 2027. Announcing the verdict in a long-pending case on Riba (interest), the Federal Shariat Court (FSC) directed the government to facilitate…