A unified pan-Arab framework for the mutual recognition of halal products and services certificates was announced in the UAE on Monday in a step aiming to enhance the competitiveness of halal food in international markets.

The announcement of the programme was made at the Arab Industrial Development and Mining Organization pavilion in the 4th Global Halal Industry Platform"...

With demand for financial products conforming to Islamic principles soaring, Shariah banking in Indonesia is poised for a phase of rapid growth, according to the nation’s largest Islamic bank.
Shariah banking assets have broken out of the “5% market trap” that it was in for a long time thanks to a wave of halal lifestyle sweeping the world’s largest Muslim-majority country, said Toni Eko Boy Subari, president director of PT Bank Syariah Mandiri. The lender expects its financing to expand 11 to"...

Abu Dhabi Islamic Bank (ADIB) reported on Monday 8.7 per cent rise in 2018 net profit to Dh2.5 billion compared to Dh2.3 billion in the previous year, driven by a growth in customer financing and an improvement in provisioning.

The bank said group net revenues increased by 2.4 per cent to Dh5.769 billion compared to Dh5.632 billion in 2017.
The bank said in a statement that the performance was also supported by higher fee income, controlled"...

KUALA LUMPUR: The word halal is most commonly associated with food and drink. But in Malaysia demand for halal-certified products across all sectors — including personal care — is growing.

The southeast Asian country wants to be a global halal hub and, in 2017, the local halal industry contributed approximately 7.5 percent to Malaysia’s gross domestic product.

“Malaysia"...

Boeing is considering offering Islamic finance tools as a way for its Middle East and Africa customers to fund aircraft purchases and diversify their financing sources.

Boeing Capital, the financing arm of the world's biggest planemaker, could partner with a bank or financial institution in the region to create a shariah-compliant aircraft financing product, Vasgen Edwards, managing director for Middle East Africa customer finance, said to on"...

Kuwaiti Minister of Awqaf and Islamic Affairs and Minister of State for Municipal Affairs Fahd Al­Shula said on Saturday that Kuwait's Zakat House is the pride of Kuwait and its people, thanks to its humanitarian and charity work.

This came during the minister's chairmanship of Zakat House's board meeting during which he reviewed a report on performance indicators and progress of work in various sectors of Zakat House during the"...