Latest Updates: halal banking RSS

  • johnpi 8:48 am on October 31, 2009 | 1 Permalink | Reply
    Tags: , , , halal banking, halal collagen, , halal non-alcoholic beer, , halal vinegar, ,

    Malaysia hopes to create world halal standard.

    “Malaysia’s halal certification is recognized worldwide so perhaps we can play an important role in creating a global standard,” Malaysia’s religious affairs minister Jamil Khir Baharom said in an interview on Thursday. “We need a halal certification that everyone can use easily.”

    The halal industry is based on a belief that Muslims should eat food and use goods such as cosmetics that are ‘halalan toyibban’, which means permissible and wholesome.

    But Muslim jurists do not always agree on what is halal. Islam prohibits the consumption of pork and prescribes how animals must be slaughtered, but there has been debate on the acceptability of non-alcoholic beer, collagen and vinegar.

    Rules are interpreted and enforced more strictly in some countries. Sudanese authorities have hauled up women for wearing trousers and a Malaysian woman has been sentenced to a beating for drinking beer, practices which are acceptable in some Muslim countries.

     
  • johnpi 8:41 pm on October 27, 2009 | 0 Permalink | Reply
    Tags: , , halal banking, , , , , ,

    First women-only bank opens in Iraq holy city.

    In one of Shi’ite Islam’s holiest cities, a bank has opened a branch only for women, hoping to tap a potentially large market and meet pent-up demand from Muslim women for financial services that meet their needs.

    The manager of the Najaf branch of the private Babel bank is, however, a man. He must make an appointment before making a visit and enter the premises through a back door.

    “Through this bank they (women customers) can unveil and exercise complete freedom in dealing with the employees,” said Mazen Abdul-Razzaq, Babel’s deputy director.

    A study by The Boston Consulting Group, which included Iraq, found that women worldwide were particularly dissatisfied when it came to financial services.

    Iraqi women interviewed at the women-only bank in Najaf say they felt uncomfortable dealing with male bank clerks in regular banks and felt much more relaxed in the new branch.

     
  • zahed 4:47 pm on May 14, 2009 | 0 Permalink | Reply
    Tags: , halal banking, , ,

    Article featuring me and zabihah.com in Time Magazine (Halal: Buying Muslim) is out today in print and online. A sample:

    “Ideology does not fit within a consumer mindset,” observes [Zahed] Amanullah of Zabihah.com. “At the end of the day, people will not buy halal simply because it’s halal. They’re going to buy quality food. Ideology doesn’t make a better-tasting burger, a better car, or a better computer.” But it sure makes a powerful marketing pitch.

    This is in the international edition of Time, but possibly the US edition as well (someone over yonder will have to confirm).

     
  • thabet 11:15 am on March 2, 2009 | 3 Permalink | Reply
    Tags: , , , halal banking, ,

    “It’s the end of the road for Dubai’s economic autonomy…”

     
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