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Kuwait’s Defence Minister Hamad Al Jaber has ordered the suspension of army plan to train the country’s first female soldiers, after public discontent demanding abidance to the Islamic law. Al Jaber, Gulf News reports citing local Al Rai newspaper, made Read more
Morocco’s central bank, Bank Al Maghrib, gave its approval to five Islamic banks to start operating in Morocco and allowed three French banks to sell Islamic products. The central bank added in a statement that it has set up a Read more
Saudi Arabia and Kuwait have agreed to support the United Nations fight against terrorism by implementing its Resolution 2170. The resolution was adopted by UN’s Security Council as part of efforts aimed at handicapping the Islamic State of Iraq and Read more
In seeking to attract new entrants to the market and promote competition, Bahrain is making changes on its existing takaful model, a type of Islamic insurance where members contribute money into a pooling system in order to guarantee each other Read more
King Abdullah of Saudi Arabia has been trying to insufflate change in the very conservative Saudi community. Believing that the change will be more accepted if done step by step he has been carefully preparing it for a few years Read more
Banks in Oman fear that the restriction on the money market instruments to be introduced in preparations for the introduction of Islamic finance by the end of the year might affect fund and profit management. The draft of the rules Read more
With the year almost coming to an end, the Chairman and CEO of Istanbul Stock Exchange, Ibrahim Turhan, revealed that up to 18 additional initial public offerings (IPOs) could be on their way. This number could be tripled because according Read more
Yemen’s security agents are coming under attack in their own backyards as another suicide bombing took place at the gate of the police academy in the capital. No one has claimed responsibility but officials have linked it to Al-Qaeda. Wednesday’s Read more