News and Analysis on Islam in Europe and North America
Saving and investing in line with religious principles is important for many Muslims and an increasing range of financial products is now available to meet Sharia rules. There are 1.8 million Muslims in Britain and surveys show that about three-quarters are interested in the idea of running their savings and investments in keeping with principles
As the financial crisis in the United States worsens, the conservative principals of a small group of devout Muslims have helped to insulate them from economic suffering. Their renunciation of the interest-based economy kept them away from traditional mortgages and away from making investments in financial service companies, whose stocks have plummeted. Islamic finance, a
Two Muslim organisations have called for a boycott of Barclays Bank after it closed the accounts of Bolton-based charity the Ummah Welfare Trust (UWT). The move followed claims that the charity was indirectly helping to fund the Palestinian organisation Hamas. UWT has donated more than £200,000 over the past four years to another UK registered
British Muslims are organising a boycott of Barclays Bank after it closed the accounts of an Islamic charity that operates in some of the world’s terror hot spots. Barclays has given the Bradford and Bolton-based Ummah Welfare Trust just 30 days to move millions of pounds, but the bank has refused to explain why. The
The German economy is considered the strongest in the Eurozone [15-country bloc that uses the Euro currency] and the level of German exports surpassed China for the fifth year running in 2007, achieving a record export of €969 billion. Its imports amounted to €770 billion, giving Germany a trade surplus of €198 billion. According to