It is no surprise that another Kuwaiti financial institution is becoming Shariah-compliant. But it does illustrate something about the whole march of Shariah compliance. For many years, conventional banking and finance proliferated and even flourished in the oil-rich Islamic world. The march to Shariah-compliance is relatively recent and is more tied to political motives than […]
Sudan’s ties with Saudi Arabia are strained in the wake of Riyadh’s decision to bar its banks from dealing with its Sudanese counterparts. The Saudi ban is likely part of increasing tensions due to Sudan’s continued close ties to Iran. Over the few years there have been mounting signs of deteriorating relations between Khartoum and […]
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