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The spirit of entrepreneurship has always been a part of Islam. Nine out of ten companions of Prophet Muhammad (pbuh) who were guaranteed heaven were businessmen. Today, entrepreneurs continue to be a driving force of the economy.
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The 12th World Islamic Economic Forum (WIEF), which closed earlier this month, furthered the promotion of Islamic economy by placing emphasis on the need to create an enabling and supporting environment for the development of micro small and medium enterprises (MSME) to address job creation and income generation.
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The Islamic financial system has witnessed considerable developments in the past four decades and is now regarded as one of the fastest growing segments of the global financial system.
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Islamic banking and finance (IBF) is thriving, with total assets under management of the institutions offering Islamic financial services expected to reach US$2.5 trillion by the end of 2017.
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In the recently held Global Good Governance (3G) Awards in Istanbul, to everyone’s surprise, scores of Pakistani organisations won international acclaim for their exemplary work.
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Dato’ Muhammad Ibrahim, the Governor of Bank Negara Malaysia in his remarks at the Royal Award for Islamic Finance Gala Dinner & Award Presentation on 14 November 2016 said, “Our endeavour to enhance the vibrancy of the industry warrants a new way of thinking in the face of increasing competition and profound changes brought about by technological advancements.
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The current prevalence of smart phones is presenting a threat to the young generation’s intellectual development ability.
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Blockchain is an innovative technology platform that emerged from bitcoin and uses cryptography and a distributed messaging protocol to create a shared ledger between trading counterparties, like the banking transactions of conventional banking.
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