SC: Islamic capital market progressing well

THE Malaysian Islamic capital market (ICM) witnessed encouraging developments last year as the Securities Commission (SC), in collaboration with market participants, took further steps to promote the continued expansion of the ICM.  The areas promoted include product innovation, mobilization of Islamic assets, and enhancement of expertise and development of regulatory framework.  SC in its 2002 annual report said Islamic private debts securities (IPDS) continued to be a favorite instrument among corporate bodies for long-term financing.

Taken From: http://biz.thestar.com.my/news/story.asp?file=/2003/5/31/business/izsclam&sec=business

Azhar holds conference on challenges issues recommendations

Cairo,

Participants at the conference on “Imperatives for Muslims in Confronting the Challenges Facing the Ummah’” which was held at the Azhar University, have called upon the international community and organizations to see to it that the New World Order discharges its responsibilities in a fair and just manner, rather than deal in double standards.

They said that Islam is not antagonistic to anyone, nor does it clash with any civilization, and espouses neither aggression nor terrorism, and that it is a faith that calls for integration and interaction, adding that the world does, indeed, need Islamic teachings and the fundamentals of its civilization.

They said that had the Islamic civilization been dominant in today’s world, the world would not have seen wars, and would rather live in peace. The participants also called upon the Muslim scholars to enlighten the Ummah, including the leaders and the led, on the tenets of Islam and its unifying creed, and do away with the subsidiary differences in opinion.

They called upon the Muslims to form a strong scientific and technological base, to be followed by an economic and industrial awakening, and the formation of an Islamic-Arab Market.

Taken From: http://www.islamicnews.org/english/en_daily.html

Pakistan: Muslim Scholars Council tried to present correct Islam

Lahore,

The Islamic Scholars Council, whose headquarters is in Lahore, Pakistan, was formed in 1940, and now has branches in other regions of the country, such as Sind, Baluchistan, Punjab, Azad Kashmir, and others.

The Council brings together some of the Muslim scholars, and their objective is to spread the Message of Islam and the correct Islamic concepts, both within and outside Pakistan. In doing this, it has established cooperation with a number of other Islamic organizations in the country, and in other Islamic and Arab countries, among them the Makkah-based Muslim World League (MWL), and the Azhar in Egypt.

In an interview with THE MUSLIM WORLD, the president of the Council, Dr. Muhammad Abdul Qader Azad, said that also among the objectives of the Council is unify the ranks of the Muslim scholars in Pakistan and making it possible for them to work together in countering the enemies of Islam and Muslims, adding that what is needed is for the Muslim Ummah is to show other the correct values and principles of Islam, as derived from the Holy Qur’an and the Sunnah.

He said that among the fruits of the cooperation between the Council and the MWL is the setting up of theInstitute ofArabic Language and Islamic Education, as well as the setting up of The Custodian of the Two Holy Mosques Center for Arabic, in Lahore, Pakistan.

Taken From: http://www.islamicnews.org/english/en_daily.html