New Horizon

(Issue 77)

Comment

Highlighting the Pillars of the Islamic Economy

Feature Islamic Banking in Pakistan - The Management of Change
Muhammad Akram Khan sets out to suggest a practical long-term course of action that can help to achieve the goal of eliminating Riba from the Pakistani economy. He highlights the crucial aspects of introducing an ethical finance system that have thus far been neglected, and suggests a specific strategy for change in the future.
Corporate Profile
BADR BANK, RUSSIA
Badr Bank, The First Islamic Russian Bank

Russia's first Islamic bank (Badr Bank) was set up in 1997 thanks to the revival of Islam in the former Soviet Union in the wake of the collapse of Communism, and through the recognition of the necessity to maintain trade and economic relations with Muslim countries, writes Farid Scoon. Includes a profile of Adalat Djabiev, the prodigious Chief Executive Officer of Forte and Badr banks of Russia.
Book review
Interest-free Commercial Banking & Participatory Financing Through Investment Banks and Commercial Banks by A L M Abdul Gafoor. These two books are part of a series of books by the same author, which provide a practical perspective to interest-free Islamic banking. The books are a timely contribution to the development of interest-free banking. The books provide solutions to the challenges, posed by the conventional financing system, to the operation of interest-free banking.
IIBI Forum

IIBI Shariah Scholars provide answers to questions and issues pertinent to Islamic banking

IIBI News

Report on Institutes Activities

News Monitor

New Horizon reports on recent developments within the Islamic financial world