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Islamic Banking and Conscious Capitalism

The nature of money

At the January 2010 World Economic Forum Annual Meeting in Davos, the erudite and prolific Sharia scholar, Muhammad Taqi Usmani, was invited to present a paper with a somewhat radical theme: reforming the world’s post-crisis financial landscape through the lens of religion. The paper generated little interest from the world’s media, which preferred instead to focus on the forum’s lack of reform plans and the predictably defensive stance taken by bankers. Had they read the 37-page document, though, they might have concluded that “caring capitalism” had the potential to be more than a mere romantic notion.

China, India seal record 24 deals estimated at $ 10b

India and China have signed a record 24 bilateral agreements worth $10 billion during Indian Prime Minister Narendra Modi’s first visit to China. Both sides are dedicated to establish a “new direction between the two largest Asian countries.” [caption id="attachment_15961" align="alignleft" width="300"]Modi-Li Indian Prime Minister Narendra Modi (L) shakes hands with Chinese Premier Li Keqiang during a news conference at the Great Hall of the People in Beijing, China, May 15, 2015. (Reuters / Kenzaburo Fukuhara)[/caption] Education, establishment of c...

BD construction worker fined $40,000 in Singapore

A 28-year-old construction worker from Bangladesh has been fined of $40,000 in default four months’ imprisonment for conducting employment agency activities without a valid employment agency (EA) licence issued by the Ministry of Manpower (MOM). MoM SingaporeAhmead Rubel, 28, helped to facilitate the employment of a fellow Bangladeshi, Jabed, to work as a construction worker in Nanjing Minglu Construction Engineering Co. Ltd from Dec 26, 2013 to June 9, 2014. In the process, Rubel pocketed $3,000 as agency fees, MOM said in a sta...

Private sector partnership in power with India

India and Bangladesh have agreed to open ways for private sector partnership to swap electricity alongside existing government-level cooperation, officials said on Friday as power secretaries of the two countries concluded a two-day meeting in Dhaka. “We are already engaged in the government level (cooperation in bd-indiapowers sector) and now the two countries agreed to allow private sector partnership in this sector,” a Bangladeshi energy ministry spokesman said. His comments came as the Joint Steering Committee on the Power Sector led by Power Secr...

BSF building infrastructure along Bangladesh border

The Indian Border Security Force (BSF) is strengthening infrastructure to enhance vigil along the border with Bangladesh, a senior BSF official said here on Friday. “There are 245 BOPs (Border Out Posts) along India-Bangladesh border within Tripura of which 65 BOPs are being converted to BSFcomposite BOPs for strict vigil and domination in the frontiers,” Inspector General of BSF, Tripura Frontier, B.N. Sharma told reporters. He said: “So far 25 composite BOPs have been set up and the work for the remaining BOPs is on. Three to four times bigger than the norma...

Denim Expo ends on a high note

The second edition of the two-­day Bangladesh Denim Expo ended in Dhaka on Tuesday, May 12th, at Radisson Blu Water Garden hotel, showcasing the country’s capacity in denim production amid huge participation. denimexpoTwenty­ five denim and jeans manufacturers from the USA, Spain, Japan, India, Pakistan, Thailand, Turkey, China, San Marino and host country Bangladesh displayed their products and services at the exposition, which set a high target for Bangladeshi denim makers ­ 7 billion US dollars in exports by 2021 when the coun...
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