Jakarta’s Ritz Carlton hotel this weekend was a sea of brightly coloured Islamic headscarves and the crisp white uniforms of the Islam-based Prosperous Justice Party (PKS), the third biggest party in President Susilo Bambang Yudhoyono’s cabinet. PKS held their national congress at the luxury hotel
Indonesia’s Prosperous Justice Party (PKS) is holding its second national congress in Jakarta this week where it will discuss key policies. The Islamist party is the third-biggest in President Susilo Bambang Yudhoyono’s coalition, and lifted its share of the vote in the 2009 elections when most Islam-based parties lost support.
With Islamic finance a $1 trillion industry globally and expected by ratings agency Moody’s to reach $5 trillion in time, students of sharia have more opportunities than ever before to take their skills beyond the mosque doors and into the boardroom.
It’s a myth to assume Islamic finance products are safer than conventional products and underlying risks should be studied more carefully, Qatar’s top regulator said at the Davos World Economic Forum meeting on Wednesday. Despite being billed as a safer alternative to traditional banking because assets must underpin deals, Islamic bondholders have found they may not have any more legal safeguards than conventional counterparts in the event of default.
Adam, 52, keeps his three wives in different towns to stop them squabbling, but the white-bearded Chechen adds he might soon take a fourth. “Chechnya is Muslim, so this is our right as men. They (the wives) spend time together, but do not always see eye to eye,” said the soft-spoken pensioner, who only gave his first name.
In a stylishly decorated restaurant in the heart of Paris, tucked between Bastille and Place de la Nation, Sophia Tabet is perusing a typical French menu, including foie gras, beef fillet and duck confit. But unlike other French eateries, this one offers no wine list, and all food is prepared strictly in accordance with Islamic sharia law.