It is now four years since Malawi was rocked by its biggest government corruption scandal in history. The systematic looting of public coffers by civil servants, private contractors and politicians saw them steal 31 Million USD from government coffers.
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Importantly, the number of investors in the Islamic world cannot be ignored and therefore Sharia compliant vehicles capable of attracting their wealth are increasingly relevant. The sukuk is a good starting point for issuers to tap into this reality.
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Some solutions to community problems are simple but effective. One such solution is the Public...
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After the Malawi government approved the introduction of Islamic banking system which doesn’t demand any interest from the borrowers as is the case with non-Islamic banking, Commercial banks in Malawi are getting prepared to open the windows.
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The Shariah has the solutions to today’s financial crisis which are clearly expounded in the Qur’an and Ahadith. The Shariah has an innate elasticity to recognise new financial concepts and instruments. Hereunder are some questions which we need to be asking ourselves in order to evaluate our personal and business financial positions from a Shariah perspective:
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Lessons Unlearned – The Cycle Of Missteps
Malawi’s history of economic and political governance reads like a series of déjà vu moments—repeated crises arising from the same causes, each regime seemingly unwilling or unable to learn from the past.
