IslamicFinance.de

The world’s First Halal Angels Network was launched to help investors, businesses, entrepreneurs and startups during the COVID-19 pandemic. The Network would provide huge market opportunities to tap the $5 trillion worth Halal consumer global market. It is founded by Indian American Dr. Tausif Malik, who is a serial entrepreneur based out of Pune, India, and Chicago, USA. He said India is the biggest manufacturer of Halal consumer goods and has huge market opportunities in the Middle East, North Africa, and Southeast Asia. Halal Angels Network would be the 1st Angels Network backed by Blockchain technology. The areas of interest for investments would be future technologies (Blockchain, Fintech AI, etc), Modest Fashion & Cosmetics, Retail, Pharmaceuticals, Food Cafe & Restaurants, Processed Food & Tourism.

India's first Islamic banking service began on Friday in Maharashtra’s Solapur district. Subhash Deshmukh, a BJP MLA from Solapur and state cooperation minister has launched Sharia-compliant Islamic banking. The BJP leader said that the bank has 9 branches, including 8 in Solapur and 1 in Pune, and all of them would get a separate counter for Islamic interest-free deposits and loans. Deshmukh added that other financial institutions and banks in Maharashtra should also follow and adopt this model. Interest-free deposits will be accepted from Muslims and non-Muslims at zero rates of interest to ensure their financial inclusion.

The Islamic Development Bank has announced Scholarships in order to improve the socioeconomic
conditions of the Muslim Communities in Non-Member Countries (including India) around the world to promote professional education among the Muslim community. Students must have secured minimum marks in certain subjects and examinations. They may not be older than 24 years and not in receipt of any other scholarship. The scholarship will only be granted if the students or their parents are financially weak and unable to pay for his/her education. Students benefiting from this scholarship must undertake to serve their community and country on completion of their studies.