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Insurance Commissioner Jones Sends Ramadan Greetings to Muslim Community Praises Muslims for Sharing their Religion, Culture and Heritage with Californians Insurance Commissioner Dave Jones today sent warm wishes to Muslims across California as they begin their month-long celebration of Ramadan. "Since the early 20th century, Muslim Americans have enriched the fabric of California and have made tremendous contributions across the nation," said Commissioner Jones. "It's important to recognize those contributions during this special religious celebration." During Ramadan, Muslims fast, pray, and donate to charities in order to strengthen their relationship with God. It is intended to teach spirituality, humility and...

President Barack Obama's adviser on Muslim affairs, Dalia Mogahed, has provoked controversy by appearing on a British television show hosted by a member of an extremist group to talk about Sharia Law. Miss Mogahed, appointed to the President's Council on Faith-Based and Neighbourhood Partnerships, said the Western view of Sharia was "oversimplified" and the majority of women around the world associate it with "gender justice". The White House adviser made the remarks on a London-based TV discussion programme hosted by Ibtihal Bsis, a member of the extremist Hizb ut Tahrir party. The group believes in the non-violent destruction of Western...

Islamic tahawwut master agreement arrives at last Author: Joel Clark Source: Risk magazine | 01 Mar 2010 Categories: Islamic Finance, Derivatives After 24 drafts and a consultation process lasting three-and-a-half years, the International Swaps and Derivatives Association and the International Islamic Financial Market (IIFM) today unveiled the sharia-compliant tahawwut (hedging) master agreement for Islamic derivatives. The protracted negotiations to draw up the agreement looked to be moving forward in September 2006, when Isda and the IIFM signed a memorandum of understanding and committed to convene regular meetings of a joint working group to move the project forward. But lengthy discussions...