
Dr. Al-Ghazzawi Showcases Bahrain's Financial Inclusion Model at Arab Banking Conference
Highlighting Bahrain's success story, Dr. Al-Ghazzawi elaborated on the contribution of Ebdaa Microfinance Company, emphasizing the company's central role in advancing financial inclusion, and noted that Ebdaa Bahrain is firmly dedicated to offering sustainable and innovative financing solutions specifically tailored to underserved populations that face barriers in accessing conventional banking channels. Through these efforts, the company significantly contributes to Bahrain's broader objective of inclusive and comprehensive economic development.
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Gulf Insider
20 hours ago
- Gulf Insider
Binance Launches Sharia-compliant Cryptocurrency Staking
Binance has launched Sharia Earn, the world's first multi-token staking service that complies with Islamic finance principles. The cryptocurrency exchange has received certification from Amanie Advisors, a recognised Sharia advisory firm, for the product. The service addresses a market gap in the $4 trillion Islamic finance sector, where millions of Muslims have been unable to participate in decentralised finance due to religious compliance concerns. Sharia Earn enables users to earn passive income from cryptocurrency investments whilst adhering to Islamic law. The platform launches with support for BNB, ETH, and SOL tokens. Users can earn yield through staking mechanisms that have been reviewed by Sharia scholars and approved under Islamic finance principles. Richard Teng, CEO of Binance, said: 'Our mission has always been to create an inclusive and transparent trading environment. With this product we're empowering the Muslim community and Sharia-focused investors to participate in one of the most exciting financial revolutions of our time. This is more than a product – it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all.' The service operates under Islamic finance guidelines that include risk sharing, wealth circulation, prohibition of interest (riba) and excessive uncertainty (gharar). Amanie Advisors has certified that all funds deployed through the platform are channelled into ventures and assets that are halal (permissible) under Islamic law. Binance has built the service using technology from its existing BNB Locked Products, ETH Staking and SOL Staking infrastructure. The mechanics of each staking method have been reviewed by Sharia scholars and operate through a Wakala agreement structure. Sharia Earn will initially be available in Afghanistan, Algeria, Bangladesh, Bhutan, Egypt, Indonesia, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Morocco, Nepal, Oman, India, Pakistan, Palestinian territories, Qatar, Saudi Arabia, Sri Lanka, Sudan, Tunisia, Turkey (.com), United Arab Emirates, Yemen, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, and Tajikistan. This marks Binance's first entry into Islamic finance products and represents the convergence of blockchain technology with Islamic banking principles. The platform aims to provide transparency and halal compliance for cryptocurrency investments in Muslim-majority markets. Also read: Kuwait Bans Cryptocurrency Mining


Daily Tribune
2 days ago
- Daily Tribune
Bahrain gets exclusive Arabic Jewellery brand as Malabar expands retail concept
TDT | Manama Bahrain has been chosen as one of only two Gulf countries to host two showrooms of a new jewellery brand dedicated exclusively to Arabic designs, following a regional rollout by Malabar Gold & Diamonds. The new concept, branded 'Mojawhraty by Malabar', was launched across six locations in the GCC, with outlets in Bahrain, the UAE, Saudi Arabia and Oman. Bahrain now hosts two branches, at Bahrain City Centre and Bab Al Bahrain, making it a key destination in Malabar's regional strategy to serve Arab consumers. Cultural identity The initiative marks a significant shift in the retail giant's strategy, as it moves beyond general collections to offer a niche brand focused entirely on Arabic jewellery traditions. The designs available under the Mojawhraty brand are crafted in 18K, 21K, and 22K gold, and also feature certified natural diamonds. Malabar Group Chairman M.P. Ahammad said the concept was part of the company's larger goal of becoming the top global jewellery retailer. 'Expanding our design portfolio across diverse cultural and value chains is a key focus. With six showrooms across the GCC and more on the horizon, we are confident that Mojawhraty by Malabar will be welcomed with open arms by jewellery lovers in the region,' he said. Arab appeal According to Malabar officials, the new format aims to reflect the preferences of modern Arab consumers while staying rooted in heritage. 'The rich legacy of Arabic jewellery and its profound cultural relevance has long inspired us,' said Abdul Salam K.P., Vice Chairman of Malabar Group. 'With Mojawhraty, we have created a distinct platform that will offer customers an immersive and personalised retail experience focused exclusively on Arabic design traditions.' Each piece is backed by the 'Mojawhraty Promise', which includes benefits such as guaranteed buyback, lifetime maintenance, 100 percent value on diamond exchange, and exclusive use of certified stones. Further growth The brand plans further expansion across the region, with company officials confirming that the GCC debut is only the beginning of what they described as an 'ambitious growth roadmap.' The launch of Mojawhraty follows Malabar's ongoing efforts to strengthen its international retail footprint. The group currently operates more than 400 showrooms across 13 countries, with annual revenues exceeding $7 billion.


Biz Bahrain
6 days ago
- Biz Bahrain
Bahrain appointed Chair of Arab Space Strategy Committee
The Kingdom of Bahrain was selected to chair the committee responsible for developing the Arab Space Strategic Plan during the 11th meeting of the Arab Space Cooperation Group, held in Egypt. This appointment recognises Bahrain's growing leadership role in the regional space sector, its institutional strength in strategic planning, and its notable success in advancing international cooperation. Rasha Al Amad, Chief of Strategic Planning at the Bahrain Space Agency (BSA), has been appointed to chair the committee, which includes representatives from eight Arab space agencies. She will lead the development, implementation, and evaluation of the Arab Space Strategic Plan. The committee aims to coordinate efforts at both national and regional levels to enhance collaboration, positioning the Arab region as a competitive force in the global space sector. Dr Mohamed Ibrahim Al Aseeri, CEO of BSA, welcomed the appointment as recognition of the Agency's strong regional capabilities. He underscored BSA's commitment to close cooperation with Arab space agencies to establish a unified space strategy that promotes innovation, capacity-building, and enhances the region's position in global scientific and technological advancement. He further noted that through this structured and collaborative process, the committee will work on establishing a comprehensive and unified strategy for the Arab space sector. This will include consultations with member states to define shared goals, aligning regional ambitions with global trends, and developing a clear roadmap that supports the sustainable growth of the sector across the region. Al Amad expressed her honour in leading the committee, highlighting its key role in shaping the future of the Arab space sector. She stressed the importance of strong cooperation among member states, a structured approach to strategy development, and consistent coordination throughout its implementation. She added that once the strategy is approved, the committee will oversee its implementation, monitor progress using agreed performance indicators, assess results, and issue regular reports on achievements and areas for improvement. This approach will ensure the Arab Space Strategic Plan remains flexible and responsive to changing regional and global developments. This leadership role underscores the BSA's growing expertise in space governance, strategic planning, and international collaboration. It is worth noting that the Agency played a key role in formulating Bahrain's National Space Policy and its regulatory framework, laying the groundwork for sustainable development in this vital sector. BNA(R)