What qualifies financial services or products to be sharia-compliant?

Economists specializing in the study of Islamic finance and economics have reduced Islamic laws governing financial and economic transactions to two: proscription on receiving or paying “interest” and mandating that investors and developers (lenders and borrowers) share the gains and losses of the enterprise in which they are more or less partners. This theory is […]

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Turkish and Russian leaders can no longer compartmentalize their relations

by Ahmed E. Souaiaia* Turkey’s president may have pushed the reset button of his country’s relations with Russia, but it will be a while before he can reap economic benefits.   Reason for Putin wanting gradual restoration of economic ties with Turkey: Russia cannot help rejuvenate the Turkish economy to enable the Turkish government to […]

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#IslamicSocietiesReview : Turkish-Russian relations in the context of the war in Syria and Turkish economy

by Ahmed E. Souaiaia* At one point last year, when the Turkish and Russian leaders had their last meeting, they had hoped that economic trade between their two countries would reach $100 billion. Turkish leaders also wanted to triple trade with Iran to $30 billion. Erdogan, the co-founder of the AKP that has governed Turkey […]

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Beyond terrorism: Sousse attack, economic development, fair trade, and dignity

by Ahmed E. Souaiaia* The intent of those who planned and carried out the recent terrorist attack in Tunisia and the reactions to it, both underscore the idiosyncratic connections between economic development and terrorism. Importantly, the attack ought to remind us of the global nature and imperatives, not only of ISIL’s brand of terrorism, but […]

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Is Ukraine becoming for the West what Syria has been for Russia?

by Ahmed E. Souaiaia* Riding the wave of protests known as the Arab Spring, many Syrians rallied to demand more political and civil rights. Without the hesitancy that characterized their initial reaction to the protest movements in Tunisia and Egypt, Western administrations and some of the Persian Gulf regimes immediately threw their support behind the […]

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To compete globally, BRICS nations need reputation, not imitation

by Ahmed E. Souaiaia*  BRICS nations The economic, political, and social rise of the Western block of nations was founded on the single most enduring currency: reputation. Reputation, the source of credibility and trust, is the real asset that allows the U.S. to project its stature around the world. BRICS nations cannot rise to prominence […]

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Burdening the victims: impact of US sanctions on human rights at home and abroad

The case for peoples’ diplomacy by Ahmed E. Souaiaia* On the occasion of the start of the Persian New Year (Nowrūz), President Obama delivered a recorded video message to the Iranian people. In it, he highlighted the many ways the Iranian government denies its citizens access to information, including censoring media outlets and filtering the […]

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