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President receives religious scholars
[22 February 2017]
Minister of State meets WFP director
[22 February 2017]
President meets COCA Chairman
[21 February 2017]
President meets Mahweet Governor
[21 February 2017]
President meets a number of notables, Sheikhs of Amran
[21 February 2017]
 
  Saudi Aggression War against Yemen
Army shoots dead 3 Saudi soldiers, hits military sites in Aisr, Najran, Jizan
[25 February 2017]
Army foils mercenaries' infiltration in Taiz
[25 February 2017]
Saudi fighter jets launch 3 strikes on Mareb
[25 February 2017]
Ballistic missile hits Saudi soldiers groups in Najran
[25 February 2017]
Army shells mercenaries in Taiz
[25 February 2017]
 
  Reports
Report: Yemen army announces restoring balance of missile deterrence
[20 February 2017]
Roundup: 309 airstrikes hit Yemen in five days
[15 February 2017]
Saudi aggression launches around 73 airstrikes on Yemen over 48 hours
[05 February 2017]
Saudi aggression warplanes launch 328 airstrikes on Yemeni provinces
[31 January 2017]
45 Saudi aggression airstrikes hit Yemen provinces over past 24 hours
[22 January 2017]
 
  International
Yemeni Parliament Speaker congratulates his Kuwaiti counterpart
[25 February 2017]
PM congratulates his Kuwaiti counterpart
[24 February 2017]
President al-sammad congratulates Emir of Kuwait on National Day
[24 February 2017]
President al-Sammad congratulates Sultan of Brunei on National Day
[22 February 2017]
President congratulates Kenyan President on National Day
[22 February 2017]
  International
France seeks Islamic financial system
[16/January/2010]
By Talal al-Kandari
PARIS, Jan 16 (Saba) -- A strictly secular European heavyweight, France is seeking to adopt the Islamic financial system just as a prelude to becoming a European center for Islamic economy, Kuwait News Agency (KUNA) reported Saturday.
Although no tangible moves have been made in this respect, the French government is determined to enact laws giving Islamic finance access to France. This has been already confirmed by several senior French officials.
Speaking to KUNA, several economists said France is now in pursuit of all political, media, legal, legislative and banking tracks that could lead to relevant practical moves.
This strategic project is part of France's plan to find alternative and complementary alternatives to conventional capitalist finance, which can shape the country's official financial policies in the event of global cash shortage.
At the beginning, France came across with a methodological problem that lies in how to handle the Islamic financial system, having been left with a couple of options; either through finding French legal and legislative items that are similar to Islamic ones or through the enactment of fresh laws in this respect.
Following serious deliberations with all parties concerned, the first option was handpicked.
According to recent studies, Islamic financial investments in France are estimated at roughly USD 120 billion.
Although a relevant draft law was turned down by the Constitutional Council in form, but not in content, French Minister of Economy, Industry and Employment Christine Lagrade made it certain that the government would not backpedal on its plan to adopt the Islamic financial system.
The French minister's advisor Thierry Dissaux told KUNA that the government would introduce amendments to French legal and tax systems in order to match Islamic financial principles.
Mohamed Nouri, chairman of the French council of Islamic finance, told KUNA that France was still in the stage of preparations for adopting the Islamic financial system.
But, he expected that Paris would take the first step in this respect this year by issuing Islamic sukuk (bonds) for leading Islamic investment banks.
For his part, secretary-general of the Arab-French commercial chamber, Saleh al-Tayar, also speaking to KUNA, said several French banks were currently operating in Arabian Gulf countries in line with Islamic Sharia'.
But the French drive to open up to Islamic finance is upsetting some politicians in the country Islamic Sharia' forbids Muslims from usury, receiving or paying interest on loans.

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UPDATED ON : Sun, 26 Feb 2017 00:16:13 +0300