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Police arrest thieves stealing cars, motorcycles
[27 March 2017]
Solidarity rallies with Yemenis in several European capitals, US cities
[27 March 2017]
Black gunpowder-loaded car seized in Hodeidah
[27 March 2017]
Security services arrest 2 al-Qaida terrorist operatives in Bayda
[23 March 2017]
Agricultural ministry, Action Against Huger sign support agreement
[22 March 2017]
 
  Saudi Aggression War against Yemen
FM official: Saudi, its allies threatening safety of Red Sea shipping
[27 March 2017]
Labor Unions: Anti-Saudi rally shows Yemenis are stronger than ever
[27 March 2017]
Mercenaries killed in Taiz
[27 March 2017]
Saudi criminal airstrikes continue raids on Yemen
[27 March 2017]
Citizen executed in mercenaries' prisons
[27 March 2017]
 
  Reports
Roundup: Saudi kills 15 Yemeni civilians in 112 airstrikes on Yemen in 3 days
[25 March 2017]
Report: Saudi kills 68 in 301 airstrikes on Yemen in 7 days
[23 March 2017]
Roundup: Saudi kills 30 in 235 airstrikes on Yemen in 6 days
[15 March 2017]
Saudi conducts 47 airstrikes, killing 4 civilians in 24 hours
[14 March 2017]
Roundup: 282 Saudi aggression airstrikes hit Yemen in five days, killing 13 civilians
[06 March 2017]
 
  International
FM meets IOM official in Yemen
[20 March 2017]
FM meets UN official
[19 March 2017]
FM meets deputy resident representative of UN Population Fund
[19 March 2017]
FM meets UNHCR official in Yemen
[18 March 2017]
Foreign Ministry : US-Saudi coordination to expand war in region
[16 March 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 : Mon, 27 Mar 2017 13:35:36 +0300