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President meets with Speaker of Parliament
[20 January 2018]
32 prisoners involved in December sedition released in Hajjah
[19 January 2018]
Voluntary Recruiting campaign kicks off in Yemen's Amran
[17 January 2018]
Hajjah province deputy kicks off Voluntary recruitment campaign in Shahel
[17 January 2018]
Dhamar Governor inaugurates voluntary recruiting campaign in Dhamar city
[17 January 2018]
 
  Saudi Aggression War against Yemen
Saud-paid mercenaries' military vehicle destroyed in Jawf
[21 January 2018]
Army, committees burn mercenaries' pick-up vehicle in Nehm
[21 January 2018]
Seven Saudi-paid mercenaries gunned down in Jawf
[21 January 2018]
Saudi-led aggression warplanes launch 4 raids on Serwah
[21 January 2018]
Saudi aggression warplanes wage 2 strikes on Marib
[21 January 2018]
 
  Reports
Report: 2 civilians killed in 24 Saudi-led aggression coalition airstrikes over Yemen on Saturday
[21 January 2018]
Report: Army , committees attack Saudi army, its mercenaries in battle fronts over Saturday
[21 January 2018]
Report: Saudi-led aggression coalition warplanes wage 22 strikes on Yemen over Friday
[20 January 2018]
Report: Army, committee carry out ground attacks against Saudi soldiers, mercenaries over Friday
[20 January 2018]
Report: 9 Saudi military vehicles destroyed in ground attacks over Thursday
[19 January 2018]
 
  International
Foreign Ministry: Stopping sales of German arms to coalition states is important step
[20 January 2018]
UNICEF: Over 3 million Yemeni children born since Saudi wages war
[17 January 2018]
Yemen, WFP sign MoU to rehabilitate Hodeidah port
[16 January 2018]
Yemen calls on UAE occupation forces to stop destroying Socotra
[16 January 2018]
Norwegian Refugee Council calls for reopening Yemen's ports
[15 January 2018]
  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, 21 Jan 2018 19:33:13 +0300