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Administration of the Patrimony of the Apostolic See
The Administration of the Patrimony of the Apostolic See (APSA; Italian: Amministrazione del Patrimonio della Sede Apostolica; Latin: Administratio Patrimonii Sedis Apostolicae) is the office of the Roman Curia that deals with the "provisions owned by the Holy See in order to provide the funds necessary for the Roman Curia to function". It was established by Pope Paul VI on 15 August 196
FinanceBayt al-mal
Bayt al-mal (بيت المال) is an Arabic term that is translated as "House of money" or "House of wealth". Historically, it was a financial institution responsible for the administration of taxes in Islamic states; particularly in the early Islamic Caliphate, it functioned as something of a mix between a Central Bank and a Treasury. It was managed by the caliphs and sultans, in dealing with
BankingChallenges in Islamic finance
Challenges in Islamic finance are the difficulties in providing modern finance services without violation of sharia (Islamic law).
Trading basicsCultural capital
In sociology, cultural capital refers to the social assets of an individual—such as education, knowledge, style of speech, aesthetic preferences, and credentials—that can promote social mobility within a stratified society. Cultural capital functions as a relational resource within systems of exchange and social recognition, encompassing both material and symbolic goods that are consider
BankingDebanking
Debanking (sometimes spelled de-banking, and also known within the banking industry as de-risking) is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank.
Trading basicsExport Bonus Scheme
The Export Bonus Scheme (EBS) was a dual exchange rate system implemented by the government of Ayub Khan from 1959 to 1972. It was introduced to address foreign exchange shortages and support industrialization. In practice, it amounted to an effective devaluation of the Pakistani rupee for selected sectors. Although the EBS increased manufactured exports, it was later criticized for crea
Trading basicsFirst Solution Money Transfer
First Solution Money Transfer was a UK-based private limited company which provided a money transfer service, providing expatriates the facilities to transfer money back to their family in Bangladesh.
Trading basicsGreg Brenneman
Gregory D. Brenneman (born November 26, 1961) is an American businessman. He serves as the chairman of CCMP Capital, an American private equity firm.
Payments & settlementHawala
Hawala or hewala (Arabic: حِوالة, romanized: Ḥawāla, lit. 'transfer, trust'), originating in India as havālā (Hindi: हवाला) or huṇḍī (Hindi: हुण्डी, romanized: Huṇḍī, Sanskrit: हुण्डिका, romanized: Huṇḍikā, lit. 'bill of exchange, draft, or promissory note'), also known as ḥavâleh in Persian, and xawala or xawilaad in Somali, is a popular and informal value transfer system based on the p
BankingHistory of banking in Malta
The term "bank" is attributed to the tables used by "trapezitai", ancient Greek bankers, which provided currency exchange, money storage and loan services, facilitating trade. (See main article: History of Banking)
FinanceIranian National Tax Administration
The Iranian National Tax Administration or in brief INTA is one of the organizations affiliated to the Ministry of Economic Affairs and Finance in Iran which is responsible for handling the country's tax affairs. Among the tasks of this organization are reforming and mechanizing the country's tax system and implementing Value-added tax.
BankingIslamic banking and finance in Canada
The demand for Islamic banking and finance has grown in Canada due to the growing Muslim population in the country who want to avoid riba and other financial practices in violation of sharia. These sharia-compliant financial products are not offered by main financial institutions and, thus, small financial companies are major players. However, major companies like WealthSimple are start
FinanceIslamic banking in Malaysia
Islamic banking in Malaysia began in September 1963 when Perbadanan Wang Simpanan Bakal-Bakal Haji (PWSBH) was established. PWSBH was set up as an institution for Muslims to save for their Hajj (pilgrimage to Mecca) expenses. In 1969, PWSBH merged with Pejabat Urusan Haji to form Lembaga Urusan dan Tabung Haji (now known as Lembaga Tabung Haji).
BankingIslamic economics in Pakistan
The economic policies proposed under the banner of "Islamisation" in Pakistan include executive decrees on Zakāt (poor-due), Ushr (tithe), judicial changes that helped to halt land redistribution to the poor, and perhaps most importantly, elimination of riba (defined by activists as interest charged on loans and securities). Perhaps the foremost exponent of Islamisation among Pakistan's
Trading basicsJames Caan (businessman)
James Caan (born Nazim Khan; 28 December 1960) is a British-Pakistani entrepreneur and television personality.
Securities & exchangesJohn Templeton
Sir John Marks Templeton (29 November 1912 – 8 July 2008) was an American-born British investor, banker, fund manager, and philanthropist. In 1954, he entered the mutual fund market and created the Templeton Growth Fund, which averaged growth over 15% per year for 38 years. A pioneer of emerging market investing in the 1960s, Money magazine named him "arguably the greatest global stock p
Securities & exchangesMalta Stock Exchange
The Malta Stock Exchange (Maltese: Borża ta' Malta) is the stock exchange of the island nation of Malta. Established in 1992, it is fully owned by the Maltese government.
FinanceMehrangate
Mehrangate, also known as the Mehran bank scandal, was a major political scandal that took place during the government of Prime Minister Benazir Bhutto in 1990. It led to the filing of the Supreme Court case Air Marshal (Retd.) Asghar Khan vs General (Retd.) Mirza Aslam Beg & others.
BankingMohammed bin Faisal Al Saud
Mohammed bin Faisal Al Saud (Arabic: محمد بن فيصل آل سعود, Moḥammed bin Fayṣal Āl Saʿūd; 14 November 1934 – 14 January 2017) was a Saudi prince and businessman. He was a son of King Faisal and one of the grandsons of Saudi Arabia's founder King Abdulaziz. He was one of the pioneers in the establishment of Islamic banking and Islamic insurance.
BankingMu'amalat
Muamalat (also muʿāmalāt, Arabic: معاملات, literally "transactions" or "dealings") is a part of Islamic jurisprudence, or fiqh. Muamalat has been defined as Islamic "rulings governing commercial transactions",
FinanceMughal fiscal system
The Mughal fiscal system was the land-revenue, taxation, and expenditure apparatus of the Mughal Empire in the Indian subcontinent from the early sixteenth to the mid-nineteenth century. Centred on a cash-denominated land tax (jama) that funded a ranked nobility (mansabdars) through revocable revenue assignments (jagirs), the system reached its mature form under Akbar (r. 1556–1605) and
BankingMurābaḥa
Murābaḥa (Arabic: مرابحة, derived from ribh Arabic: ربح, meaning profit) was originally a term of fiqh (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the markup (profit) or "cost-plus" price for the item(s) being sold. In recent decades it has become a term for a very common form of Islamic (i.e., "shariah-compliant") financing, where the price is marked
Securities & exchangesPakistan Stock Exchange
The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE) in 1947, is a stock exchange based in Karachi, Pakistan. In January 2016, the Karachi Stock Exchange merged with the Lahore Stock Exchange and Islamabad Stock Exchange to form the PSX, aiming to reduce market fragmentation and attract strategic investment partnerships.
FinancePersonal income in the United States
Personal income is an individual's total earnings from wages, investment interest, and other sources. The Bureau of Labor Statistics reported that median usual weekly earnings for full-time wage and salary workers were $1,251 in the second quarter of 2026, not seasonally adjusted, 4.6 percent higher than a year earlier. For the year 2024, the U.S. Census Bureau estimates that the median
FinancePeter's Pence
Peter's Pence (or Denarii Sancti Petri and "Alms of St Peter") are donations or payments made directly to the Holy See of the Catholic Church. The practice began under the Saxons in England and spread through Europe. Both before and after the Norman Conquest the practice varied by time and place: initially, it was given as a pious contribution, whereas later it was required by various ru
Trading basicsPrefecture for the Economic Affairs of the Holy See
The Prefecture for the Economic Affairs of the Holy See was a dicastery of the Roman Curia, erected on 15 August 1967, and entrusted with overseeing all the offices of the Holy See that managed finances, regardless of their degree of autonomy.
BankingProfit and loss sharing
Profit and Loss Sharing (also called PLS or participatory banking) refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah. These mechanisms comply with the religious prohibition on interest on loans that most Muslims subscribe to. Mudarabah (مضاربة) refers to "trustee finance" or passive partnership contract, while Musharakah (مشاركة or مشركة) refers to equ
Trading basicsRedlining
Redlining is a discriminatory practice from the United States, in which financial services are withheld from neighborhoods that have significant numbers of racial and ethnic minorities. Redlining has mostly been directed against African Americans, as well as Mexican Americans in the Southwestern United States, Jewish Americans, and Italian Americans. The most common examples involve deni
Trading basicsSpecial Administration of the Holy See
The Special Administration of the Holy See (Italian: Amministrazione Speciale della Santa Sede, nicknamed La Speciale, abbreviated ASSS) was a dicastery of the Roman Curia from 1929 to 1967. It was established motu proprio by Pope Pius XI on 7 June 1929 to manage the ₤750 million in cash and 1,000 million in Italian government bonds transferred to the Holy See in implementation of the Fi
BankingSukuk
Sukuk (Arabic: صكوك, romanized: ṣukūk; plural of Arabic: صك, romanized: ṣakk, lit. 'legal instrument, deed, cheque') is the Arabic name for financial certificates, also commonly referred to as "sharia compliant" bonds.
BankingTakaful
Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty).
Trading basicsTobacco marketing targeting African Americans
Tobacco marketing targeting African-Americans is the practice of customizing tobacco products and advertising techniques specifically to African-American consumers. It is most commonly analyzed through the consumption of mentholated cigarettes, as it represents 47% of black adult smokers and 80% of adolescent black smokers.