Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Wednesday, May 28, 2008

Non-alcohol hotels grow in Dubai

Dubai: As Dubai's popularity among tourists and business people increases, there is a growing demand for Islamic, or Sharia-compliant, hotels that apply a no-alcohol policy and tailor their services to suit Muslim culture.
Some hotel chains follow a detailed set of Islamic rules for operating hotels, while others just adhere to Islam's ban on alcohol owing to local regulations or investor preference.
The first major dry hotel in Dubai was the Taj Palace Hotel, which is managed by leading Indian hotel chain Taj and opened nearly a decade ago. Since then, many local chains have emerged with exclusively Islamic-branded hotels.
Among the top names are Shaza Hotels, Tamani Hotels and Resorts, Hospitality Management Holdings (HMH), Flora Hotels, and Al Mmulla Hospitality. Shaza, Tamani and Al Mulla are planning dozens of Sharia-compliant hotels.
Seeing a market in this segment, Abu Dhabi-based Rotana has added a Sharia-compliant brand Reyhaan to its portfolio.
Several reasons underlie this trend. One reason, according to Michael Noblet, managing director of HMH, is that they are becoming fashionable.

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