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?

Sunday, June 1, 2008

Sheikh bans alcohol at Cairo hotel

A decision by the Saudi owner of the Grand Hyatt Hotel in Cairo to ban the sale of alcohol and destroy millions of dollars worth of beverages has sparked a debate in Egypt.

The international company which runs the hotel has urged Sheikh Abdulaziz al-Brahim - a relative of the Saudi king - to revoke his decision, fearing it could drive away Western tourists and may even lead to the hotel losing its five-star rating.

The Grand Hyatt occupies one of the most expensive sites overlooking the River Nile. It is only minutes from the diplomatic quarter, where the British and American embassies are located.

Like all five-star hotels in Egypt, alcohol used to be available there - but not any more. It is unclear what prompted the owner Sheik Al Brahim to take this controversial measure.

Staff at the hotel are reluctant to talk about the whole affair. But a barman told me that they now only serve soft drinks and that he saw with his own eyes how expensive whiskey, liqueurs and fine wines were emptied down the drains of the hotel.

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