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Kevin Newton is the founder and managing director of Newton Analytical, a firm specializing in consulting on the Middle East and Southeast Asia, particularly in the areas of Islamic law and finance. His interest in Islam was sparked at the College of William and Mary, and furthered at the University of London, SOAS, where he earned his master’s degree in Islamic Law. He has also worked at the Institute of Ismaili Studies in London, and has a working knowledge of a number of Islamic languages. Newton writes extensively on the topic of Islamic finance, and the role of Islamic law in an ever changing global climate.
Over the past few months, an awkward courtship has been going on between Iraq and its two most polarizing neighbors, as Tehran and Riyadh attempt to convince Baghdad of the merits of their respective orbits. While both sides make compelling points, the fact is that Iraq is exceedingly happy to occupy the middle ground, geopolitically and economically, between the two regional powers.
Turkish President Recep Tayyip Erdogan angles to gain further influence as a leader of the Sunni Islamic world through an unlikely vehicle – Islamic insurance, or takaful.
When “Islamic finance” is mentioned, ideas of the latest Gulf mega-projects spring to mind. However, for millions of Muslims throughout the Middle East, Islamic finance is analogous to a credit union in the United States. In places like Jordan and Turkey, the system is witnessing considerable growth, but for quite different reasons. While Jordanians look to Islamic finance as a route to development, the Turks use it to fight inflation.
Even as ISIS forces are pushed further back behind their lines of greatest extent, a number of groups from around the world are eager to throw their loyalty behind the faltering so-called Islamic State. Groups like Boko Haram in Nigeria, al-Shabab in Somalia, and Islamic State in Libya have declared not only their support but their allegiance to the group.
