Islamic finance may have its roots in Muslim-majority countries, but today, it's a concept that's gaining traction further afield.It's a financial system based on Islamic law, which prohibits interests, and promotes risk-sharing, ethical investing and asset backed transactions. It emphasizes principles like fairness, transparency and social responsibility, ensuring that investments avoid activities considered harmful or unethical. TRT World spoke with the General Secretary of the Islamic Financial Services Board, Dr Ghiath Shabsigh, to explore the factors behind growing interest.

The world is suffering heavy debt, global prices… add wars in the Middle East, Ukraine and Sudan to the mix,, and there's uncertainty over who will be the next President of the United States… what a time for the IMF to gather in Washington! But that's what they're doing- let's take a deeper look at what they will be grappling with. ANI 1: The meetings are centered around boosting global growth, addressing debt distress, and financing the green energy transition. ANI 2: The IMF has lowered its forecast for 2025 to 3.2% from its July estimate, while leaving this year's projection unchanged at the same level. Its upgraded the outlook for the US but there are lower expectations for Europe and China. Global inflation is set to ease to 5.8% this year and 4.3% next year. ANI 3: Emerging markets are grappling with liquidity problems, delaying development investments. Addressing debt distress of 100-Trillion Dollars remains a priority. ANI 4: Although not officially on the agenda, the upcoming US election is a key concern. The outcome, especially a potential Trump victory, could reshape trade policies and multi-lateral cooperation, creating new economic challenges. ANI 5: Ongoing wars in the Middle East and Ukraine are high on the radar. Escalation of these conflicts could impact the global economy, particularly energy markets

Asian equities mostly tumbled on Wednesday, following a selloff on Wall Street. That's after Dutch chipmaker ASML warned of weak semiconductor demand in an earnings report accidentally published a day early. ASML's stock closed down 16.3% in New York as its gloomy outlook reverberated throughout the tech sector.