Author: islamnewsday
Liquidity at Islamic banks in Bangladesh has decreased drastically, deepening a lingering cash crunch at the crisis-hit Shariah-based banks. Excess liquidity at Islamic banks fell by 77.14 percent to Tk 1,518 crore at the end of March this year, according to the Bangladesh Bank’s latest quarterly report on Islamic banking. It was Tk 6,643 crore at the end of December last year. This means that the excess liquidity dropped by Tk 5,125 crore in the span of just three months. Year-on-year, the March figure was down by 27.82 percent, meaning Tk 585 crore. Excess liquidity is calculated after a bank…
Abia State commissioner for finance, Mike Akpara has said the government was still expecting loan facilities of $125 billion and $115 billion from the Islamic Development Bank, and the African Development Bank respectively. Akpara stated this when he spoke to the media in reaction to news reports that the government had borrowed more than the previous government in Umuahia, the state capital, yesterday. He said the loan processes were initiated by the previous government, adding that “the Alex Otti administration was only completing what the Okezie Ikpeazu administration began”. He maintained that contrary to the reports, the huge successes the…
The court found the 47-year old Malian was a key member of Ansar Dine, an Islamic extremist group with links to al-Qaida that held power at the time.“The inhabitants had no other choice than to adapt their lives and lifestyle to the version of Sharia law imposed on them by Ansar Dine,” presiding judge Antoine Kesia-Mbe Mindua said, speaking in French.Judges agreed there was sufficient evidence to convict Al Hassan of charges including torture, outrages upon personal dignity and cruel treatment. They found that prisoners were abused by being kept in tiny, disgusting cells and repeatedly flogged.“Al Hassan himself inflicted…
The Muslim Rights Concern (MURIC) has demanded a stop to an amendment of a bill titled Sokoto Emirate Council Amendment Bill meant to make some changes in the Sokoto State Emirate Council.Thank you for reading this post, don’t forget to subscribe! The MURIC demand comes as the Bill has passed through the first and second readings at the Sokoto State House of Assembly. The group said that if passed into law, it will lead to the Sultan of Sokoto, Muhammadu Sa’ad Abubakar, being stripped of certain powers. The MURIC in a statement issued on Wednesday by its Executive Director, Professor…
ALMATY, Kazakhstan, June 27. Eurasian Development Bank (EDB) may become an active promoter of Islamic finance in the region, the Deputy Chairman of the EDB Board Ruslan Dalenov said during the session “Islamic finance in Central Asia” at the Eurasian Development Bank business forum in Almaty, Trend reports. “EDB can become an active promoter of Islamic finance in the region, being an international organization with a broad base of clients. EDB may become a kind of regulatory sandbox to develop and implement the necessary regulatory amendments,” he emphasized. According to Dalenov, the EDB on the way to becoming a conduit…
A charity is planning to establish a cemetery in the South West, specifically for the Islamic community. Gardens of Mercy (GoM), a recently registered charity, has revealed that it is preparing to submit a planning application to Cornwall Council for a natural burial ground for Muslims in Devon and Cornwall. The charity intends to apply for ‘change of use’ planning permission on its land located on the north side of South Hill Road near Callington, reports CornwallLive. It also plans to dedicate at least 75% of the site to enhancing biodiversity, with proposals including a wood-pasture and wildflower meadow. Read…
KUALA LUMPUR, June 27 (Bernama) — Central Asian countries such as the Kyrgyz Republic, Kazakhstan and Uzbekistan regarded Malaysia as an exemplary model of an Islamic country, the Dewan Rakyat was told today. Foreign Minister Datuk Seri Mohamad Hasan said this is because Malaysia adopts a moderate attitude at the international level in addition to an independent foreign policy including in defending the rights of the Palestinians. He said Prime Minister Datuk Seri Anwar Ibrahim, during his visits to the three countries last month, was welcomed with high respect by his counterparts. “The prime ministers of the three countries personally greeted our Prime…
A cemetery dedicated for use by the Islamic community could be built in Cornwall. Gardens of Mercy (GoM), a newly-registered charity, has said it is in the process of submitting a planning application to Cornwall Council for a natural burial ground for Muslims in Devon and Cornwall. The charity said it will be requesting ‘change of use’ planning permission on the land it owns on the north side of South Hill Road near Callington. It also has plans to use at least 75 per cent of the site to increase biodiversity, including a wood-pasture and wildflower meadow. A leaflet seen…
PARIS – France’s government on Wednesday ordered the dissolution of multiple extreme right and radical Muslim groups, four days before the first round of high-stakes legislative elections that may see a surge in support for political extremes.Snap national elections called by pro-business moderate President Emmanuel Macron have plunged the country into a hasty and disorderly electoral race, in which hate speech is becoming a growing concern.Interior Minister Gerald Darmanin announced Wednesday that the government ordered the shutdown of several groups peddling extremist hatred. A series of decrees announcing the shutdown outlined investigations into the groups and said they posed risks…
Photo shared by IDF (Photo: TPS) Tel Aviv [Israel], June 27 (ANI/TPS): The Israel Defense Forces released photos of Palestinian Islamic Jihad rocket specialist Fadi al-Wadiya wearing the terror group’s uniform after Doctors Without Borders confirmed he was a staffer but denied he was a terrorist. Wadiya was killed in an airstrike in northern Gaza on Tuesday while bicycling to work.”A physical therapist by day and a jihadist saboteur by night,” posted the IDF’s Arabic spokesperson, Lt. Col. Avichay Adraee on X, formerly known as Twitter on Wednesday night.Also Read | Brazilian Wax Services for Transgender Woman? Salon Owner’s Misassumption…
ANI | Updated: Jun 27, 2024 07:37 IST Tel Aviv [Israel], June 27 (ANI/TPS): The Israel Defense Forces released photos of Palestinian Islamic Jihad rocket specialist Fadi al-Wadiya wearing the terror group’s uniform after Doctors Without Borders confirmed he was a staffer but denied he was a terrorist. Wadiya was killed in an airstrike in northern Gaza on Tuesday while bicycling to work.”A physical therapist by day and a jihadist saboteur by night,” posted the IDF’s Arabic spokesperson, Lt. Col. Avichay Adraee on X, formerly known as Twitter on Wednesday night.Adraee said Wadiya had worked for Islamic Jihad for 15…
RIYADH: Saudi Islamic banks are poised to maintain a robust performance this year and in 2025, buoyed by non-oil economic growth and favorable operating conditions, a new report stated. According to Fitch Ratings, these banks leverage a substantial retail customer base which helps improve profitability, secure lower-cost funds, and maintain high-quality, diversified assets. In the Kingdom, where all residential mortgages must comply with Islamic law, strong demand for Shariah-compliant financial products leads individuals to Islamic banks for mortgages and other services, thereby increasing deposits. “In general, financing growth has outpaced lending over the past few years, supported by the requirement for…
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A former massage therapist accused of teaching a doctrine contrary to Islamic laws took part in a “spiritual marriage” and needed 13 wives, one of his former followers said on June 26. The former follower said: “He suggested that we do (spiritual marriage) and look for ladies out there to pursue his belief to get these 13 wives.” But he could not recall the reasons behind the need to get the wives. The man, who took the stand on the third day of Mohd Razif Radi’s trial, was the fourth witness to testify before District Judge Shaiffudin Saruwan. The witness, who cannot…
Looking out nervously from her pink headscarf, Malaysian single Siti Aisha chats with a man she has never met, but who could become her husband following their Islamic speed-dating session. The pair talk shyly for a few minutes under the watchful eyes of Siti’s parents until a bell prompts the dozens of male participants to shift to a new table and a new prospective wife. The Malaysian concept, staged in a Kuala Lumpur restaurant, is a new twist on Islam’s practice of heavily chaperoned match-making, but aimed at modern singles for whom time is of the essence. Siti, a 29-year-old…
Panaji (Goa) [India], June 26: The State Commission for Persons with Disabilities, in association with the Department for Empowerment of Persons with Disabilities, Government of Goa, Cultural House of the Islamic Republic of Iran, and We Care Festival, presented the Indo-Iranian Film Festival on Disability Issues. The event, held at Maquinez Place and aimed at raising awareness and promoting inclusivity, was inaugurated by the Guest of Honour, Shri Subhash Phaldessai, Hon’ble Minister for Social Welfare, and E Vallavan, Secretary, IAS, Empowerment of Persons with Disabilities.Shri Guruprasad Pawaskar, State Commissioner for Persons with Disabilities, Varsha Naik, Director of DEPWD, Satish Kapoor,…
The following report is now a complimentary offering from MEMRI’s Jihad and Terrorism Threat Monitor (JTTM). For JTTM subscription information, click here. In a recent report, Rukhsana Media, a media outlet focused on the rights of Afghan women, noted that Afghan Taliban rulers have established radio stations that broadcast programs that promote jihadi thinking and suppression of women in the home. The report, “New Herat Radio Stations Fill Airwaves With Taliban’s Ideological Extremism,” is written by Muzhda Mohammadi, who reviewed broadcasts by Huriat, a Taliban-run radio station. Some programs aired recently said that mothers should whisper jihadi lullabies to infants so…
In the Islamic consciousness, we generally associate “beautiful names” with Allah, Glorified and Exalted is He, as mentioned in the Qur’an and the Hadith (prophetic narrations). Some of these sources include the following: Yet to Allah belong the most excellent names. So call upon Him with them. And leave [alone] those who profane His names. They shall be [duly] recompensed for all that they have done [in life]. (Qur’an, 7:180) It has been narrated from Abu Hurayrah (may Allah be pleased with him) that Allah’s Messenger ﷺ said: “Verily Allah has ninety-nine names. Whoever memorizes them shall enter Jannah.” (Sahih…
A file photo shows a man counting taka notes in the capital Dhaka. Excess liquidity of Shariah-based banks in Bangladesh plummeted by 77 per cent in March 2024 compared with that in December 2023, driven by a confidence crisis of depositors. | New Age photo Excess liquidity of Shariah-based banks in Bangladesh plummeted by 77 per cent in March 2024 compared with that in December 2023, driven by a confidence crisis of depositors. According to Bangladesh Bank data, excess liquidity in Islamic banks nosedived by Tk 5,125 crore to Tk 1,518 crore at the end of March 2024 compared with that of…
State AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyomingPuerto RicoUS Virgin IslandsArmed Forces AmericasArmed Forces PacificArmed Forces EuropeNorthern Mariana IslandsMarshall IslandsAmerican SamoaFederated States of MicronesiaGuamPalauAlberta, CanadaBritish Columbia, CanadaManitoba, CanadaNew Brunswick, CanadaNewfoundland, CanadaNova Scotia, CanadaNorthwest Territories, CanadaNunavut, CanadaOntario, CanadaPrince Edward Island, CanadaQuebec, CanadaSaskatchewan, CanadaYukon Territory, Canada Postal Code Country United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory South of 60 deg S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic…
People walk out of a branch of Mashreq bank at Dubai Internet City on Feb. 5, 2012. — Reuters/FileKARACHI: The State Bank of Pakistan has granted Mashreq Pakistan in-principle approval to commence its Islamic banking operations in the country, a statement said on Wednesday. Mashreq Pakistan is a part of Mashreq which is the leading financial institution in the Middle East and North Africa.“This a pivotal moment that reaffirms the bank’s commitment to providing an ethical, innovative and robust banking system that aligns with the principles of Sharia, thereby contributing to the nation’s financial landscape and becoming a catalyst for…
THE HAGUE, Netherlands (AP) — The International Criminal Court on Wednesday convicted an al-Qaida-linked extremist leader of the religious persecution and torture of prisoners in Mali in 2012-13 when he headed the Islamic police in the historic desert city of Timbuktu. Al Hassan Ag Abdoul Aziz Ag Mohamed Ag Mahmoud sat stoically while the decision finding him guilty of war crimes and crimes against humanity was read out at the court in the Dutch city of The Hague. He faces up to life in prison when the sentence is decided at a later date. Al Hassan was acquitted of several…
THE HAGUE, Netherlands (AP) — The International Criminal Court on Wednesday convicted an al-Qaida-linked extremist leader of the religious persecution and torture of prisoners in Mali in 2012-13 when he headed the Islamic police in the historic desert city of Timbuktu.Al Hassan Ag Abdoul Aziz Ag Mohamed Ag Mahmoud sat stoically while the decision finding him guilty of war crimes and crimes against humanity was read out at the court in the Dutch city of The Hague. He faces up to life in prison when the sentence is decided at a later date.Al Hassan was acquitted of several charges focusing…
The French government has ordered the dissolution of four far-Right groups and an Islamic association.This includes GUD, a group known for violence and antisemitism.The move comes just days before the first round of the snap legislative election called by President Emannuel Macron after far-Right parties made gains in several countries in European elections. An expert told Newsweek at the time that the results signaled a pronounced rightward shift.Other groups banned include Lyon-based “Les Remparts”, La Traboule and Top Sport Rhône. Islamist association Jonas Paris was also dissolved. French President Emmanuel Macron at Elysee Palace on June 26, 2024 in Paris,…
Monsoon rains may trigger ‘emergency situation’ in Pakistan, warns disaster management authority ISLAMABAD: Heavy rains during the upcoming monsoon season may cause an “emergency situation” in Pakistan, particularly in its Sindh and Punjab provinces, the head of the National Disaster Management Authority (NDMA) warned on Wednesday. Monsoon season in Pakistan typically runs from July to September. The NDMA last week warned that Punjab may suffer urban flooding in the monsoon season, saying that Pakistan’s most populous province is expected to receive more downpours this year. Large swathes of the South Asian nation were submerged in 2022 due to extremely heavy…