Author: islamnewsday

Mohammad Mufazzal | Published: May 25, 2024 20:45:43 General investors are highly unlikely to get back anything out of their investments in ICB Islamic Bank unless the government provides it with necessary funds and overhauls it. Presently, general investors constitute a 25.42 per cent stake in the bank, while institutions hold 21.65 per cent shares, sponsor-directors 52.76 per cent and the government 0.17 per cent.The stock has traded at below the face value of Tk 10 each share on the bourses for the last two years. On Thursday, it closed at Tk 3.5 per share, the lowest among 36 bank…

The forum of Islamic clergy in Kano, Ulama, has urged President Bola Tinubu to intervene and prevent any actions that may lead to a disruption of law and order in the state. In a statement signed by 18 members of the Ulama, the clergies expressed their concerns regarding the ongoing dispute over the emirship. Ulama emphasised that it is important for Tinubu to take all necessary measures to uphold peace in the state. “Kano State is one of the most peaceful states in Nigeria despite its political complexity. The recent happenings in the Emirate if not carefully handled could escalate…

Iran’s supreme leader, Ayatollah Ali Khamenei, said on Saturday that the large crowds of mourners who took to the streets of Iranian cities this past week to honor the country’s deceased president, Ebrahim Raisi, were proof of widespread popular support for the Islamic Republic and its system of religious governance.Ayatollah Khamenei had declared five days of mourning after Mr. Raisi, 63, was killed in a helicopter crash along with Iran’s foreign minister, Hossein Amir Abdollahian, and five others last weekend. Video from the Iranian news media in recent days showed large processions in honor of the dead, and crowds packed…

Ayatollah Khamenei made the remarks in a Saturday meeting held in the capital Tehran with the families of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amirabdollahian and six of their companions who lost their lives in a helicopter crash in the northwestern Iranian province of East Azarbaijan last week. Pointing to the enemy’s propaganda and claims regarding the estrangement of Iranian people from the Islamic Republic, the Leader said, “This incident, before the very eyes of the world and in practice, proved the attachment and loyalty of the Iranian nation to the president and those who embodied the mottoes of…

(Reuters) – A U.S. Army sergeant stationed in Hawaii has been indicted on charges of trying to provide material support to Islamic State, allowing the case to move to a federal trial without a preliminary hearing, officials said on Saturday. Ikaika Erik Kang, 34, is being held in jail and is scheduled to appear in court in Honolulu on Monday to face charges. He was arrested on July 8. See more photos from this ongoing story: The indictment, from a U.S. grand jury, accuses the military air traffic controller of four counts of attempting to provide material support or resources…

Supreme Leader of Iran’s Islamic Revolution Ayatollah Seyyed Ali Khamenei has said that the mass participation in funeral processions of Martyr president Ebrahim Raisi and his entourage showed to the world that the Iranian people are loyal to those who adhere to the slogans of the Islamic Revolution. During the meeting, the Leader stated that working for the people, serving the people, and caring for the people were among some of the most prominent characteristics of the martyrs who lost their lives during last week’s helicopter crash in northwestern Iran. “The late Mr. Raisi worked tirelessly day and night in…

Ayatollah Khamenei made the remarks in a Saturday meeting held in the capital Tehran with the families of Iranian President Ebrahim Raisi, Foreign Minister Hossein Amirabdollahian and six of their companions who lost their lives in a helicopter crash in the northwestern Iranian province of East Azarbaijan last week. Pointing to the enemy’s propaganda and claims regarding the estrangement of Iranian people from the Islamic Republic, the Leader said, “This incident, before the very eyes of the world and in practice, proved the attachment and loyalty of the Iranian nation to the president and those who embodied the mottoes of…

AhlulBayt News Agency: The Leader of the Islamic Revolution, Imam Khamenei, visited Hujjat al-Islam wal-Muslimeen Martyr Ebrahim Raisi’s home on Wednesday evening, May 22, 2024.During his meeting with the late Iranian President’s family, Imam Khamenei described Dr. Raisi as being an embodiment of the Islamic Revolution’s mottos, and he characterized the people’s devotion to him as being a message to the world in favor of the Islamic Republic.During the meeting, which was attended by Hujjat al-Islam wal-Muslimeen Alamolhoda; Dr. Alamalhoda; and Martyr Raisi’s wife, children, and relatives, the Leader of the Islamic Revolution described the loss of Mr. Raisi as…

After trying to link Ukraine and the West, Russia said the Islamic State coordinated the concert hall attack in Moscow.Over 140 people were killed after gunmen stormed the the Crocus City Hall in Moscow [GETTY] Russia on Friday said for the first time that the Islamic State group coordinated the March concert hall assault in Moscow, the country’s deadliest terror attack in two decades. IS has claimed responsibility on multiple occasions for the 22 March attack, which killed over 140 people, but Moscow has repeatedly tried to link Ukraine and the West to the attack. FSB chief Alexander Bortnikov was…

This article first appeared in Forum, The Edge Malaysia Weekly on May 20, 2024 – May 26, 2024Malaysia is a global leader in Islamic finance, renowned for its cultural diversity and thriving economy. One aspect of Islamic finance that has profoundly impacted the country is Islamic microfinance, a potent tool for empowering marginalised communities and combating poverty. In the 1980s, Malaysia embarked on its journey to become a pioneer in Islamic finance. Today, it is a global hub for shariah-compliant financial products and services, with Islamic microfinance playing a pivotal role in fostering financial inclusion and community development. Islamic microfinance…

Raqami Islamic Digital Bank Ltd. (RIDBL) has announced a strategic partnership with 1LINK, one of Pakistan’s largest Payment Service Providers.A distinguishing feature of RIDBL will be its status as a Shariah-compliant and purely digital entity, eschewing traditional brick-and-mortar branches in favour of a streamlined, mobile-first approach.Among the services set to be offered to RIDBL customers through this partnership are Interbank Funds Transfer (1IBFT) and 1BILL. In future, PayPak will also be added as part of the offering to customers.The collaboration will enable RIDBL customers to transfer funds to over 32 banks and make payments to over 2,500 companies nationwideUmair Aijaz,…

Officials at a Minneapolis mosque fear it will be targeted again, two days after one of its members was injured in an alleged hit-and-run attack in the parking lot. The attack was the latest in a string of incidents — from mosque burnings to Muslims being attacked at their mosques with pepper spray or, in one instance, a hammer — that have made Minnesota the leading state nationwide for mosque attacks, according to the Council on American-Islamic Relations. “We are on edge,” Jaylani Hussein, executive director of CAIR-MN said Friday at a news conference. “This was an attempted murder. ……

Afghan Voice Agency (AVA): After 232 days of the Gaza war, the longest battle in the history of occupation of Palestine, bombing and shelling from south to north of this region continues and the occupying army aimlessly targets every point.With the closure of Kamal Adwan Hospital, the last medical center in the north of Gaza also ended its activities, so that the fate of thousands of Palestinian patients and wounded in the war in this area is in a halo of uncertainty.The Islamic resistance of Iraq once again targeted a vital target in Eilat (Umm al-Rasrash) located in the occupied…

Hatching of red-necked ostrich chicks highlights success of Saudi royal reserve’s breeding program RIYADH: In a significant boost for biodiversity in the Kingdom, the Imam Turki Bin Abdullah Royal Nature Reserve Development Authority recently announced the hatching of three endangered red-necked ostrich chicks — a species that had been considered extinct in Saudi Arabia. At the end of 2021, the royal reserve launched a scheme to reintroduce ostriches to the wild, creating a habitat for a male and a female. The ostriches soon adapted to the reserve and laid their first clutch of 12 eggs in the spring of 2024,…

Hatching of red-necked ostrich chicks highlights success of Saudi royal reserve’s breeding program RIYADH: In a significant boost for biodiversity in the Kingdom, the Imam Turki Bin Abdullah Royal Nature Reserve Development Authority recently announced the hatching of three endangered red-necked ostrich chicks — a species that had been considered extinct in Saudi Arabia. At the end of 2021, the royal reserve launched a scheme to reintroduce ostriches to the wild, creating a habitat for a male and a female. The ostriches soon adapted to the reserve and laid their first clutch of 12 eggs in the spring…

Qamishli – Kurdish authorities in northeast Syria said Friday that they had handed over a woman and three children to British representatives for repatriation, with a source saying they had been held in a camp for jihadists’ relatives. Five years after the Islamic State group was driven out of its last bastion in Syria, tens of thousands of the jihadists’ family members, including from Western countries, remain in detention camps in the Kurdish-controlled northeast. The Kurdish administration said it had “handed over a woman and three children to the United Kingdom”, following a meeting with a British delegation led its…

Russia has officially confirmed that the Islamic State (ISIS) was responsible for coordinating the devastating attack on a concert hall in Moscow last March, marking the deadliest terrorist incident in the country in two decades. The attack, which claimed the lives of over 140 people, was planned and executed by members of Khorasan Province (IS-K), an ISIS branch active in Afghanistan and Pakistan, according to Alexander Bortnikov, the head of FSB, quoted by the RIA Novosti news agency. “During the investigation, it was established that the preparations, financing, execution, and withdrawal of the terrorists were coordinated via the internet by…

Hatching of red-necked ostrich chicks highlights success of Saudi royal reserve’s breeding program RIYADH: In a significant boost for biodiversity in the Kingdom, the Imam Turki Bin Abdullah Royal Nature Reserve Development Authority recently announced the hatching of three endangered red-necked ostrich chicks — a species that had been considered extinct in Saudi Arabia. At the end of 2021, the royal reserve launched a scheme to reintroduce ostriches to the wild, creating a habitat for a male and a female. The ostriches soon adapted to the reserve and laid their first clutch of 12 eggs in the spring of 2024,…

Prof. Abdur-Razzaq Abdul-Majeed Alaro, a specialist in Islamic banking and finance law, believes that expansion financing could help Nigeria and Africa address the issue of financial exclusion among their populations. Speaking during the 1Oth anniversary of the Islamic Crescent Cooperative Society (Iccs) Ltd yesterday in Abuja, Alaro stated that studies had revealed that financial exclusion has a significant impact on Muslims worldwide.He stated that this is due to mainstream banks engaging in transactions that are forbidden in Islam, leaving Muslim clients with no other options.While acknowledging that the trend is changing with the presence of Islamic cooperatives, banks, and microfinance institutions,…

The Islamic Republic’s loyalists on Friday violently attacked a group of Iranian dissidents who were celebrating Ebrahim Raisi’s death in London, injuring at least four people.Images of an Iranian woman beaten to the ground by a man seemingly loyal to the Islamic Republic of Iran is going viral on social media, and the alleged incident didn’t take place in Iran. It happened in the Western world: London, UK. A memorial ceremony to honor late Iranian president Raisi and his entourage who died in a helicopter crash near the Azerbaijan border took place at Dewan Al-Kafeel Community Center in Wembley, London,…

Support independent journalism in Ukraine. Join us in this fight. Become a member Support us just once The Russian government has acknowledged for the first time that the bombing at Crocus City Hall in Moscow was executed by Islamic State (IS) militants, yet insists on implicating Ukraine in the assault, according to reports by Russian media on May 24. On the night of March 22, shooters launched an attack at the Crocus City Hall located in Krasnogorsk, a district on the outskirts of Moscow, resulting in the death of a minimum of 145 individuals and injuries to over 500. As…

A gunman who is accused of shooting four of his family members and killing an Ontario man was allegedly part of a group that pledged allegiance to the Islamic State, a Crown attorney said during an opening statement in the Brampton murder trial this week. The victim, 25-year-old Naim Akl, became a target when he discovered the group’s loyalties and intended to report them to Canadian authorities, according to Crown Attorney David D’Iorio. The group operated a warehouse business in the Greater Toronto Area. The suspect’s social media posts declared support for ISIS, prompting swift police action as the country…

Islamabad: The district and sessions court in Islamabad on Thursday reserved verdict in the ‘un-Islamic’ nikah case against Pakistan Tehreek-e-Insaf founder Imran Khan and former First Lady, Bushra Bibi, ARY News reported. The court will announce the judgement on May 29.According to ARY News, Judge Shahrukh Arjumand, who heard the case, reserved the verdict before leaving the courtroom for his chamber. The verdict was reserved after the court heard arguments of lawyers from both sides.PTI counsel Usman Riaz Gul and the assistant counsel to (Bushra’s former husband) Khawar Maneka’s lawyer Rizwan Abbasi appeared before the court.As the hearing commenced, the…

In an increasingly interconnected global economy, Islamic traders face a unique set of challenges and opportunities. As Islamic finance continues to gain prominence, it’s crucial for traders adhering to Islamic principles to navigate this complex landscape. This article explores the challenges and opportunities that modern Islamic traders encounter in the global economy. Challenges 1. Lack of Islamic Finance Expertise Another significant challenge is the limited availability of finance experts and advisors. Unlike conventional finance, which has a vast pool of professionals, finance is a specialized field. Finding knowledgeable experts who can guide traders in structuring Sharia-compliant deals can be a…

All about Artificial Intelligence Artificial intelligence has already fallen into the hands of terrorist groups. A report points out that the Islamic State is using AI to create anchors and propagate news and ideals linked to the extremist movement. One of these broadcasts took place shortly after an attack on a concert hall in Russia, in March this year, which left at least 133 people dead. read more Anchor is a clone generated by artificial intelligence The broadcast lasted 92 seconds and showed an anchor in a helmet and group uniform saying that the attack was not a terrorist operation,…