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Subscribe to updates Unsubscribe from updates Download logoThe Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/)and the General Council for Islamic Banks and Financial Institutions (CIBAFI) signed a Grant Agreement to collaborate towards advancing Islamic finance and its role in sustainable economic development. This strategic partnership focuses on evaluating the economic progress of five select member countries of the Organization of Islamic Cooperation (OIC) in specific areas critical to both Islamic finance and sustainable development. The project will delve into the experiences and achievements of leading OIC countries in achieving sustainable economic growth. Key areas of exploration include climate change mitigation, women…
Sorong, Southwest Papua (ANTARA) – Vice President Ma’ruf Amin, in Sorong City on Thursday, inaugurated the Islamic Economy and Finance Committee (KDEKS) of Southwest Papua Province as the first KDEKS in Papua region.”As the youngest province, Southwest Papua has demonstrated its firm commitment to accelerating the growth of the Islamic economy and actualizing equitable, inclusive, and sustainable welfare,” he remarked during the inauguration of the Southwest Papua KDEKS.He urged Southwest Papua Province to mobilize its potential by involving and empowering local and indigenous people along with their businesses in order to take part in realizing the vision of a smart,…
Afghan Voice Agency (AVA) – Kabul: Dr. Abdul Taif Nazari, during his visit to Panjshir Governor Hafiz Muhammad Agha Hakim, participated in the coordination meeting of the Anjos and the Provincial Development Committee, which was held in the presence of the heads of local departments, competent representatives of national and international institutions.The governor of Panjshir said in this meeting that important and key works in terms of health, education, infrastructure, mines, providing employment opportunities have been done in a better way at the level of Panjshir, but due to the many problems that the residents of Panjshir have, it is…
Market Closed – Nasdaq 05:16:01 2024-06-05 pm EDT 5-day change 1st Jan Change 17,188 PTS +1.96% +1.58% +14.50% This article is reserved for members Not a member ? Free registration Wall Street: sudden upturn, causes uncertain May. 31 CF US Equity Indexes Decline This Week as Consensus PCE Inflation Report Fails to Dent Higher-for-Longer Rate Expectations May. 31 MT Equities Mostly Rise as Fed’s Preferred Inflation Measure Meets Expectations May. 31 MT FOR THE WEEK, THE S&P 500 FELL 0.48%, THE NASDAQ DECLINED 1.1%,… May. 31 RE S&P 500, Nasdaq drop as investors weigh inflation data, tech drags May. 31…
Updated Jun 6, 2024, 14:49 ISTEid-ul-Fitr marks the end of Ramadan, celebrating the conclusion of a month-long fast with prayers, feasts, and charity. Eid-ul-Adha, occurring during Hajj, commemorates Prophet Ibrahim’s willingness to sacrifice his son, with rituals including prayers, feasts, and the symbolic sacrifice of an animal (qurbani). Every year, Muslims celebrate two major festivals: Eid al-Fitr (Eid ul-Fitr) and Eid al-Adha (Eid ul-Adha). Eid al-Fitr, translates to “festival of breaking the fast”. It celebrates the end of holy month of Ramadan. Celebrations include exchanging gifts, giving in for charity, practising gratitude for spiritual growth. Eid al-Adha, also known as…
KUALA LUMPUR: Standard Chartered Saadiq Malaysia unveiled a major achievement on the establishment of Islamic Sustainable Accounts, at the recent Global Forum of Islamic Economics and Finance. The bank is proud to mark the milestone with PETRONAS in opening Islamic Sustainable Accounts for its subsidiaries engaged in sustainable activities. This solution demonstrates the bank’s strong commitment to support the United Nations’ Sustainable Development Goals (UN SDGs) by being the first bank to offer a sustainable current account savings account in Malaysia. Cash placed into the Sustainable Account is referenced against projects aligned with Standard Chartered’s Green and Sustainable Product Framework.…
Dubai Islamic Bank has signed a cooperation agreement with the Knowledge Fund Establishment to support the ‘Dubai Schools’ project with a pledge amounting to AED11 million. The move seeks to help realise the goals of the Dubai Social Agenda 33 and Dubai Islamic Bank’s Corporate Social Responsibility strategy, which is focused on supporting various national initiatives and programmes to serve the community. The signing of the agreement is also in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen public-private sector partnerships.…
It is that time of the year again when the rhythm of the takbirs and Muslims’ hearts across the world beat in rhyme ahead of Eid-al-Adha (also known as Bakra Eid, Bakrid, Bakhreid, Eid al-Adha, Eid Qurban, Qurban Bayarami or the Feast of Sacrifice), as the month of Zul Hijjah/Dhul Hijjah of Islamic lunar calendar is around the corner and promises blessings transcending space and time while honouring and commemorating Prophet Ibrahim’s absolute dedication to Allah. Eid ul-Adha is celebrated by Muslims all around the world on the tenth day of Dhu al-Hijjah (the twelfth month of the Islamic lunar…
KUALA LUMPUR, June 5 (Bernama) — OCBC Bank (Malaysia) Bhd has pioneered the inaugural Islamic Sustainable Financing Facility for Permodalan Nasional Bhd’s (PNB) wholly-owned subsidiary, PNB Jersey Ltd, with a £210.0 million (£1=RM5.99) Islamic Green Financing Facility (Green Facility). OCBC Malaysia is the sole lead arranger and sustainability structuring adviser for the green facility to finance the refurbishment of PNB’s investment property located at One Exchange Square, London. The bank shared that the property is an office tower which has been designed to attain the “Excellent” rating under the Building Research Establishment Environmental Assessment Method (BREEAM), with a targeted National Australian Built Environment Rating System (NABERS) UK…
AlHuda CIBE Established Talent Acquisition Platform to Bridge the Islamic Finance Industry’s Skill Gap AlHuda CIBE UAE, a leading Islamic Finance Advisory, consultancy, research, capacity building, and Shariah services provider institution, today announced the establishment of a dedicated Talent Acquisition Platform. This initiative aims to address the growing demand for qualified and Shariah-compliant human resources within the global Islamic finance industry.The Islamic finance industry has witnessed significant growth in recent years, driven by rising demand for ethical and Shariah-compliant financial solutions. However, this rapid expansion has exposed a critical gap in the talent pool. There’s a shortage of qualified professionals…
Saudi Gazette Report RIYADH — An international media forum aimed at bolstering the drive for the global recognition of an independent Palestine State will be held on Sunday, June 9.The Assistant Secretariat for Institutional Communication at the Muslim World League and the Union of News Agencies of the Organization of Islamic Cooperation (UNA-OIC) will jointly organize remotely the event titled: “Media and the Palestinian right: Practical steps to build initiatives to recognize Palestine.” The participants at the forum include officials of the news agencies from Islamic countries, international media unions, representatives of international media, a number of international organizations, and…
Wednesday, 5 June 2024, 5:52 pmArticle: RNZ The Supreme Court has declared the then National-led government broke the law in 2016 when it cancelled a woman’s passport on national security grounds.The Crown has been ordered to pay the woman $30,000 to cover her legal costs, but the court declined to require further payment – saying if there were issues relating to costs in the lower courts those courts should resolve them.The ruling decides an eight-year legal battle shrouded in secrecy, and overturns previous rulings by the High Court and Court of Appeal.As acting Internal Affairs Minister in 2016, Judith Collins…
“If anyone interferes in Afghanistan’s internal affairs, we will respond in kind,” says Islamic Emirate’s Deputy PM Abdul Salam Hanafi, the Islamic Emirate’s deputy prime minister for administrative affairs, stated that the Islamic Emirate does not intervene in the affairs of other countries, and other countries should not interfere in the internal matters of Afghanistan.Photo: Abdul Salam HanafiSource: Google ImagesHanafi added that if any country interferes in Afghanistan’s internal affairs, a similar action will be taken against that country. He stated, “If anyone interferes in Afghanistan’s internal affairs and wants to destroy Afghanistan and torment the Afghan people, then our…
Saudi Arabia’s Supreme Court has called on all Muslims across the Kingdom to participate in the sighting of the crescent moon of the Arabic month Dhu Al Hijjah tomorrow evening, Thursday. This action is expected to help determine the commencement of the new and last month of the Hijr and also the day the festival falls on (Islamic) calendar. Eid Al Adha, the biggest Islamic festival falls on the 10th of Dhu Al Hijjah, PUNCH Online reports. “If Friday, June 7, is confirmed the first day of Dhu Al Hijjah, Eid Al Al Adha will fall on Sunday June 16,”…
Dr Shaikh Yusuf Estes, an American Muslim preacher who reverted from Christianity to Islam in 1991, has been named the Islamic Personality of 2012 by the 16th session of the Dubai International Holy Quran Award for spreading the teachings of Holy Quran, and for his services to Islam, Muslims and humanity. Published: Tue 10 Jul 2012, 12:48 AM Last updated: Tue 7 Apr 2015, 1:15 PM Making the announcement at the Cultural and Scientific Association in Dubai on Monday, Ibrahim Bu Melha, Chairman of the Dubai International Holy Quran Award, said: “Dr Shaikh Yusuf Estes, born in 1944, is often…
Saudi Gazette Report RIYADH — An international media forum aimed at bolstering the drive for the global recognition of an independent Palestine State will be held on Sunday, June 9.The Assistant Secretariat for Institutional Communication at the Muslim World League and the Union of News Agencies of the Organization of Islamic Cooperation (UNA-OIC) will jointly organize remotely the event titled: “Media and the Palestinian right: Practical steps to build initiatives to recognize Palestine.” The participants at the forum include officials of the news agencies from Islamic countries, international media unions, representatives of international media, a number of international organizations, and…
ISTANBULThe Organization of Islamic Cooperation (OIC) condemned Wednesday an Israeli flag march in East Jerusalem to mark Israel’s occupation of the city in 1967.According to witnesses, Israeli right-wing groups staged the march through Jerusalem’s Old City, with right-wing settlers gathering provocatively in the city’s Muslim Quarter.Israeli right-wingers attacked Palestinian residents in Jerusalem’s Old City during the march, witnesses said.In a statement, the Jeddah-based organization strongly denounced Israeli incursions “into Al-Aqsa Mosque complex in East Jerusalem and allowing settlers to organize a provocative march” in the city.“Jerusalem is the capital of the State of Palestine and is an integral part of…
DOT Secretary Christina Frasco with Mindanao local and cultural performers, participated in the Mindanao Tourism Expo (MTEx) held at the Limketkai Center in Cagayan de Oro City. Photo from the Department of Tourism Facebook page. The Philippines was hailed a Muslim-friendly nation at the 2024 Halal in Travel Global Summit in Singapore, the second time it was recognized on the Mastercard-CrescentRating Global Muslim Travel Index (GMTI). GMTI released its annual report benchmarking destinations in the Muslim travel market on May 30, naming the Philippines an “emerging Muslim-friendly non-Organization of Islamic Cooperation (OIC) Destination.” The report acknowledged the commendable efforts of…
Ahead of this year’s Eid-el-Kabir festival, the President-General of Nigerian Supreme Council for Islamic Affairs (NSCIA) and Sultan of Sokoto, His Eminence Muhammad Sa’ad Abubakar III, has enjoined the Muslim Ummah in Nigeria to look out for the crescent moon of Dhul-Hijjah 1445AH after sunset on Thursday, Dhul-Qa’dah 29, 1445AH, equivalent to Thursday, June 6, 2024. Sultan Abubakar III gave the directive in a statement signed by the deputy secretary general of NSCIA, Prof. Salisu Shehu, on Wednesday. He stated that: “Scientifically, the expected time for the conjunction of the moon is on Thursday, 6th June 2024 by 1:38 p.m.…
Islamic authorities say more than 1,100 Israelis encroached on Al-Aqsa Mosque compound during provocative annual parade.Thousands of Israelis have joined a march through occupied East Jerusalem, with some attacking Palestinians and shouting racist slogans, as part of an annual demonstration marking Israel’s occupation of the city. Footage shared by local journalists on Wednesday showed young men and teenagers chanting, “Death to the Arabs” and “May your village burn” at the so-called “Flag March”. The parade has come amid heightened tensions as Israel pushes on with its war on Gaza, which has killed more than 36,500 people, mostly women and children,…
The Governor of Cross River State’s wife, Rev. Eyoanwan Bassey Otu, has promised the Federation of Muslim Women’s Association of Nigeria (FOMWAN) her full support and collaboration, acknowledging the organisation’s vital role in creating a future where empowered women can serve as positive influences in society. The governor’s wife revealed this information during a meeting with the Muslim Women Organisation, headed by Ameerah Hajia Lateefah Yahaya Idinye, at the governor’s office in Calabar. Reverend Otu emphasised FOMWAN’s dedication to health, education, and empowering women. He highlighted the organisation’s focus on promoting both Islamic and Western education as instrumental in bringing…
KUWAIT: More women in Kuwait are resorting to freeze their eggs to preserve their productive potentials. This came as a result of the growing global trend of women delaying their marriages and childbearing for the sake of prioritizing their higher educational or career goals, stated Dr Hazem Al-Rumaih, Consultant in Obgyn and reproductive medicine and Head of Reproductive Medicine unit at New Jahra Hospital in Kuwait. “Every day, I see one or two cases from all walks of life seeking this procedure,” he said.While this procedure is permissible under Islamic Sharia, there are still some religious restrictions on it, said…
The mBridge platform is a key initiative under the CBUAE’s Financial Infrastructure Transformation programme. WAM The Central Bank of the UAE (CBUAE) together with the Bank for International Settlements Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, and the Digital Currency Institute of the People’s Bank of China, have launched the Minimum Viable Product (MVP) platform of the mBridge project – a multi-central bank digital currency (CBDC) common platform for wholesale cross-border payments and settlement. This is the first multi-CBDC platform which has reached the MVP phase, ready for use by early adopters. In…
KUALA LUMPUR, June 5 (Bernama) — OCBC Bank (Malaysia) Bhd has pioneered the inaugural Islamic Sustainable Financing Facility for Permodalan Nasional Bhd’s (PNB) wholly-owned subsidiary, PNB Jersey Ltd, with a £210.0 million (£1=RM5.99) Islamic Green Financing Facility (Green Facility). OCBC Malaysia is the sole lead arranger and sustainability structuring adviser for the green facility to finance the refurbishment of PNB’s investment property located at One Exchange Square, London. The bank shared that the property is an office tower which has been designed to attain the “Excellent” rating under the Building Research Establishment Environmental Assessment Method (BREEAM), with a targeted National Australian Built Environment Rating System (NABERS) UK…
Hossein Salami, commander-in-chief of the Islamic Revolutionary Guard Corps (Photo: Fars News) Israel “should await Iran’s response” the commander of Iran’s Islamic Revolutionary Guard Corps threatened on Wednesday, after an alleged Israeli strike killed a high-ranking IRGC member in Syria for the first time since the death of a senior IRGC general in Syria in April.IRGC commander Maj. Gen. Hossein Salami offered his condolences on the death of Saeed Abyar, who was killed in an airstrike near the city of Aleppo in northern Syria on Tuesday while on “an advisory mission,” according to the Iranian regime-affiliated news outlet Tasnim.The New…