Author: islamnewsday
In a major move, the Reserve Bank of India (RBI) has decided not to pursue a proposal for introduction of Islamic banking in the country. Replying to an RTI query, the central bank said the decision was taken after considering “the wider and equal opportunities” available to all citizens to access banking and financial services. Islamic or Sharia banking is a finance system based on the principles of not charging interest, which is prohibited under Islam. The issue of introduction of Islamic banking in India was examined by the RBI and the government of India, it said. “Taking into account,…
Global experts from the health and financial sectors emphasised the critical role of Islamic finance in transitioning the economy towards net zero global commitments. A panel session name ‘A Just Transition towards a Shared Future’ at the Global Forum of Islamic Economics and Finance (GFIEF) explored the relationship between economic growth, inclusion, and climate action and the role of Islamic finance in driving the energy transition journey. Sunway Centre for Planetary Health Professor and Director Tan Sri Dr. Jemilah Mahmood spoke about the urgency of addressing climate change and the inequality it exacerbates, calling for a mindset change when financing…
Politics By Victor Nava Published May 29, 2024, 11:24 p.m. ET Iranian Supreme Leader Ayatollah Ali Khamenei – known for brutally suppressing demonstrations in the Islamic Republic – expressed his support on Wednesday for anti-Israel protesters on US college campuses, claiming they are “on the right side of history.” “Dear university students in the United States of America, you are standing on the right side of history,” the 85-year-old radical cleric posted on X. “You have now formed a branch of the Resistance Front and have begun an honorable struggle in the face of your government’s ruthless pressure – which…
Bank of Maldives (BML) has launched a new promotion for BML Islamic customers. The country’s national bank announced the new promotion for BML Islamic customers on Wednesday. BML revealed that a lucky draw will be taken among the customers who apply for BML Islamic credit cards and get approved, during the promotion period. A grand winner will be selected through the lucky draw, which promises a cash prize of MVR 25,000 at the end of the promotion. The bank revealed that customers may apply for BML Islamic Amex Credit cards via Internet banking or on the mobile app. The promotion…
– Advertisement – By Arul Louis New York– The Islamic State terrorist organisation has issued an ominous threat against the T20 World Cup match between India and Pakistan to be held here next month and New York officials said on Wednesday that they are heightening security. New York Governor Kathy Hochul said that she has “directed the New York State Police to engage in elevated security measures, including an increased law enforcement presence, advanced surveillance, and thorough screening processes”. Bruce Blakeman, the head of Nassau County, bordering New York City, where the match will take place, said: “We make sure…
The 2024 Muslim International Film Festival counters stereotypical portrayals of Islam in Western cinema. Here are the festival highlights, chosen by TNA The UK Muslim Film charity has launched its inaugural Muslim International Film Festival (MIFF) in London to spotlight this year’s most commendable films and filmmakers, showcasing the breadth and depth of Muslims worldwide. From the UK to Morocco, Jordan, and Palestine, the program features an eclectic mix of features and short films, as well as industry panels and events, for patrons to attend at Odeon Luxe Leicester Square from Thursday, May 30th to Sunday, June 2nd. “We are…
Stack’s Bowers Galleries announces a special auction in September 2024 focused on Islamic and Central Asian coinage. Anchored by a large selection of historical coinage from Persia, this sale promises to offer seldom seen Islamic issues from diverse rulers that span nearly the entire history of Islamic coinage. Classical types from the Umayyad, Abbasid, and Ottoman Caliphates are well represented, as are more localized issues of the Mamluks, Seljuks, Qajars, and Pahlavis, with several rare and seldom seen issues. In addition to Islamic material, several interesting pre-Islamic and ancient issues are featured, with charming Parthian and Sassanian pieces, along with…
Coming to a Neighborhood Near You: Islamic Executions Edited by: Fern Sidman In recent years, Western countries have faced a surge in immigration from regions plagued by conflict and extremist ideologies. While the humanitarian imperative to offer refuge is strong, it is crucial to understand the potential consequences of importing individuals whose beliefs and practices starkly contrast with the principles of human rights and equality that underpin Western societies. The following case from Syria in 2015 starkly illustrates the severe risks involved. In a harrowing video from 2015, a member of Al-Nusra Front, the Syrian branch of al-Qaeda, publicly executed…
Srinagar, May 30s: The Department of Economics in collaboration with the Internal Quality Assurance Cell (IQAC) of Srinagar Women’s College Batpora, Zakura, organized a three day workshop on “Econometrics and Its Applications in Social Sciences” from 28th May to 30th May 2024. The worthy principal, Prof. Tehmina Yousuf, delivered the inaugural address where he highlighted the importance of research and faculty and encouraged research scholars to participate in such academic activities. The workshop was coordinated by Dr. Aijaz Ahmad Bhat, Assistant Professor, Department of Economics, and Dr. Shazia Shafiq Associate Professor, Department of History. The primary objective of the workshop…
Monroe residents voiced their opinions on the proposed building to replace the current Monroe-Woodbury Islamic Center on Orange Turnpike, during the May 28 Monroe Village Planning Board meeting. To accommodate the anticipated larger crowd, the meeting was held in Monroe Town Hall. Ryan Nasher, the project engineer, provided an overview of the proposed plan for a 20,400-square-foot building and noted that changes were made to the plans to address concerns regarding traffic, landscaping, and lighting. He explained that the mosque has been at its current location since 2015 and the new building is necessary to meet the growing congregation as…
The financial sector of Bangladesh experienced quite a bit of turbulence in recent times and in fact, is not out of the woods yet. In particular, there has been significant erosion of public confidence towards the country’s banking sector. The classification of the commercial banks in different color zones (red, amber, green etc) reflecting the magnitude of their risk exposures, the ill prepared move towards bank mergers, sudden takeover of the ownership of several banks, particularly Islamic type banks by a lone business conglomerate, the news of big sums of money being given out as credit from these banks to…
Israeli hostage Alexander (Sasha) Trufanov as seen in an undated propaganda video released by the Palestinian Islamic Jihad terror group on May 30, 2024. Photo: Screenshot The Palestinian Islamic Jihad terrorist group on Thursday released a second propaganda video this week featuring Israeli hostage Alexander (Sasha) Trufanov, 28, who was kidnapped by Palestinian terrorists during Hamas’ Oct. 7 massacre across southern Israel. In the video, Trufanov says he is doing well and criticizes Israel’s prime minister and government in remarks that were likely scripted by his captors. There was no information about when the video was filmed. However, Trufanov refers to…
GRAND MOSQUE OF DJENNÉ: The world’s largest mud-brick building used to draw tens of thousands of tourists to central Mali every year. Internal strife now threatens the site on the UNESCO World Heritage in Danger list since 2016. PHOTO COURTESY OF WIKIPEDIADjenne, Mali (AP) – Kola Bah used to earn a living as a tour guide in Mali’s historic city of Djenné, once a center of Islamic learning known for the sprawling mud-brick mosque that has been on the UNESCO World Heritage in Danger list since 2016.The Grand Mosque of Djenné – the world’s largest mud-brick building – used to…
By Sharifah Pirdaus Syed Ali KUALA LUMPUR, May 30 (Bernama) — Islamic Finance can play a prominent role in accelerating the pace of economic growth particularly that which is sustainable and inclusive, said economists. Juwai IQI global chief economist Shan Saeed said financial markets need stability and norm. The ructions in the markets are of a magnitude not seen in generations, whereby uncertainty, nervousness and jittery behaviour are putting the market valuation in jeopardy, he noted. Shan said the alchemy of the global financial markets has changed dramatically in the last 16 to 17 years. “So there are more deliberations in the…
A shooting attack aimed at the Israeli community of Bat Hefer on May 29 has led to concerns that terrorist groups are increasingly operating in the West Bank. These types of attacks have spread over the last year. It began with Palestinian Islamic Jihad in Jenin and also other armed groups in Nablus, but it has now spread across the northern West Bank. A ramming attack killed two soldiers in the West Bank near Nablus. It’s important to see the elephant in the room here. The attacks on Bat Hefer are part of a growing number of terror incidents emanating…
Officials at the meeting in Madrid discussed the latest attacks in Rafah while renewing their calls for an immediate ceasefire in the Gaza Strip. Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has commended Spain’s recognition of Palestine’s statehood, during a summit aimed at mobilising international action to stop the Israeli war on the Gaza Strip. “We appreciate Spain’s efforts towards the war on Gaza and value its position regarding the recognition of an independent Palestinian state,” Sheikh Mohammed, who is also Qatar’s foreign minister, said on X. The Arab-Islamic summit in Madrid gathered officials from Arab and Islamic…
Officials at the meeting in Madrid discussed the latest attacks in Rafah while renewing their calls for an immediate ceasefire in the Gaza Strip. Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has commended Spain’s recognition of Palestine’s statehood, during a summit aimed at mobilising international action to stop the Israeli war on the Gaza Strip. “We appreciate Spain’s efforts towards the war on Gaza and value its position regarding the recognition of an independent Palestinian state,” Sheikh Mohammed, who is also Qatar’s foreign minister, said on X. The Arab-Islamic summit in Madrid gathered officials from Arab and Islamic…
Riyadh. The Islamic Development Bank (IsDB) has called for the need to nurture entrepreneurial leaders to help propel the world towards a future rooted in ethical principles and sustainable development. The bank made the call during the 18th Global Islamic Finance Forum recently held in Riyadh, Kingdom of Saudi Arabia. The forum attracted an array of thought leaders, policymakers, financial experts, and major stakeholders in the Islamic finance industry. It was also held on the sidelines of the IsDB Group Annual Meetings and Golden Jubilee Celebration, themed: Innovation, Entrepreneurship, and Leadership in Islamic Finance. In his opening remarks, IsDB President…
Meethaq Islamic banking, from Bank Muscat-the leading Islamic banking institution in the Sultanate of Oman, has achieved a groundbreaking digital transformation by seamlessly migrating from a legacy Core banking system to Temenos Core for Retail and Corporate banking, with the support of Systems Limited, a global system integrator. Meethaq stands as the largest Islamic Banking window in Oman, offering a full suite of Shari’a compliant Islamic banking products and services, including deposit products, consumer financing, credit cards, corporate banking, internet banking, mobile banking and 24X7 Contact Center for valued customers and corporate clients. Meethaq provides Shari’a compliant financial solutions to…
An Islamic scholar, Muhammad Alkandawi, and his spouse, Ubaida Abdulmalik, have been apprehended by men of the Nigerian Army in the Federal Capital Territory. Naija News understands that the couple were whisked away from their residence in the Dei-Dei neighbourhood in Abuja. Reports indicate that the cleric’s wife, along with three of his associates, were initially detained on Saturday, followed by the cleric’s arrest on Tuesday (yesterday). The cleric was said to have released a video and audio recording earlier where he mentioned that his three companions were released during their arrest, while his wife was taken to the Mogadishu…
IANS- The Islamic State terrorist organization has issued an ominous threat against the T20 World Cup match between India and Pakistan to be held here next month and New York officials said on Wednesday that they are heightening security. New York Governor Kathy Hochul said that she has “directed the New York State Police to engage in elevated security measures, including an increased law enforcement presence, advanced surveillance, and thorough screening processes”. Bruce Blakeman, the head of Nassau County, bordering New York City, where the match will take place, said: “We make sure that we are on top of every…
ISLAMABAD: The Council of Islamic Ideology (CII) on Wednesday condemned the culture of mob vigilantism in the country and reiterated its call for the establishment of special courts to try such cases.But there was a consensus at the meeting that desecration of Holy Quran did occur in Sargodha on Saturday (May 25) and condemned both sides for the mayhem that followed.The meeting was chaired by the CCI’s new head, Dr Muhammad Raghib Hussain Naimi. An angry mob went on the rampage in Sargodha’s Mujahid Colony on Saturday after rumours started circulating that some shredded pages of the Holy Quran had…
(MENAFN- IANS) Madrid, May 30 (IANS) Spanish Prime Minister Pedro Sanchez held a meeting on Gaza with a delegation of the Ministerial Committee commissioned by the Joint Arab-Islamic Extraordinary Summit here, a day after Spain’s official recognition of Palestinian statehood.The delegation thanked Spain for the “historic and courageous” step that the recognition of a Palestinian state represents at this time. It is not just a symbolic step, but one that keeps alive the idea of the two states, the delegation said on Wednesday, according to a Spanish government statement.The meeting highlighted Spain’s commitment and willingness to negotiate with Arab and…
JAKARTA – Turkish President Recep Tayyip Erdogan criticized Islamic countries, the United States to Europe, as Israel expanded its military operations to Rafah in southern Gaza, causing the death toll and injuries to the Palestinian enclave to continue to grow.Israeli airstrikes against Rafah killed dozens of people on two separate occasions, 45 people in Sunday’s attack and 21 people in Tuesday’s attack.Speaking at a parliamentary meeting of the Justice and Development Party (AK Party) in the capital Ankara, President Erdogan condemned the failure of fellow Muslim countries to take joint action against Israeli airstrikes.”I have a few words to convey…
By Jason Wahlang The March 2024 terrorist attack by the Islamic State Khorasan Province (ISKP) in Moscow Oblast brings to attention the Islamic State’s long-standing animosity towards the Russian state. The group also seeks to destabilise the relationship between Russia and Central Asia. Russia can be expected to deal with the ISKP threat more aggressively, including tighter border controls. The Islamic State Vilayat Caucasus, founded in 2015, also exists which operates in the historically conflict-prone Northern Caucasus region. On 22 March 2024, a major terrorist attack took place in the Crocus City Hall, Krasnogorsk, in the Moscow Oblast, in which…