Author: islamnewsday

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,…

Russia on Friday said for the first time that Islamic State coordinated the March concert hall attack in Moscow, the country’s deadliest terror attack in two decades. “In the course of the investigation… it has been established that the preparations, the financing, the attack and the retreat of the terrorists were coordinated via the internet by members of Khorasan Province (IS-K),” an IS branch active in Afghanistan and Pakistan, Alexander Bortnikov, the head of FSB, was quoted as saying by the RIA Novosti news agency. IS has claimed responsibility on multiple occasions for the March 22 attack which killed over…

A gunman who is accused of killing a young Ontario man and shooting four of his family members at their small Mississauga restaurant in 2021 was allegedly part of a trio who had pledged allegiance to the listed terrorist group Islamic State, a crown attorney said in an opening statement in the Brampton murder trial this week. The victim, 25-year-old Naim Akl, became a target when he realized the loyalties of the group, which operated a warehouse business in the Greater Toronto Area, and planned to go to Canadian authorities, said Crown Attorney David D’Iorio. “They weren’t just buying and…

(MENAFN- Swissinfo) The Swiss Federal Criminal Court today sentenced two sisters living in the canton of Vaud to suspended prison terms for having travelled, along with a minor son belonging to one of them, to Syria in 2015 to join the Islamic State (IS) terrorist organisation. This content was published on May 24, 2024 – 11:42 2 minutes Keystone-SDA العربية ar أحكام بالسجن مع وقف التنفيذ لشقيقتين سويسريتين بعد محاولة الانضمام لداعش Read more: أحكام بالسجن مع وقف التنفيذ لشقيقتين سويسريتين بعد محاولة الانضمام لداعش The Federal Criminal Court found the women guilty of violating the Swiss federal law banning…

A gunman who is accused of killing a young Ontario man and shooting four of his family members at their small Mississauga restaurant in 2021 was allegedly part of a trio who had pledged allegiance to the listed terrorist group Islamic State, a Crown attorney said in an opening statement in the Brampton murder trial this week. The victim, 25-year-old Naim Akl, became a target when he realized the loyalties of the group, which operated a warehouse business in the Greater Toronto Area, and planned to go to Canadian authorities, said Crown Attorney David D’Iorio. “They weren’t…

The Muslim Congress (TMC) in Oyo State has expressed gratitude to the chairman of Dangote Group, Alhaji Aliko Dangote; the Muslim Community Oyo State (MUSCOYS) and chairman, Alhaji Kunle Sanni, for their contributions to easing the economic burden of Muslims in the state during the month of Ramadan. In a statement, the state coordinator of TMC, Alhaji Daud Oladosu, recalled that “in a gesture of compassion and solidarity,” Alhaji Dangote donated 30,000 50kg bags of rice to the Muslim Community Oyo State to alleviate hardship among the Muslim population. “These relief packages were promptly distributed to various Islamic organisations across…

The New Arab Meets: Actor-producer Sajid Varda to learn more about the Muslim International Film Festival, showcasing diverse Muslim stories. The inaugural Muslim International Film Festival (MIFF) has arrived at a pertinent time. This cinematic celebration of stories and storytellers from the Muslim world will take place in London across four days, from May 30 to June 2, only a few months after the UN warned that Islamophobia had risen to “alarming levels.” The last seven months of Israel’s war on Gaza have certainly widened the world’s eyes to the dehumanisation of Muslims in the Occupied Palestinian Territory and beyond.…

Prominent Islamic scholars have  highlighted political and economic disparities, alongside corruption, as significant factors driving the rise of violent Islamic movements across Sub-Saharan Africa. The discussion, streamed on various social media platforms, television, and online radio stations, featured distinguished scholars with expertise in Islam in Africa.Addressing the theme “Islam in Africa,” during the  Toyin Falola Interview Series, Professor Cheikh Anta Babou from the University of Pennsylvania stated  the evolving nature of Islamic radicalism in the region. He argued that contemporary Islamic movements are more influenced by political and economic circumstances than religious doctrine, noting the disillusionment of former Marxist and Maoist leaders…

KUALA LUMPUR (May 24): Malaysia is the leader in the field of Islamic financial technology (fintech) but the ecosystem is still very small. Islamic fintech is drastically lagging compared to other fintechs and startups, said the panel on “Maintaining Malaysia’s #1 Position As The Leader in Islamic Fintech”, held at the DisruptInvest Summit 2024.   Kestrl founder and chief operating officer Daeng Termizi noted he has been in the business of Islamic fintech for a few years but has not seen new players in the field for some time. “[It’s] hard to be in a heavily regulated industry if the…

(MENAFN- AsiaNet News) Russia on Friday announced for the first time that the Islamic State coordinated the March concert hall attack in Moscow, marking the country’s deadliest terror attack in two decades. However, it further stated thatUkrainian military intelligence was directly involved in the deadly attack. “In the course of the investigation… it has been established that the preparations, the financing, the attack and the retreat of the terrorists were coordinated via the internet by members of Khorasan Province (IS-K),” an IS branch active in Afghanistan and Pakistan, Alexander Bortnikov, the head of FSB, was quoted as saying by the…

Russia on Friday for the first time said that the Islamic State (IS) 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 March 22 attack which killed more than 140 people, but Moscow has repeatedly tried to link Ukraine and the West to the attack.RIA Novosti news agency quoted Russian Federal Security Service Director Alexander Bortnikov as saying that “preparations, the financing, the attack and the retreat of the terrorists were coordinated via the Internet by members of Khorasan Province [IS-K],” an IS branch…

Since early October of last year, it has been increasingly apparent that the vast majority of chatbots — including OpenAI’s Chat GPT, Google’s Bard, and Microsoft’s Bing — are influencing narratives when it comes to the Gazan humanitarian crisis and war crimes being instigated by the Zionist state. [1] While chatbots such as the above are being used, often with good intentions, to ask questions about the ongoing oppression against Palestine, responses are occasionally manufacturing critical things like dates and names, or giving completely untrue information. [2] At the same time, non-Palestinian users of social media are struggling to use…

The Turkish central bank’s governor on Friday said Türkiye is on the verge of disinflation and pledged to maintain the necessary resolve to achieve it. “We will persist in maintaining the determination necessary for the realization of the disinflation trajectory,” Fatih Karahan, the governor of the Central Bank of the Republic of Türkiye (CBRT), told the Albaraka Islamic Finance Summit in Istanbul. Karahan stressed they were aware that “establishing price stability” is the most significant contributor to societal well-being. The inflation, currently running at nearly 70%, is expected to peak at as high as 75% in May, with a projected…

The leader paid a visit to the late president’s home on Wednesday night, meeting with his family members. The Leader had earlier today held Raeisi’s grandchildren in his arms at the start of the funeral ceremony at Tehran University campus.  Speaking to the family of the late president, Ayatollah Khamenei considered the late president to be the symbol of the motto of the Islamic Revolution. He further described the people’s love for the late President Raeisi as “a message to the world that would benefit the Islamic Republic.” The Leader of the Islamic Revolution described the loss of Mr. Raeisi…

Two Tunisian-born brothers and a third Iraqi man are to face trial at Preston Crown Court on 7 October 2025, to answer terrorism-related charges, some of which was directed at the Jewish community in Manchester. Walid Saadaoui, 36, and Amar Hussein, 50, are accused of preparing acts of terrorism between 13 December 2023 and 9 May this year. Walid’s brother, Bilel Saadaoui, 35, is charged with failing to disclose information about acts of terrorism. On Friday 24 May, after an initial hearing two weeks ago at Westminster Magistrates, the three men appeared by videolink from custody at Wormwood Scrubs Prison,…

The assets of Islamic banks operating in the UAE increased by about $23.41 billion over the past 12 monthThe assets of Islamic banks operating in the UAE increased by about AED86 billion ($23.41 billion) over the past 12 months, according to the latest statistics from the Central Bank of the UAE (CBUAE). The statistics showed that the assets of Islamic banks reached AED717.7 billion ($195.39 billion) at the end of February 2024, reflecting an annual increase of 13.61 percent compared to approximately AED631.7 billion ($171.98 billion) at the end of February 2023. Islamic banks’ deposits grow rapidly The Islamic banks’…

Mohammad Rasalouf By Leo Jacob Mohammad Rasoulof has arrived. The dissident Iranian director is at the Cannes Film Festival to present his new film, The Seed of the Sacred Fig, in competition, just weeks after he dramatically escaped Iran on foot, fleeing an 8-year prison sentence. Details of the director’s harrowing escape were made public last week after he was safely away, ensconced in an undisclosed location in Germany. He made the decision to leave, to abandon his homeland and walk across the mountainous borderland after the authorities sentenced him to a lengthy prison term. His sentence also included a…

A view of the Federal Criminal Court in Bellinzona. Keystone/Alessandro Crinari The Swiss Federal Criminal Court today sentenced two sisters living in the canton of Vaud to suspended prison terms for having travelled, along with a minor son belonging to one of them, to Syria in 2015 to join the Islamic State (IS) terrorist organisation.  This content was published on May 24, 2024 – 11:42 The Federal Criminal Court found the women guilty of violating the Swiss federal law banning Al-Qaida and IS groups, and sentenced the younger of the sisters, now 51, to an 18 month sentence and the…

Raqami Islamic digital banking and 1LINK join forces. Source: Shutterstock.com 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…

Here’s a roundup of key developments across the Islamic lifestyle ecosystem during the first two weeks of May Editor’s note: Hajj season is round the corner, so its only fair that Saudi Arabia dominates the news. It launched a digital identity service to facilitate Hajj pilgrims, and aims to test flying taxis and drones this season. Operational Developments Saudi Arabia Saudi Arabia launches digital ID service as Hajj draws near Saudi Arabia introduces a digital identity service for Hajj pilgrims, aiming to enhance their experience through technological innovation aligned with the goals of Vision 2030.   Launched by the Ministry of Interior,…

By Gloria Mathias Today 1LINK Codebase Technologies Digibanc platform Raqami Islamic Digital Bank Ltd. (RIDBL) has announced a strategic partnership with 1LINK, Pakistan’s Payment Service Provider / Payment Service Operator. The signing ceremony took place at the 1LINK Office in Park Towers, Karachi and was attended by the senior management of both organizations, symbolizing their dedication to innovation with excellence. 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…

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…

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. Issued on: 24/05/2024 – 10:26 1 min IS has claimed responsibility on multiple occasions for the March 22 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 quoted as saying by the RIA Novosti news agency that “preparations, the financing, the attack and the retreat of the terrorists were coordinated via the internet by members of…

Islamic Relief has released a new report detailing our response to the devastating earthquake that struck central Morocco on 8 September 2023. The 6.8 magnitude earthquake killed families while they slept in their beds and flattened whole villages. The aftershocks that followed also caused untold damage to the surrounding regions and were felt all across the country. Communities left in ruins The earthquake was the most powerful to hit Morocco in more than 60 years. Close to 3,000 people lost their lives, while thousands more were injured. More than 2.8 million people were affected – including 100,000 children. Eight months…