Author: islamnewsday
A court had ruled in February that the marriage of the former prime minister and Bushra Bibi violated Islamic law.Islamabad, Pakistan – A court in Pakistan has rejected an appeal by former Prime Minister Imran Khan and his wife to suspend a February ruling that their 2018 marriage violated Islamic law. The decision by the court in Islamabad on Thursday means that Khan and his wife, Bushra Bibi, will remain behind bars. The seven-year jail sentence, handed on February 3, was announced five days before the country’s general elections and followed two other convictions for Khan in separate cases. Both…
Trend expected to continue in 2024–2025 Read more… GCC countries, Malaysia, Indonesia, and Turkiye are increasingly major emerging-market (EM) debt issuers, Fitch Ratings says. In the first five months of 2024, they accounted for 51 per cent of all US dollar debt issued by EMs (excluding China; 2023: 43.7 per cent; 2020: 32.8 per cent). “We expect this growth to continue in 2024–2025, driven by government initiatives to develop the debt capital markets (DCM), diversify funding, finance fiscal deficits, government projects, and maturing debts. Sukuk is also maturing as a key funding and policy tool, accounting for 12.4 per cent…
The International Criminal Court (ICC) on Wednesday convicted Al-Qaida-linked militant leader Ag Abdoul Aziz Ag Mohamed Ag Mahmoud of war crimes and crimes against humanity for his alleged role in terrorizing the civilian population of the Malian city of Timbuktu.The case centered on the 2012-2013 northern Mali conflict, which began with an uprising by the local Tuareg population, and quickly escalated after a military coup created a power vacuum. Islamist groups, including Ansar Dine and Al-Qaeda in the Islamic Maghreb (AQIM), seized control of major northern cities, imposing strict Sharia law and committing human rights abuses. Their southward advance in…
A group representing U.S. special forces warned in a letter this week that the U.S. faces an ultra-high threat of getting hit by a major Islamic terrorist attack because of President Joe Biden’s disastrous foreign policy and open border policies.Special Operations Association of America (SOAA) Chairman Christopher Miller, who served as Acting Secretary of Defense at the end of President Donald Trump’s first term in office, said in a letter that the organization was “gravely concerned by the current heightened risk of terrorist attacks against targets inside the United States and both U.S. and allied interests abroad.”The organization — which…
An exhausted Islamic Relief aid worker* in Gaza confesses the difficulty of staying strong for his children as the situation in Gaza worsens. It has been a long time since my last blog. I’d fallen into a depression, and I really couldn’t write. I remember the last time I sat down to write; it was at the start of the operation in Rafah. Since then, I’d lost hope that our misery would ever end. I’d started believing that we’re destined to endure this suffering for what remains of our lives. I was barely speaking to anyone in the house and…
Mashreq Pakistan, a division of the renowned MENA financial institution Mashreq, has achieved a significant regulatory milestone in its entry into the Pakistani market. The State Bank of Pakistan has granted Mashreq Pakistan an In-Principle Approval (IPA) to launch Islamic banking operations, marking a pivotal moment in the bank’s commitment to ethical and innovative financial solutions aligned with Shariah principles. This approval underscores Mashreq Pakistan’s dedication to enhancing Pakistan’s financial landscape and catalyzing its future growth. In parallel, Mashreq is advancing towards securing a restricted license to commence pilot digital retail banking operations in Pakistan. To commemorate this achievement, Mashreq…
ALMATY, Kazakhstan, June 27. The share of Islamic banks in the total volume of banking assets in Kazakhstan is 195 billion tenge ($419.2 million), the Deputy Chairman of the Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market Olzhas Kizatov said, Trend reports. He made the remark during the session “Islamic Finance in Central Asia” within the framework of the Eurasian Development Bank (EDB) business forum in Almaty. “The development of Islamic finance contributes to the increase of financial inclusion and access to Islamic finance for broad segments of the population that cannot use standard instruments.…
Islamabad : A district and sessions court in Islamabad declined the pleas of former Pakistan Prime Minister Imran Khan, as well as his wife, Bushra Bibi, to suspend their seven-year sentences in the Iddat Case on Thursday, reported Dawn.The verdict, which had been reserved on Tuesday was notably announced by Additional District and sessions judge (ADSJ) Afzal Majoka today.Lawyers, women activists, and members of civil society all harshly condemned the Iddat conviction as a “blow to women’s right to dignity and privacy.”The ruling had been met with protests in Islamabad by activists and criticism in Karachi by demonstrators who were…
Jakarta (ANTARA) – Vice President Ma’ruf Amin accentuated that strengthening corporate governance and digitalization is the key to developing the national Islamic insurance industry.”Corporate governance must be improved so that services for consumers can be better. Apart from that, community confidence and literacy as well as digitalization are key to expanding the reach,” he noted in a statement of the Vice President’s Secretariat.He made the statement while delivering his remarks virtually at the launch event of the new logo of PT Reasuransi Syariah Indonesia (ReINDO Syariah) from the official residence of the vice president in Jakarta on Thursday.Amin noted that…
KARACHI: The State Bank of Pakistan (SBP) has granted, In-Principal Approval (IPA), to Mashreq Pakistan to commence digital Islamic banking operations within the country. Mashreq is actively progressing towards acquiring a license from the State Bank of Pakistan to initiate pilot digital retail banking operations in Pakistan. This is step is as per the Mashreq Bank’s commitment to providing ethical, innovative and robust banking system that aligns with the principles of Shariah, thereby contributing to the nation’s financial landscape and becoming a catalyst for its future growth. To mark this momentous occasion, Mashreq Pakistan organized a celebratory event with its…
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 years helping manufacture rockets, adding that he was…
KUALA LUMPUR, June 27 — The study report by the Special Committee to Review the Competency of the State Legislative Assemblies to Enact Islamic Laws is expected to be completed before the end of the year. Deputy Minister in the Prime Minister’s Department (Religious Affairs) Zulkifli Hasan said the report will be presented to the National Council for Islamic Religious Affairs (MKI) and the Council of Rulers upon completion.Advertising Advertising Zulkifli said the committee has been actively working and has held 22 meetings so far. “The committee will prepare a comprehensive report that includes the study results and perspectives on…
KARACHI: The State Bank of Pakistan (SBP) has granted, In-Principal Approval (IPA), to Mashreq Pakistan to commence digital Islamic banking operations within the country. Mashreq is actively progressing towards acquiring a license from the State Bank of Pakistan to initiate pilot digital retail banking operations in Pakistan. This is step is as per the Mashreq Bank’s commitment to providing ethical, innovative and robust banking system that aligns with the principles of Shariah, thereby contributing to the nation’s financial landscape and becoming a catalyst for its future growth. To mark this momentous occasion, Mashreq Pakistan organized a celebratory event with its…
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…