LONDON: The research arm of the Islamic Development Bank plans to use blockchain technology to develop Shariah-compliant products, aiming to support financial inclusion efforts across its member countries.
The Jeddah-based Islamic Research and Training Institute said it had signed an agreement with local firm Ateon and Belgium-based SettleMint, with the first stage to focus on a technical feasibility study.
The agreement is the latest effort to combine blockchain technology to tap demand from Muslim investors, with firms from Indonesia to Canada having already received Shariah-compliant certification for their products.
Involvement of the IDB, a multilateral development institution, could also encourage other fintech firms to incorporate Islamic finance to tap markets across the Middle East, Asia and Africa.
Islamic finance follows religious principles such as a ban on gambling and outright speculation, but until now the sector has focused on traditional retail banking services.
Blockchain involves a shared electronic ledger that allows all parties to track information through a secure network, removing the need for third-party verification.
The IDB said such features would allow for instantaneous clearing and settlement of transactions and asset exchanges, while helping eliminate counterparty risk.
— REUTERS
IDB to develop Shariah-compliant blockchain
IDB to develop Shariah-compliant blockchain
AC Milan and Atletico Madrid each win to near automatic qualifying spots in Champions League
Alvaraz and Griezmann lead Atletico to 6-0 rout
ROME: AC Milan followed up their win at Real Madrid with a 3-2 victory at last-place Slovan Bratislava in the Champions League on Tuesday.
Christian Pulisic put the seven-time champion ahead midway through the first half by finishing off a counterattack. Then Rafael Leao restored the Rossoneri’s advantage after Tigran Barseghyan had equalized for Bratislava and Tammy Abraham quickly added another.
Nino Marcelli scored with a long-range strike in the 88th for Bratislava, which ended with 10 men.
Milan moved up to 10th place in the new single-league format and within sight of the automatic qualifying spots. Bratislava have lost all five of their matches.
Milan won 3-1 at Madrid in their previous match.
Alvaraz and Griezmann lead Atletico to 6-0 rout
Argentina World Cup winner Julian Alvaraz scored twice, and Atletico Madrid routed Sparta Prague 6-0 to move up to ninth.
Alvaraz scored with a free kick 15 minutes in and Marcos Llorente added a long-range strike before the break. Alvaraz finished off a counterattack early in the second half after being set up by substitute Antoine Griezmann, who then marked his 100th Champions League game by getting on the scoresheet himself.
Angel Correa added a late brace for Atletico.
Atletico beat Paris Saint-Germain in the previous round and extended their winning streak across all competitions to six matches.
Sparta remained in the elimination places with four points.
The top eight finishers in the standings advance directly to the round of 16 in March. Teams ranked ninth to 24th go into a knockout playoffs round in February, while the bottom 12 teams are eliminated.
What We Are Reading Today: A Guide to the Anolis Lizards (Anoles) of Mainland Central and South America
Author: Steven Poe
Anoles are highly visible and aesthetically pleasing lizards that are abundant throughout Central and South America.
The subjects of countless evolutionary and ecological studies that have advanced our understanding of basic principles in biology, these colorful reptiles are notoriously difficult to identify, and species names are often confusing and inconsistent.
“A Guide to the Anolis Lizards (Anoles) of Mainland Central and South America” is the first book to enable the identification of all known species of anole in the region while establishing baseline knowledge for further research.
Erdogan ally wants pro-Kurdish party, jailed militant to talk
- The pro-Kurdish DEM Party, parliament’s third largest, responded by applying for its co-chairs to meet with Ocalan, founder of the outlawed Kurdistan Workers Party (PKK)
ANKARA: A key ally of Turkish President Tayyip Erdogan expanded on his proposal to end 40 years of conflict with Kurdish militants by proposing on Tuesday that parliament’s pro-Kurdish party holds direct talks with the militants’ jailed leader Abdullah Ocalan.
Devlet Bahceli, leader of the Nationalist Movement Party, made the call a month after suggesting that Ocalan announce an end to the insurgency in exchange for the possibility of his release.
The pro-Kurdish DEM Party, parliament’s third largest, responded by applying for its co-chairs to meet with Ocalan, founder of the outlawed Kurdistan Workers Party (PKK).
Erdogan described Bahceli’s initial proposal as a “historic window of opportunity” but has not spoken of any peace process.
Ocalan has been held in a prison on the island of Imrali, south of Istanbul, since his capture 25 years ago.
“We expect face-to-face contact between Imrali and the DEM group to be made without delay, and we resolutely reiterate our call,” Bahceli told his party’s lawmakers in a parliamentary meeting, using the name of the island to refer to Ocalan.
Bahceli regularly condemns pro-Kurdish politicians as tools of the PKK.
DEM’s predecessor party was involved in peace talks between Ankara and Ocalan a decade ago. Gulistan Kilic Kocyigit, DEM’s parliamentary group chairperson, said it applied to the Justice Ministry on Tuesday for its leaders to meet Ocalan.
“We are ready to make every contribution for a democratic solution to the Kurdish issue and the democratization of Turkiye,” she said.
Turkiye and its Western allies call the PKK a terrorist group. More than 40,000 people have been killed in the fighting, which in the past was focused in the mainly Kurdish southeast but is now centered on northern Iraq, where the PKK is based.
Growing regional instability and changing political dynamics are seen as factors behind the bid to end the conflict with the PKK. The chances of success are unclear as Ankara has given no clues on what it may entail.
The only concrete move so far has been Ankara’s permission for Ocalan’s nephew to visit him, the first family visit in 4-1/2 years.
Authorities are continuing to crack down on alleged PKK activities. Early on Tuesday, police detained 231 people of suspected PKK ties, the interior ministry said. DEM Party said those detained included its local officials and activists.
Earlier this month, the government replaced five pro-Kurdish mayors in southeastern cities for similar reasons, in a move that drew criticism from DEM and others.
UN probes sexual exploitation allegations against aid workers in Chad
DAKAR: The UN in Chad has launched an internal investigation, following a report on allegations of sexual exploitation of Sudanese refugees, which included aid workers.
The statement, written days after the story was published, was seen on Tuesday. It said the seriousness of the allegations cited in the AP’s story, warranted immediate and firm measures and that those responsible should be punished.
“Refugees are already vulnerable and traumatized by the events that led them to flee their country and under no circumstances should they be the victims of abuse by those who are supposed to help them,” said Francois Batalingaya, the UN resident and humanitarian coordinator in Chad.
Earlier this month, the accusations were reported by some Sudanese women and girls that men, including those meant to protect them such as humanitarian workers and local security forces, had instead sexually exploited them in Chad’s sites for displaced people. They said the men offered money, easier access to assistance, and jobs. Such sexual exploitation in Chad is a crime.
Hundreds of thousands of people, most of them women, have streamed into Chad to escape Sudan’s civil war, which has killed over 20,000 people.
Sexual exploitation during large humanitarian crises is not uncommon, especially in displacement sites. Aid groups have long struggled to combat the issue, citing a lack of reporting by women, not enough funds to respond and a focus on first providing basic necessities.
Experts say exploitation represents a deep failure by the aid community and that people seeking protection should never have to make choices driven by survival.
The UN said it raised the risk alert level for protection against sexual exploitation of abuse to four, which is very high, especially since Chad was already classified as a country at high risk.
Algeria holds writer Boualem Sansal on national security charges: lawyer
- “Boualem Sansal... was today placed in detention” on the basis of an article of the Algerian penal code, lawyer Francois Zimeray said
- Sansal had been interrogated by “anti-terrorist” prosecutors and said he was being “deprived of his freedom on the grounds of his writing“
PARIS: Algerian authorities have remanded in custody on national security charges prominent French-Algerian novelist Boualem Sansal following his arrest earlier this month that sparked alarm throughout the literary world, his French lawyer said on Tuesday.
“Boualem Sansal... was today placed in detention” on the basis of an article of the Algerian penal code “which punishes all attacks on state security,” lawyer Francois Zimeray said in a statement to AFP.
He added that Sansal had been interrogated by “anti-terrorist” prosecutors and said he was being “deprived of his freedom on the grounds of his writing.”
Sansal, a major figure in francophone modern literature, is known for his strong stances against both authoritarianism and Islamism, as well as being a forthright campaigner on freedom of expression issues.
His detention by Algeria comes against a background of tensions between France and its former colony, which also appear to have spread to the literary world.
The 75-year-old writer, granted French nationality this year, was on November 16 arrested at Algiers airport after returning from France, according to several media reports.
The Gallimard publishing house, which has published his work for a quarter of a century, in a statement expressed “its very deep concern following the arrest of the writer by the Algerian security services,” calling for his “immediate release.”
A relative latecomer to writing, Sansal turned to novels in 1999 and has tackled subjects including the horrific 1990s civil war between authorities and Islamists.
His books are not banned in Algeria but he is a controversial figure, particularly since making a visit to Israel in 2014.
Sansal’s hatred of Islamism has not been confined to Algeria and he has also warned of a creeping Islamization in France, a stance that has made him a favored author of prominent figures on the right and far-right.
In 2015, Sansal won the Grand Prix du Roman of the French Academy, the guardians of the French language, for his book “2084: The End of the World,” a dystopian novel inspired by George Orwell’s “Nineteen-Eighty Four” and set in an Islamist totalitarian world in the aftermath of a nuclear holocaust.
The concerns about his reported arrest come as another prominent French-Algerian writer Kamel Daoud is under attack over his novel “Houris,” which won France’s top literary prize, the Goncourt.
A woman has claimed the book was based on her story of surviving 1990s Islamist massacres and used without her consent.
She alleged on Algerian television that Daoud used the story she confidentially recounted to a therapist — who is now his wife — during treatment. His publisher has denied the claims.
The controversies are taking place in a tense diplomatic context between France and Algeria, after President Emmanuel Macron renewed French support for Moroccan sovereignty over the disputed territory of Western Sahara during a landmark visit to the kingdom last month.
Western Sahara, a former Spanish colony, is de facto controlled for the most part by Morocco.
But it is claimed by the Sahrawi separatists of the Polisario Front, who are demanding a self-determination referendum and are supported by Algiers.
Daoud organized a petition signed by fellow literary luminaries published in the Le Point weekly calling for Sansal’s “immediate” release.
“This tragic news reflects an alarming reality in Algeria, where freedom of expression is nothing more than a memory in the face of repression, imprisonment and the surveillance of the entire society,” said the letter also signed by the likes of British novelist Salman Rushdie and Turkish Nobel winner Orhan Pamuk.
