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
Sudan files AU complaint against Chad over arms: minister
- Chad last month denied accusations that it was “amplifying the war in Sudan” by arming the RSF
PORT SUDAN: Sudan’s army-backed government on Tuesday accused neighboring Chad of supplying arms to rebel militias, likely referring to the paramilitary forces it is battling.
The northeast African country has been engulfed by war since April 2023, when fighting broke out between the regular army, led by de facto ruler Abdel Fattah Al-Burhan, and the paramilitary Rapid Support Forces (RSF) commanded by his former deputy Mohamed Hamdan Dagalo.
Justice minister Muawiya Osman said Burhan’s administration had lodged the complaint against Chad at the African Union.
Speaking to reporters, including AFP, Osman said the government demanded compensation and accused Chad of “supplying arms to rebel militias” and causing “harm to Sudanese citizens.”
“We will present evidence to the relevant authorities,” he added from Port Sudan, where Burhan relocated after fighting spread to the capital, Khartoum.
Chad last month denied accusations that it was “amplifying the war in Sudan” by arming the RSF.
“We do not support any of the factions that are fighting on Sudanese territory — we are in favor of peace,” foreign minister and government spokesman Abderaman Koulamallah said at the time.
The United Nations has been using the Adre border crossing between the two countries to deliver humanitarian aid.
Sudan had initially agreed to keep the crossing open for three months, a period set to expire on November 15. Authorities in Khartoum have yet to decide whether to extend the arrangement.
The Sudanese war has killed tens of thousands of people and displaced more than 11 million, including 3.1 million who are now sheltering beyond the country’s borders.
Supreme Court overturns Islamic schools ban in India’s most populous state
- There are 2.6 million students and about 25,000 Muslim religious schools in Uttar Pradesh
- Article 30 of India’s Constitution guarantees the right of minorities to run educational institutions
NEW DELHI: India’s top court overturned on Tuesday an order that banned Islamic schools in Uttar Pradesh, effectively permitting over two million students in the country’s most populous state to return to their studies in madrasas.
Islam is the second-largest religion in Uttar Pradesh, accounting for some 20 percent of its 230 million population.
In March, Uttar Pradesh’s Allahabad High Court scraped a 2004 law governing madrasas in the state, saying it violated India’s constitutional secularism and ordering that students be moved to conventional schools. The Supreme Court put it on hold in April after receiving petitions challenging the order.
Tuesday’s ruling by the top court will allow about 2.6 million students and 10,000 teachers to return to the 25,000 Muslims religious schools operating in the northern Indian state.
“The Allahabad High Court erred in holding that the madrasa law had to be struck down for violating basic structure, which is the principle of secularism,” Chief Justice D.Y. Chandrachud said in court. “The constitutional validity of a statute cannot be challenged for violation of the basic structure of the Constitution.”
Article 30 of India’s Constitution guarantees the right of minorities to establish and administer educational institutions.
“The Madrasa Act is consistent with the positive obligation of the state to ensure that students studying in recognized madrasas attain a level of competency which will allow them to effectively participate in society and earn a living.”
Madrasas provide a system of education in which students are taught Qur’an, Islamic history and general subjects like math and science.
In states governed by Prime Minister Narendra Modi’s Bharatiya Janata Party, such as Uttar Pradesh and Assam, authorities have been converting hundreds of madrasas into regular schools.
“This is a landmark judgment and puts a brake to all the negative campaigns that has been going on against madrasas across the country,” Wahidullah Khan, secretary-general of the All-India Teachers Association Madaris Arabia, told Arab News.
“For us, it’s a big relief. It provides a new lease of life to thousands of madrasas across the country. The Islamic schools have been taking care of the basic education of millions of Muslims across the country and we were under lots of pressure because of the communal campaign against Muslims and their educational institutions.”
With over 200 million Indians professing Islam, Hindu-majority India has the world’s largest Muslim-minority population.
Indian Muslims have faced increasing discrimination and challenges in the past decade, accompanied by tensions and riots ignited by majoritarian policies of the Hindu right-wing BJP since it rose to power in 2014.
“We were waiting for this kind of verdict. It’s quite welcoming and relieving for the Muslim community,” Iftikhar Ahmed Javed, BJP member and former chairman of the Uttar Pradesh Board of Madrasa Education, told Arab News.
“The judgment brings relief to all,” he said. “There has been a systematic attempt to stigmatize the Islamic schools over the years and branding them as vicious but the ruling of the Supreme Court should now stop this negative campaign.”
Clinique La Prairie CEO talks ‘personalization’ of luxury healthcare ahead of Saudi opening
DUBAI: Switzerland-based luxury healthcare resort Clinique La Prairie is set to open in Saudi Arabia’s Amaala wellness retreat next year, with CEO Simone Gibertoni telling Arab News “personalization is fundamental.”
With just 50 rooms, the healthcare resort will offer guests a holistic approach to health and wellness, combining evidence-based medicine with unique well-being, nutrition and movement plans, according to its website.
“If you want to be really personalized, you need to cater (for) a very small number of clients,” Gibertoni explained, adding: “Another very important point for me is always to underline the fact that our role is not just to give information, but to change people … intervention must be focused and must be very personalized.”
While the Swiss flagship boasts picturesque views and state of the art facilities, he insists: “The view of the lake is not enough, the nice food is not enough … there must be this idea that you feel better, you feel (like) a kind of new person and that’s why people are coming back.”
The Red Sea resort is not the first outside Switzerland; Clinique La Prairie Anji, on a tea plantation 180km west of Shanghai, China, opened its doors in 2024. Meanwhile, Dubai’s One & Only One Za’abeel hotel is home to a Clinique La Prairie Longevity Hub, billed as a day center rather than a resort-style experience.
When it comes to why the brand selected Saudi Arabia for such an investment, Gibertoni pointed to an alignment in healthcare philosophies.
“For such a big investment in Saudi, we are going to have only 50 rooms. In China, it’s another huge investment and we have only 29 rooms. It’s not easy to find the developer which is able to accept our philosophy and this is happening in Saudi Arabia,” he said.
The CEO also referred to long-term clients from the Gulf who have travelled to the European clinic for decades. The lure of a hub a little closer to home could be another reason for the brand’s latest venture.
Located on Saudi Arabia’s north-western coast, the Amaala resort will feature 30 brands, with Clinique La Prairie billed as one of the anchor offerings.
Last week, Gibertoni was in Dubai to announce the Longevity Fund, an endeavor to identify companies that “revolutionize the landscape of aging, health, and wellbeing.”
The fund will focus on driving science-based advancements in longevity under four banners — medical care, nutrition, movement and well-being.
Gibertoni explained: “Whenever there is a company with an innovation which is on the way to be ready for the market, this company always approaches us. So our question was ‘how can we be more impactful and not only introduce this technology to Clinique La Prairie … but can we also help this company to grow?”
Swedish court sentences far-right politician for insulting Muslims
- The Danish-Swedish 42-year-old man, who was not named but has been identified by Swedish media as Rasmus Paludan
- In 2022, Paludan, founder and head of the Danish nationalist anti-immigration party Stram Kurs, made his offensive remarks directed at Muslims, Arabs and Africans during protests
MALMO: A Swedish court sentenced on Tuesday a far-right politician to four months in jail for two counts of “incitement against an ethnic group” after making hateful comments at political rallies two years ago.
The Danish-Swedish 42-year-old man, who was not named but has been identified by Swedish media as Rasmus Paludan, founder and head of the Danish nationalist anti-immigration party Stram Kurs, had been previously convicted and sentenced by a Danish court on a similar charge, the Malmo District Court said.
In 2022, Paludan, founder and head of the Danish nationalist anti-immigration party Stram Kurs, made his offensive remarks directed at Muslims, Arabs and Africans during protests that he led in the southern city of Malmo in 2022, the court said. He also burned a copy of the Qur’an, Islam’s holy book, on at least one occasion. In response, a violent wave of riots swept the country.
Some observers also say Paludan’s actions may have momentarily risked Sweden’s chances of joining NATO after increasing political tensions with Turkiye. Sweden joined the alliance in March this year.
The court in a statement Tuesday said Paludan’s remarks against Muslims “cannot be excused as criticism of Islam or as political campaign work.”
Chief Councilor Nicklas Söderberg, the court’s chairman, said: “It is permitted to publicly make critical statements about, for example, Islam and also Muslims, but the disrespect of a group of people must not clearly cross the line for a factual and valid discussion.”
He added that during the Malmo rallies in April and September 2022 “there was no question of any such discussion,” and that Paludan’s public statements “only amounted to insulting Muslims.”
The court took particular interest in whether the politician knew the protests were filmed and published on Facebook. Paludan had said that he wasn’t aware of it but the district court disagreed and said his “actions at the gatherings would be downright illogical if he didn’t know about the publication on Facebook.”
Paludan, a lawyer by profession, told Swedish media outlets that he wasn’t surprised by the verdict.
“It was expected. We will appeal,” the Swedish newspaper Expressen cited him as saying.
Pakistan, China conclude bilateral air exercise to bolster interoperability
- The exercise simulated various military tactics in near-realistic, multi-domain operations
- Pakistan is separately holding a joint military exercise, Harimau-Markhore II, with Malaysia
ISLAMABAD: Pakistan and China on Tuesday concluded a bilateral air exercise aimed at strengthening interoperability between the two air forces, the Pakistani military said.
The Indus Shield-Chinese exercise, a bilateral module of the Indus Shield 2024 military exercise, concluded at an operational air base of Pakistan Air Force (PAF), according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing.
It witnessed participation from People’s Liberation Army Air Force with its personnel and high-tech equipment comprising Active Electronically Scanned Array (AESA) radar, J-16 and J-10C fighter with Beyond Visual Range (BVR) equipment, HQ-22 surface-to-air defense system, Potent Airborne Electronic Warfare YTG-9 Platform, and the KJ-500 airborne early warning system pitched against the PAF’s J-10C and JF-17 Block-III fighter jets simulating contemporary aerial combat scenarios.
“The successful execution of such a large-scale exercise demonstrates Pakistan Air Force’s joint operational readiness among allied nations while addressing contemporary security challenges,” the ISPR said in a statement.
“Aimed at validating interoperability between China and Pakistan in the face of contemporary air combat challenges and by simulating various military tactics in near-realistic, multi-domain operations training environment, Indus Shield-Chinese has maximized the warfighting potential of both the participating air forces.”
Indus Shield-2024 is the largest multinational regional exercise, with Saudi Arabia, Egypt and Turkiye among 24 countries taking part in it. The exercise aims to foster interoperability and training through state-of-the-art facilities.
Pakistan is separately holding a joint military exercise, Harimau-Markhore II, with Malaysia, Pakistani state media reported on Tuesday. The two-week-long exercise began at the National Counter-Terrorism Center in Pabbi in Pakistan’s northwestern Khyber Pakhtukhwa (KP) province.
“The exercise will strengthen bilateral relations between the Malaysian and Pakistani forces and provide opportunities to benefit from each other’s experiences and expertise in the future,” the Radio Pakistan broadcaster reported.
Pakistan frequently holds exercise drills with regional and international allies to foster interoperability and joint deployment concepts to strengthen regional and global security.
Also, Pakistan Navy Ship (PNS) Zulfiquar visited Port Djibouti during deployment on a regional maritime security patrol, the Directorate General Public Relations (DGPR) of Pakistan Navy said on Tuesday.
The commanding officer of PNS Zulfiquar called on senior military leadership and explored avenues for further collaboration, while the crew had professionally rewarding interactions with Djibouti Navy and Coast Guards during the port call.
“Pakistan and Djibouti enjoy close and cordial relations based on mutual respect and understanding. Both the countries also have numerous common interests in maritime arena,” the DGPR said in a statement. “Upon departure, PNS Zulfiquar conducted Passage Exercise with Djibouti Coast Guards to enhance inter-operability.”