Latest news with #MuhammadTaqiUsmani
Zawya
29-04-2025
- Business
- Zawya
ADIB champions innovation and ethical finance at EFICA awards Ceremony
Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB) in strategic partnership with the London Stock Exchange Group, successfully hosted the EFICA 2025 Awards ceremony, reinforcing its leadership in ethical finance, innovation and real-world social impact. The event brought together industry pioneers, thought leaders and bankers to celebrate forward looking initiatives in Islamic finance. Launched by ADIB in 2013, the Ethical Finance Innovation Challenge Award 'EFICA' Awards were created to celebrate initiatives that drive real-world impact, promote sustainability, and advance ethical banking practices. Over the past decade, EFICA has grown into one of the leading global platforms in the sector, advancing ethical finance innovation, attracting hundreds of submissions from around the world. Commenting on the EFICA Awards, Mohamed Abdelbary, ADIB's Group CEO, said: "As a bank founded on the principles of Sharia and ethical banking, ADIB is proud to champion innovations that create meaningful social and economic impact. Our heartfelt congratulations go to this year's winners, who embody the core values ADIB stands for financial inclusion, sustainability, and positive societal impact. At ADIB, we remain committed to fostering a global financial ecosystem where ethical principles drive real-world change. As EFICA enters its seventh edition, we are proud to see its size, scale, and global influence continue to grow. The exceptional entries we received this year reflect the sector's dedication to harnessing innovation for the benefit of communities worldwide.' This year, EFICA attracted over 150 global submissions. A distinguished advisory board featuring prominent Islamic scholars, financial innovators and banking practitioners, selected outstanding initiatives that reflect ethical aspects, impact on society and innovation. During the ceremony, the Bank honoured excellence in three key categories: • EFICA Main Award: MADCash (Malaysia) was awarded the EFICA 2025 Main Award for its innovative, Shariah-compliant, zero-profit Microfunding platform that empowers women entrepreneurs by providing Shariah Compliant micro finance and financial literacy training, driving financial inclusion and enhancing future bankability across Malaysia, Singapore, and Tajikistan. • Lifetime Achievement Award: Sheikh Mufti Muhammad Taqi Usmani received this prestigious recognition for his lifelong contributions and service to the Islamic finance industry globally. • Islamic Finance Initiative Award: Sukuk Al Waqf, an initiative by the Awqaf and Minors Affairs Authority (Dubai), in partnership with the Mohammed bin Rashid International Centre for Endowment and Endowment Consultation, which is managed by National Bonds, was honoured for advancing Islamic finance through innovative waqf-based investment structures. Other finalists that presented their ideas included Kestrl, a UK-based fintech helping over 1.2 million Muslims worldwide manage and grow their wealth in accordance with Islamic finance principles, and Kifiya Financial Technology, an Ethiopian company focused on developing digital platforms that facilitate secure, affordable, and accessible transactions to bridge the financial inclusion gap in Ethiopia. Through EFICA, ADIB not only celebrates the achievements of changemakers but also reinforces its mission to lead the financial industry toward a future where ethical principles and innovation go hand in hand. For more information about EFICA please visit: About ADIB: ADIB is a leading bank in the UAE with AED 244 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997, and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in five strategic markets: Egypt, where it has 72 branches, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products. For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes Head of Public Affairs Director of Financial Communications
Middle East Eye
10-04-2025
- Politics
- Middle East Eye
Mufti Taqi Usmani and top Pakistani scholars say war on Israel 'obligatory'
Mufti Muhammad Taqi Usmani, one of Pakistan's most prominent Islamic scholars and a former judge of the Federal Shariat Court, has declared military "jihad" against Israel is an obligatory duty for all Muslim governments. Speaking at the National Palestine Conference in Islamabad on Thursday, Usmani said Muslim countries had "failed to provide sufficient support to those fighting to protect" Al-Aqsa Mosque in Jerusalem. "What is the use of the armies of Muslim countries if they do not engage in jihad?" he asked. The conference gathered prominent Islamic scholars from across the country, and its official declaration on Thursday echoed Usmani's remarks - concluding that "jihad" against Israel is obligatory for all Muslim countries. In his speech, Usmani also said that Muslims who intended to go on voluntary pilgrimages, such as Umrah, should spend their money on supporting the Palestinian resistance instead. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters "We have assembled within this very same convention hall one year ago in an act of solidarity for Palestine. Yet, ever since then, we have merely done conferences and not true action." Usmani further referenced Pakistan's first leader, Muhammad Ali Jinnah, saying: "The founder of Pakistan referred to Israel as an illegitimate state, and our stance will not be altered irrespective of how strong Israel may become." Muslim scholars issue 'fatwa' calling for 'jihad' against Israel as strikes pummel Gaza Read More » Pakistan, which was established in 1947 - a year before the founding of Israel - has opposed the creation of the Israeli state and has never recognised its sovereignty. Many scholars at the conference criticised the Pakistani government for not declaring war on Israel. This comes just days after Ali al-Qaradaghi, the secretary general of the International Union Of Muslim Scholars (IUMS), an organisation previously led by Yusuf al-Qaradawi, called on all Muslim countries 'to intervene immediately militarily, economically and politically to stop this genocide and comprehensive destruction, in accordance with their mandate'. His statement, which was also backed by 14 other prominent Muslim scholars, called on all Muslim countries to 'review their peace treaties' with Israel and for Muslims in the United States to pressure President Donald Trump to 'fulfil his election promises to stop the aggression and establish peace'. Opposing the 'fatwa' But Egypt's Grand Mufti Nazir Ayyad this Monday criticised the "fatwa" as "irresponsible". A "fatwa" is a non-binding Islamic legal ruling from a respected religious scholar, usually based on the Quran or the Sunnah - the sayings and practices of the Prophet Muhammad. Ayyad, who is the highest authority for issuing religious opinions in Egypt, rejected the "fatwa" and said that "no individual group or entity has the right to issue fatwas on such delicate and critical matters in violation of Sharia principles and its higher objectives". "Such actions may endanger the security of societies and the stability of Muslim states," he added. Egypt's grand mufti rejects fatwa for jihad against Israel as 'irresponsible' Read More » "Supporting the Palestinian people in their legitimate rights is a religious, humanitarian and moral duty. However, this support must be provided in a way that truly serves the interests of the Palestinian people and not to advance specific agendas or reckless ventures that could lead to further destruction, displacement and disaster for the Palestinians themselves." Ayyad said that the declaration of "jihad" in Islam must be made by a "legitimate authority". "In our current era, this authority is embodied in the recognised state and political leadership, not in statements issued by entities or unions that lack legal authority and do not represent Muslims either religiously or in practice," he said.
