Latest news with #Shariah
Qatar Tribune
3 hours ago
- Business
- Qatar Tribune
QIIB gets ‘Leadership Award for Sustainable Islamic Finance' in Qatar by Union of Arab Banks
Tribune News Network Doha QIIB has been awarded the 2025 'Leadership Award for Sustainable Islamic Finance' in Qatar by the Union of Arab Banks, in recognition of the bank's pioneering role and ongoing contributions in this field. QIIB Chief of Corporate Sector Omar Abdulaziz Al Meer received the award on the bank's behalf during the Banks Awards and Commendations of Excellence ceremony, recently organised by the Union of Arab Banks in the Lebanese Capital, Beirut. The event was attended by senior officials and prominent representatives from the Arab and international banking and business sectors. The Union of Arab Banks selected QIIB for the award in recognition of its strong sustainability record and its ongoing commitment to integrating leading environmental, social, and governance (ESG) practices into its banking and investment operations. The bank was also commended for its pioneering initiatives in developing products that are in line with the principles of sustainable Islamic finance. On this occasion, QIIB CEO Dr Abdulbasit Ahmad Al Shaibei said, 'We are proud to receive this prestigious award, which affirms our leadership as an Islamic financial institution committed to the principles of sustainable finance. At QIIB, we follow a strategic approach that balances economic growth, environmental preservation, and social responsibility.' He said, 'We extend our sincere thanks to the Union of Arab Banks for this honor, which acknowledges the Bank's ongoing efforts to support the transition toward sustainability. It also reflects our success in integrating sustainability and ESG principles into our operations and future strategies'. Highlighting the bank's long-term vision, he said, 'We believe that sustainable Islamic finance is one of the most important financing models for the future, as it brings together ethical principles, Shariah guidelines, and the goals of sustainable development. It contributes to building a balanced and stable financial system. In fact, we have made significant progress in strengthening ESG practices across our financing and investment activities, and we are systematically working to develop innovative products and services that meet customer aspirations while supporting the national economy.' Al Shaibei further said, 'The bank's receipt of this award reflects the outcomes of carefully planned strategic initiatives introduced by QIIB in recent years, most notably the issuance of its first sustainable sukuk (Oryx) worth $500 million in January 2024. This marked the first issuance of its kind by a Qatari institution and attracted exceptional interest from more than 120 investors worldwide. The sukuk offering followed the launch of our inaugural Sustainable Finance Framework, which aligns with leading international standards and the principles set by the International Capital Market Association (ICMA)'. He said, 'QIIB signed a memorandum of understanding with the Gulf Organisation for Research and Development (GORD) to advance green finance initiatives and promote sustainable building practices. The bank also introduced its Green Auto Finance product for electric and hybrid vehicles, reinforcing its commitment to sustainability and innovation'. The QIIB CEO said, 'The bank will continue to prioritise sustainability and support various initiatives aimed at advancing Islamic banking.' He emphasised receiving the Leadership Award in Sustainable Islamic Finance places an even greater responsibility on us, one that motivates us to keep innovating and to invest in sustainable projects that deliver real, positive impact on the environment and society. This commitment is fully aligned with Qatar National Vision 2030 and the Third Financial Sector Strategic Plan launched by theQatar Central Bank.
The Independent
9 hours ago
- Business
- The Independent
Fact check: Sharia law administrator job ad was for role with private employer
A widely shared post on social media claimed that 'the UK Government is hiring' while sharing a screenshot of a job advert for a 'Shariah law administrator'. Another post said that 'the role is for the Department of Work and Pensions' alongside a screenshot of the same webpage. Evaluation The advert was not for a Government job. The administrator was being hired using money a mosque said it had raised through donations. The job was advertised on a portal run by the Government, which is open to private employers to post on. The facts The Find a Job service was launched by the Department for Work and Pensions (DWP) in 2018 as a replacement for Universal Jobmatch. It links thousands of employers with potential candidates. Employers who want to post on the site must be verified in order to ensure that the job adverts are genuine. They are also checked to make sure they meet minimum wage, accessibility and Welsh language rules. The Find a Job service is used to advertise both Government jobs and those offered by charity and private sector employers. This was the case with the job advert in the screenshot shared on social media. The – now deleted – role for a 'Shariah law administrator' was advertised by Manchester Community Centre. The job description says the successful candidate will 'provide all admin and secretarial work for Manchester Shariah Council'. Following online discussions about the job advert, the Islamic Centre Manchester released a statement on Facebook through the Didsbury Mosque on July 28. It said: 'This is not a government-funded post; the mosque pays for it out of community donations. The DWP advertises many jobs to help people obtain employment.' The statement added: 'We have withdrawn the job in question and have asked the DWP to remove it from its website. The job advert will be reworded to avoid future misunderstanding.' Data from the Charity Commission suggests that Manchester Community Centre has never received income from Government grants or contracts. The Islamic Centre (Manchester) received Government grants in the year ending September 2021 and September 2022, although nothing in the year ending September 2023 – which is the latest available data. The Manchester Community Centre, the Islamic Centre Manchester and the Didsbury Mosque all use the same address.
Yahoo
10 hours ago
- Business
- Yahoo
Fact check: Sharia law administrator job ad was for role with private employer
A widely shared post on social media claimed that 'the UK Government is hiring' while sharing a screenshot of a job advert for a 'Shariah law administrator'. Another post said that 'the role is for the Department of Work and Pensions' alongside a screenshot of the same webpage. Evaluation The advert was not for a Government job. The administrator was being hired using money a mosque said it had raised through donations. The job was advertised on a portal run by the Government, which is open to private employers to post on. The facts The Find a Job service was launched by the Department for Work and Pensions (DWP) in 2018 as a replacement for Universal Jobmatch. It links thousands of employers with potential candidates. Employers who want to post on the site must be verified in order to ensure that the job adverts are genuine. They are also checked to make sure they meet minimum wage, accessibility and Welsh language rules. The Find a Job service is used to advertise both Government jobs and those offered by charity and private sector employers. This was the case with the job advert in the screenshot shared on social media. The – now deleted – role for a 'Shariah law administrator' was advertised by Manchester Community Centre. The job description says the successful candidate will 'provide all admin and secretarial work for Manchester Shariah Council'. Following online discussions about the job advert, the Islamic Centre Manchester released a statement on Facebook through the Didsbury Mosque on July 28. It said: 'This is not a government-funded post; the mosque pays for it out of community donations. The DWP advertises many jobs to help people obtain employment.' The statement added: 'We have withdrawn the job in question and have asked the DWP to remove it from its website. The job advert will be reworded to avoid future misunderstanding.' Data from the Charity Commission suggests that Manchester Community Centre has never received income from Government grants or contracts. The Islamic Centre (Manchester) received Government grants in the year ending September 2021 and September 2022, although nothing in the year ending September 2023 – which is the latest available data. The Manchester Community Centre, the Islamic Centre Manchester and the Didsbury Mosque all use the same address. Links Post on X (archived) Second post on X (archived) – New 'Find a Job' service to support thousands of jobseekers into work (archived) – How we're helping people to Find a job (archived) Head of Detect and Response – Home Office Cyber Security (archived) Shariah Law Administrator (archived) Didsbury Mosque post on Facebook (archived) Charity Commission – Manchester Community Centre (archived) Charity Commission – The Islamic Centre (Manchester) (archived) Companies House – Manchester Community Centre (archived) Charity Commission – The Islamic Centre (Manchester), contact information (archived) MIC & Didsbury Mosque – Contact us (archived)
Finextra
10 hours ago
- Business
- Finextra
Tabadulat receives in-principle approval from ADGM regulator
Tabadulat Limited (Tabadulat), a UAE-based Shariah-compliant investing platform registered with ADGM, the international financial centre of the UAE Capital Abu Dhabi, has received In-Principle Approval from ADGM's Financial Services Regulatory Authority (FSRA). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The announcement follows the UAE cabinet's approval of its National Strategy for Islamic Finance and Halal Industry on 6 May. Under the plan, the UAE seeks to build a globally competitive national Islamic finance sector, facilitate its activities, and drive leadership in sustainable finance. Tabadulat, which is in the process of obtaining its Financial Services Permission, subject to FSRA's approval, has a committed investment of US$2.3 million. For years, Muslim investors have faced limited options when seeking truly halal investment opportunities in global markets, often relying on separate and expensive screening tools or niche local brokers. Through its advanced halal stock screener, Tabadulat will ensure that every transaction adheres to Islamic finance principles, filling a longstanding gap in halal investing. 'Tabadulat will not just be a trading platform but will be a movement. We will empower Muslim investors to invest globally without compromising their faith. Tabadulat will offer its clients control, transparency, and compliance in one seamless platform,' said Samy Mohamad, Co-founder of Tabadulat. Key features include: Global Market Access: Users will be able to invest in a wide range of international halal stocks across the US, Europe, GCC, Asia, and beyond. Advanced Halal Stock Screener: Every stock and ETF listed will be screened daily for Shariah compliance, allowing Muslim investors to instantly identify halal investments without relying on an external paid service. Ultra-low and Transparent Fees: Low transaction fees (starting at just 0.25%) with no hidden costs and absolutely no Riba, ensuring halal and cost-effective trades for retail investors. Advanced Portfolio Analytics: Cutting-edge tools, including a comprehensive Shariah report, at no additional cost. Built-in Zakat Calculator: Helping investors fulfill their religious obligations easily and accountant-free. With the global Islamic finance market estimated to reach US$7.5 trillion by 2028, Tabadulat's entry will come at a time of rising demand for accessible halal investing solutions. The company will adhere to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards, the global benchmark in Islamic finance, and will be an Islamic financial business. 'Muslim investors may soon be able to trade halal stocks with peace of mind, knowing that every asset they invest in will be to the highest standards of Islamic finance,' says Ali Abdulkadir Ali, Co-founder of Tabadulat.
Arabian Business
12 hours ago
- Business
- Arabian Business
Dubai Islamic Bank executes the first Islamic finance deal with Turkish Airlines
Dubai Islamic Bank (DIB), the world's first Islamic bank and the largest in the UAE, has executed Turkish Airlines' first-ever Islamic aircraft financing transaction. DIB acted as financier for the acquisition and induction of a new Airbus A350-941 into the Turkish Airlines fleet, with the transaction structured through a 12-year Islamic finance lease (Ijarah). Dubai Islamic Bank leads cross-border Shariah aircraft deal The transaction introduces Shariah-compliant structures to Turkish Airlines' funding portfolio, paving the way for Islamic financing to serve as a catalyst for growth within one of the world's most prestigious airline fleets and the national carrier of Turkey. By enabling one of the world's leading airlines to adopt a fully Shariah-compliant financing structure, DIB reaffirmed the strength, credibility, and adaptability of Islamic finance in delivering complex cross-border funding structures. Dr. Adnan Chilwan, Group Chief Executive Officer at DIB, commented: 'At a time when global markets are rethinking the foundations of sustainable finance, this transaction sends a clear signal that Islamic finance is no longer a niche; it is a resilient and globally relevant financial structure for the future. 'For Turkish Airlines to embrace Shariah-compliant financing for the first time and to choose DIB as their Islamic finance provider reflects both the strength of our principles and the confidence they have placed in our capabilities. 'We value this collaboration deeply. It not only supports the airline's strategic growth but also reinforces the strengthening of economic ties between the UAE and Turkey. This relationship continues to thrive on a vision rooted in mutual respect, shared ambition, and enduring cooperation.' Prof. Ahmet Bolat, Turkish Airlines Chairman of the Board and the Executive Committee, added: 'This transaction demonstrates our commitment to financial innovation and strengthening our fleet while also marking a new chapter in our cooperation with leading institutions in the UAE and the broader Gulf region. We are pleased to have completed this landmark financing in collaboration with DIB and look forward to building on this partnership in the future.' The signing ceremony in Istanbul was attended by Dr. Chilwan, Prof. Bolat, and Prof. Murat Şeker, Turkish Airlines' Chief Financial Officer and Member of the Board and Executive Committee. This transaction further strengthens DIB's position as a global leader in cross-border Islamic finance, showcasing the growing demand for Shariah-compliant solutions in capital-intensive sectors. Established in 1975, DIB is the world's first full-service Islamic bank and amongst the largest in the world with assets now exceeding US$95 billion and market capitalisation of more than US$14 billion. Established in 1933, Turkish Airlines is one of the biggest airlines in the world now with a fleet of 490 (passenger and cargo) aircraft flying to 353 worldwide destinations in 131 countries.
