Latest news with #Shariah-aligned
The Star
12-08-2025
- Business
- The Star
Zetrix AI targets newly launched NurAI chatbot to fintechs, government bodies
PETALING JAYA: Zetrix AI Bhd (formerly My E.G. Services Bhd ) aims to offer its newly launched NurAI chatbot to financial institutions, fintechs, legal authorities and government bodies. In a statement, Zetrix AI director Datuk Mohd Jimmy Wong Abdullah said the rollout of NurAI is designed to be phased and progressive. 'It will begin with a freemium B2C (business-to-consumer) app in Malaysia and Indonesia, offering general Shariah guidance alongside premium features such as inheritance calculators and medical bioethics advice. 'The second phase will focus on institutional integration via B2B (business-to-business) and B2G (business-to-government) models, enabling implementation of NurAI into the daily operations of Islamic financial institutions, fintechs, halal certification bodies and Shariah legal authorities.' NurAI is the world's first Shariah-aligned, Islamic values-based large language model. Based on Islamic principles and reflective of the Global South worldview, Zetrix AI said NurAI offers guidance consistent with Shariah rulings on a comprehensive spectrum of subject matters ranging from contemporary topics, such as law, healthcare and finance, to classical Islamic themes that include history, Islamic philosophy and Quranic studies. 'With the launch of NurAI, Malaysia not only cements its leadership in halal certification, Islamic finance, and Shariah scholarship, but also in ethical AI innovation. 'Zetrix AI's continued investment in Shariah-aligned technologies signals a long-term commitment to developing responsible, values-based digital infrastructure for Muslim communities worldwide,' said the company. Moreover, Zetrix AI noted that current AI systems, developed primarily in Western and Chinese contexts, may not fully reflect Islamic perspectives. 'This leaves a clear gap for the two billion Muslims, the US$3 trillion Islamic economy and the wider Global South, where users seek artificial intelligence (AI) tools that align with their cultural values, religious principles, and development priorities. 'NurAI meets this need by offering a Shariah-aligned alternative for markets underserved by existing platforms.' The company added that it also supports the growing demand for AI sovereignty and Shariah-aligned technology from governments and institutions across Malaysia, Indonesia and the Gulf Cooperation Council.
Business Recorder
31-07-2025
- Business
- Business Recorder
Digital economy & virtual assets: Pakistan takes a giant leap
KARACHI: Pakistan took a significant step forward in its digital transformation journey, as leaders from government, finance, and technology came together at the National Incubation Center (NIC) Karachi for a high-profile event focused on the future of digital economy and virtual assets. The event, jointly organized by REIT Academy Pakistan, IRADAM, and Blockanica Technologies, featured keynote addresses, panel discussions, and stakeholder engagement on blockchain innovation, asset tokenization, and the regulatory roadmap for digital finance in Pakistan. Delivering the headline address, Khurram Schehzad, Advisor to the Minister for Finance & Revenue, outlined the government's vision and decisive steps toward a regulated, innovation-ready digital finance framework. He credited Finance Minister Senator Muhammad Aurangzeb for spearheading reform by establishing the Pakistan Crypto Council (PCC) and championing the recently enacted PVARA Ordinance 2025, which formalizes the virtual assets regime in Pakistan. 'We're not just experimenting with crypto-we are building the foundations of a secure, Shariah-aligned, and forward-looking digital economy and virtual assets ecosystem,' Schehzad said. 'This includes clear regulations, robust compliance, and greater financial inclusion.' He emphasized coordination across key regulators including the Ministry of Finance, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Ministry of IT, and Ministry of Law, noting that Pakistan is aligning its policies with AML/FATF guidelines while building trust through institutions like SBP and SECP. He also highlighted the government's broader economic strategy, which includes privatization of major SOEs including PIA, ZTBL, and DISCOs during FY26, pensions and rightsizing of Federal Government, energy and tax reforms with digitization and public finance optimization and climate adoptions. In the meanwhile, Pakistan's pioneering Real Estate Tokenization (RET) Management and Issuer Company has announced successfully completion of its blockchain-based Distributed Ledger Technology (DLT) testing under the SECP Regulatory Sandbox. Reinforcing Pakistan's commitment to innovation and education in this domain, Khurram Schehzad also formally inaugurated the Real-World Asset (RWA) Tokenization Academy, launched in partnership with NIC Karachi, IBA CEIF, Barsols Legal Chamber, and Blockanica Technologies. The Academy aims to build local expertise and foster innovation in this emerging field. The event featured thought leaders including Nasim Beg (Arif Habib Consultancy), Ali Farid Khawaja (CeDAR), Humza Khan (Binance), Ayaz Uqaili (Sindh IT), and Azfar Hussain (Director, NIC Karachi), who hosted the event and underscored NIC's role in enabling frontier technologies and digital entrepreneurship. These leaders emphasized Pakistan's large crypto-ready user base, job creation potential, and the urgency of investor protections. Panelists discussed the evolving legal framework under PVARA, the launch of the Digital Nation Act, and the mechanics of blockchain-based real estate tokenization, led by representatives from DigiEstate and NextchainX. The event concluded with optimism as Khurram Schehzad reiterated Pakistan's commitment to a globally competitive, locally relevant digital finance system: 'Pakistan has the adaptability, the user base, and the investor interest. What we're building now is the governance, trust, and infrastructure to match it.' Copyright Business Recorder, 2025
Zawya
09-04-2025
- Business
- Zawya
Saudi: Scientific & Medical Equipment obtains $70.5mln loan from Alinma Bank
Scientific & Medical Equipment House Company secured a Shariah-aligned credit facility agreement valued at SAR 265 million with Alinma Bank on 8 April 2025. The company will use the loan to finance current and future projects, in addition to issuing bank guarantees and letters of credits, according to a bourse disclosure. The financing deal, which is valid until 30 November 2027, is secured by contract proceeds and promissory notes. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
07-04-2025
- Business
- Zawya
Elm secures $506mln loan from SNB
Riyadh: Elm Company penned a Shariah-aligned facility agreement valued at SAR 1.90 billion with The Saudi National Bank (SNB) on 27 March 2025. The Saudi company aims to finance corporate expansion and acquisitions, according to a bourse disclosure. Meanwhile, the five-year financing deal is secured by a promissory note. In the 12-month period that ended on 31 December 2024, Elm posted 34.66% higher consolidated net profits after tax at SAR 1.82 billion, compared to SAR 1.35 billion in 2023. The bank's net profits jumped by 5.91% to SAR 21.19 billion last year from SAR 20.01 billion in 2023.
