Latest news with #Sharia-compliant
India Today
14 hours ago
- Politics
- India Today
'Talibani era' in Bangladesh? Dress code for women, protest gag order spark row
Restrictions on women's clothing, a hush-hush ordinance introduced in the night that eliminates the right of employees to protest against the government, have become the latest issues to grip the Muhammad Yunus regime in only have the developments invited an avalanche of backlash on social media, some have even compared them to similar diktats issued by the Taliban regime in this week, the Bangladesh Bank caused a storm after it barred women employees from wearing short dresses, clothing with short sleeves and leggings. It asked women to stick to sarees or salwar kameez. The directive by the central bank also suggested that women wear headscarves and hijab and formal sandals or shoes. For men, the order issued by the HR team of the bank explicitly barred jeans and chino to adhere to the directives would attract disciplinary actions, the order said. Moreover, all departments were directed to appoint an officer to monitor compliance with the dress code CODE ORDER SPARKS FURYHowever, the restrictions on the clothing of women sparked fury across the nation, with citizens and journalists taking to social media to accuse the government of "dictatorship".Some even compared the diktat to the orders by the Taliban regime in Afghanistan, which has ordered all women to wear head-to-toe clothing in public."New Talibani era under meticulous dictator," one user Moslem, the president of the Bangladesh Mahila Parishad, told local media that such a directive was unprecedented in Bangladesh. "A certain cultural sphere is being shaped, and this directive reflects that effort," she the social media stir, Bangladesh Bank withdrew the directive on Thursday. "This circular is purely advisory. No obligation has been imposed regarding the wearing of hijab or burqa," spokesperson Arif Hossain Khan told BD OVER WOMEN'S RIGHTS IN BANGLADESHThe development comes at a time when Islamist groups have opposed the government's proposed recommendations for ensuring equal rights, including ones related to property, for month, an Islamist group staged a protest against teachers of a university, labelling them as "anti-hijab". Another Islamic outfit, Jamaat-Char Monai, has given calls to turn Bangladesh into a Sharia-compliant nation like May, thousands of workers of an outfit named Hefazat-e-Islam rallied near Dhaka University carrying banners reading, "Say no to Western laws on our women, rise up Bangladesh".ORDER ON PROTESTS AGAINST GOVERNMENTadvertisementAmid the row, what has further rankled citizens is an ordinance passed on Wednesday night that proposes action against employees protesting against the amended ordinance replaces the controversial term "disobedience" with "misconduct disrupting public duty", according to a report in BD News. A previous version of the legislation had triggered massive protests by government legislation says if any government employee violates or obstructs the implementation of any government order, they could be dismissed from service or demoted to a lower the new law also does not have any provision for appealing against the decision taken against an employee.- EndsTune InMust Watch
Yahoo
a day ago
- Business
- Yahoo
ETF Wave Hasn't Crested Yet, Tidal Co-Founder Says
Tidal Financial Group had quite a different name when it was founded in 2012. Back then, it was called Toroso, which means 'bull' and 'bear' in Spanish. Now, the New York City-based firm has found success as a third-party service provider that helps build and manage exchange traded funds, and its list of clients keeps growing. Co-founder and Chief Investment Officer Michael Venuto sat down with ETF Upside to talk about the company's roots and what excites him about the future of the business. READ ALSO: Gimme an S&P 500 ETF, Hold the Dividends and Why the SEC Delayed In-Kind Redemptions for Crypto ETFs ETF Upside: Tell us a bit about how Tidal got started and the changes it's been through. Michael Venuto: The idea was to sell SMAs of ETFs — that was very popular back then. I raised some money to start the firm, and I thought all these relationships that I've had for all these years are just going to be like, 'Yeah, Mike — great. Let's do this.' And they didn't. They all said, 'Come back when you have X amount of dollars and when you have a three-year track record.' So we pivoted a bit and said, 'We've got all this great research that's helping us build our portfolios. Could that help asset managers sell their products?' And that's the direction the firm went into the next three or four years. That became a business. It kept the lights on, and we went from not paying ourselves to paying ourselves a third of what we made before we started the firm. Direxion's then-Chief Operating Officer Eric Falkeis said, 'What if I came over there and helped you build the trust? And therefore we could help people grow their assets, but have a carry in the business by being a service provider to them.' Very quickly we got some traction. We got SoFi as a client early on. We got this group, RPAR, that has the Risk Parity ETF. We got this Sharia-compliant manager that nobody had ever heard of, but all of a sudden they're launching ETFs and growing like a weed. It was pretty exciting times. Then it just became about execution. That business model, from 2018 to today, has grown from $1 billion to $36 billion. Today we oversee 230 ETFs and have 76 relationships and 130 employees. It's been an overnight success after 13 years. There are now more active ETFs in the US market than passive ones, thanks in part to the many niche and single-stock products out there. What are your thoughts on that trend? It was a foregone conclusion 10 years ago that there were going to be more ETFs than actual stocks. The way things have come out is different. It's pretty frothy right now. We have this metric that we post each week, the open-to-close ratio, and it's close to five right now, meaning for every five ETFs that launch, only one is closing. Industry health is usually around two. But, we've moved upmarket. We're not really dealing with your day-to-day, call it 'ETF entrepreneur' so much anymore. I think they've learned the lesson that it's really hard. The clients that we're dealing with now tend to be people who already have assets and are just looking to move them towards a better structure. How many ETFs do you think the market can handle? You've still got three times the amount of mutual funds that you do with ETFs. A lot of people are using these ETFs as solutions for their existing business. It's not like there's new assets — it's just putting them into a more efficient vehicle. We're seeing a lot of requests for conversions. What would the advent of dual share classes, pending SEC approval, mean for Tidal? I just attended this founder summit, this was like 30 of the founders in the ETF industry. We probably spent an hour and a half on this subject. The conclusion is that it's going to be good for a few people, but the pipes aren't really there to make this easy for everybody to do. I think this is going to be a boon for DFA or anyone who hasn't fully converted things, anybody who's got both a broker-dealer and the captive assets — that's one of the big benefits Vanguard's always had with this. People have been able to easily switch from the mutual fund to the ETF without taking a tax gain. Any mutual fund shop that is going to have a share class in an ETF, they need to either hire a capital markets team that understands how to deal with all these things, or hire Tidal. This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mid East Info
a day ago
- Business
- Mid East Info
Amlak Finance announces early and full settlement of outstanding financing facilities - Middle East Business News and Information
Dubai, United Arab Emirates,July 2025: Amlak Finance PJSC, today announced its early and full settlement with the financiers, a pivotal achievement that underscores its financial discipline and strategic foresight. Since the initial restructuring under the Common Terms Agreement (CTA) in 2014, Amlak has successfully settled AED 10.2 billion with a total of 29 financiers. As of 24 July 2025, Amlak has fully settled its financial obligations, which were contractually scheduled to be settled by October 2026, by paying the balance amount of AED 898 million to the six remaining financiers ahead of schedule, which is a key step towards the formal CTA exit. Over the past few years, the settlement of financial obligations has been one of the most significant challenges. The Board of Directors and leadership team have exerted exceptional efforts in this regard to actively engage with the financiers and settle the obligations. These dedicated efforts have been instrumental in achieving this key milestone. This achievement was further reinforced by a series of strategic steps, including the sale of some land assets, which aligned with the company's long-term vision and facilitated the early settlement with the financiers. Commenting on the early settlement, Arif Albastaki, CEO of Amlak Finance PJSC, said: 'The successful settlement ahead of time, marked by the early fulfilment of our financial obligations, signifies a pivotal moment for Amlak. This achievement not only underscores our commitment to a robust financial framework but also reflects our resolve to deliver on our promises and empowers us to embark on our transformative journey with renewed vigour.' 'We are following a strategic path that not only strengthens our financial position but also allows us to focus on high-growth opportunities. This represents a critical step forward as we transition into a more agile and focused organisation,' added Arif. With a renewed focus on innovation, efficiency, and financial stability Amlak remains committed to driving sustainable growth and creating long-term value for its shareholders and other stakeholders. This milestone marks the beginning of an exciting new era for Amlak. Amlak Finance PJSC: Since its establishment in November 2000 as the region's pioneer financial services provider, Amlak Finance has provided its customers with innovative, Sharia-compliant property financing products and solutions designed to meet the rapidly evolving market demands.
The Hindu
2 days ago
- Politics
- The Hindu
Four held by Gujarat ATS for allegedly promoting AQIS propaganda online
The Anti-Terrorist Squad (ATS) of the Gujarat police on Wednesday (July 23, 2025) said it had arrested four suspects from different parts of the country for allegedly promoting the ideology of Al-Qaeda in the Indian Subcontinent (AQIS), a banned terrorist organisation, through social media platforms. Officials said the suspects were actively inciting youth towards jihad and violent anti-national activities online. According to ATS Deputy Superintendent of Police Harsh Upadhyay, the operation was initiated following intelligence inputs regarding five Instagram accounts allegedly disseminating inflammatory and anti-national content to radicalise youth and encourage terrorist activities and unrest in India. The suspects have been identified as Fardeen Shaikh from Fatehwadi (Ahmedabad), Saifulla Qureshi from Modasa (Gujarat), Mohammad Faik from Chandni Chowk (Delhi), and Zeeshan Ali from Noida (Uttar Pradesh). Acting on the intelligence, the ATS constituted four teams and conducted coordinated operations across Ahmedabad, Modasa, Delhi, and Noida on July 21 and 22. The operations were carried out with coordination central agencies, the Delhi Police Special Cell, and the Uttar Pradesh ATS. The investigation revealed that the group was allegedly propagating AQIS ideology under the banner of 'Ghazwa-e-Hind' and encouraging followers to take up arms. The suspects had reportedly circulated jihadist videos and literature via the social media accounts. During the search operations, the ATS recovered AQIS literature and a sword from the possession of Fardeen Shaikh. Officials said the sword was purportedly intended for use in anti-national jihad. A video recovered from Shaikh's phone allegedly showed him brandishing the weapon. Authorities further stated that mobile content from all four suspects' Instagram accounts contained material promoting jihad, 'Ghazwa-e-Hind', and incitement to violence against Indian democratic institutions. 'The aim of this propaganda was to undermine Indian democracy by urging the establishment of a Sharia-compliant or alternate Islamic governance through armed violence,' officials said. As part of the ongoing investigation, the ATS is auditing 25 sensitive and 62 related Instagram accounts. Cases have been registered against the accused under Sections 13, 18, 38, and 39 of the Unlawful Activities (Prevention) Act, 1967, and relevant provisions of the Bharatiya Nyaya Sanhita.
Sharjah 24
2 days ago
- Business
- Sharjah 24
SIB signs strategic agreement with Alawneh Exchange
The agreement was signed by Mr. Hakam Abu Zarour, COO of Sharjah Islamic Bank, and Mr. Ayman Alawneh, CEO of Alawneh Exchange, in the presence of H.E. Hamad Abdullah Al Matroushi, Acting Head of the UAE Embassy in Jordan; Mr. Saeed Al Ameri, head of investments, treasury and financial institutions at SIB; representatives from the Central Bank of Jordan; senior executives from both parties; and a select group of professionals from the banking and financial sector. Under this agreement, Alawneh Exchange becomes the first Jordanian exchange company to sign a direct agreement with an Islamic bank in the UAE, reinforcing Sharjah Islamic Bank's position as a leading institution in driving financial integration and cross-border cooperation. The partnership positions the Bank as a vital link in strengthening financial and trade connectivity between the GCC and the Levant region. Enhancing Banking Experience and Facilitating Transfers The agreement aims to simplify and optimize capital flow between the two countries—for both individuals and businesses—by providing smoother and more cost-effective transfer channels, and enhancing the banking experience through the opening of an AED account at Sharjah Islamic Bank on behalf of Alawneh Exchange. This account will enable secure and direct settlement of both personal and commercial transfers. Driving Innovation in Digital Financial Services Commenting on the agreement, Hakam Abu Zarour, COO of Sharjah Islamic Bank, stated: "This agreement reflects SIB's firm commitment to expanding its network of regional partnerships. It is a strategic milestone aligned with our vision to facilitate capital flows and provide Sharia-compliant financial services to support the growing commercial and financial activities between the UAE and Jordan." He added, "The partnership also aligns with the Bank's broader strategy to drive innovation in digital financial services and accelerate cross-border transactions by offering more efficient and flexible remittance channels. It also supports our contribution to sustainable development goals and promotes financial inclusion, helping to stimulate economic growth and enhance the regional business environment." For his part, Ayman Alawneh, CEO of Alawneh Exchange, commented: 'We are proud to sign this strategic agreement with Sharjah Islamic Bank, which represents a major step forward in our journey to expand our regional partnerships and enhance remittance services between Jordan and the UAE. This collaboration will allow us to deliver faster, safer, and more efficient solutions to our individual and corporate clients.' He added, 'The agreement builds upon our ongoing efforts to improve remittance systems and leverage the advanced banking infrastructure offered by Sharjah Islamic Bank. We are confident this partnership will support financial inclusion and facilitate capital movement in a way that benefits the national economy and meets the needs of our clients in both countries.'
