British MPs may have to comply with Sharia law

January 30, 2016

London, Jan 30: British lawmakers may have to comply with the Sharia law including an alcohol ban when they move out of the Westminster Palace which is set to undergo much- needed repairs as the new complex they will shift into is governed by the Islamic law.parliamen

A UK parliamentary committee searching for a new temporary home for the House of Commons away from the Palace of Westminster has identified Richmond House, home to the UK's Department of Health, as a favoured option.

But the building in the Whitehall political hub of London was transferred to finance an Islamic bond scheme of "Sukuk" two years ago, and a condition of its lease is that it cannot be used for purposes not sanctioned by Sharia law.

An official told The Times newspaper that under terms of the deal agreed with the UK Treasury, the sale of alcohol is among activities explicitly forbidden.

"It is true. If MPs want to use Richmond House they'd better give up any hopes it will include a bar," he said.

MPs and peers were told this week that they are likely to have to move out of the Palace of Westminster entirely for at least six years to allow for a four-billion pounds overhaul of the crumbling neo-Gothic pile.

According to the newspaper, parliamentarians will have to leave behind at least 10 licensed bars and restaurants, each well-stocked with competitively priced drinks.

The Richmond House complex, just north of the existing parliamentary estate, has been narrowed down as a favoured options as it can easily be taken within a security cordon and could comfortably accommodate a temporary debating chamber.

In July 2014, UK Chancellor George Osborne had announced that the Treasury was launching the first Islamic bond in a western financial centre.

The 200 million pounds bonds, known as Sukuk, would help make Britain "the western hub of Islamic finance" and the "undisputed centre of the global financial system", he said.

The offer was more than 10 times oversubscribed as central banks and sovereign wealth funds in Gulf states snapped up bonds that pay just over two per cent annually for five years.

Devout Muslims cannot buy traditional government bonds because they pay interest.
Sukuk, an Islamic alternative, permit guaranteed returns if they are linked to rental payments.

In the Treasury version, three government buildings — including Richmond House — are being used to finance the products. To ensure that the Sukuk were fully compliant with Sharia, the Treasury agreed to conditions on the properties' use including a ban on the sale of alcohol.

"The committee is looking at a range of options and no final decision has been taken. It is aware that Richmond House is under a bond," a spokesperson for the joint committee on the Palace of Westminster said.

The 182-year-old Palace of Westminster currently has eight bars in its premises.

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News Network
May 12,2020

Bengaluru, May 12: Nurses are the frontline warriors in the fight against COVID-19 and their commitment towards duty is commendable, said Karnataka Chief Minister BS Yediyurappa on World Nurses Day on Tuesday.

The Chief Minister was speaking at the inauguration of Miss Florence Nightingale's bicentennial anniversary organized by Rajiv Gandhi University of Health Sciences at his home office 'Krishna'.

The Chief Minister said that the care and service provided by the nurses enhance the chances of recovery for any patient.

"In spite of the stress and pressure they go through everyday, nurses render quality service in the providing healthcare. There is an enormous demand for nurses around the world. I appeal to nurses to continue to render their quality service in this fight against COVID," he said.

Speaking at the event, Medical Education Minister Dr K Sudhakar said that the nurses are the backbone of the healthcare services and their role in the fight against corona is so large that the whole system would have gone for a toss without their services.

The Minister said that the Nurses have been renamed as Nursing Officers in recognition of their service.

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Agencies
February 8,2020

Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.

“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.

“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”

The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.

The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”

The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.

The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.

Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.

Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.

“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.

Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”

Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.

Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.

“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”

Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.

There is a “very substantial risk they will never get it back,” Howe said.

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coastaldigest.com news network
June 17,2020

Bengaluru, Jun 17: The Congress on Wednesday decided to field senior party leader B K Hariprasad and incumbent Naseer Ahmed as candidates for the coming legislative council polls in Karnataka.

"The Congress President Sonia Gandhi has approved the proposal for the candidature of B K Hariprasad and Naseer Ahmed as Congress candidates to contest the biennial elections to the Legislative Council of Karnataka to be elected by the MLAs," the AICC said in a release.

The election is necessitated as the term of seven MLCs- Naseer Ahmed, Jayamma, M C Venugopal, N S Bose Raju, H M Revanna (all Congress), T A Sharavana (JDS) and independent D U Mallikarjuna- will end June 30.

Polling will be held on June 29 to fill seven MLC berths, and June 18 is the last date for filing of nominations.

While the BJP is in a position to win four out of seven seats, the Congress can win two and the JD(S) one.

Twenty-eight valid votes of MLAs are required for each candidate to win.

Hariprasad’s candidature has been announced as his tenure in the Rajya Sabha is coming to end on June 25.

He has also served as general secretary of the party.

Naseer Ahmed, who is retiring as MLC on June 30, will be seeking another term.

According to state Congress president D K Shivakumar, more than 200 aspirants have sought tickets for the two seats that the party can win in the legislative council polls.

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