Germany to get first Islamic bank in October

August 30, 2012

Berlin, August 30: Turkey's Kuveyt Turk investment fund plans to open the first Islamic bank in Germany in October, the Financial Times Deutschland reported.

Kuveyt Turk plans to open its first branch, following the principles of the Islamic sharia law, in Frankfurt-am-Main in cooperation with Ernst & Young auditing company and Norton Rose law firm.

Sharia law prohibits a fixed or floating payment or acceptance of specific interest or fees on loans.

As for mortgages, the Islamic bank purchases houses and then sells it to a client for a higher price.

Other branches of the bank will be opened in German cities with large Muslim communities, particularly in Berlin.

As for other European countries, such banks are already providing their services in Britain, the paper said.

Analysts, however, doubt if such banking services will become popular in Germany where the Muslim community does not exceed five percent or 4.1 million people.

islamic_banking



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News Network
April 14,2020

New Delhi, Apr 14: The World Health Organization on Tuesday lauded "India's tough and timely actions" against the coronavirus spread as Prime Minister Narendra Modi announced the extension of current lockdown till May 3.

"It may be early to talk about results in numbers, but a six-week nationwide lockdown to facilitate effective physical distancing, coupled with the expansion of core public health measures such as detection, isolation and tracing contact of coronavirus positive people, would go a long way in arresting the virus spread," said WHO's South-East Asia Regional Director, Dr Poonam Khetrapal Singh.

"Despite huge and multiple challenges, India has been demonstrating unwavering commitment in its fight against the pandemic," she said.

"In these testing times, the action lies as much with the communities as with the authorities and the health workforce," she added.

"It is indeed time for each and every one to contribute their best and together to beat the virus," Dr Singh said.

Modi on Tuesday said the implementation of the lockdown will be strictly ensured in coming days to ensure that the virus does not spread to new areas

The prime minister said a detailed guideline on the implementation of the new lockdown will be announced on Wednesday.

According the Union Health Ministry figures, a total of 339 people have died of COVIOD-19 till date in the country, while the number of infected cases has soared to 10,363 on Tuesday.

A PTI tally of figures reported by various states as on Monday evening, however, showed at least 346 deaths.

There has been a lag in the Union Health Ministry figures, compared to the number of deaths announced by different states, which officials attribute to procedural delays in assigning the cases to individual states.

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Agencies
February 7,2020

Washington DC, Feb 7: United States on Thursday asked all countries to speak out against mistreatment of Muslims living in China especially in Xinjiang region by Chinese authorities.

Alice G. Wells, Principal Deputy Assistant Secretary for the Bureau of South and Central Asian Affairs, while talking to reporters appreciated the steps taken by Central Asian states to ensure that no ethnic Kazakh, Uighur, Kyrgyz is refouled to China and that the human rights of individuals who reach Central Asia are observed.

"As a matter of principle we urge all countries, not just Central Asian countries, to speak out against human rights abuses that are evident against Muslims in all of China but certainly in Xinjiang. And the countries of Central Asia, several of the countries of Central Asia have deep first-hand knowledge of those abuses given the direct impact it has on their own populations who have loved ones, family members, that are swept up in these detention centers," Wells said.

"We appreciate steps by Central Asian states to ensure that no ethnic Kazakh, Uighur, Kyrgyz is refouled to China, that the human rights of individuals who reach Central Asia are observed. And we also appreciate I think what countries like Kazakhstan can do to promote the free and safe travel of compatriots, ethnic compatriots across the border," she added.

China has been accused of oppressing the Uighurs by sending them to mass detention camps, interfering in their religious activities and sending the community to undergo some form of forceful re-education or indoctrination. However, Pakistan has stayed mum over this issue.

As many as 1 million people, or about 7 per cent of Xinjiang's Muslim population, have been incarcerated in a sprawling network of "political re-education" camps, according to US and UN studies.

In 2018, the New York-based Human Rights Watch released a report accusing Beijing of a "systematic campaign of human rights violations" against Uighur Muslims in Xinjiang.

Beijing says its camps in Xinjiang are "vocational training centres."

Last year, several documents leaked revealed details about Beijing's fears about religious extremism and its wholesale crackdown on Uighurs.

The US had called on the Chinese government to "immediately release all of those who are arbitrarily detained and to end its draconian policies that have terrorised its own citizens in Xinjiang."

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Agencies
June 16,2020

China on Tuesday justified the killing of an army officer and two soldiers of India and accused Indian troops of crossing a disputed border between the two countries.

Foreign ministry spokesman Zhao Lijian said Indian troops crossed the border line twice on Monday, "provoking and attacking Chinese personnel, resulting in a serious physical confrontation between border forces on the two sides".

An Indian Army officer and two soldiers have been killed in a "violent face-off" with Chinese troops along the Line of Actual Control (LAC), disrupting the fragile peace talks.

"During the de-escalation process underway in the Galwan Valley, a violent face-off took place last night with casualties on both sides," the Indian Army said in a statement.
 

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