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  • Niqab Ban In France Violates Human Rights Of Muslim Women: UN Human Rights Committee
    The United Nations Human Rights Committee said France’s niqab ban violates the human rights of Muslim women and risks “confining them to their homes.” Women in France can be fined up to 150 euros for wearing the niqab, a full-face...
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  • Rathana At It Again; ACJU Is The Punching Bag For Everyone
    By Mass L. Usuf Mass Usuf Let this column begin with a Disclaimer. It is only an analysis and the writer is not holding a brief to defend or protect the All Ceylon Jamiyathul Ulema (
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  • Democracy Threatened: Impunity, Political Patronage & Rollback Of Devolution
    By S. Ratnajeevan H. Hoole – R. Sasilan: Assistant Commissioner of Elections Today we are opening new living quarters for our Election Commission’s man-in-charge in Batticaloa. I am so glad because R. Sasilan is a man I am proud of. He stands up for what is right without fear or favor. When a minister distributed gifts in elections some years ago, he confiscated a gift pack and filed a complaint with the police. The police, as often happens, disappeared the evidence. Sasilan sent a report to the Commission and that too disappeared....
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  • Coronavirus funerals: Sri Lanka's Muslims decry forced cremation
      Image copyrightEPA Image captionSri Lankan Muslim women wait for a Covid-19 test. Some in the community are fighting cremation rules Sri Lankan authorities are insisting on cremation for coronavirus victims - a practice forbidden by Islam. The nation's minority Muslim community says they are using the pandemic to discriminate, writes BBC Sinhala's Saroj Pathirana. On 4 May, Fathima Rinoza, a 44-year-old mother of three from Sri Lanka's minority Muslim population, was admitted to hospital with a suspected case of Covid-19. Fathima, who lived in the Sri Lankan capital, Colombo, had been suffering from respiratory problems and the authorities feared she had caught the virus. On the day she was admitted to hospital, the family was "set upon" by the authorities, her husband Mohamed Shafeek said. "The police and military along with...
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  • ජිනීවා මානව හිමිකම් කවුන්සිලයේදී රටවල් 5කින් ලංකාවට චෝදනා
    පාස්කු ප්‍රහාර සම්බන්ධයෙන් සැකපිට අත්අඩංගුවට ගෙන සිටින නීතිඥ හිජාස් හිස්බුල්ලා රඳවා තබාගැනීම, විශේෂ බළකායේ සැරයන් සුනිල් රත්නායකට ජනාධිපති සමාව ලබාදීම ඇතුළු කරුණු ගණනාවක් පදනම් කරගනිමින් එක්සත් රාජධානිය ඇතුළු රටවල් 5ක කණ්ඩායමක් එක්සත් ජාතීන්ගේ මානව හිමිකම් කවුන්සිලයේදී ශ්‍රී ලංකාවට චෝදනා එල්ල කර ඇතැයි ජිනීවා තානාපති...
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  • මුස්ලිම් නීතිඥයාට එරෙහිව 'ත්‍රස්ත සාක්කි' ගෙතූ රහස් පොලිසියට විනිසුරු විරෝධය

      පාස්කු බෝම්බ ප්‍රහාරයට සම්බන්ධ යැයි ජනමාධ්‍ය මගින් ප්‍රචාරය කරමින් ත්‍රස්තවාදය වැළැක්වීමේ පනත යටතේ අත්අඩංගුවට ගනු ලැබු මුස්ලිම් ජාතික නීතිඥවරයකුට එරෙහිව ව්‍යාජ සාක්ෂි ගෙතීමට රහස් පොලිසිය විසින් දරණ ලද උත්සාහයක් විනිසුරුවරයකුගේ මැදිහත්වීම නිසා ව්‍යර්ථ වී තිබේ.

    නීතිඥ හිජාස් ඕමර් හිස්බුල්ලාහ් රඳවා...
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  • Gnanasara Thero Once Again Inciting Sinhalese Against Muslims
    Malicious campaign pushing discriminated and frustrated Muslims to wall Few weeks ago Ven Galagoda Atte Gnanasara Thero, known for inciting Sinhalese and unleashing violence against Muslims, said he would dissolve his organisation Bodu Bala Sena as it has achieved its target of setting up a Sinhala Buddhist government without minority support. Latheef Farook Following the election of the present government to power on 15 November 2019, he was rather quiet. Now that the parliamentary election is forthcoming, he has started his campaign once again pitting the Sinhalese against Muslims.There were reports that during the presidential elections in November 2019 Buddhist monks and temples were used to demonize Muslims to win Sinhala votes assuring security. As part of this campaign to win Sinhala votes, he attempted to brand as extremist, several...
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  • Hejaaz: A lawyer for all seasons

    A year has passed since the deadly Easter Sunday attacks in Sri Lanka. Victims, survivors, and the general public still await answers. Amidst these desperate demands for accountability, Hejaaz Hizbullah, a prominent Muslim lawyer, is suddenly – and most unexpectedly – arrested and detained.

    I met Hejaaz during the first-ever debating tournament I participated in. He led the team from S. Thomas’ College, Mount Lavinia, and I represented St. Joseph’s College, Colombo. Our teams made it to the finals that year. I recall Hejaaz as a fierce competitor with the rare gift for conveying an argument with charisma and conviction. He also had a great sense of humour, taking friendly banter in good spirit. The Thomians triumphed that year, and deservedly so.

    What strikes me now is...
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  • Muslim writer in jail for 60 days without "explicit evidence"
    A group of activists in Sri Lanka has called upon the government for the unconditional release of a Muslim writer who has been held in detention for more than
    sixty days without “explicit evidence being produced”.

    In a letter to the Human Rights Commission of Sri Lanka (HRCSL) the Sinhala, Tamil and Muslim activists say that Ramzy Razeek arrested on April 09 for allegedly violating the International Covenant on Civil and Political Rights (ICCPR) and Cyber Crimes Legislation has also been denied medical treatment and legal access in detention.

    “Despite orders from the Magistrate to allow him access to medicine, reliable sources state that his health condition is deteriorating due to lack of access to specific medicines of which he is in dire need. A lawyer attempting to visit Razeek this week, was also denied...
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  • அடையாள அணிவகுப்புக்கு முன் ஹிஜாஸின் அடையாளத்தைக் காட்ட சிஐடியினர் முயற்சித்தார்கள்
    இரு சிறுவர்களிடமிருந்தும் வாக்குமூலம் பெறுவதற்கு முன்னர் சிஐடியினர் தனது அறையில் வைத்து ஹிஜாஸ் ஹிஸ்புல்லாஹ்வின் புகைப்படத்தை அவர்களுக்குக் காண்பிப்பதற்கு முயற்சித்தார்கள் என கோட்டை நீதவான் ரங்க திசாநாயக்க தெரிவித்துள்ளார்.

    புத்தளம் மத்ரஸாவொன்றின் மாணவர்களுக்கு தீவிரவாதத்தைப் போதித்தார் என சிஐடியினர்...
    Read More...
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HNB partners Adl Capital for Islamic banking solutions

Islamic Finance

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Hatton National Bank PLC became the newest entrant to the growing domestic market of Islamic banking with the launch early last week of the bank’s dedicated and branded Islamic Banking Unit – HNB – Al Najah. The unit will operate under the overall ambit of HNB and will offer a broad spectrum of Shariah compliant products and services to its entire clientele.

The setting up of HNB – Al Najah was facilitated within a short time span under the expert guidance and supervision of SEC registered  Investment Manager, Adl Capital Limited – a market intermediary which in addition to its fund management role  specialises in structuring turnkey Islamic financing solutions to the local industry.

These include establishing fully fledged Islamic banking units and product structuring for licensed banks/registered finance companies/leasing companies. Adl Capital’s corporate advisory functions also includes structuring Shariah compliant products for the capital and equity markets and offers specialised staff training and Shariah based financial advisory services to private businesses.

Commenting on the launch, Managing Director of Adl Capital Ishrat Rauff said: “We view the launch of HNB – Al Najah as an important milestone in our country’s 15 year history of Islamic banking and finance. HNB has been in the forefront of product innovation and has been a robust player in the Banking industry for many years. We are delighted to partner HNB in this endeavour. HNB’s entry into the domain of Islamic banking offers much promise to customers on the retail and corporate front. With the guidance and support from a team of respected and knowledgeable Shariah scholars, we have every reason to believe that HNB’s foray into Islamic Banking will prove beneficial and rewarding to all stakeholders and society at large.”

In addition to current accounts, HNB – Al Najah will offer depositors a choice of profit sharing saving and investment options courtesy of saving Mudaraba accounts and term Mudaraba accounts of varying tenures, both of which would reward depositors with a Shariah-compliant return on their investment.

For business and personal customers seeking financing, the bank would offer a range of trade related services, leasing for vehicles/equipment and machinery, home financing, working capital requirements and personal financing.

Adl Capital Associate Director and Head of Business Development Azad Zaheed who was also present on the occasion opined that the entry of HNB – Al Najah was a timely initiative that is expected to give a fresh impetus to the domestic Islamic banking sector.

He also noted that it was an honour for Adl Capital to partner HNB on this historic occasion and emphasised that Adl Capital would continue to play a pivotal role in advancing the cause of Islamic banking and finance in Sri Lanka.

Operations of the Islamic Banking Unit (IBU) will be in accordance with the CBSL guidelines and shall also be in conformity with the injunctions of Shariah. This will ensure that the fund management operations and earnings of the IBU will be segregated and distinct from the conventional banking activity.

The bank has already appointed a Shariah advisory panel of experts comprising of knowledgeable and experienced Shariah scholars who would advise and supervise the Shariah related aspects of the IBU business.

Courtesy: ft.lk

 

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