Auckland woman urges New Zealand banks to provide Islam-friendly loans

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Friday 01 May 2015 - 14:11 Makkah mean time-12-7-1436 Auckland, New Zeeland (IINA) – An Auckland woman is lobbying New Zealand banks to consider providing interest-free home loan for Muslim customers including herself, 3news New Zealand reported.   Sara Jowadi wants banks in New Zealand to offer similar products. "I'm not trying to be inconsiderate to New Zealanders, I understand they will have different responses to this issue, but at the end of it I'm trying to provide a solution for myself and people like me." "With rent, you're not guaranteed that you can stay in that place for too long we're sort of trying our best to find an alternative." Under Islam, paying or receiving interest on loans is forbidden therefore loans must involve various ways for borrowers to repay the lender at a premium, while technically not being charged interest. Jowadi had contacted ANZ, BNZ, Westpac and Kiwibank with a proposal, but told Radio NZ none had responded. Westpac and Kiwibank said they did not offer a specific Sharia-friendly product and did not have any plans to do so in the near future. ANZ spokesman Stefan Herrick said demand for Islamic loans were "very low" and the bank did not offer a specific product catering to this community. "However, we're always happy to talk to Muslim customers or otherwise about how we can help meet their needs." New Zealand Bankers Association's boss Kirk Hope said Islamic mortgages were likely to be a niche products, and was not surprised banks had not yet taken an interest. It is noteworthy that countries like Australia, the United Kingdom and the United States are among other countries who already offering Islam-friendly loans. SM/IINA

OIC, African Union sign MoU on cuntering terrorism in Africa

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Friday 01 May 2015 - 13:58 Makkah mean time-12-7-1436 Istanbul, (IINA) - The General Secretariat of the Organization of Islamic Cooperation (OIC) and the Commission of the African Union (AU) have signed a Memorandum of Understanding (MoU) to support and strengthen their partnership on countering terrorism and violent extremism in Africa. The agreement was signed by the OIC Secretary General Iyad Ameen Madani and the AU Commissioner for Peace and Security Ambassador Smail Chergui on April 25 in Istanbul, on the margins of the Summit for Peace held to commemorate the Centenary of the Battle of Gallipoli. It should be recalled that in September 2014, Madani, while addressing the AU Peace and Security Council summit on terrorism in Africa held in Nairobi, Kenya, had announced a special donation of US $ 10 million by Custodian of the Two holy Mosques in support of Africa’s fight against terrorism. The sum, which is to be made available to the AU through the OIC, is aimed at bolstering the overall endeavors of the AU in combating the menace of terrorism and violent extremism in their common space through agreed joint initiatives and activities. SM/IINA

Nazarbayev proposes Masimov for new term as Kazakh PM

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Thursday 30 Apr 2015 - 16:30 Makkah mean time-11-7-1436 Almaty (IINA) – Veteran Kazakh President Nursultan Nazarbayev, who was elected for a new five-year term at the weekend, on Wednesday proposed loyalist Karim Masimov to serve as prime minister again. The presidential press service announced Nazarbayev’s proposal after Karimov’s Cabinet resigned, a formal step paving the way for the formation of a new government. Masimov’s reappointment is now little more than a formality in the lower Mazhilis chamber of Kazakhstan’s parliament, which is dominated by Nazarbayev’s ruling Nur Otan Party. Masimov, a 49-year-old economist who is fluent in several languages including Mandarin, had been Nazarbayev’s chief of staff for two years before he was appointed prime minister in April last year. Nazarbayev, 74, has ruled the Central Asian nation with sweeping powers since 1989, when he became its Communist Party boss. On April 26, he won a new five-year term in a snap election, receiving 97.75 percent of the vote.  The Organization for Cooperation and Security in Europe said there was a lack of credible opposition and voters “were not offered a genuine choice between political alternatives.” HA/IINA