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EDITORIAL

The Assassination of Ismail Haniyeh: A Turning Point in Middle Eastern Politics

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In the early hours of July 31, 2024, the political landscape of the Middle East was jolted by the sudden and violent death of Ismail Haniyeh, the political leader of Hamas. Killed in a precision strike in Tehran, Haniyeh’s assassination marks a significant escalation in the long-standing conflict between Israel and its adversaries. This event occurred mere hours after Israel announced the killing of a top Hezbollah commander in Beirut, signaling a coordinated effort to target key figures within organizations it deems terrorist threats.

The Life of Ismail Haniyeh

Ismail Abdel Salam Ahmed Haniyeh was born on January 29, 1963, in the Al-Shati refugee camp in Gaza. His early life was marked by the hardships of refugee status and the volatile political environment of the Gaza Strip. Haniyeh’s rise to prominence began during his university years at the Islamic University of Gaza, where he became deeply involved in student activism and the nascent Islamic resistance movement.

Haniyeh joined Hamas shortly after its founding in 1987, during the First Intifada, a period of intense Palestinian uprising against Israeli occupation. His organizational skills and dedication quickly propelled him through the ranks. By the 1990s, Haniyeh was a trusted aide to Hamas founder Sheikh Ahmed Yassin, and his influence continued to grow after Yassin’s assassination in 2004.

Political Ascendancy

Haniyeh’s political acumen became most evident after the 2006 Palestinian legislative elections, in which Hamas won a decisive victory. He was appointed Prime Minister of the Palestinian Authority, but the unity government with Fatah soon disintegrated, leading to violent clashes and the eventual split between the Gaza Strip, controlled by Hamas, and the West Bank, governed by the Palestinian Authority.

Despite internal and external challenges, Haniyeh remained a central figure within Hamas. Known for his pragmatic approach, he was often seen as a moderate voice within the organization, advocating for negotiations and ceasefires when beneficial. However, he never wavered in his support for armed resistance against Israeli occupation, a stance that made him both a revered leader among his followers and a target for Israel.

A Complex Legacy

Ismail Haniyeh’s legacy is multifaceted. To his supporters, he was a symbol of resistance and a champion of Palestinian rights. His leadership was marked by efforts to improve living conditions in Gaza, despite the crippling Israeli blockade and recurring military offensives. Haniyeh’s ability to navigate the complex and often brutal realities of Palestinian politics while maintaining a semblance of governance in Gaza was no small feat.

To his detractors, however, Haniyeh was a terrorist leader responsible for countless acts of violence against Israeli civilians. His involvement in orchestrating attacks and his unwavering stance against Israel’s right to exist made him a figure of hate and fear in Israel and beyond. The international community remains divided on Hamas, with some viewing it as a legitimate resistance movement and others labeling it a terrorist organization.

The Assassination and Its Implications

The assassination of Ismail Haniyeh in Tehran, a city symbolizing the close ties between Hamas and Iran, raises significant questions about the future of the Palestinian resistance and the broader regional dynamics. This act of targeted killing underscores Israel’s determination to eliminate what it considers existential threats, regardless of international borders.

Haniyeh’s death is likely to provoke a strong response from Hamas and its allies, potentially leading to an escalation in violence. It also complicates the already fraught relations between Israel and Iran, with Tehran likely to view this strike as a direct affront.

Conclusion

Ismail Haniyeh’s life and death encapsulate the intractable nature of the Israeli-Palestinian conflict. His assassination represents not just the loss of a significant political leader but also a pivotal moment that could reshape the contours of Middle Eastern politics. As the region braces for the fallout, the legacy of Ismail Haniyeh—both as a symbol of Palestinian resistance and a controversial figure in a deeply divided world—will continue to reverberate.


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EDITORIAL

The Escalation of Conflict in the Middle East

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The recent flare-up of violence between Israel, Gaza, and Lebanon marks another dark chapter in the long-standing conflict that has gripped the Middle East. The latest round of hostilities, characterized by Israel’s military operations and Iran’s aggressive missile response, underscores a tragic cycle of violence driven by deep-seated geopolitical tensions, territorial disputes, and the plight of civilian populations caught in the crossfire.

Context of the Iranian Attack on Israel

The ballistic missile assault by Iran on October 2nd represents a significant escalation in hostilities. This action was a direct retaliation for Israel’s targeted strikes against key leaders of Hezbollah and Hamas, including the controversial killing of Hezbollah chief Hassan Nasrallah. Iranian officials have characterized this attack not only as a defensive measure but also as a necessary response to what they perceive as escalating Israeli aggression across the region. Supreme Leader Ayatollah Ali Khamenei’s authorization of the strike illustrates Iran’s frustration and determination to project military strength amid perceived threats.

Previously, Iranian responses to Israeli provocations had been measured, often aiming to avoid further escalation. However, the accumulation of Israeli attacks and the rhetoric from Prime Minister Benjamin Netanyahu suggesting a desire to shift the regional balance of power has pushed Iran’s leadership towards a more aggressive posture. The shift from symbolic to tangible military retaliation indicates a critical turning point, marking Iran’s readiness to engage in military conflict if deemed necessary.

Motivations Behind Iran’s Retaliation

Iran’s decision to retaliate stems from several intertwined factors. The assassinations of prominent Hamas and Hezbollah leaders have stirred sentiments of urgency and frustration within Iran. The Iranian leadership, particularly hardliners, viewed previous restraint as a miscalculation that only emboldened Israeli actions. The latest military strike signals not only a reaction to immediate threats but also an assertion of Iran’s role as a leader within the so-called “axis of resistance” against perceived Western and Israeli hegemony.

This changing dynamic indicates a broader willingness within Tehran to adopt more confrontational tactics, demonstrating that the previous deterrent effect of potential broader conflict no longer holds the same sway. As Iran solidifies its position in the region, it risks further alienating itself from diplomatic avenues and exacerbating the already tense atmosphere.

The Role of the United States and Geopolitical Dynamics

Amid these developments, the unwavering support of the United States for Israel plays a critical role. The US response to Iran’s missile strikes, characterized by missile interceptions and dismissive rhetoric from President Joe Biden, further illustrates the complexities of US-Israel relations. This alliance, often viewed through the lens of Western double standards, feeds into the narrative of oppression felt by many in the Muslim world, where US actions are seen as part of a broader pattern of destabilization.

Moreover, the historical context of NATO’s military interventions in Muslim-majority countries adds another layer of animosity toward Western powers. Iran’s increasing hostility is partly fueled by perceptions of bias and injustice perpetuated by the West, particularly in its support of Israeli military operations.

The Challenge of Unity in the Muslim World

In the face of escalating violence, the question arises: why has the Muslim world not formed a unified military response to counter Israeli actions? The Organization of Islamic Cooperation (OIC), a body with the potential to marshal considerable resources and manpower, has historically been unable to overcome internal divisions and differing national interests to create an effective military coalition.

Fragmentation, ideological differences, and varying degrees of alignment with Western powers have hindered the formation of a cohesive response to Israeli aggression. The absence of a robust defense mechanism leaves Muslim populations vulnerable to external threats while Israel continues to benefit from military superiority and diplomatic backing from Western nations.

Toward a Path of Peace

For any hope of achieving lasting peace in the region, a re-evaluation of global power dynamics is crucial, especially regarding the US’s role and its steadfast support for Israel. Additionally, Muslim countries must confront their internal divisions and prioritize collective action over individual national interests to effectively safeguard their rights and address external aggressions.

As the cycle of violence continues to unfold, the humanitarian impact on civilians in Gaza, Lebanon, and Israel grows increasingly dire. A commitment to dialogue, diplomacy, and a genuine reassessment of strategies is essential if the region is to break free from the tragic cycle of conflict and move toward a more stable and just future for all its inhabitants.


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EDITORIAL

Fuel Subsidy Removal in Nigeria – A Misguided Approach?

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The recent removal of fuel subsidies in Nigeria and the accompanying surge in fuel prices has become a subject of intense debate. The policy, prescribed by the World Bank and the International Monetary Fund (IMF), was introduced as a means of curbing government spending and stimulating economic reform. However, the consequences have been severe, leading to an immediate increase in inflation, a rise in the cost of living, and a deepening of the poverty crisis. Nigeria, already grappling with significant economic challenges, now finds itself on a path that many other nations have treaded, often to disastrous outcomes.

The Double Standard of Bretton Woods Institutions

What strikes many as glaring hypocrisy is the fact that while Nigeria, and much of the developing world, is pressured by Western institutions to remove subsidies, those same Western economies continue to subsidize their industries in one form or another. Take the U.S., for example: both Republican and Democratic administrations have historically ramped up spending and subsidies, especially during times of crisis. According to the Committee for a Responsible Federal Budget, President Trump approved $8.4 trillion of new ten-year borrowing during his term, with significant portions directed toward COVID relief, and President Biden has so far approved $4.3 trillion in new borrowing. The lesson here is simple: even the wealthiest nations find ways to subsidize their economies to ensure growth and stability, recognizing that austerity measures are often counterproductive.

In China and Russia—two countries that have experienced tremendous growth—state subsidies have played a key role in economic expansion. Infrastructure, education, healthcare, and energy are all areas that have seen significant state investment, leading to improvements in productivity and economic growth. These subsidies are not mere giveaways but strategic investments that propel national development and enhance global competitiveness. So why, then, are developing countries like Nigeria told that subsidy removal is the only path forward?

Nigeria’s Path to Growth: Subsidies and Economic Expansion

Rather than relying on austerity and subsidy removal to balance the budget, Nigeria must pursue an alternative strategy focused on economic growth and boosting productivity. Removing subsidies, especially in a country where the majority of people live below the poverty line, is akin to pulling the rug out from under the feet of the most vulnerable.

The key to a prosperous Nigerian economy lies in stimulating growth, not in imposing cuts. The IMF and World Bank often fail to recognize that austerity measures shrink economies, reduce demand, and cripple productivity. When fuel prices are artificially inflated, the cost of transportation, goods, and services also rises. This creates a vicious cycle where businesses struggle to operate, unemployment increases, and poverty deepens.

Instead of shrinking the economy through austerity, Nigeria should focus on boosting its productive sectors. This can be achieved through a robust infrastructure investment plan, aimed at improving the agricultural, manufacturing, and technology sectors. Nigeria boasts vast arable land, abundant natural resources, and a youthful population with untapped potential. Investing in these areas can generate jobs, spur innovation, and stimulate sustainable economic growth.

In this regard, Nigeria can learn from the United States, particularly from the policies enacted in Democratic-controlled cities. Most of the top-ranked universities and largest cities in the U.S. are run by Democrats, whose policies focus on building public infrastructure, expanding opportunities, and creating value through strategic government spending. High taxes are imposed, but the returns in public services and infrastructure improvements help drive economic growth. The same principles can apply in Nigeria: public investments in infrastructure and human capital development can yield long-term dividends that far outweigh the short-term savings from subsidy removal.

A Case Study: Argentina’s Failed Austerity Experiment

Argentina offers a cautionary tale. The recent removal of critical subsidies in Argentina has plunged more than half of the country’s 46 million people into poverty. The new right-wing government’s austerity measures, aimed at reining in deficits, have worsened living conditions for the poor and undermined social stability. The parallels to Nigeria’s current situation are clear: removing subsidies without addressing underlying economic issues such as corruption and inefficiency leads to a greater divide between the rich and the poor, and the destruction of what little social safety nets remain.

The Islamic economist, in reviewing such a scenario, asks a fundamental question: How can we promote equity and justice in the economy if the most vulnerable bear the brunt of economic restructuring? In Islamic economic philosophy, justice (‘adl) is paramount, and policies that exacerbate poverty and inequality are inherently flawed.

The Flawed Premise of Austerity in Africa

Nigeria’s removal of fuel subsidies is a textbook example of Western-style austerity being applied in an African context, with little regard for the socioeconomic realities on the ground. The argument that subsidy removal will free up funds for infrastructure and other public goods is misleading, given the deeply entrenched corruption in the system. The real issue is not subsidies themselves but the corruption and inefficiency that distort their implementation.

For decades, fuel subsidies in Nigeria have served as a lifeline for the majority of the population. While critics argue that these subsidies have fostered corruption and inefficiency, their removal without adequate reforms to address systemic issues has led to more harm than good. Prices for essential goods and services have skyrocketed, placing an unbearable burden on ordinary Nigerians.

It is important to note that subsidy removal has not worked as a standalone policy in any country. Argentina’s economic collapse, as highlighted earlier, is a clear example. There is no historical record of any country that successfully eradicated poverty and stimulated sustainable economic growth by simply removing critical subsidies. What is needed instead is a balanced approach that focuses on tackling the underlying corruption and inefficiencies in subsidy administration while maintaining a safety net for the most vulnerable segments of society.

Islamic economics promotes the idea of a welfare state—one in which the government plays an active role in ensuring that the basic needs of all citizens are met. This includes providing subsidies for essential goods and services like fuel, healthcare, and education. The role of the state in this model is to facilitate equitable distribution of resources, ensuring that the poor and vulnerable are not left behind in the pursuit of economic growth.

Indeed, subsidies are not inherently bad. In fact, they can be powerful tools for poverty alleviation, economic stability, and growth if managed transparently. What is bad is the corruption that skews the benefits of these subsidies toward the elite, leaving the masses with little to no relief. This is where the Islamic perspective emphasizes accountability (muhasabah) and good governance (al-hukm al-salih).

A Path Forward for Nigeria:

  1. Reforming Subsidy Management, Not Abolishing It: Nigeria must focus on fixing the corrupt mechanisms that allow subsidies to benefit a few at the expense of the many. A transparent and accountable subsidy system that targets the most vulnerable can serve as a buffer against the rising cost of living and stimulate economic growth. Islamic principles of governance call for honesty, transparency, and the eradication of corruption. If these values are applied, subsidies could be restructured rather than eliminated.
  2. Diversifying Revenue Streams: The reliance on petroleum as Nigeria’s primary source of revenue is unsustainable. The Islamic economist advocates for risk-sharing and diversification, encouraging investments in agriculture, technology, and other productive sectors. This approach aligns with the Islamic economic principle of tawazun (balance), where multiple sectors contribute to economic prosperity, reducing dependency on any one sector and providing stability in times of crisis.
  3. Investing in Human Capital: Instead of burdening citizens with higher fuel prices, the government should prioritize investments in education, healthcare, and job creation. This will enable individuals to lift themselves out of poverty and contribute to the economy. The principle of maslahah (public interest) in Islamic economics stresses the importance of policies that benefit the wider society.
  4. Islamic Financing Alternatives: Islamic finance offers alternatives to the traditional interest-based borrowing that often leads to crippling debt. Instruments like sukuk (Islamic bonds) and waqf (endowments) can be used to fund infrastructure projects and social services without placing undue financial burdens on future generations.

Growth, Not Austerity, Is the Solution

The removal of fuel subsidies in Nigeria is a shortsighted policy that fails to address the core issues plaguing the economy. While the government may believe that it is balancing the budget, it is, in fact, deepening poverty and stifling economic growth. The lesson from Argentina and other countries that have implemented similar policies is clear: austerity measures do not work.

Nigeria must pursue a growth-oriented strategy that focuses on boosting productivity, improving infrastructure, and investing in human capital. By tackling corruption in the subsidy system and adopting Islamic economic principles of justice and equity, Nigeria can create a more prosperous and inclusive economy. The Bretton Woods institutions’ one-size-fits-all approach to economic reform is flawed, and Nigeria must chart its own path—one that prioritizes the welfare of its people above all else.


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EDITORIAL

Dubai Sets the Stage for Global Free Zone Evolution at the World FZO World Congress

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The World Free Zones Organization (World FZO) marked a pivotal moment in its history as it celebrated its 10th anniversary at the World Congress in Dubai. The event, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, drew attention to Dubai’s expanding role as a global economic powerhouse. His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, inaugurated the event, underscoring the city’s commitment to shaping the future of global trade and economic development.

This year’s congress, held under the theme “Zones and the Shifting Global Economic Structures – Unlocking New Investment Avenues,” saw the launch of the World FZO’s new corporate identity, ushering in a fresh phase defined by three core pillars: Impact, Influence, and Trust. The organization’s rebranding signals its commitment to driving global economic progress, fostering sustainability, and creating inclusive growth opportunities through empowered free zones.

Dubai’s position as a leader in the free zone model is no accident. With cutting-edge infrastructure and a forward-looking approach, the emirate has transformed its free zones into dynamic hubs for trade, investment, and innovation. Sheikh Ahmed emphasized that Dubai is on course to become one of the world’s top three urban economies in the next decade, a goal aligned with the Dubai Economic Agenda (D33). This trajectory is driven by its status as a global hub for industries ranging from technology to healthcare and finance, all supported by the emirate’s advanced infrastructure and competitive environment.

The congress highlighted the role free zones play in not only national economies but also the global economic landscape. Free zones have become catalysts for growth, creating job opportunities, attracting investments, and fostering technological advancement. The UAE’s 44 specialized free zones, as noted by UAE’s Minister of Economy, Abdullah bin Touq Al Marri, serve as vital platforms connecting Asia, Europe, and Africa, while contributing to the competitiveness of the national economy.

Sheikh Ahmed’s presence at the event reinforced the centrality of free zones in the UAE’s broader economic vision, particularly as the country seeks to double its foreign trade to AED25 trillion by 2033. In the context of global economic uncertainty, the free zone model has proven resilient, responsible for facilitating $3.5 trillion in global exports annually, accounting for roughly 20% of global trade in goods.

The World FZO’s vision for the future is clear: empower free zones to be at the forefront of socio-economic development, innovation, and sustainability. By leveraging new technologies and embracing sectors like artificial intelligence, digital trade, and the Fourth Industrial Revolution, free zones are positioned to play a central role in shaping the future global economy. The launch of its new corporate identity represents a strategic shift, reflecting both the successes of the past decade and the opportunities for the future.

As the World FZO steps into its second decade, Dubai continues to play a critical role in shaping the narrative around global trade and free zones. With its visionary leadership, strategic location, and commitment to innovation, Dubai remains a beacon for investors, businesses, and governments worldwide looking to capitalize on the vast potential that free zones offer.

With over 1,600 members from 141 countries, the organization has facilitated the development of free zones, enabling countries to diversify their economies, create jobs, and attract foreign direct investment (FDI).

Africa is increasingly becoming a focal point for free zone development, offering untapped potential for industrialization and economic growth. As the continent pushes towards diversification, free zones provide an essential platform for African nations to engage in global trade, attract investment, and drive innovation. The African continent, home to rich natural resources and a youthful population, can benefit significantly from the expertise and frameworks developed by the World FZO.

Countries like China have exemplified how free zones can serve as engines of industrialization. China’s special economic zones (SEZs) have played a pivotal role in transforming its economy into the world’s manufacturing powerhouse. The success of the Shenzhen SEZ, which went from a fishing village to a sprawling industrial hub, demonstrates the transformative potential of free zones. China’s SEZs attracted billions in FDI, creating millions of jobs and propelling the country into global prominence.

In Africa, countries such as Morocco and Rwanda have started replicating this success. The Tanger-Med Free Zone in Morocco has become a significant gateway for African trade with Europe, serving as a model of how free zones can foster regional integration and industrialization. Similarly, Rwanda’s Kigali Free Trade Zone is laying the groundwork for the country’s transformation into an ICT and logistics hub.

The Islamic economy is another area where free zones can drive substantial growth. The global Halal economy is projected to reach $7 trillion by 2030, encompassing sectors like Halal food, pharmaceuticals, cosmetics, fashion, and Islamic finance. Dubai’s model of integrating Islamic economic principles within its free zones offers a blueprint for other nations. The Dubai Airport Free Zone Authority (DAFZA), for instance, supports Halal businesses with specialized zones designed to meet global Halal standards, thereby promoting Islamic economy sectors across the globe.

The World FZO, by fostering international cooperation and knowledge sharing, can help African and other Islamic economies develop their free zones to attract investments from key industries in technology, manufacturing, and finance. The success of Dubai’s Halal economy provides a powerful case for expanding this model across the Muslim world, particularly in Africa, where Islamic finance and the Halal economy hold immense potential for growth.

The Islamic Development Bank (IsDB) and the African Development Bank (AfDB) are critical institutions that can catalyze the development of free zones across Africa and Islamic economies. The IsDB has been at the forefront of providing financing and technical assistance to support infrastructure projects in member nations, including those in Africa. Its focus on infrastructure, capacity-building, and sustainable development is directly aligned with the goals of free zone development.

Through its various financial instruments, the IsDB can partner with African nations to establish and upgrade free zones, ensuring they meet international standards while promoting Islamic economic values. Moreover, the bank can fund Halal industry projects within free zones, stimulating trade and investment in sectors like agriculture, manufacturing, and logistics, which are crucial for the Islamic economy.

Similarly, the African Development Bank plays a pivotal role in driving Africa’s economic transformation. The AfDB’s focus on industrialization, infrastructure, and regional integration provides a strong foundation for supporting free zone initiatives across the continent. By financing large-scale infrastructure projects such as ports, airports, and industrial parks, the AfDB can help create the necessary conditions for African nations to establish competitive free zones that attract global investment.

As the World FZO steps into its second decade, it is time for African nations and Islamic economies to harness the power of free zones as catalysts for economic transformation. The successes of China, the UAE, and other global players provide clear evidence of the potential impact of free zones on industrialization, job creation, and economic growth. Africa, with its vast resources and growing population, must accelerate the development of its free zones to tap into global markets, attract FDI, and build sustainable economies.

We call on the Islamic Development Bank and the African Development Bank to prioritize the financing of free zone projects in Africa, aligning their efforts with the goals of economic diversification, industrialization, and Halal economy development. Additionally, governments across Africa must adopt policies that streamline free zone operations, ensuring a business-friendly environment that attracts global investors.

The Africa Islamic Economic Forum (AFRIEF) must continue its advocacy and support for the development of Islamic economies in Africa, using platforms like the World FZO to showcase the continent’s potential. By promoting the integration of Islamic finance, Halal industries, and free zones, AFRIEF can help position Africa as a leading player in the global Islamic economy.

This is Africa’s moment to step forward and seize the opportunities offered by free zones. Africa must embrace the vision of the World FZO and leverage the expertise of global partners to unlock new investment avenues, create jobs, and build a prosperous future for its people.

The time for action is now. Africa’s free zones must become the engines of its economic renaissance, driving industrialization, innovation, and global trade integration.


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