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6th International Shariah Scholars Forum (ISSF 2021)

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The International Shariah Research Academy for Islamic Finance (ISRA) in partnership with the Islamic Research and Training Institute (IRTI), is organising the 16th International Shariah Scholars Forum (2021) on 6-7 October 2021 correspondent with 29 Safar & 1 Rabi’ al-Awwal 1443 A.H. The theme of ISSF2021 is “Islamic Finance and Fiqh of Crisis Management“ READ MORE


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EVENTS & ANNOUNCEMENTS

GLOBAL VISION 2000 HOSTS 9TH ESCHATOLOGY CONFERENCE: “ENTERING THE FINAL STAGES OF END TIMES”

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The Global Vision 2000 ThinkTank will convene its 9th Eschatology Conference on Sunday, April 27, 2025, under the theme “Entering the Final Stages of End Times.” The timely event comes amid deepening global crises and follows the dramatic political transition in the United States, marking a critical juncture in what many see as a prophetic era of global reset and systemic upheaval.

The conference will tackle the convergence of economic collapse and escalating regional wars, particularly in Ukraine and the Holy Land. Speakers will analyze how these crises are shaping a multipolar world order, heightening the risk of a global conflagration, and signaling the end of the Western monetary era as debt, deficits, and inflation spiral out of control.

Director of Global Vision 2000, Moeen Yaseen, noted:

“This year’s conference comes at a time of historic transformation. We aim to deepen understanding of the unfolding Abrahamic eschatologies and realities in the Holy Lands.”

With a strong interfaith dimension, the conference will bring together leading Jewish, Christian, and Muslim thinkers, scholars, and journalists to examine end-time narratives and what lies beyond the collapse of global systems.

Key sessions include:

  • “Evolution of International Money and Western Eschatology”Dr. Simon Mouatt
  • “Trials of the End Times and the Islamic Political Economy”Baba Yunus Muhammad 
  • “Bayt al Maqdas, Malhama & Ghazwa-i-Hind”Dr. Abdul Salam Arif
  • “Zionist Christian Alliance: Useful Idiots and Sacrificial Lambs”Da’vid ben Elkashah
  • “Al Mahdi, Khilafat, Bayt Al Maqdis: Prophetic Governance and Restoration of Justice”Imam Dr. Karim Abu Zaid
  • “Signs of the Hour, Jerusalem and the Messiah”Rabbi Benjamin Abrahamson

The agenda will also feature discussions on Christian Zionism, techno-feudalism, the hijacking of religion, and the emerging alternatives to capitalist and imperial paradigms.

The virtual event is scheduled to begin at 10:00 AM UK Time / 1:00 PM Türkiye Time.

Event Title: Entering the Final Stages of End Times

Date: Sunday, April 27, 2025 / Shawwal 29, 1446

Platform: Online Conference

Registration & Info:

myaseen@globalvision2000.com

Website: https://globalvision2000.com/


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Madinah to Host the 45th AlBaraka Islamic Economics Symposium

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The AlBaraka Islamic Economics Symposium, a globally recognized and highly influential forum dedicated to the advancement of Sharia-compliant finance and economics, is poised to convene its 45th edition. Al Baraka Group, a preeminent international Islamic financial institution with a significant global presence, has once again demonstrated its unwavering commitment to fostering intellectual discourse and the progress of the industry by announcing its sponsorship as a “Global Partner” for this prestigious event.

The 45th AlBaraka Islamic Economics Symposium is scheduled to take place on April 16–17, 2025, under the timely and thought-provoking theme: “Islamic Banking in Fifty Years: Past Achievements and Future Aspirations.” This landmark symposium will be hosted at the esteemed University of Prince Muqrin, located in the historically significant city of Madinah, Saudi Arabia, a spiritual and intellectual heartland for Muslims worldwide.

The Significance of Madinah as Host City

The selection of Madinah as the host city for the 45th AlBaraka Islamic Economics Symposium carries profound significance. As the second holiest city in Islam and the final resting place of the Prophet Muhammad (peace be upon him), Madinah embodies a rich legacy of Islamic scholarship, justice, and economic principles. This unique setting will undoubtedly imbue the symposium with a sense of historical context and ethical grounding, fostering an environment conducive to insightful discussions on the past, present, and future of Islamic finance.

This upcoming AlBaraka Islamic Economics Symposium is anticipated to be a pivotal gathering, attracting a distinguished and diverse cohort of intellectual and industry leaders from across the globe. The program will welcome a distinguished assembly of pre-eminent Sharia scholars and jurists, highly experienced bankers and financial practitioners, and leading academics specializing in Islamic economics, finance, and related fields.

The two-day event is meticulously structured to facilitate in-depth engagement through a rich program encompassing keynote addresses, interactive workshops, and thought-provoking panel discussions. These sessions will collectively aim to dissect the remarkable journey of Islamic banking over the past half-century, tracing its evolution from its early conceptualization and implementation to its current standing as a dynamic and increasingly influential force within the global financial system.

Evolution of Islamic Banking

Attendees at the AlBaraka Islamic Economics Symposium will have the invaluable opportunity to engage in critical analyses of the key legislative and jurisprudential developments that have been instrumental in shaping the regulatory and Sharia frameworks governing Islamic banking practices. The symposium will also provide a platform to examine the impressive global market expansion achieved by Islamic financial institutions over the past five decades, exploring the diverse strategies and innovative pathways that have facilitated this growth.

This includes a focused look at the establishment and operation of Islamic windows within conventional banking institutions, allowing them to offer Sharia-compliant products and services, as well as the strategic acquisitions undertaken by Islamic financial groups to broaden their reach while steadfastly maintaining their distinct Islamic identity and core principles.  A central pillar of the discussions at the AlBaraka Islamic Economics Symposium will be the fundamental principles of Shariah governance.

Experts will explore the crucial role of Sharia supervisory boards (SSBs) within Islamic financial institutions, examining their composition, responsibilities, and the methodologies they employ to ensure that all operations and products adhere strictly to Islamic law. Furthermore, the symposium will address the ongoing efforts to develop and adopt universally recognized international Sharia standards. The establishment of such standards is viewed as essential for fostering greater harmonization, transparency, and confidence within the global Islamic finance industry, providing a solid foundation for its continued growth and integrity.

Looking towards the future, the agenda of the AlBaraka Islamic Economics Symposium will address some of the most pressing and pertinent topics concerning the role of Islamic banks in fostering sustainable socio-economic development within their respective communities and on a broader global scale. Participants will critically examine how Islamic financial principles can contribute to poverty alleviation, financial inclusion, and equitable wealth distribution.

The symposium will also delve into the future trajectory of Islamic banking, with a keen focus on navigating the complex challenges that lie ahead, such as increasing regulatory scrutiny, competition from conventional finance, and the need for greater product innovation. Simultaneously, the symposium will explore the promising opportunities presented by a rapidly changing global financial landscape, including the rise of financial technology (FinTech), the growing demand for ethical and socially responsible investing, and the increasing awareness of Islamic finance as a viable alternative financial paradigm.

A significant highlight of the AlBaraka Islamic Economics Symposium will undoubtedly be a high-level panel discussion featuring prominent leaders and thinkers in the Islamic finance world. This session will specifically focus on the critical leadership role that major banking groups play in steering the overall direction of the Islamic finance sector and actively promoting core Islamic economic principles – such as the prohibition of interest (riba), the emphasis on profit and loss sharing, and the avoidance of speculative activities – on a global scale.

In addition to these broad and strategic discussions, the AlBaraka Islamic Economics Symposium will also feature two specialized workshops designed to provide participants with more focused and practical insights into key areas of development within the industry.

Workshop 1: New Governance Standards by AAOIFI

The first workshop will concentrate on the newly evolving governance standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). AAOIFI’s standards are widely recognized as the benchmark for Sharia-compliant accounting, auditing, ethics, and governance for Islamic financial institutions worldwide, and this workshop will provide crucial guidance on their implementation.

Workshop 2: Developing Islamic Financial Products through Financial Engineering

The second workshop will delve into the sophisticated mechanisms for developing innovative Islamic financial products through the application of modern financial engineering tools. This session will explore how to create Sharia-compliant financial instruments that effectively meet the diverse and evolving needs of individuals, businesses, and governments in the 21st century.

To further enrich the experience for attendees, the AlBaraka Islamic Economics Symposium will also host several important accompanying activities. These will include the prestigious AlBaraka Forum awards ceremony, a significant event that recognizes and celebrates outstanding contributions to the advancement of Islamic economics and finance across various fields, including research, practice, and policy. The symposium will also provide a valuable platform for institutions and organizations within the Islamic finance sector to showcase their latest projects, initiatives, and technological advancements. Furthermore, the event will facilitate networking opportunities, including the signing of memorandums of understanding (MoUs) between key stakeholders, fostering future collaborations, partnerships, and the collective growth of the Islamic finance ecosystem.

Al Baraka Group’s Enduring Legacy: Four Decades of Intellectual Stewardship

The Al Baraka Group’s consistent and unwavering annual sponsorship of the Al Baraka Islamic Economics Symposium is a powerful testament to its foundational commitment to fostering rigorous intellectual discourse and actively supporting the continuous development and refinement of Islamic banking and economics as a robust and ethical financial system. Over the past four decades, this distinguished symposium has played an indispensable role in establishing and meticulously refining the core jurisprudential foundations upon which the entire edifice of Islamic banking and economics is constructed.

It has organically evolved into a highly respected and widely consulted scholarly reference, serving as a critical resource for academic researchers undertaking in-depth studies, Sharia committees within Islamic financial institutions grappling with complex issues of compliance, and fatwa bodies responsible for issuing authoritative religious pronouncements on intricate financial matters. In this vital capacity, the AlBaraka Islamic Economics Symposium has been instrumental in diligently safeguarding the fundamental integrity of Islamic banking practices as they effectively serve diverse societies and make meaningful contributions to sustainable economic development in strict accordance with the overarching principles of Islamic law and ethics.

Since its inception in 1981, the AlBaraka Islamic Economics Symposium has proudly maintained its position as a leading and pioneering global platform for profound and impactful discussions at the crucial intersection of Sharia law and contemporary economic realities. For over four decades of dedicated service to the intellectual advancement of the field, the symposium has made truly substantial and enduring contributions to the ongoing evolution and refinement of Islamic economic practices, thoughtfully addressing both the foundational theoretical jurisprudential underpinnings and the increasingly complex practical technical aspects of this dynamic and rapidly expanding industry.

The AlBaraka Islamic Economics Symposium continues to serve as a vital and highly respected forum where emerging and often complex economic issues and challenges are thoughtfully presented for thorough and rigorous deliberation by a carefully selected and highly esteemed panel of globally recognized senior Islamic scholars and jurists. This crucial scholarly engagement is powerfully complemented by the active and insightful participation of a diverse range of international financial and economic experts, creating a uniquely dynamic and intellectually stimulating environment that fosters meaningful dialogue, the cross-pollination of ideas, and the generation of truly innovative and practical solutions to the multifaceted challenges facing the Islamic financial world.

The enduring and overarching goal of the AlBaraka Islamic Economics Symposium remains the vital mission of continually enriching Islamic economic practices by thoughtfully offering well-reasoned and authoritative fatwas, providing practical and implementable recommendations, and developing genuinely effective and sustainable solutions to the increasingly intricate and pressing economic issues confronting Muslim communities and the wider global landscape in the 21st century.

Al Baraka Group B.S.C. (C) operates under the stringent regulatory oversight of the Central Bank of Bahrain, holding a prestigious license as an Investment Business Firm – Category 1 (Islamic Principles). As a truly prominent and influential international Islamic financial group, Al Baraka Group is deeply committed to providing a comprehensive and diverse suite of rigorously Sharia-compliant financial services through its extensive and strategically located network of banking subsidiaries that currently spans across 13 strategically important countries worldwide.

These ethically grounded services encompass a wide spectrum of financial solutions, including retail banking services tailored to individual needs, comprehensive corporate banking solutions designed to support businesses of all sizes, sophisticated treasury functions managing financial resources by Islamic principles, and a range of innovative investment banking services that adhere strictly to the tenets of Islamic Shari’a.

The Al Baraka Group boasts a truly significant and strategically important geographical presence, with well-established and thriving operations thoughtfully located in key markets across the Middle East, North Africa, and Asia, including Jordan, Egypt, Tunisia, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, and Syria. In addition to its network of fully operational subsidiaries, Al Baraka Group also maintains a presence in Iraq through two strategically important branches and operates a representative office in Libya, further extending its reach and facilitating cross-border financial activities by Islamic finance principles.

Through its extensive and well-established network of over 600 branches strategically located across these diverse markets, ABG proudly serves a substantial and rapidly growing population base, currently estimated at around one billion customers worldwide. This impressive reach underscores Al Baraka Group’s significant and ever-increasing impact on the global Islamic financial landscape and its vital role in promoting ethical and Sharia-compliant financial solutions to a vast and diverse clientele.

The authorized capital of Al Baraka Group stands at a robust US$ 2.5 billion, a testament to its strong and stable financial foundation and its enduring commitment to achieving sustainable growth and fostering innovation within the dynamic and increasingly important global Islamic finance industry. The Group’s ongoing and steadfast sponsorship of the AlBaraka Islamic Economics Symposium unequivocally reaffirms its deep-seated dedication to fostering critical knowledge sharing, promoting cutting-edge research, and driving meaningful innovation within the sector it so prominently and ethically represents on the global stage.


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A Journey in Service: General Ibrahim Babangida’s Autobiography Launches in Abuja

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Our Special Correspondent

On February 20, 2025, the Nigerian capital, Abuja, played host to a landmark event in the nation’s history—the official launch of General Ibrahim Badamasi Babangida’s much-anticipated autobiography, A Journey in Service. Held at the prestigious Transcorp Hilton Hotel, the ceremony was attended by a distinguished assembly of past and present leaders, political figures, military officers, and intellectuals. The event was not just a celebration of a book but a reflection on the life and times of one of Nigeria’s most enigmatic and influential leaders.

A Historic Gathering of Dignitaries

The launch was graced by an impressive lineup of prominent personalities from Nigeria and beyond. Among the attendees were former Nigerian Presidents Olusegun Obasanjo and Goodluck Jonathan, as well as the country’s current leader, President Bola Ahmed Tinubu. Former Ghanaian President Nana Akufo-Addo delivered the keynote address, emphasizing the importance of leadership, democracy, and service in Africa’s development.

Notably absent from the event was former President Muhammadu Buhari, whose non-attendance sparked speculation among political analysts. Nonetheless, the atmosphere remained charged with a sense of camaraderie, as old allies and rivals gathered under one roof to honor the legacy of a man who once steered Nigeria’s destiny.

The Book: A Journey in Service

General Babangida’s autobiography, A Journey in Service, provides an introspective look into his decades in public life, offering readers an insider’s view of Nigeria’s political landscape during his tenure as military president from 1985 to 1993. The book covers key moments of his career, including his role in shaping Nigeria’s economic policies, his controversial decision to annul the June 12, 1993, elections, and his relationships with fellow African and global leaders.

One of the most anticipated revelations in the book is Babangida’s candid discussion on the annulled 1993 elections, widely regarded as Nigeria’s freest and fairest. In A Journey in Service, he acknowledges MKO Abiola as the rightful winner of the election and expresses regret over the decision to nullify the results. He provides insights into the pressures and security concerns that led to the move, an issue that has been a subject of debate for over three decades.

The book also delves into Babangida’s role in Nigeria’s economic restructuring, including the introduction of the Structural Adjustment Program (SAP), which remains one of the most debated economic policies in the country’s history. Babangida defends his decisions, explaining the circumstances that necessitated the implementation of SAP and the challenges his administration faced in balancing economic liberalization with social stability.

Beyond politics, A Journey in Service offers personal reflections on Babangida’s upbringing, his experiences in the Nigerian military, and his philosophy on leadership. It also sheds light on his relationship with his late wife, Maryam Babangida, whose Better Life for Rural Women program significantly impacted women’s empowerment in Nigeria.

Highlights from the Launch

The launch ceremony was marked by speeches, by former government officials who provided perspectives on Babangida’s legacy.  In his remarks, President Bola Tinubu praised Babangida’s contributions to Nigeria’s development, stating, “General Babangida’s leadership was pivotal in shaping modern Nigeria. His willingness to document his journey serves as an invaluable resource for future generations.”

Former President Olusegun Obasanjo, known for his often critical stance on past Nigerian leaders, commended Babangida for his decision to write an autobiography, describing it as a courageous act of self-examination. “History is best told by those who lived it. General Babangida has given us a first-hand account of his service to Nigeria,” Obasanjo noted.

Public Reactions and Media Coverage

The launch generated significant buzz across Nigeria, with political commentators, historians, and journalists analyzing the book’s contents and its potential impact on Nigeria’s historical narrative. Major media outlets provided extensive coverage of the event, with television stations broadcasting live from the venue and social media platforms buzzing with discussions about Babangida’s revelations.

Some Nigerians view A Journey in Service as an attempt at historical redemption, while others see it as a vital contribution to understanding Nigeria’s past. Political analyst Jide Ojo remarked, “Whether one agrees with Babangida’s policies or not, his book is a crucial addition to the historical documentation of Nigeria’s governance.”

However, not all reactions have been positive. Critics argue that the book does not go far enough in addressing some of the more contentious aspects of Babangida’s tenure, including allegations of corruption and human rights violations. Activist and lawyer Femi Falana commented, “While it is commendable that General Babangida has written his memoirs, there are still many unanswered questions about his administration.”

The Legacy of General Ibrahim Babangida

Regardless of differing opinions, there is no denying that General Babangida remains one of the most consequential figures in Nigeria’s history. His influence on governance, economic policy, and military strategy continues to be felt decades after his presidency.

A Journey in Service is more than just a memoir; it is a reflection of Nigeria’s evolving democracy and a call for introspection among leaders and citizens alike. By documenting his experiences, Babangida has provided a resource for scholars, policymakers, and future generations who seek to understand Nigeria’s political evolution.

Conclusion

The launch of A Journey in Service was a momentous occasion, not just for General Babangida but for Nigeria as a whole. It was an opportunity to reflect on the past, draw lessons for the present, and inspire conversations about the nation’s future.

As Nigeria continues to navigate its path towards sustainable democracy and economic stability, Babangida’s autobiography serves as both a historical record and a thought-provoking narrative on leadership, service, and the complexities of governance. Whether viewed as a redemption story or a political manifesto, A Journey in Service has undoubtedly cemented its place in the annals of Nigerian history.


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