North Africa Records – Page 18 – Arabian Records (1st post : Eid Al Fitr – 01st Shawwal 1439 (AH) / 15th June 2018 ) / (BETA testing – Research

TUNISIA / MOROCCO: Fatima Al-Fihri: The Woman who Founded the World’s First University in Fez, Morocco

When thinking of the oldest universities in the world, probably the first ones that come to most people’s minds are Oxford and Bologna, but according to UNESCO and the Guinness World Records, Al-Qarawiyyin University (also written as Al-Karaouine) is the “oldest existing, and continually operating educational institution in the world.”

Founded in 859 A.D. by Tunisian-born Fatima al-Fihri in Morocco’s Fez, the university is not only the oldest higher education institution on Earth but also the first to be founded by a Muslim woman. Fatima used her inheritance from her merchant father’s wealth to found the university which started as an associated school – known as a madrasa – and a mosque that eventually grew into a place of higher education. It also introduced the system of awarding degrees according to different levels of study in a range of fields, such as religious studies, grammar and rhetoric. Though the university first focused on religious instruction, its fields of study quickly expanded to include logic, medicine, mathematics and astronomy, among many others.

The University of Al Quaraouiyine became a state university in 1963 and now awards degrees in Islamic, religious and legal sciences with an emphasis on classical Arabic grammar and linguistics and law.

Interestingly, teaching is still delivered in a very traditional manner, whereby students are seated in a semi-circle around a Sheikh (Islamic scholar), who prompts them to read sections of particular texts, asks them questions on aspects of grammar, law, or interpretation, and explains difficult points. Education at the University of al-Qarawiyyin concentrates on the Islamic religious and legal sciences with a heavy emphasis on, and particular strengths in, Classical Arabic grammar/linguistics and Maliki Sharia, though lessons on non-Islamic subjects are also offered to students. Teaching is still delivered in the traditional methods. The university is attended by students from all over Morocco and Muslim West Africa, with some also coming from further abroad. Women were first admitted to the institution in the 1940s

Fatima al-Fihri was born in 800 A.D. She was the daughter of Mohammed Bnou Abdullah al-Fihri – a rich merchant who settled in Fez with his family during the reign of Idris II.

Fatima’s family was part of a community called the “Qarawiyyin” (the ones from Qayrawan) whose two thousand families migrated from Qayrawan in Tunisia, to Fez in Morocco which was then under the rule of Idris II, a respected and devout ruler.

After the community was banned by the local ruler. The caravan included Fatima’s father Muhammad bin Abdullah Al-Fihri, and sister Mariam. Fatima was well versed in classical Islamic learning such as fiqh (jurisprudence) and hadith (Islamic traditions based on Prophet’s life). She inherited a large fortune from her merchant father which she used to build the university. She personally supervised the entire gigantic enterprise, from putting up the foundation to the functionalizing of these institutions. When she embarked on her mission, she had lost her father, husband, and brother – all primary sources of support and protection for a woman. Any other woman would have retreated to the backwaters of domestic life. But Fatima appears to have been an extraordinarily inspired and determined woman with steely grooves. All her great achievements came during periods of loneliness and in circumstances when women normally shun the world and seek the company of the home.

During her lifetime, Fatima was called the “mother of boys”. According to historian Mohammed Yasser Hilali, “this nickname probably stems from her charity and the fact she took students under her wing.” Fatima al-Fihri herself is considered a saint and she is much respected among the believers especially in Fez. In 2017, a prize was created in Tunisia in her honor. It rewards initiatives which encourage access to training and professional responsibilities for women. Furthermore, an academic program and a scholarship given to students from Europe and North Africa pay tribute to Fatima al-Fihri.

The University of Al-Qarawiyyin (also Al-Karaouine), which was then just called a madrasa (an institute of religious learning), was 30 m long, with a courtyard, a large library, and several schoolrooms. Although initially only the Qur’an and related religious lessons were taught, many other courses of study, like mathematics, medicine, Arabic grammar, history, geography, astronomy, chemistry, music and logic were soon introduced. Fatima studied there herself, along with her students, and awarded them degrees once they completed the courses: a degree that was chiseled onto a wooden board, which is now displayed in the university’s library. She also conducted debates and symposiums periodically for her students, producing politically-aware individuals.

With these innovative ideas, Fatima al-Fihri had not merely founded the first university but had introduced the concept of awarding degrees that is now an essential part of modern higher education.

In fact, the university produced many celebrated intellectuals and historians who are still known to this day: the Islamic philosopher Ibn Rushd, Andalusi diplomat and geographer, Hassan al-Wazzan and historian and thinker Ibn Khaldun, the famous Jewish philosopher, Moses Ben Maimon and Aka Maimonides.

The Christian scholar, Gerbert of Aurillac, who later became Pope Sylvester II, is believed to have visited the university several times. His visits helped him introduce Arabic numerals and the concept of zero to Europe. The University of Al Qarawiyyin is still considered a leading religious and education institution in the Muslim world. The university has moved away to another part of Fez, but the mosque and the library remain at the ancient complex. The University of Al-Qarawiyyin is the oldest existing, continually operating and the first degree awarding educational institution in the world according to UNESCO and Guinness World Records and is sometimes referred to as the oldest university.

(M Ahmad is a regular writer for this newspaper and can be reached at specialachivers78@gmail.com)

source/content: risingkashmir.com (headline edited)

__________

___________

TUNISIA

EGYPTIAN Soprano Neveen Allouba to be Awarded France’s Order of Arts and Letters

Well-known Egyptian soprano Neveen Allouba will be awarded France’s Ordre des Arts et des Lettres in the grade of Chevalier (Knight) by France’s ambassador to Cairo next week.

Allouba’s award for exceptional achievements in the Egyptian music scene follows decades of work in the many aspects of the country’s cultural scene.

Born in 1955, she is among the best known personalities of the Egyptian music scene, with substantial influence outside the country.

Her career includes working with the Cairo Opera Company, where she has performed in countless operas. She has taught numerous young singers and both founded and directed many successful creative endeavours of the Fabrica musical theatre company.

As a young girl, Allouba had dreams of becoming an actress, but was not supported by her family. Instead, she turned to playing piano and singing, graduating from the Cairo Conservatory in 1978.

She was granted scholarships from the Deutscher Akademischer Austauschdienst (West German Cultural Exchange) and the Friedrich-Naumann Foundation to study opera performance and vocal pedagogy at the Hannover Hochschule fur Music and Theatre where she deepened her singing techniques and eventually obtained a doctorate in 1988.

During her decade-long stay in Germany, Allouba performed as soloist at the Detmold Opera. She also performed in other European operas and theatres and across the Arab world at that time. In 1985, she won the first prize in the female voice category of the competition for young opera singers in Berlin.

Upon her return to Egypt, the soprano became a soloist at the Cairo Opera Company, becoming the first female singer to perform in the newly opened Cairo Opera House. As her singing career progressed, Allouba coupled her performances with her teaching career at the Cairo Conservatory, Cairo Opera Development Centre, University of Alexandria and the American University in Cairo where she is an adjunct professor of voice. She also participated as a jury member in a number of singing competitions.

Some of her students went on to continue their education outside Egypt and thrived as internationally renowned singers.

These include Farrah El-Dibani, a mezzo soprano who performs at the Paris Opera; the Germany-based Rita Sebeih, the lead role of Jasmine in the Disney German production of Aladdin; Nesma Mahgoub, winner of the eighth season of the Star Academy Arab World; Fatma Said, a soprano who was the first Egyptian to join the Academy of Milan’s Teatro alla Scala before launching a big international career.

Fabrica chapter

In mid-2010, Allouba founded the Fabrica musical theatre company, through which she trains, develops and promotes new voices.

Fabrica’s pilot production of Mozart’s opera The Magic Flute in Egyptian Arabic was staged in collaboration with the Bibliotheca Alexandrina in 2011.

In 2013, the company premiered Les Miserables in Egyptian Arabic and even toured in the USA. It experienced an additional boost in popularity when it was promoted by the internationally famous Egyptian comedian Bassem Youssef.

This was only the beginning of many successes of Fabrica and its members. Its successes include performances of Brecht’s Threepenny Opera and adaptations of local shows including El-Leila El-Kebira by Salah Jaheen and Sayed Mekawy, in addition to rock, jazz and Disney concerts.

Fabrica also performed during the inaugural El Gouna Film Festival’s opening ceremony (2017), the SNL Bel Araby’s 50th episode celebration, the Egyptian Media and Production Company’s 20 year anniversary and the Intra-African Trade Fair (2018), among other events. Fabrica was brought to light again, as the company won the award for Best Music Video at the ninth annual MoziMotion festival, held in Hilversum, the Netherlands (October 2019) for Mercury Rising: A Queen Tribute, released in January 2019 (a few months after Bohemian Rhapsody was released in theatres).

Overdue recognition

Allouba’s portfolio and well-established position in the field combines many operatic appearances as well as an unconditional belief in the young generation and a natural – almost motherly – dedication to support and promote young talents, while offering to the Egyptian audiences valuable performances.

It’s worth mentioning that most recently, Allouba was appointed director of the new Arkan Theatre in Sheikh Zayed.

The award comes after Allouba’s decades of perseverance and work that often lacked sufficient limelight. It is an important recognition, if overdue, for an artist whose work has created a strong impact on many singers of more than one Egyptian generation.

The France’s Order of Arts and Letters will be awarded to Allouba during a ceremony held at the French Embassy in Cairo, in the first week of June.

Over the past years, a number of Egyptian figures have also been awarded the Knight of the Order of Arts and Letters in the grade of Chevalier.

They include Egyptian novelist and Nobel laureate Naguib Mahfouz, novelist and journalist Gamal El-Ghitani, visual artist and women’s activist Inji Aflatoun, novelist Alaa al-Aswany, theatre director Ahmed El Ettar , composer and conductor Hisham Gabr , producer and scriptwriter Mohamed Hefzy, mezzo soprano Farrah El-Dibany , artist Karima Mansour , among others.

Also the Tunisian-Egyptian actress Hend Sabry is among the recipients of the award in grade of the Commander.

source/content: english.ahram.org.eg/ (headline edited)

___________

________

EGYPT

EGYPTIAN-BRITISH Mohamed Mansour gives Tories their Largest Donation in two decades

Egyptian businessman said Rishi Sunak had shown himself to be ‘very capable’.

The Conservative party has received its largest donation in more than two decades from an Egyptian-born, British-based billionaire.

Mohamed Mansour has given the party £5 million ($6.2 million) and thrown his backing behind Prime Minister Rishi Sunak, saying he understands “how growth is generated in the modern economy”.

Writing in The Telegraph on Monday, Mr Mansour, who previously spoke to The National for an Arab Showcase feature, said Mr Sunak had shown himself “to be very capable”.

He wrote: “He gets the importance of technology and innovation. He can make the modern economy work for all UK citizens.”

The £5 million donation is the second largest individual gift on record to a political party, after Lord Sainsbury of Turville gave £8 million to the Liberal Democrats in 2019.

And it matches the £5 million donation to the Conservative Party by Sir Paul Getty in 2001. Mr Mansour’s gift has contributed to one of the party’s most successful first quarters of donations in recent years.

“I believe that this country has a very capable Prime Minister,” he wrote.

“My confidence in the Prime Minister is why I was proud to become a senior treasurer of the Conservative Party last December. I want to give him the best chance of having a full five-year term and so have donated £5 million to the party’s election fighting fund. I look at what he has achieved in his first months in office and think what he could do in five years.”

‘I had to do something in my life’

Mr Mansour has overseen the expansion of his family’s company, which has grown from its early beginnings as a cotton exporter to the global conglomerate it is today, with revenue of more than $7.5 billion.

He told The National in 2021 about how a period of convalescence aged 10 gave him the impetus he needed to go on to succeed in life.

Week after week he lay in plaster recuperating from horrific injuries after a car hit him as he was crossing the street.

The doctors had wanted to amputate his leg, but the headstrong boy refused, vowing to stick it out as long as necessary. It took three years.

Mr Mansour looks back on the episode as a part of his life when his father taught him how to be a good entrepreneur and an honourable man.

“That’s when I developed in me that I had to do something in my life,” he told The National.

The billionaire learnt as a boy the importance of a strong work focus, determination, vision and priorities, but also trust, understanding, empathy and loyalty that goes both ways.

“People who love and respect you will do anything for you, I find, and vice versa,” Mr Mansour said.

They are the qualities he credits for his successful leadership at the helm of the Mansour Group, which has a presence in 100 countries and 60,000 employees.

The Egyptian cotton trading company was founded in 1952 and run by his father, Loutfy Mansour.

“My father always told me: ‘Mohamed, you’re a very special young man because of the strength you showed when everybody was saying that we have to amputate the leg. You’re telling the doctors, ‘No.’

“I said, ‘No’,” Mr Mansour recalls, with an edge to his voice, “and I meant it.”

Family’s home seized

The fortune that his father amassed as a textiles trader was lost in 1963 when the business was nationalised by the Egyptian government.

Mr Mansour’s childhood home, with its 40 rooms and 30 staff was confiscated, and his father went from feted capitalist to persona non grata on a state income of $75 a month.

He explains how his life changed overnight, with his family unable to support him while at university in the US, forcing him to trade in his car and work as a waiter.

Back in Egypt, his father was left trying to support the family on a meagre salary, which left Mr Mansour with a lifelong belief in the importance of political stability, property rights and the rule of law.

Mr Mansour joined the company in 1973 and took it in a new direction, forming a strategic partnership first with the automotive multinational General Motors and then with the construction equipment manufacturer Caterpillar. Other leading brands, such as Philip Morris, Peugeot, MG and McDonald’s would follow.

Mr Mansour and his two brothers continued to steer the company to success after their father’s death in 1976.

In 2005 Mr Mansour stepped back from his business to serve in the Egyptian government, spending almost four years trying to modernise the country’s transport infrastructure.

In the article on Monday he says: “But when I had finished that period of service, I knew there was one country where I wanted to base my business. A place where the rule of law is paramount, property rights are respected and with an enviable record of political stability. This country: the United Kingdom.”

He says he loves and respects the country, which has welcomed himself and his family so warmly.

“It has a proud history and noble traditions. I believe that it has great days ahead of it. I want to do what I can to help this country – the place where I am watching my grandchildren grow up – achieve its great potential,” he adds.

source/content: thenationalnews.com

____________

Mohamed Mansour. Wikimedia Commons

____________________

BRITISH / EGYPTIAN

SAUDI ARABIA to Host ‘4th Arab Competition Forum’ Organised by UN Economic and Social Commission for Western Asia, in Riyadh May 23-24

The authority said the forum is an opportunity to learn from regional and global experiences and to share best practices in safeguarding competition and combating monopolistic practices.

Saudi Arabia will host the fourth Arab Competition Forum, organized by the UN Economic and Social Commission for Western Asia, the UN Conference on Trade and Development, and the Organization for Economic Co-operation and Development.

The General Authority for Competition said that Saudi Arabia’s hosting of this forum emanates from its pioneering role in organizing events and forums aimed at upgrading the level of cooperation with other Arab countries to enhance fair competition in the markets, raising the level of consumer welfare in Arab countries, and stimulating enterprises to develop and innovate.

The event will take place from May 23–24 with the involvement of other competition agencies from fellow Arab countries and more than 15 experts and representatives from international agencies and organizations involved in the competition.

The authority said the forum is an opportunity to learn from regional and global experiences and to share best practices in safeguarding competition and combating monopolistic practices.

It focuses on discussing mergers and acquisitions, as well as enhancing the effectiveness of competition authorities in developing countries.

It also examines best practices for planning and conducting market studies as well as concerns arising from abuse of dominance in digital markets.

The forum was first launched in 2020 and aimed at establishing a continual knowledge-sharing platform on competition policy and enforcement for Arab stakeholders.

It advances advocacy and knowledge, builds capacity on best practices in competition across the Arab region, and facilitates coordination and collaboration at the national, regional and international levels.

source/content: arabnews.com (headline edited)

____________

_________________

SAUDI ARABIA

EGYPTIAN / FRANCE: ‘Kalam Aflam’: Fostering a Community for Emerging Arab Artists in Paris

Founded by Egyptian filmmaker Hayat Aljowaily, ‘Kalam Aflam’ is spotlighting emerging Arab artists in Paris.

As Egyptian and Arab artists continue to explore new mediums and voices around the world, experimenting with themes rooted in their respective local identities, one Egyptian filmmaker in France found herself yearning for a community, and so she became a host for one. With a belief in the power of the collective, Hayat Aljowaily founded ‘Kalam Aflam’, a space for emerging Arab artists in Paris and beyond.

‘Kalam Aflam’ launched its first event this May at Point Ephemere, Paris, under the theme ‘Coming of Age’, which hosted a series of art installations, short films and musical performances centring around the same theme. “This is a project that I was dying to make happen for three years, and so the theme ‘Coming of Age’ felt very fitting for our first event,” Hayat Aljowaily tells CairoScene. “It – or we – are something that is ‘becoming’.”

Like many Arabs in the diaspora, Aljowaily can sometimes feel like her experience isn’t Western enough or Arab enough. Within the folds of ‘Kalam Aflam’, however, she looks to surround herself with artists who share in her experiences.

“As an Arab artist living abroad, one always feels like they’re in between. But when you’re part of a community of people who look like you or have similar experiences, it changes everything,” Aljowaily says. “It was so refreshing to be in a space where I’m not the only Arab woman, my friends had to look around within a sea of familiar faces to spot me.”

Through an upcoming series of public arts and cultural events, ‘Kalam Aflam’ offers up a space for self-expression and a blossoming creative narrative for those on the lookout for a home. Aljowaily and her partners, Palestinian communications specialist Abood Al Bakri and Lebanese art director Katja Kanaan, continue to open doors for emerging voices, carving out a space for themselves while spotlighting stories waiting to be told.

source/content: cairoscene.com (headline edited)

___________

____________________

FRANCE / EGYPT

EGYPTIAN: Omar Khairat takes centre stage as ‘Cultural Personality of the Year’: UAE’s 17th Sheikh Zayed Book Award (SZBA)

Egyptian acclaimed composer Omar Khairat has been selected as the Cultural Personality of the Year by the organizers of the UAE’s 17th edition of the Sheikh Zayed Book Award (SZBA).

Omar Khairat will be awarded “in honour of an illustrious, decades-long career of timeless musical creations that have contributed to shaping the collective cultural consciousness of the Arab region,” as stated by the SZBA’s official website.

“The SZBA’s Board of Trustees endorsed the Scientific Committee’s decision to choose Khairat as the Cultural Personality of the Year in recognition of his remarkable talent and artistic turnout, which has been tremendously popular in the Arab world and has been featured in musical introductions to films and many dramas.”

The SZBA is organized by the Abu Dhabi Arabic Language Centre (ALC); part of the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi).

Winners of this year’s SZBA also include Iraqi poet Ali Jaafar Alallaq; French author Mathieu Tillier; Algerian author Said Khatibi; Tunisian translator Chokri Al Saadi; Tunisian critic Jalila Al Tritarm, and Egyptian publishing house Dar ElAin.

Excellence and Innovation

Each year, the Cultural Personality of the Year award is given to “a prominent figure who has contributed to the advancement of Arabic culture and promoted peaceful coexistence.”

“This year, we are proud to select Omar Khairat, one of the most renowned and celebrated musicians in the Arab world,” stated Undersecretary of DCT Abu Dhabi Saood Abdulaziz Al Hosani.

“His constant striving for excellence and innovation has seen the artist make an incalculable impact on the music industry and the wider cultural landscape, as well as foster important cross-cultural dialogue. His passion reflects Abu Dhabi’s vision to nurture creativity and harness the power of the arts to build bridges and transcend borders,” he added.

Considerable Career

Born in 1947, the multi-awarded Omar Khairat is one of the top musicians of the Arab world with hundreds of memorized compositions in his repertoire.

Throughout his long successful career, he has written scores for numerous films and television series, including The Sixth Day (1984); The Terrorist (1993); Mafia (2002); Girl’s Love (2003); The Embassy in the Building (2005), and Deer’s Blood (2006), to name but a few.

His concerts are usually fully-booked weeks ahead of time with his wide fan base singing along and humming with compositions like Heya Di El-Hayah; Fi Hawid El Leil; Arabian Rhapsody; Fiha Haga Helwa; Eadam Mayet; El-Khawaga Abdel-Kader; Giran El-Hana; Saber; Arfa; Qadeyet Am Ahmed; Khali Balak Men Aklak, and other classic hits of time-honoured TV and films themes.

Among his upcoming performances is the 3^rd of June’s large concert at the Sound and Light Theatre at the Pyramids and Sphinx site in Giza, where half of the tickets have already been sold-out.

source/content: english.ahram.org.eg (headline edited)

____________

Egyptian composer Omar Khairat performs at one of his recent concerts

_________

EGYPT

DUBAI, U.A.E: Mohamed Al Hussaini Rings Market-Opening Bell to Celebrate Listing ‘Islamic Treasury Sukuk’ on Nasdaq Dubai

Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, rang the market-opening bell to celebrate and mark listing the domestic Dirhams Islamic Treasury Sukuk (T-Sukuk) on Nasdaq Dubai.

The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced launching dirham-denominated Islamic Treasury Sukuk (T-Sukuk), with a benchmark auction size of AED1.1 billion.

The launching of Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) includes a series of issuances, in order to attract a new category of investors and support the sustainability of economic growth.

Total issuance of AED1.1 billion

The issuance of T-Sukuk is aimed at enhancing the UAE’s economic competitiveness by providing high-quality Islamic assets at competitive prices. This will support the Central Bank of the UAE in managing liquidity within the banking sector and boosts the size of financial investments, which will reflect positively on the country’s economy, investment environment, per capita income, and gross national income.

The bell-ringing ceremony was attended by a number of senior officials from the Ministry of Finance, Central Bank of the UAE, Nasdaq Dubai, and the CEOs of the eight banks that were onboarded as primary dealers, in addition to other senior officials from various relevant authorities.

The inaugural issuance of the Dirham-denominated Islamic Treasury Sukuk programme witnessed a strong demand through the eight primary bank dealers, with bids received worth AED8.3 billion, and an oversubscription by 7.6 times.

The strong demand was across both tranches, with a final allocation of AED550 million for the two-year tranche, and AED550 million for the three-year tranche, with a total issuance of AED1.1 billion. Other tranches of Islamic Treasury Sukuk will be issued with various tenures of up to five years initially, followed by a 10-year sukuk at a later date.

Reaffirming UAE’s position in Islamic economy

Al Hussaini noted that issuing the T-Sukuk contributes to expanding the scope of Islamic banking and is one of the most important tools for managing monetary policy and liquidity to finance development programmes and projects.

The T-Sukuks are Sharia-compliant financial certificates for trading in the secondary market along with the main distributors, reflecting the current return on investment. These sukuk will also contribute to stimulating the securities market and strengthening the base of Islamic securities, providing safe and rewarding investment alternatives, and attracting new segments of local and international investors.

He emphasised that the success of the first auction is another testament to the UAE’s creditworthiness as one of the most advanced and competitive economies in the world, reaffirming its position as a leading investment hub in the field of the Islamic economy.

Al Hussaini said, “The issuance of Islamic Treasury Sukuk is a new step towards achieving the comprehensive and sustainable economic and social development objectives of the UAE. It contributes to the development of the financial market and the investment environment in the country by attracting financial investments and rejuvenating the local financial and banking sector to diversify funding sources, which cements the UAE’s position as a global hub for the Islamic economy.”

Efficiency of UAE’s financial sector

Khaled Mohamed Balama, Governor of the Central Bank of the UAE, said, “The T-Sukuk programme’s first issuance, denominated in UAE Dirhams, reinforces the UAE’s competitive position as a developed global financial centre.

The programme has succeeded in diversifying financial markets activities, enhancing infrastructure to support Sharia-compliant investment options and alternatives, and strengthening the resilience and stability of the financial system. This milestone will also support in bolstering financial investments and promoting greater confidence among local and international investors in the UAE’s financial system, leading to further strategic growth across the sector and fortifying the UAE’s role in the global Islamic economy.”

He added, “The remarkable success of the first auction for the issuance of T-Sukuk denominated in UAE Dirhams is a testament to the soundness of the financial and economic policies, the robust creditworthiness, and the efficiency of the UAE’s financial sector. It also supports the UAE’s stimulating investment environment globally to diversify investment and financial alternatives and continue sustainable growth underpinned by future visions and plans. We are pleased to have partnered with the Ministry of Finance in enhancing the UAE’s financial markets and improving the investment environment in the country.”

Dubai as global centre for Sukuk listings

Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, said, “The issuance of the T-Sukuk is an important development for the UAE capital markets attracting diversified investment categories to the country and providing an important investment tool for Islamic banking. The listing today further strengthens Dubai’s position as one of the largest centres for Sukuk listings globally with US$77.67 billion total value of Sukuk listed in Dubai.

This opens the path for regional and international investors to strengthen their links with the UAE government as well as to expand their investment options in the UAE. At Nasdaq Dubai, our mission supports the UAE Central Bank’s ambitious strategy to develop a strong fixed-income market in the UAE by providing investors with investment opportunities in sovereign issuances and a more effective yield curve gauge in debt instruments.”

The Ministry of Finance onboarded eight banks, namely Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank (DIB), Abu Dhabi Commercial Bank PJSC (ADCB), Emirates NBD, First Abu Dhabi Bank (FAB), HSBC, Mashreq, and Standard Chartered as Primary Dealers to participate in the T-Sukuk primary market auction and to actively develop the secondary market.

source/content: wam.ae (headline edited)

_________

___________________________________________

DUBAI, UNITED ARAB EMIRATES (U.A.E)

TUNISIA: Hedi Nouira: The Architect of Tunisia’s Economic Renewal in Post-Independence

Hedi Amara Nouira was born in Monastir in April 1911 and was trained as a lawyer. In 1934, he assisted Habib Bourguiba establish the Neo-Destour Party, a radical branch of the nationalist Destour Party. In the 1950s, the party campaigned for independence, and Nouira served as its representative in Paris.

After the country gained independence from France in March 1956, he served as Finance Minister and was the first governor of Tunisia’s central bank.

Back then, the newly independent country’s lawmakers appointed Bourguiba prime minister, and he became president after the monarchy was officially abolished the following year. He ruled as a monarch for three decades, securing a 1974 revision of the Constitution that made him president for life and confirmed Nouira as his chosen successor.

Throughout the 1970s, as Habib Bourguiba’s health and mental capacity worsened, he progressively assumed control of the country’s daily operations. Considered the architect of Tunisia’s economic renewal in the 1960s, Nouira was criticized in the 1970s by workers for the government’s harsh labor policies and attacks on labor union headquarters.

During his tenure, the economy thrived, and double-digit growth was achieved, which validated him in his roles and kept him in the prime minister’s office for ten years.

Hédi Nouira was an expert in both international history and modern economics. He had a thorough understanding of the territory and the Tunisians, the vast majority of whom desired central rule and resisted any form of excess. He wanted Tunisia to become the Singapore of Africa. He knew how to build his credibility, his authority, and his leadership. He was rationally liberal, socially-minded, pragmatic, and realistic in his perspective.

He restored confidence in the coutnry economy by his speeches, way of action, and personal commitment. State, employers, and UGTT initiate a session of social discussions every three years in order to provide greater visibility and less uncertainty for businesses and ensure social peace. Salaries and productivity go hand in hand. That was the policy.

Hédi Nouira knew where to lead the country and how to lead reform. He said what he did and did what he said, despite the danger of alienating strong supporters of social and economic progress. It revived the economy in so few years and put it on an Asian-style growth orbit, with yearly growth peaks exceeding 17%. His ten years in office will be remembered as the “ten glorious ones” in the country’s history. He rebuilt the state’s coffers and created more jobs and income than in the previous decade. He sought to bring Tunisia to the top of Africa. This ambition inspired the birth of the Tunisian dream.

After El Hedi Nouira’s stroke in February 1980, he was replaced by then-Education Minister Mohammed Mzali, who practically became the President’s heir apparent. In November 1987, however, Interior Minister Zine al-Abidine Ben Ali overthrew Bourguiba in a coup and claimed the presidency.

source/content: carthagemagazine.com (headline edited)

__________

___________

TUNISIA

EGYPT: Squash: Sherbini and Farag Claim PSA World Championship Titles in Chicago

Egyptian duo Nour El Sherbini and Ali Farag retained their respective world titles in Chicago with straight-game wins over Nouran Gohar and Karim Abdel-Gawad early on Friday.

World No.1 Sherbini needed 38 minutes to beat Nouran Gohar 3-0 (11-6, 11-4, 12-10) and clinch her seventh World Championship title.

“I am over the moon to win my seventh World Championship,” El Sherbini was quoted as saying on PSA World Tour after the game.

The 27-year-old El Sherbini was in superb form in Chicago, winning her third World Championship title. She is now just one short of the current women’s record of eight, held by Malaysian legend Nicol David.

Her streak of five women’s World Championship titles in a row is matched only by David.

“It is huge and special for me and I cannot believe I did it, I am so happy,” the Egyptian squash star said.

I am happy that I am closer to Nicol’s [David] record. She is a legend and what she did was amazing and unbelievable,” El-Sherbini said, adding “I have always been looking up to her, so to put my name beside her is something special and huge for me.”

The men’s final saw World No.4 Ali Farag become the second Egyptian ever after Amr Shabana to win four men’s World Championship trophies.

The 31-year-old Farag needed 44 minutes to beat Karim Abdel Gawad 3-0 (12-10, 11-6, 11-6).

“The emotions are so raw, it is so hard to put it into words,” Farag said. “It is so special. No matter how many times you go through it, it is even more special than the time before. Especially against such a champion like Karim, I am super relieved and super happy,” he added.

“Two months ago, we played a practice match and we were limping, and the standard would not have even earned us a place in the World Championship, let alone the final. To come all the way through to reach the final is a very proud achievement for the two of us.”

Farag – like El Sherbini before him – has now won all three World Championships held in Chicago.

The PSA World Championships is the most prestigious tournament in squash, with $1,000,000 in total player compensation split equally between the male and female athletes.

source/content: english.ahram.org.eg (headline edited)

__________

pix: worldsquashchamps.com

_________

EGYPT

TUNISIA: Phoenix Mecano Elcom Wins Tunisian Kaizen Award

“Phoenix Mecano Elcom,” a Tunisian company specializing in the manufacture and assembly of electromechanical components has just won the Tunisian Kaizen Prize in the “large-Scale Business” category.

The Kaizen prize, awarded at a ceremony in Tunis on Wednesday, is an initiative organized by the Ministry of Industry, Mines and Energy and the Japan International Cooperation Agency (JICA).

Its aim is to reward Tunisian companies operating in the industrial or industry-related services sector that have distinguished themselves through exemplary implementation of the “Kaizen” approach, a concept that promotes a culture of continuous learning, integration and innovation.

“Phoenix Mecano Elcom had already won the African Kaizen Award last October in Yaoundé, Cameroon.

In the large-scale businesses category, international manufacturing company Asteel Flash and the Arab Society for Pharmaceutical Industries (SAIPH) also won awards.

Plastic packaging company Azur Pack also received an award in the Small and Medium Businesses category.

During the ceremony, the Minister of Industry, Neila Gongi, said that there was potential for improvement through the spread of Kaizen in Tunisia.

For his part, the Resident Representative of the JICA Office in Tunisia, Shunei Ueno, stressed that, more than a year after the end of the “Quality and Productivity Improvement Project” in December 2002, this second edition of the Tunisian Kaizen Awards “testifies to the continuity of the momentum of the dissemination of the Kaizen concept in Tunisia, which was initiated within the framework of this project”.

The Kaizen concept offers a systematic approach to improvement that results in cost reduction, improved quality and productivity, and shorter delivery times, JICA said. In 2006, Tunisia became the first country in Africa where JICA introduced the Kaizen approach.

source/content: africanmanager.com (headline edited)

__________

___________

TUNISIA