Connect with us

World

Sberbank to Buy 25% Stake in Muslim Charity Platform PayZakat

Published

on

Russian state-controlled lender Sberbank will buy 25% of PayZakat, an online platform that collects charity for Muslims in need, the bank announced on Tuesday, according to VC.ru.

Zakat is a form of alms-giving treated in Islam as a religious obligation or tax, which, by Quranic ranking, is next after prayer in importance. Global zakat collections reach $500 billion a year.

PayZakat allows its users to calculate the contribution amount, and channel it to the charity of their choice, with the help of chat bots integrated into the social networks, as well as to receive status updates on the contribution, Intellinews wrote.

Sberbank sees global and universal potential for PayZakat, the start-up that was the first winner of the bank’s corporate accelerator Sber#Up for its own employees.

Previously in 2017 the bank considered establishing an Islamic Finance unit and proposing regulatory changes that would make running sharia-compliant deals in Russia possible. There are about 20mn Muslims among Russian population of 145mn.

Sberbank is at the forefront of Russian digital development, having adopted an ambitious digitally-driven strategy and preparing to launch its Sber digital ecosystem in short- to medium-term. The bank was also the anchor organizer of a recent meeting with the President Vladimir Putin on AI development, which was paired with an establishment of a $2 billion AI investment fund by the Russian Direct Investment Fund (RDIF).

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Moscow Shrugs Off Calls of US Nominee for UN Ambassador to up Pressure on Russia

Published

on

Moscow is not paying attention to statements made by Kelly Craft, a candidate for the post of the US ambassador to the United Nations, that the pressure on Russia must be increased, Russian Deputy Foreign Minister Sergey Ryabkov said on Thursday.

“This is not surprising,” Ryabkov said. “Perhaps present-day Washington is not picking up other candidates for this post. But we are used to such signals and are not paying any attention to them.”

Speaking earlier in the week at the Senate Foreign Relations Committee’s session, Craft announced that Russia was not a friend for the United States and Washington would continue building up its pressure on Moscow.

Continue Reading

World

Kyrgyz Parliament Votes to Strip Former President of Immunity

Published

on

Kyrgyzstan’s parliament has upheld a parliamentary commission’s regulation stripping the country’s former President Almazbek Atambayev of immunity, a parliamentary source told TASS.

“The lawmakers have supported the special commission’s decision that ex-President Atambayev be stripped of immunity,” the source said, adding that 95 out of the 100 legislators present at the parliament meeting had voted in favor of the move, while five had voted against it.

However, according to the source, the president won’t be immediately stripped of immunity. “Under the law, the process will be completed only after the Prosecutor General’s Office issues a positive assessment on the matter and the lawmakers approve it, so there will be another vote,” the source pointed out.

The commission on stripping the former president of immunity, established on June 13, includes members of all six parliamentary factions. Parliament members are supposed to complete the process within three months, otherwise the accusations will be considered abandoned.

The former president is particularly suspected of being involved in corruption schemes related to the reconstruction of Bishkek’s thermal power plant and Historical Museum, the unlawful release of crime boss Aziz Batukayev and illegal deliveries of coal to Bishkek’s thermal power plants, as well as in reassigning plots of land in the country’s Issyk-Kul Region and illegally obtaining a plot of land to build a residential house in the Koi-Tash settlement, Chuy Region.

Atambayev served as Kyrgyz president in 2011-2017.

Continue Reading

World

Russia Welcomes Idea for Persian Gulf Countries to Sign Non-Aggression Pact

Published

on

Russia considers as interesting and productive Iran’s proposal for Persian Gulf countries to sign a non-aggression pact, Russian Deputy Foreign Minister Sergey Ryabkov said on Thursday.

“We have perceived with interest the recent proposal by Iranian Foreign Minister Mr. [Javad] Zarif that Persian Gulf countries should sign a non-aggression pact. This is also a productive idea,” the senior Russian diplomat said.

Zarif earlier stated that Tehran was seeking to establish balanced relations with Persian Gulf countries and was ready to sign a non-aggression pact with them.

Continue Reading

Files