Punjab Chief Minister Muhammad Shahbaz Sharif has said that the government will provide every possible facility to deserving students.Addressing a laptop distribution ceremony in Sialkot on Monday, he said so far over three hundred thousand laptops hav...

Doha - Qatar Islamic Bank (QIB) has received the 'Product Innovation Award' under the Islamic Finance category from Global Finance for the bank's efforts in introducing innovative Shariah-compliant products, including long-term deposits with flexible profit payment options.

The long-term deposits with flexible profit payment options and higher expected yields allow customers to choose how they want to receive the profit on their deposit � upfront profit payment, monthly, quarterly, or at maturity. QIB manages and invests the funds on Murabaha basis to realize the best profit, Gulf Times-News reported.

With the flexible profit payment options introduction, customers can decide which frequency matches their own financial and liquidity needs. Customers do not have to wait for long periods to start receiving profits and their liquidity requirements are met without the need to break a term deposit.

The tenors of the offered term deposits are one, two, three, and five years. Longer tenors have better-expected profit rates, and customers can get QIB financing for up to 90 percent of the deposit value at a competitive rate.

To improve the customer experience we offer; innovation is key; we're pleased that our commitment to product innovation has been recognized. Through market research, we are able to tailor our services to meet and even exceed our customers' expectations. We would like to thank our customers for their trust and loyalty to QIB.

Over the past few years, QIB has been investing in evolving the bank's products and services to meet the growing needs of all customers. The bank is improving the banking experience it offers, having completed the installation of a brand new core banking system last year and embarking on a new journey to further simplify and digitalise its services, said QIB Group CEO Bassel Gamal.

He added: We are pleased to be representing the Qatar banking industry in the innovator's award. This particular award is a testament to our excellent track record in delivering a high-quality banking experience as we continue to focus on offering innovative Islamic banking products and services to our customers.

The Global Finance magazine, headquartered in New York, is a reputable source for developments in the financial industry. Each year, Global Finance selects the best financial institutions around the world. These awards have become a recognized and trusted standard of excellence.

Global Finance magazine has announced The Innovators 2017, Islamic Finance, the publication's second annual listing of Shariah-compliant financial institutions and service providers that have fully recognised the critical importance of product and service innovation together with technology enhancement and investment.

QIB's profit grew by 12.8 percent reaching QR555mn for three months ending on March 31 compared to same period last year. QIB assets currently stand at QR143.3bn having grown by 9.1 percent on a year-on-year basis. Financing activities have reached QR99.5bn, up 9.3 percent compared to March 2016. Total Income reached QR1.4bn compared to a total income of QR1.2bn during the same period of last year registering a growth of 16.3 percent.

The bank has been recognized by the industry, receiving multiple awards from highly-reputable entities. Recently, QIB won the 'Best Islamic Financial Institution in Qatar and the GCC' award from Global Finance, cementing its position as a leading Islamic bank in Qatar and a major player in the regional Islamic banking sector.

Source: International Islamic News Agency

WASHINGTON �

Recent cross-border attacks and disputes have strained Pakistan's ties with three of its four neighbors, which analysts say are challenging Islamabad's foreign policy strategy.

Tehran on Monday warned Islamabad that it would hit bases inside Pakistan if the government does not confront Sunni militants who carry out cross-border attacks. Ten Iranian border guards were killed and one abducted by militants last month in the southeastern province of Sistan-Balouchestan, which borders Pakistan.

We expect the Pakistani officials to control the borders, arrest the terrorists and shut down their bases. said Major Gen. Mohammad Baqeri. The head of the Iranian armed forces was quoted by state news agency IRNA.

Iran, which shares nearly 1,000-kilometer (over 600 miles) border with Pakistan, alleges that anti-state militants use Pakistani soil for plotting terrorist attacks against Iran. Pakistan's western and eastern neighbors, Afghanistan and India, have long accused Islamabad of harboring and supporting militant groups that carry out attacks across shared borders.

Border clashes between Pakistan and Afghanistan killed at least 13 people and wounded more than 80 others Friday when Pakistani authorities attempted to conduct a census in disputed villages.

Skirmishes lead to strained relations

Frequent skirmishes with Indian forces and militant infiltration across the Line of Control with India have kept ties strained between the two countries. New Delhi has accused Pakistan-based religious groups of supporting militancy in Indian Kashmir.

The United States has pressed Islamabad to do more to crack down on militant groups that operate from its soil. U.S. President Donald Trump's national security adviser, H.R. McMaster called on Pakistani leaders during a trip to Kabul last month to go after militant groups on their soil less selectively than they have in the past.

Pakistan rejects the allegations of employing proxies from its soil, saying Pakistan itself is a victim of state sponsored terrorism.

Pakistan's foreign office would not officially comment Monday on the Iranian warning to launch attacks against terrorist's hideouts in Pakistan, but Pakistani officials say Islamabad has good ties with Iran.

Our relationships with Iran are improving; not only economic ties but we are also moving toward a close cooperation on security issues, Awais Ahmad Leghari, chairman of the Senate committee foreign affairs, told VOA.

Political and economic impact

But analysts say the failure of Pakistan's government to stop Pakistan-based militant groups from launching attacks against its neighbors is straining political and economic ties.

Whatever is happening on the border between Pakistan and Afghanistan, as well as on the borders with India and Iran, is in fact a major challenge for Pakistan's foreign policy, said Rashid Ahmad, a professor of international studies at Punjab University.

The situation is delicate and dangerous, he said, adding that Islamabad's relations with its neighbors have worsened in the last four years.

Pakistan is in an unenviable position now in that it faces major security challenges on three of its borders, Michael Kugelman, a Pakistani affairs specialist at the Woodrow Wilson Center in Washington, told VOA.

A common theme

Though the roots of these challenges are all very complex, there's one single theme that animates all of these border disputes: allegations of Pakistani support for militants on its soil that stage cross-border attacks," he said.

Analysts say the growing tensions not only strain political harmony but also hinder economic and commercial prospects in the region.

"If Pakistan's relations with its neighbors remain tense then its focus will be on security not the economy, Talat Masood, a defense analyst told VOA.

Pakistani authorities in mid-February closed all border crossings with Afghanistan for over a month after a string of suicide bombings in Pakistan. The protracted border closure cost businesses on both sides tens of millions of dollars and fueled bilateral tensions.

Source: Voice of America