PKV Games: The Impact of Technology on the Gaming Experience

Published

3 weeks ago

November 20, 2023

Welcome to PKV Games’ immersive universe, where cutting-edge technology and the excitement of gaming collide. We explore the dynamic world of PKV Games in this investigation to learn what makes them unique and how technology has transformed the gaming experience.

Recognizing PKV Games

A wide range of online multiplayer games, including card games like poker and other well-known games like dominoes and bandarq, are together referred to as “PKV Games.” These games, which are usually hosted on PKV platforms, give users the opportunity to compete against one another in real time, fostering an exciting and competitive gaming environment.

Absolutely, here’s an introductory section that covers the topics of understanding PKV Games and the intersection of technology and gaming:

Understanding PKV Games

PKV Games refer to a diverse array of online multiplayer games that encompass various genres, from card games like poker to other popular games like dominoes and bandarq. These games are typically hosted on PKV platforms, offering players a chance to compete against others in real-time, creating a vibrant and competitive gaming atmosphere.

The Intersection of Technology and Gaming

The way we enjoy entertainment has been revolutionized by the combination of technology and gaming. Technology serves as the foundation for PKV Games, improving every facet of the game experience. The excitement and engagement levels of gamers worldwide are constantly increased by technology breakthroughs, which range from interactive interfaces to flawless gameplay mechanics Gallery Dept 2 Piece Sets .

Chapter 1: Evolution of Technology in PKV Gaming

Technology in PKV Gaming

Historical Overview of PKV Gaming Technology

PKV gaming has undergone a fascinating journey intertwined with technological advancements. Initially, these games were fairly basic, often limited to simple graphics and gameplay. Early versions relied on rudimentary technology, offering limited interactivity and visual appeal. These games were primarily desktop-based and lacked the immersive experiences we see today.

Technological Advancements Shaping the Gaming Landscape

The evolution of PKV gaming owes much to various technological breakthroughs. Graphics processing units (GPUs) and central processing units (CPUs) became more potent, enabling developers to create visually stunning and intricate game environments. Additionally, the expansion of internet capabilities led to the rise of online PKV gaming, connecting players worldwide in real-time gameplay.

Chapter 3: Mobile Gaming and PKV Platforms

Rise of Mobile Gaming in the PKV Industry

Mobile gaming has taken the PKV (Player vs. Player) industry by storm, transforming the way players engage with their favorite games. The convenience and accessibility offered by smartphones and tablets have fueled this surge in popularity. Now, PKV games are not restricted to desktops or consoles; they’re at your fingertips, anytime, anywhere.

Rise of Mobile Gaming in the PKV Industry

Accessibility and Convenience

One of the main drivers behind the rise of mobile PKV gaming is accessibility. With mobile devices, players can indulge in their favorite games on-the-go. Whether you’re commuting, waiting in line, or relaxing at home, your mobile device turns into a portal for PKV gaming, offering unparalleled convenience.

Expanding Player Base

The adoption of mobile PKV platforms has significantly expanded the player base. It’s no longer limited to dedicated gamers; now, casual players find themselves immersed in PKV games, drawn by the ease of access and the thrill of competitive gameplay.

Evolving Gaming Experience

Mobile technology continues to evolve, enhancing the gaming experience. With advancements in graphics, processing power, and user interfaces, mobile PKV games rival their desktop counterparts, delivering immersive gameplay and engaging visuals.

Advantages and Limitations of Mobile PKV Gaming

Mobile PKV

Advantages

1. Accessibility and Flexibility

Mobile PKV gaming offers unparalleled accessibility, allowing players to engage in gaming sessions whenever and wherever they desire. The flexibility to play on the go caters to varied lifestyles.

2. Casual and Competitive Play

It caters to both casual and competitive players. Casual gamers appreciate the quick, pick-up-and-play nature, while competitive gamers find themselves engaged in high-stakes matches, often challenging opponents worldwide.

3. Social Integration

Mobile PKV platforms often integrate social features, allowing players to connect with friends, join communities, and compete against each other, fostering a sense of camaraderie and competition.

Limitations

1. Screen Size and Controls

The smaller screen size of mobile devices may limit the gaming experience, especially for intricate games that demand precise controls or extensive visual details.

2. Battery Life and Performance

Some PKV games can be resource-intensive, impacting device battery life and overall performance. This can be a drawback, especially during longer gaming sessions.

3. Connectivity Issues

Reliance on internet connectivity might pose challenges in areas with poor network coverage, leading to potential interruptions during gameplay.

Expanding Player Base

Evolving Gaming Experience

Chapter 4: Impact of AI and Machine Learning

Machine Learning

AI’s Influence on PKV Game Development

Artificial Intelligence (AI) has revolutionized the landscape of PKV games, significantly impacting their development and gameplay experiences. In the realm of PKV gaming, AI isn’t just a buzzword; it’s a fundamental game-changer.

Personalized Gaming Experiences

One of the most striking ways AI influences PKV games is by tailoring experiences to individual players. AI algorithms analyze player behavior, preferences, and gaming patterns, allowing games to adapt and offer a more personalized and engaging experience. From suggesting suitable games to customizing in-game challenges, AI enhances the gaming journey by making it more attuned to the player’s tastes.

Intelligent NPCs and Opponents

AI enables the creation of non-playable characters (NPCs) and opponents that exhibit realistic behavior and adaptability. These intelligent characters can learn from player actions, adjust strategies, and provide a more challenging yet enjoyable gaming experience. Whether it’s a poker opponent adapting to your betting patterns or an NPC in an adventure game responding dynamically to your choices, AI makes interactions within PKV games more lifelike and engaging.

Enhancing User Experience through Machine Learning

Predictive Analytics for Player Engagement

Machine Learning, a subset of AI, is leveraged in PKV games to predict player behavior and engagement patterns. By analyzing vast amounts of data, machine learning algorithms can anticipate player preferences, potential churn rates, and even foresee trends in gaming habits. This allows game developers to proactively enhance user experiences, offer tailored promotions, and optimize gameplay mechanics to keep players engaged.

Real-time Adaptation and Dynamic Content

Machine Learning algorithms continuously learn from player interactions, allowing PKV games to evolve in real time. This capability enables dynamic content generation, such as personalized quests, level difficulty adjustments, or even modifying in-game environments based on individual player styles. This adaptability ensures that the gaming experience remains fresh, challenging, and enjoyable for players.

Chapter 5: Blockchain and PKV Games

Blockchain and PKV Games

Understanding Blockchain’s Role in PKV Gaming

Blockchain technology functions similarly to a digital ledger, securely and openly recording transactions. Blockchain transforms player versus player games (PKV). It guarantees fairness and aids in the management of in-game purchases and assets.

What’s Special About Blockchain in PKV Games?

Transparency: Every transaction is recorded on the blockchain, making it visible to everyone. This transparency ensures fairness and prevents cheating.
Security: Blockchain uses strong encryption, making it extremely hard for hackers to tamper with game data or steal assets.

Security and Transparency in Blockchain-Powered PKV Platforms

Why Security Matters in PKV Gaming?

Asset Protection: In PKV games, your in-game items or currency are valuable. Blockchain secures these assets from being duplicated or stolen.
Fair Play: Blockchain ensures that game outcomes are fair. Nobody can change the rules or manipulate the game because everything is transparent and recorded.

How Blockchain Enhances Transparency?

Immutable Records: Once data is on the blockchain, it can’t be changed. This prevents fraud or disputes about who owns what in the game.
Openness: Everyone can see the rules and how the game works. This transparency builds trust between players and the game platform.

Chapter 6: Choosing the Right PKV Experience for You

Right PKV Experience

Factors to Consider When Selecting a PKV Platform

1. Game Selection and Variety

Evaluate the range of games offered on the platform. Are you looking for specific PKV games or a diverse selection? A platform with various options allows you to explore and find games that match your interests.

2. User Interface and Experience

An intuitive and user-friendly interface enhances your gaming pleasure. Consider platforms that offer easy navigation, clear instructions, and a visually appealing layout for an enjoyable experience.

3. Security and Reputation

Ensure the platform is reputable and maintains high-security standards. Look for certifications, user reviews, and information on their security protocols to safeguard your personal and financial data.

4. Bonuses and Rewards

Many PKV platforms offer bonuses and rewards. Check out the incentives provided, such as sign-up bonuses, loyalty programs, or special promotions, to maximize your gaming experience.

Personalized Gaming: Matching Technology with Preferences

1. Device Compatibility

Consider the devices you prefer for gaming—whether it’s a desktop, laptop, smartphone, or tablet. Ensure the platform is compatible with your chosen devices for a seamless gaming experience.

2. Gaming Preferences

Every player has unique gaming preferences. Some might enjoy fast-paced action, while others prefer strategic gameplay. Look for platforms that align with your preferred gaming style and offer games that match your interests.

3. Social Features

For those who enjoy interacting with other players, social features like chat options, multiplayer games, or community forums can enhance your gaming experience by fostering connections with fellow players.

4. Flexibility and Customization

Find platforms that offer flexibility and customization options. Whether it’s adjusting settings, customizing avatars, or choosing game modes, having control over your gaming experience adds to the enjoyment.

Conclusion

Choosing the perfect PKV gaming platform is a pivotal decision that can significantly impact your gaming enjoyment. By considering various factors such as game variety, user experience, security measures, and personal preferences, you can navigate the multitude of options available and find the ideal platform tailored to your needs

German software giant SAP steps up efforts to cut down

Published

10 mins ago

December 8, 2023

HABIB ABBASI

KARACHI: German software giant German software, SAP, is introducing green solutions, including green ledgers, to cut down carbon footprint in the Middle East and Pakistan region to ensure and foster sustainability, the SAP regional chief said on Thursday.

Based in Walldorf, SAP develops enterprise software to manage business operations and customer relations. It ranks among one of the world’s leading enterprise resource planning (ERP) software vendors and publicly traded software companies by revenue.

The German firm collaborates with organizations, governments, and non-government organizations (NGOs) on a global scale to drive sustainability initiatives aimed at raising awareness, sharing best practices, and developing innovative solutions to tackle environmental challenges.

German software

“SAP is doing its due role especially into the sustainability sector. When we talk about the Middle East region and the Pakistan region, we are coming up with clear green solutions, we are coming up with green ledgers, and climate-friendly solutions,” Saquib Ahmad, the SAP managing-director for Pakistan, Iraq and Afghanistan, told Arab News, on the sidelines of a media roundtable in Karachi.

Ahmad terming climate change was one of the major issues and his organization with global footprint was coming up with solutions that could help and improve lives of the people in Pakistan.

“I think it’s very important to understand that we are working with the Government of Pakistan, we are working with the private sector and trying to make and ensure that such solutions are getting implemented which can help the current climate target that we are looking at currently,” he added.

About the ongoing UN climate conference, COP28, in Dubai, the SAP regional chief said it was a very important factor that the conference was taking place in the region and making it visible “because climate change is hitting this region in a very, very important way.”

“I think we can already see the impacts that has floods, that has bang in Pakistan. We are also seeing overall forest fires. We are talking about overall quality index of the air and all this is impacting Pakistan,” Ahmad said, adding the top SAP leadership was also attending the ongoing COP28.

“We are talking about how this COP28 can help the Pakistan government and the people of Pakistan in better maintaining climate change that is hitting our lives on a day-to-day basis.”

Pakistan last year witnessed one of the deadliest monsoon floods, blamed on climate change, which killed more than 1,700 people, affected nearly 33 million and caused over $30 million losses. In recent years, the South Asian country has also experienced frequent forest fires in its northwestern and southwestern regions.

SAP works with the concept of ‘intelligent enterprise,’ wherein advanced technologies such as artificial intelligence (AI), Internet of Things (IoT) and analytics are harnessed to create more sustainable business models, according to the official.

These tools enable the German software giant to improve resource efficiency, reduce energy consumption and make informed decisions that contribute to sustainability.

Ahmad said technology enabled organizations to address gaps in physical infrastructure.

“It connects globally and ensures timely decisions to be implemented across the landscape,” he said. “Pakistan, being a developing economy, stands to gain strong competitiveness in the region through technological prowess, fostering connections and collaboration for positive environmental impact.”

ISLAMABAD: Pakistan’s election regulator will issue a schedule for the upcoming national elections “in few days,” its top official said on Thursday, as the South Asian country gears up for the February 8 polls.

Elections were originally expected to take place in November after Pakistan’s national and two provincial assemblies were dissolved in August before reaching the end of their tenure. However, Pakistan’s election regulator decided to redraw hundreds of national and provincial constituencies based on a digital census carried out in April before arranging the electoral contest.

The Election Commission of Pakistan (ECP) later scheduled the voting process for the last week of January, before announcing Feb. 8 as the final date after consultations with the country’s President Dr. Arif Alvi on the Supreme Court’s instructions.

In his message on Voters Day, Chief Election Commissioner (CEC) Sikandar Sultan Raja once again assured the masses that February 8 would be the polling day, dispelling speculation about further delay in the conduct of national elections.

“Election schedule will be issued in few days,” Raja said in a statement. “Polling [for the general election] will be held on February 8, 2024.”

As Pakistan gears up for the general elections, many analysts expect the polls to lead to the South Asian country to some stability after more than a year of political turmoil, following the ouster of ex-prime minister Imran Khan in a parliamentary no-trust vote in April 2022.

The CEC’s statement came a day after Caretaker Information Minister Murtaza Solangi said the federal cabinet did not have any “second thoughts” about holding the polls on February 8.

“The thing is, problems of security and the weather will always remain,” Solangi said in an interview. “But in the federal cabinet, there is no doubt, neither is there any worry nor any second thoughts that we would not hold elections on Feb. 8.”

Pakistan has seen a surge in militant attacks in its western regions bordering Afghanistan ever since a fragile truce between Islamabad and the Pakistani Taliban broke down in November 2022.

The Jamiat Ulama-e-Islam Pakistan (JUI-F), a prominent religious party, last month urged the ECP to delay polls till the security situation in the country improved.

Solangi said Pakistan had held elections in the past despite the threat of militancy, when the security situation was far worse.

“Maybe our memories are a bit weak,” he said. “What was the security situation in 2008 and 2013? If we compare it [to now] then it is nothing.

This week, the ECP also issued a directive for satellite television channels, warning them against airing speculative news about a delay in elections.

Reports suggested Sirajuddin Haqqani was issued Pakistani passport which he used to travel abroad, particularly to Qatar
Foreign office spokesperson acknowledges Pakistan has received ‘updated list’ of Afghans who are to be repatriated to US

ISLAMABAD: Pakistan’s foreign office on Thursday exercised caution in its response to media reports about Afghanistan interim interior minister Sirajuddin Haqqani’s use of the Pakistani passport for international travel in the past.

Haqqani was issued a Pakistani passport for five years which he used to travel abroad, particularly to Qatar for negotiations with the United States (US) for the Doha Agreement that resulted in the US exit from Afghanistan, Pakistan’s The News and Jang newspapers reported.

The reports, citing interior ministry officials, said these passports were issued from different cities of Pakistan’s Khyber Pakhtunkhwa, Balochistan, and Sindh provinces, and Pakistani authorities had arrested two officials in connection with issuance of passport to Haqqani, one of whom had retired from service.

Asked about these reports, Mumtaz Zahra Baloch, a spokesperson for the Pakistani foreign office, said she did not have “facts” to respond to the query.

“I have just seen the report in the Jang. I do not have the facts to respond to your question,” she said at a weekly press briefing. “Maybe I will be able to comment on some other occasion when I have more information.”

The name of Sirajuddin Haqqani, Afghanistan’s acting interior minister and the Taliban’s second-in-command, started echoing around the world in 2008 as a young commander of the most-feared Haqqani Network that was executing a series of deadly attacks on US-allied forces in Afghanistan.

The powerful Taliban commander made the headlines in March 2022 after he revealed his face in a rare public appearance in Kabul. He was attending the graduation ceremony of the first batch of police recruits at the National Defense Police Academy in Kabul since the Taliban took over the reins of Afghanistan in August 2021.

The reports about his travel on Pakistani passport come at a time of a series of visits to Pakistan by senior US officials, including Assistant Secretary for Population, Refugees, and Migration Julieta Valls Noyes, Special Representative on Afghanistan Thomas West, and Principal Deputy Assistant Secretary Elizabeth Horst.

These visits are part of ongoing dialogue with the US on a range of issues, including the situation in Afghanistan, according to the Pakistani foreign office.

The US has in the past accused Pakistan of backing the Afghan Taliban and not supporting Washington’s decades-long military campaign in Afghanistan the way the US wanted it to.

The allegations, denied by Islamabad, particularly soured ties between the two countries in 2021, following the hasty US exit from Afghanistan.

’Updated list’ of Afghan nationals to be repatriated to US

During the briefing, the foreign office spokesperson said Pakistan had received an “updated list” of Afghan nationals from the US and Islamabad was in touch with the US embassy for their repatriation to America.

“The meetings which are taking place today and have taken place in recent days are related to, yes, Afghanistan and Afghanistan related matters. There are some other bilateral aspects which may come up under discussion in coming days,” she said.

“With respect to the list that you have referred to, we have received an updated list from the US side and we are in contact with the American Embassy in developing the mechanics for the early repatriation of individuals on those lists to the United States.”

Pakistan has previously chosen to ignore individual calls from Western nations for the repatriation of Afghan nationals. This is the first time Islamabad has acknowledged having received a list of Afghans from a foreign country.

“We have already said that it is important that the process of verification and issuance of visas should be expedited and we hope that this process will be completed at the earliest,” Baloch said.

The development comes months after Islamabad asked all undocumented foreigners, mostly Afghans, to leave the country by Nov. 1, accusing that some of these Afghans had been involved in militant attacks and other offenses in Pakistan. Since the expiry of Nov. 1 deadline, Pakistan has launched a crackdown on all illegal foreigners and has been deporting them to their home countries.

Hundreds of thousands of Afghans have since left the South Asian country as Islamabad brushed aside calls from the United Nations (UN), Western embassies and rights groups to halt the deportations.

Pakistan exercises caution over reports of Afghan minister using its passport for international travel

Published

20 mins ago

December 8, 2023

HABIB ABBASI

Repo Foreign office spokesperson acknowledges Pakistan exercises Pakistan has received ‘updated list’ of Afghans who are to be repatriated to US

ISLAMABAD: Pakistan’s foreign Pakistan exercises office on Thursday exercised caution in its response to media reports about Afghanistan interim interior minister Sirajuddin Haqqani’s use of the Pakistani passport for international travel in the past.

Asked about these reports, Mumtaz Zahra Baloch, a spokesperson for the Pakistani foreign office, said she did not have “facts” to respond to the query.

These visits are part of ongoing dialogue with the US on a range of issues, including the situation in Afghanistan, according to the Pakistani foreign office.

The US has in the past accused Pakistan of backing the Afghan Taliban and not supporting Washington’s decades-long military campaign in Afghanistan the way the US wanted it to.

The allegations, denied by Islamabad, particularly soured ties between the two countries in 2021, following the hasty US exit from Afghanistan.

’Updated list’ of Afghan nationals to be repatriated to US

Hundreds of thousands of Afghans have since left the South Asian country as Islamabad brushed aside calls from the United Nations (UN), Western embassies and rights groups to halt the deportations.

Pakistan regulator to issue schedule for upcoming national elections ‘in few days’

“Election schedule will be issued in few days,” Raja said in a statement. “Polling [for the general election] will be held on February 8, 2024.”

The CEC’s statement came a day after Caretaker Information Minister Murtaza Solangi said the federal cabinet did not have any “second thoughts” about holding the polls on February 8.

Pakistan has seen a surge in militant attacks in its western regions bordering Afghanistan ever since a fragile truce between Islamabad and the Pakistani Taliban broke down in November 2022.

The Jamiat Ulama-e-Islam Pakistan (JUI-F), a prominent religious party, last month urged the ECP to delay polls till the security situation in the country improved.

Solangi said Pakistan had held elections in the past despite the threat of militancy, when the security situation was far worse.

“Maybe our memories are a bit weak,” he said. “What was the security situation in 2008 and 2013? If we compare it [to now] then it is nothing.

This week, the ECP also issued a directive for satellite television channels, warning them against airing speculative news about a delay in elections.

IMF board to meet on Jan. 11 for Pakistan loan program approval

Published

51 mins ago

December 8, 2023

HABIB ABBASI

The IMF last month said it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout If approved by its board, the global lender will release IMF board a tranche of $700 million to the cash-strapped South Asian nation

The executive board of the International Monetary Fund (IMF) will meet on Jan. 11 to consider the final approval to hand out to Pakistan the next $700 million tranche of its loan program.

Last month, the IMF said it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout, which will unlock $700 million in funding for the country.

The funds to be issued are a second tranche of the bailout, which is subject to an approval from the IMF’s executive board.

“We can confirm that the Board meeting for Pakistan will take place on January 11,” the IMF said in an emailed statement.

Pakistan has been facing an acute balance of payment crisis, with its foreign exchange reserves diminished, along with historically high inflation and an unprecedented currency devaluation.

Bloomberg News first reported on the IMF meeting.

Pakistani-Canadian horror flick ‘In Flames’ wins top award at Red Sea Film Festival

In Flames is Pakistan‘s submission to the Oscars‘ international feature category

Film has also played at festivals in Toronto, Busan, Sitges, Sao Paulo and Pingyao

ISLAMABAD: “In Flames,” Pakistan‘s submission to the Oscars‘ international feature category, has won the Golden Yusr for Best Feature Film at the 3rd edition of the Red Sea Film Festival, taking place in Jeddah from Nov. 30 to Dec. 9.

The gathering, which attracted Hollywood stars like Will Smith, Johnny Depp, Chris Hemsworth and Sharon Stone, on Thursday evening unveiled the winners of its Red Sea competition honors, the Yusr awards, as well as other prizes.

Pakistan-Canadian director and writer Zarrar Kahn said his indie movie was shot for “just $300,000 — the size of a Red Sea Fund production grant.”

“Everyone who gets a grant to go make a movie, because this was made for nothing,” he said.

Last month, In Flames won the International Newcomer Award at the 72nd International Film Festival Mannheim-Heidelberg. Earlier this year in May, the horror-drama became the second Pakistani film in 43 years to make it to Directors’ Fortnight, an event that runs parallel to the prestigious Cannes Film Festival. In October, the film was independently released at the Atrium Cinemas in Pakistan’s southern Karachi city for a 12-day run which was later extended until November 9. The film has also played at festivals in Toronto, Busan, Sitges, Sao Paulo and Pingyao.

In an interview to Arab News earlier this month, actor Bakhtawar Mazhar described In Flames as a psychological thriller that follows the struggle of a mother (Mazhar) and her daughter (Ramesha Nawal) after the loss of the patriarch of the family. The film has been produced by Anam Abbas.

“Even though this film was shot in Karachi, women around the world were crying [after watching the film] and they were like, we know the struggle this character went through, we know the struggle of Fariha and Mariam,” Nawal told Arab News.

“In Flames” is also Pakistan’s official submission under the Foreign Language Film category for the 96th Academy Awards next year.

‘Prudent decision,’ says Pakistan as Denmark passes law to ban Qur’an burnings

Foreign minister says hopeful other European countries follow suit, pass similar laws
Over 500 demonstrations that included Quran burnings registered since July in Denmark

ISLAMABAD: Pakistani Foreign Minister Jalil Abbas Jilani has said it was a “prudent decision” by Denmark’s parliament to pass a law this week making it illegal to burn the Qur’an in public places.

Denmark and Sweden experienced a series of public protests this year where anti-Islam activists burned or otherwise damaged copies of the Qur’an, triggering demands that the Nordic governments ban the practice. Over 500 demonstrations that included burnings of the Qur’an or flags have been registered since July, according to Denmark’s justice ministry.

“A prudent decision on the part of the Danish Parliament. Hope other European countries follow suit and pass similar legislation,” Jilani said on X on Thursday night, commenting on the new law. “Desecration of holy books of any faith is against the tenets of all religions, even under the guise of freedom of speech.”

Thursday’s vote on the law followed a five hour debate in parliament and 94 members voted in favour, 77 against.

Breaking the new law will be punishable by fines or up to two years in prison.

Denmark has sought to strike a balance between constitutionally protected freedom of speech, including the right to criticize religion, and national security amid fears that Qur’an burnings would trigger attacks by militants. But domestic critics in Sweden and Denmark have argued that any limitations on criticizing religion, including by burning Qur’an, undermine hard-fought liberal freedoms in the region.

Sweden is also considering how to prevent burning of the Qur’an but is looking at whether police should factor in national security when deciding on protest applications rather than a ban.

In Flames is Pakistan‘s submission to the Oscars‘ international feature category

Film has also played at festivals in Toronto, Busan, Sitges, Sao Paulo and Pingyao

Pakistan-Canadian director and writer Zarrar Kahn said his indie movie was shot for “just $300,000 — the size of a Red Sea Fund production grant.”

“Everyone who gets a grant to go make a movie, because this was made for nothing,” he said.

“In Flames” is also Pakistan’s official submission under the Foreign Language Film category for the 96th Academy Awards next year.

In a first, Pakistan unlocks Islamic bond market for retail investors with Ijarah Sukuk launch

Sukuk is an Islamic financial certificate that represents ownership in a tangible asset or a pool of assets
Pakistan plans to raise Rs90 billion in total from the stock market through three Ijarah Sukuk bond auctions

KARACHI: In a groundbreaking development, the Pakistani government on Friday unlocked the Islamic bond market for retail investors through an auction of the country’s first-ever sovereign Ijarah Sukuk bond at the Pakistan Stock Exchange (PSX), aiming to raise Rs30 billion ($105.8 million).

Sukuk is an Islamic financial certificate that represents ownership in a tangible asset or a pool of assets. It is similar to a bond but is structured in a way that complies with Islamic law, which prohibits interest-based transactions.

In connection with the launch of the first Ijarah Sukuk a ‘gong ceremony’ was held at the PSX in Karachi, which was attended by Caretaker Prime minister Anwaar-ul-Haq Kakar and Finace Minister Dr. Shamshad Akhtar.

“The auction gives PSX investors the chance to invest, contributing to a more diverse investor base,” said Shahid Ali Habib, chief executive officer (CEO) of the Karachi-based Arif Habib Limited brokerage house.

“The move also promises a substantial boost to the Islamic capital market in Pakistan.”

The tenure of the Ijarah Sukuk issued by Pakistan Domestic Sukuk Company Limited through the finance ministry is one year that will mature on December 09, 2024. The face value of a Sukuk is Rs5,000 ($17.6), according to a PSX document.

The bidding process for the auction of the Islamic bond will start at around 4pm today, on Friday, for which the process of registration had been completed. Joint financial and Shariah advisers for the issuance of the bond include Meezan Bank Limited, Dubai Islamic Bank (Pakistan) Limited, Bank Islami Pakistan Limited and Bank Alfalah Limited.

The federal government plans to raise an overall Rs90 billion ($315 million) with three Ijarah Sukuk auctions. The second auction is scheduled for January 23, 2024 and the third for February 20, 2024, according to the PSX auction calendar.

Habib said the issuance will help in developing Islamic capital market in the country and will encourage more investors to look for interest free avenues.

Experts also believe the auction has ended the monopoly of big banks who would earlier take part in the auctions.

“The Sukuk would now be in the access of common investor as compared to the past practice where only big banks or mutual fund would invest,” Ali Nawaz, CEO of Chase Securities, told Arab News.

Nawaz said investors now would be able to avail entire profit of their investment, without the involvement of any intermediaries.