The Impact of ICC World Cup on Global Cricketing Landscape

Published

3 weeks ago

November 17, 2023

Understanding the Prestige and Influence of the ICC World Cup

Cricket’s grandest stage, the ICC World Cup, stands as the pinnacle of cricketing excellence, revered by fans, players, and nations alike. Its significance transcends boundaries, captivating audiences worldwide and serving as the ultimate platform to showcase cricketing prowess. Cricket’s grandest stage, the ICC World Cup, stands as the pinnacle of cricketing excellence, revered by fans, players, and nations alike. Its significance transcends boundaries, captivating audiences worldwide and serving as the ultimate platform to showcase cricketing prowess.

Uniting Nations through Cricket

Cricket

One of the most compelling aspects of the ICC World Cup is its unique ability to unite nations, regardless of political, cultural, or geographical differences. For the duration of the tournament, the cricketing world comes together in celebration, fostering camaraderie among diverse populations, all cheering for their respective teams.

Catalyst for Global Cricketing Growth

The World Cup serves as a catalyst for the expansion and growth of cricket in both traditional and emerging markets. It amplifies the sport’s popularity, inspiring youngsters to take up the game and fueling the development of cricket infrastructure in various regions.

Evolution of the Tournament: From Inception to Present

The ICC World Cup has evolved significantly since its inception, tracing a remarkable journey of growth, innovation, and transformation. What started as a modest tournament has blossomed into a global phenomenon, shaping the way cricket is played, viewed, and celebrated.

Early Beginnings and Milestones

The inaugural tournament in 1975 marked the genesis of the ICC World Cup, introducing a new era in cricket. Over the years, the tournament has witnessed significant milestones, from format changes to the inclusion of more nations, reflecting the sport’s expanding horizons Caps by Good Morals.

Shifts in Format and Competition

The tournament’s format has undergone several adaptations to keep pace with the changing dynamics of the game. From the initial 60-over format to the current 50-over format, each iteration has brought its own charm, intensifying the competitive spirit among participating nations.

Broadening the Spectrum: Inclusion and Diversity

With time, the ICC World Cup has embraced diversity by including more teams, providing opportunities for cricketing nations to showcase their talent on a global stage. This inclusivity has enriched the tournament, fostering a sense of global participation and representation.

Historical Impact of ICC World Cup on Cricketing Nations

Cricketing Nations

Transformative Moments in Cricketing History Due to World Cup Victories

The ICC World Cup has been the stage for some of the most transformative moments in cricket history. Victories in this prestigious tournament have not just been about lifting a trophy; they’ve been about rewriting narratives and altering the course of cricket for nations.

West Indies Dominance and Cultural Influence

In the ’70s and ’80s, the West Indies team dominated the World Cup, not just with their exceptional cricketing prowess but also with their cultural influence. Their triumphs were symbolic, resonating beyond the cricketing field, uniting Caribbean nations and boosting a sense of pride and identity.

India’s 1983 Triumph: A Paradigm Shift

India’s unexpected win in the 1983 World Cup against the formidable West Indies was a watershed moment. It shifted the paradigm of Indian cricket, elevating the sport to a revered status in the country. It propelled a cricketing revolution, inspiring a nation and birthing a new era of cricketing legends.

Nations’ Rise to Prominence: How World Cup Performances Changed Cricketing Fortunes

The performances of nations in the ICC World Cup have been instrumental in reshaping their cricketing destinies. These tournaments have been the launchpad for smaller or less-established cricketing nations to rise to prominence.

Bangladesh’s Emergence and Cricketing Growth

Bangladesh, once considered a cricketing minnow, showcased remarkable growth following impressive performances in the World Cup. Their victories against established teams and consistent displays of talent propelled them into the cricketing limelight, solidifying their place in the global cricketing arena.

Afghanistan’s Remarkable Journey

Afghanistan’s journey from cricketing obscurity to World Cup participation has been nothing short of remarkable. Their determination, resilience, and impressive performances in the tournament paved the way for recognition and support, fostering the growth of cricket within the country.

Economic and Commercial Implications

Cricket, beyond its thrilling matches and passionate fanbase, has emerged as a significant player in the global sports economy. The ICC World Cup, in particular, serves as a catalyst for substantial economic and commercial developments within the cricketing landscape.

The Business of Cricket: Financial Impact of the ICC World Cup

The financial impact of the ICC World Cup extends far beyond the boundaries of the cricket field. Hosting the tournament involves massive investments in infrastructure, security, and promotion, injecting substantial funds into the local economy. The influx of international visitors, media coverage, and tourism during the event contributes significantly to the host nation’s GDP.

Moreover, the tournament itself generates substantial revenue through ticket sales, merchandise, and licensing agreements. The popularity of the ICC World Cup ensures that cricket boards and governing bodies benefit financially, allowing them to reinvest in the development of the sport at the grassroots level.

Sponsorship and Broadcast Deals: Driving Revenue in Global Cricket

One of the primary drivers of cricket’s economic engine during the ICC World Cup is the influx of sponsorship and broadcast deals. Global brands vie for the opportunity to associate themselves with cricket’s premier event, leveraging the tournament’s massive viewership and fan engagement.

Sponsorship deals with major corporations not only bring financial support but also elevate the visibility and marketability of the sport. Logos of sponsors emblazoned on team jerseys, stadium billboards, and promotional materials become ubiquitous during the tournament, creating a symbiotic relationship between cricket and corporate entities.

Cultural and Social Influence

Uniting Nations: ICC World Cup’s Role in Bridging Societal Divides

The ICC World Cup isn’t just about cricket; it’s a global celebration that brings people together across borders and cultures. In this section, we’ll delve into how this tournament serves as a powerful unifying force, transcending societal divides.

A Global Spectacle of Unity

The World Cup serves as a melting pot of cultures, where fans from diverse backgrounds gather to celebrate the spirit of cricket. Regardless of nationality, religion, or language, the love for the game unites millions worldwide.

Building Bridges Beyond Boundaries

Cricket has this incredible ability to break down barriers. The tournament sparks conversations, fosters friendships, and cultivates a sense of camaraderie among nations that might otherwise have political or social differences.

Sportsmanship and Mutual Respect

One of the most beautiful aspects of the World Cup is witnessing the display of sportsmanship and mutual respect among players and fans. Regardless of the competitive intensity, there’s an overarching sense of respect for opponents, promoting values that extend far beyond the boundaries.

Cricket’s Cultural Impact: The World Cup’s Influence on Local Communities

The World Cup isn’t just a sporting event; it’s an integral part of the cultural fabric of local communities where the matches take place. Let’s explore how this global tournament leaves a lasting impact on the societies and cultures it touches.

Celebrating Diversity and Traditions

When the World Cup arrives in a country, it becomes a platform to showcase its unique culture, traditions, and hospitality. From food festivals to cultural exchanges, the tournament becomes a celebration of diversity, welcoming fans with open arms.

Fostering Community Engagement

Local communities actively participate in the World Cup fervor, organizing events, decorating streets, and welcoming cricket enthusiasts from around the world. This engagement fosters a sense of pride and togetherness, leaving a legacy long after the tournament ends.

Inspiring the Next Generation

The World Cup ignites the passion for cricket in young minds, inspiring future generations to embrace the sport. It becomes a catalyst for nurturing talent, encouraging participation, and promoting healthy competition at the grassroots level.

Technological Evolution: How ICC World Cup Drives Innovation in Cricket

The ICC World Cup serves as a catalyst for groundbreaking advancements in cricket technology. It’s not just about the players on the field; it’s also about how technology has revolutionized the game.

1. Hawk-Eye Technology: Precision in Decision Making

One of the standout innovations is Hawk-Eye technology. This system provides accurate ball-tracking, aiding umpires in making crucial decisions on LBW appeals, boundaries, and the ball’s trajectory. It’s transformed the way we analyze the game and understand key moments, ensuring fairness in crucial judgments.

2. UltraEdge and Snickometer: Enhanced Review Systems

The introduction of UltraEdge and Snickometer has amplified the review system’s accuracy. It allows for detailed scrutiny of whether the ball made contact with the bat, providing more reliable insights for umpires during contentious moments.

3. Player Performance Analytics: Data-Driven Insights

The ICC World Cup has ushered in an era of data-driven analysis. Cutting-edge software tracks player performance, offering insights into batting, bowling, and fielding statistics. Teams use this data to fine-tune strategies and optimize player performance, making the game more tactical and dynamic.

Impact of Broadcasting Technologies on Viewer Experience

Beyond the field, the ICC World Cup has significantly transformed the viewer experience through broadcasting technologies.

1. High-Definition Broadcasting: Immersive Viewing

The transition to high-definition broadcasting has elevated the viewing experience for fans worldwide. Crystal-clear images and enhanced sound quality bring fans closer to the action, making it feel like they’re right there in the stadium.

2. Virtual and Augmented Reality: Interactive Engagement

Advancements in virtual and augmented reality have taken viewer engagement to new heights. Fans can now immerse themselves in interactive experiences, from 360-degree views of the stadium to real-time statistics and player insights, creating a more personalized and engaging connection with the game.

3. Social Media Integration: Global Interaction

The integration of social media platforms during broadcasts has connected fans globally. Real-time discussions, polls, and interactive features allow viewers to engage with fellow fans, players, and pundits, fostering a vibrant and inclusive cricket community.

Future Trends and Prospects

Cricket, like any dynamic sport, is always on the move. As the curtain falls on another enthralling ICC World Cup, the cricketing landscape gears up for an exciting evolution. The tournament’s conclusion often acts as a catalyst, propelling the sport toward new horizons and innovations.

The Changing Face of Cricket

Post-ICC World Cup, cricket undergoes a metamorphosis. With each tournament, the game witnesses tweaks and adjustments, both on and off the field. One of the anticipated shifts revolves around gameplay strategies. Teams, driven by their World Cup experiences, adapt and innovate, leading to fresh tactics and approaches.

Predictions and Speculations

Looking ahead, the ICC World Cup’s potential transformations excite cricket enthusiasts worldwide. Speculations abound regarding the format of future tournaments. Discussions about expanding the number of participating teams or altering the tournament structure to enhance competitiveness and inclusivity are gaining momentum.

Technological advancements are also expected to revolutionize cricket viewing. Augmented reality, virtual reality, and enhanced data analytics might redefine how audiences engage with the sport, providing a more immersive and informative experience.

Embracing Change and Opportunities Ahead

Adaptability is the cornerstone of cricket’s evolution. Embracing change paves the way for exciting opportunities. The post-ICC World Cup era heralds a period of innovation, where the sport evolves while retaining its essence and spirit.

Conclusion: Embracing the Lasting Influence of ICC World Cup

Reflecting on the journey through the impact of the ICC World Cup on global cricket, it’s evident that this tournament isn’t just about matches played on the field. It’s a cultural phenomenon that transcends boundaries, uniting people from diverse backgrounds under the common love for the sport.

The World Cup’s significance goes beyond the trophy lifts and match statistics. It’s about the stories that inspire generations, the moments that etch themselves into our memories, and the transformative power that shapes cricketing nations.

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German software giant SAP steps up efforts to cut down

Published

16 hours 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

16 hours 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

16 hours 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.