The Power of Caps by Good Morals: A Guide to Ethical Leadership

Published

3 weeks ago

November 14, 2023

Introduction

Welcome to a journey exploring the profound connection between leadership, morality, and the symbolic power of “Caps by Good Morals.” In this introduction, we will delve into the core concepts that shape this exploration, offering a clear understanding of both the essence of “Caps by Good Morals” and the broader significance of ethical leadership.

Defining Caps by Good Morals

Caps by Good Morals

Caps, more than just accessories, become powerful symbols when adorned with the principles of good morals. In this section, we’ll unpack what exactly we mean by “Caps by Good Morals.” These aren’t just tangible items; they embody a commitment to ethical behavior, integrity, and a moral compass that guides actions and decisions. From the boardroom to everyday life, these caps serve as emblems of a deeper commitment to doing what is right.

The Significance of Ethical Leadership

Leadership is more than a title; it’s a responsibility to inspire, guide, and make decisions that impact others. Ethical leadership, a cornerstone in effective and sustainable leadership, goes beyond mere authority. It involves making choices that align with moral principles and contribute to the greater good. In this section, we’ll explore why ethical leadership is not just a desirable trait but a necessity in today’s complex and interconnected world.

Understanding Ethical Leadership

Ethical leadership is a powerful force that shapes the way individuals lead and organizations operate. In this section, we will delve into the key aspects of ethical leadership, exploring both the characteristics that define ethical leaders and the profound impact they have on the organizations they guide.

Characteristics of Ethical Leaders

Ethical leaders possess a distinct set of qualities that set them apart. These characteristics go beyond traditional leadership skills and speak to the moral compass that guides their decision-making. Some key attributes of ethical leaders include:

Integrity:

Ethical leaders consistently demonstrate honesty and transparency in their actions. They adhere to a strong set of principles and values, providing a trustworthy foundation for their leadership.

Empathy:

Understanding and compassion towards others are hallmarks of ethical leaders. They actively listen to the concerns of their team members and stakeholders, fostering a supportive and inclusive environment.

Accountability:

Ethical leaders take responsibility for their decisions and actions. In times of success or failure, they acknowledge their role and work towards continuous improvement.

Fairness:

Treating everyone with fairness and equity is crucial for ethical leaders. They strive to create a level playing field, ensuring that decisions are just and unbiased.

Courage:

Ethical leaders have the courage to stand up for what is right, even in the face of adversity. They are willing to make tough decisions that align with their ethical principles, even if it means going against the norm.

The Impact of Ethical Leadership on Organizations

The influence of ethical leadership extends far beyond individual behavior—it significantly shapes the culture and performance of organizations. Here’s how ethical leadership positively impacts the organizational landscape:

Enhanced Employee Morale:

When employees witness ethical behavior at the top, it fosters a positive work environment. This, in turn, boosts morale, job satisfaction, and a sense of purpose among the workforce.

Increased Trust and Credibility:

Ethical leaders build trust with both internal and external stakeholders. This trust is a valuable asset that enhances the organization’s credibility and reputation.

Improved Decision-Making:

Organizations led by ethical leaders tend to make more informed and sound decisions. Ethical considerations guide choices, leading to outcomes that align with long-term goals and values.

Greater Innovation and Collaboration:

Ethical leaders encourage a culture of openness and collaboration. This environment stimulates innovation, as employees feel empowered to share ideas without fear of repercussions.

Long-Term Organizational Sustainability:

Ethical leadership contributes to the long-term sustainability of organizations. By prioritizing ethical practices, leaders ensure the longevity and positive impact of the organization in its broader context.

The Role of Morality in Decision-Making

Morality in Decision-Making

In the realm of leadership, the choices we make are often influenced by our moral compass, guiding us toward actions aligned with ethical principles. This section delves into the profound impact of morality on decision-making, exploring how the symbolism of “Caps by Good Morals” plays a crucial role.

Caps as Symbols of Morality

Imagine a leader wearing a cap adorned with symbols that represent moral values such as integrity, honesty, and empathy. These caps serve as tangible reminders of the principles that guide our conduct. Just as a uniform signifies belonging to a particular group, these caps become emblems of a leader’s commitment to ethical behavior. They convey a message to both the leader and those around them: that morality is not just a concept but a lived experience.

The symbolism of these caps extends beyond personal values—it becomes a visual representation of the ethical culture within an organization. By embracing such symbols, leaders foster a shared commitment to a moral foundation, creating an environment where integrity is not just preached but embodied.

How Morality Influences Leadership Choices

Morality is a silent but powerful force shaping the decisions leaders make. It serves as a guidepost, helping leaders navigate through complex situations where choices may not always be black and white. When faced with ethical dilemmas, the values embedded in “Caps by Good Morals” prompt leaders to pause and reflect on the potential consequences of their decisions.

Leadership choices influenced by morality often prioritize long-term benefits over short-term gains. Whether it’s dealing with employee issues, making financial decisions, or addressing conflicts, a leader grounded in moral principles seeks solutions that align with values such as fairness and justice.

Building a Positive Workplace Culture

In the dynamic landscape of modern workplaces, the importance of fostering a positive culture cannot be overstated. This chapter delves into the role of Caps by Good Morals as cultural artifacts and explores practical strategies for nurturing morality within the workplace.

Caps by Good Morals as Cultural Artifacts

Good Morals

Imagine the workplace as a canvas, and Caps by Good Morals as the brushstrokes that create a culture of integrity and shared values. These symbolic caps serve as visual reminders of the ethical principles that guide the organization. From the leadership team to every employee, these caps become cultural artifacts, representing a commitment to honesty, respect, and responsibility.

Wearing Caps by Good Morals isn’t just about making a fashion statement; it’s a deliberate choice to contribute to a positive and ethical work environment. These caps become symbols that unite individuals under a common banner of morality, fostering a sense of belonging and shared purpose.

Fostering Morality in the Workplace

Fostering morality in the workplace goes beyond mere symbolism. It involves creating tangible initiatives and practices that encourage ethical behavior among employees. Here are some effective strategies:

Clear Ethical Guidelines:

Establishing and communicating clear ethical guidelines provides employees with a roadmap for moral conduct. These guidelines should be easily accessible, understandable, and aligned with the company’s values.

Leadership Modeling:

Leaders play a pivotal role in setting the moral tone of the workplace. When leaders consistently demonstrate ethical behavior and decision-making, they serve as role models for the entire team. This can inspire employees to emulate these moral standards in their own actions.

Open Communication:

Creating an environment where employees feel safe to voice ethical concerns is essential. Open communication channels, such as anonymous suggestion boxes or regular forums, allow individuals to express their thoughts without fear of retribution.

Training and Development:

Incorporating ethics training into employee onboarding and ongoing professional development programs reinforces the importance of morality in the workplace. This education equips employees with the knowledge and skills to navigate ethical dilemmas.

Chapter 5: Case Studies in Ethical Leadership

Ethical leadership is not just a theoretical concept but a practice that has shaped the success and failures of many leaders. In this chapter, we delve into real-life case studies, examining the moral practices of successful leaders and learning valuable lessons from leadership mistakes.

Examining Successful Leaders and Their Moral Practices

Successful leaders often share common traits that go beyond business acumen. This section explores the ethical dimensions of leadership through the lens of accomplished individuals. We’ll examine:

Authenticity in Leadership

Explore how authenticity, a key ethical principle, has contributed to the success of leaders. Real-world examples will illustrate how genuine leaders build trust and inspire others.

Transparency and Communication

Effective communication is a hallmark of ethical leadership. Case studies will highlight instances where leaders successfully navigated challenges by being transparent and fostering open communication.

Empathy in Decision-Making

Leadership is not just about making tough decisions; it’s about making compassionate decisions. We’ll look at how empathy has played a pivotal role in the success stories of ethical leaders.

Learning from Leadership Mistakes: The Consequences of Immorality

Mistakes are inevitable, but the consequences of unethical decisions can be profound. This section explores the flip side, learning from the missteps of leaders who faced the repercussions of immorality.

Case Studies on Ethical Lapses

We’ll examine real cases where leaders faltered ethically, exploring the impact on their careers and organizations. Understanding these lapses provides valuable insights into the pitfalls of immorality.

Rebuilding Trust and Redemption

Not all is lost after a moral failure. This section looks at leaders who faced the consequences of their actions, embarked on journeys of redemption, and successfully rebuilt trust.

Lessons for Future Leaders

The mistakes of the past serve as powerful lessons for aspiring leaders. We distill key takeaways, offering guidance on avoiding ethical pitfalls and maintaining integrity throughout one’s leadership journey.

Choosing the Right Cap: Personal Reflection

In this chapter, we’ll delve into the crucial process of choosing the right cap – not just a physical one, but the metaphorical cap that represents your personal and ethical leadership style. Let’s explore two key aspects: assessing your morals and values, and aligning your leadership style with ethical principles.

Assessing Your Morals and Values

Before you can effectively lead with good morals, it’s essential to take a close look at your own beliefs, principles, and values. Reflecting on your morals involves understanding what matters most to you on a fundamental level. Consider the following questions:

What principles guide your decision-making process?

Are there specific values that hold significant importance in your personal and professional life?

How do you handle ethical dilemmas or situations that challenge your values?

By honestly assessing your morals and values, you lay the foundation for ethical leadership. This self-awareness enables you to make conscious choices aligned with your core principles.

Aligning Leadership Style with Ethical Principles

Once you have a clear understanding of your morals and values, the next step is to align your leadership style with ethical principles. This involves evaluating how you lead, make decisions, and interact with others. Consider the following aspects:

How do you communicate and collaborate with your team?

Are your decisions driven by fairness, transparency, and honesty?

Do you actively promote a positive and inclusive work environment?

Aligning your leadership style with ethical principles requires intentional effort. It involves practicing integrity, demonstrating accountability, and fostering a culture of respect and trust within your team.

Implementing Ethical Leadership Strategies

In the ever-evolving landscape of leadership, the integration of morality is a crucial aspect of ethical leadership. Here, we explore practical tips for seamlessly incorporating morals into your leadership style and address common challenges faced in upholding ethical standards.

7.1 Practical Tips for Integrating Morality into Leadership

Tip 1: Lead by Example One of the most effective ways to instill morality in your team is by embodying ethical behavior yourself. Demonstrate the values you expect from your team members, creating a culture where integrity is paramount.

Tip 2: Establish Clear Ethical Guidelines Clearly define and communicate your organization’s ethical guidelines. Provide employees with a roadmap for making ethical decisions, fostering a shared understanding of what is expected in terms of moral conduct.

Tip 3: Encourage Open Communication Create an environment where team members feel comfortable discussing ethical concerns. Foster open communication channels to address questions or dilemmas, ensuring that ethical issues are surfaced and resolved transparently.

Tip 4: Regular Training and Development Invest in ongoing ethics training for your team. Keep them updated on ethical best practices, industry standards, and the latest developments in ethical leadership. Continuous learning reinforces the importance of morality in decision-making.

Tip 5: Recognize and Reward Ethical Behavior Publicly acknowledge and reward individuals who exemplify ethical behavior. By highlighting and celebrating acts of integrity, you reinforce the value of morality within your organization, motivating others to follow suit.

7.2 Overcoming Challenges in Upholding Ethical Standards

Challenge 1: Navigating Gray Areas Ethical dilemmas often involve navigating through ambiguous situations. Train your team to analyze complex situations, encouraging thoughtful consideration of moral implications and providing guidance on ethical decision-making.

Challenge 2: Handling Conflicts of Interest Develop a robust framework for identifying and managing conflicts of interest. Clearly communicate policies and procedures for handling situations where personal interests may clash with ethical responsibilities.

Challenge 3: Addressing Resistance to Change Resistance to ethical initiatives can pose a challenge. Effectively communicate the benefits of ethical leadership, emphasizing how it contributes to long-term success and the well-being of the organization, helping overcome resistance.

Challenge 4: Monitoring and Enforcement Establish mechanisms for monitoring and enforcing ethical standards. Regularly assess the implementation of ethical guidelines and address deviations promptly. Consistent enforcement ensures that ethical standards remain a priority.

Caps by Good Morals Beyond Leadership

In the journey of embracing caps adorned with good morals, the impact extends far beyond the realms of leadership. Let’s explore how these ethical principles permeate into everyday life and delve into the collective responsibility individuals bear in fostering a morally conscious society.

Extending Morality to Everyday Life

Wearing the cap of good morals is not confined to the boardroom or workplace—it’s a commitment that transcends professional boundaries. In our daily lives, the choices we make, the relationships we cultivate, and the values we uphold contribute to the fabric of our moral character.

In this section, we will discuss practical ways to integrate morality into your everyday routine. From small acts of kindness to making decisions aligned with your values, discover how wearing the cap of good morals can positively influence your personal life, relationships, and interactions with the world around you.

Collective Responsibility: The Role of Individuals in a Morally Conscious Society

While individual actions matter, the collective responsibility we share as members of society is equally crucial. As wearers of caps by good morals, we recognize the importance of contributing to the greater good. This involves not only adhering to ethical standards personally but also inspiring and encouraging others to do the same.

Explore the concept of collective responsibility and understand how individuals can play a pivotal role in shaping a morally conscious society. From promoting empathy and understanding to actively participating in community initiatives, discover the strength that lies in a community of individuals committed to shared ethical values.

Conclusion

In wrapping up our exploration of “The Power of Caps by Good Morals: A Guide to Ethical Leadership,” let’s take a moment to revisit the key principles of ethical leadership and consider how wearing the cap of good morals can inspire positive change.

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German software giant SAP steps up efforts to cut down

Published

5 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

5 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

6 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.