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The Ultimate Guide to Commercial Loan Calculators

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Commercial Loan Calculators

Knowing About Commercial Loans

commercial loan calculator For companies of all sizes, commercial loans are an essential financial instrument. They offer the money required to finance business expansion, real estate acquisition, equipment purchases, and other critical necessities. Commercial loans can assist you in achieving your objectives, regardless of your company size—small startup or well-established multinational. For your business to succeed, though, obtaining the appropriate financing and being aware of its financial ramifications are essential.

Commercial Loan Types

Let’s examine the different kinds of business loans that are accessible before delving into the world of commercial loan calculators:

Loans for real estate: These loans can be used to buy, refinance, or remodel commercial real estate, including stores, warehouses, and office buildings.

Equipment Financing: This kind of loan assists companies in obtaining the tools and machinery they need to improve their operations.

Working capital loans: Designed to meet regular operating costs, working capital loans make sure your company has the cash flow it needs.

Construction Loans: These loans might give you the money you need to start a construction project if you’re starting one.

Why a Commercial Loan Calculator Is Necessar

Anyone contemplating a commercial loan will find a commercial loan calculator to be an extremely useful tool. It gives you precise estimations of the financial components of your possible loan, enabling you to make well-informed decisions. This is the reason it’s crucial:

1. Financial Clarity

A commercial loan calculator gives you a clear picture of your loan’s financial impact. You can calculate your monthly payments, interest rates, and total loan costs. This transparency helps you plan your budget effectively.

2. Loan Comparison

If you’re unsure about the type of commercial loan that suits your needs, a calculator can help. By inputting different loan parameters, you can compare the financial implications of each option and choose the one that best aligns with your goals.

3. Time-Saving

Calculating loan details manually can be time-consuming and prone to errors. A commercial loan calculator automates the process, providing you with results instantly. This efficiency is crucial in a fast-paced business environment.

4. Informed Decision-Making

By using a commercial loan calculator, you’ll be in a position to make informed decisions that benefit your business in the long run. You can evaluate different scenarios, adjusting variables until you find the optimal solution.

How to Use a Commercial Loan Calculator

Interest Only Commercial Loan Calculator | CREFCOA

Now that you understand the significance of commercial loan calculators, let’s walk you through how to use one effectively. We’ll take you through the essential steps to ensure you get the most out of this valuable tool.

1. Gather Loan Details

Before using a commercial loan calculator, you’ll need to gather essential loan details. These include the loan amount, interest rate, loan term, and any additional fees. The more accurate your data, the more precise your calculations will be.

2. Choose the Right Calculator

There are various types of commercial loan calculators available online, each tailored to specific loan types. Make sure to choose a calculator that aligns with your loan requirements.

3. Input Your Data

Once you’ve selected the appropriate calculator, enter your loan details. The calculator will require information such as the loan amount, interest rate, loan term, and any extra fees or payments.

4. Analyze the Results

After entering the data, the commercial loan calculator will generate important information. Pay attention to your monthly payments, total interest costs, and the overall cost of the loan.

5. Compare Scenarios

One of the advantages of using a commercial loan calculator is the ability to compare different scenarios. You can adjust the loan term, interest rate, or loan amount to see how these changes impact your financial outlook.

The Benefits of Using a Commercial Loan Calculator

Commercial Mortgage Calculator

Let’s delve deeper into the advantages of using a commercial loan calculator:

1. Accuracy and Precision

Commercial loan calculators are designed to provide accurate and precise calculations. With the ability to consider complex factors like compounding interest and fees, they ensure that your financial projections are as close to reality as possible.

2. Scenario Analysis

Business financial planning often involves examining multiple scenarios. A commercial loan calculator allows you to analyze different “what-if” situations. You can see how changes in interest rates, loan terms, or the loan amount affect your financial outlook. This capability is invaluable for strategic decision-making.

3. Time-Saving

In the fast-paced world of business, time is a valuable resource. Manually calculating the intricate details of a commercial loan can be both time-consuming and prone to errors. Commercial loan calculators provide instant results, saving you precious time.

4. Informed Negotiations

When you approach lenders or financial institutions, being armed with accurate financial data gives you a powerful advantage. You can negotiate loan terms with confidence, knowing exactly what you can afford and what’s reasonable for your business.

5. Financial Transparency

Transparency is crucial when dealing with commercial loans. A commercial loan calculator ensures you understand every aspect of your loan, from interest payments to the total cost over the loan term. This clarity enables you to budget effectively and manage your finances with confidence.

commercial loan calculator Types 

Commercial loan calculators come in various forms, each designed for specific purposes. Here are some common types:

1. Loan Payment Calculator: This calculator helps you determine your monthly loan payments, taking into account the loan amount, interest rate, and loan term. It’s perfect for understanding your immediate financial commitments.

2. Amortization Calculator: Amortization calculators provide a detailed schedule of your loan payments over time. They show you how much of each payment goes toward the principal and how much goes toward interest.

3. Interest-Only Calculator: If you’re considering an interest-only loan, this calculator is crucial. It shows you the monthly interest payments and the overall cost of the loan.

4. Loan Comparison Calculator: When you’re deciding between different loan options, this calculator allows you to compare and contrast their financial implications side by side.

Tips for Maximizing Your Commercial Loan Calculator

What Is Commercial Loan: Types, Eligibility, Benefits and Need

To get the most out of your commercial loan calculator, consider these tips:

1. Consult a Financial Advisor

While commercial loan calculators are invaluable, it’s always a good idea to consult a financial advisor. They can provide expert insights, ensure you’re using the right calculator for your needs, and help you interpret the results.

2. Regularly Review Your Financials

As your business evolves, your financial needs may change. Periodically review your financials and use the commercial loan calculator to reassess your loan options. This ensures that your financing remains aligned with your business goals.

3. Use It for Planning

Commercial loan calculators are not just for loan application purposes. You can use them for long-term financial planning. Project how your loan will impact your business in the years to come, and make strategic decisions accordingly.

4. Stay Informed

The financial world is dynamic, and interest rates and lending practices can change. Stay informed about market trends, and be prepared to adjust your financial strategies as needed.

commercial loan calculator In Conclusion

Securing a commercial loan is a significant step for your business, and it’s essential to approach it with confidence and the right tools. A commercial loan calculator provides you with the means to make informed decisions, ensure financial transparency, and save valuable time. By following the steps outlined in this guide, you’ll be well-equipped to navigate the world of commercial loans and make the best choices for your business’s future.

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German software giant SAP steps up efforts to cut down

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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

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.

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

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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.

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

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.

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

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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

‘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

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.

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

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.

 

 
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