The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released a new book detailing applications of agent-based simulation in Islamic Finance.

Titled “Applications of Agent-Based Simulation in Islamic Finance”, the book is an edited collection of papers authored by students who graduated from the Islamic Financial Engineering Laboratory based in Rabat, Morocco. The Laboratory was established in 2013 by Mohammed V University in Rabat and the Islamic Development Bank (IsDB). Former heads of the Laboratory, Prof. Rajae Aboulaich and Prof. Mohamed Tkiouat, edited the new book.

The book explores the different aspects of Islamic finance and modeling, highlighting the importance of agent-based modeling and mathematical modeling in the context of Islamic finance. It also examines the growing role of fintech and its impact on financial inclusion within the Islamic framework.

The objective of the book is to provide an in-depth perspective of the theoretical foundations and practical applications of agent-based and mathematical modeling in the field of Islamic finance. By exploring the different models and approaches, the authors highlight the advantages and limitations of these methodologies while emphasizing their relevance for decision-making and risk management in the Islamic context.

Dr. Sami Al Suwailem, Acting Director General of IsDB Institute, said: “The book is a result of close collaboration between the professors and graduate students of the Lab and experts from the IsDBI. The support of the IsDB has helped IFE Lab students in the development of the modeling of complex problems and the structuring of innovative financial products using high-performance simulation approaches such as agent-based modeling, discussed in this book.”

Prof. Rajae Aboulaich, one of the book editors, said: “This book is the fruit of research carried out over the past eight years within the IFE Lab at Mohammed V University in Rabat. It presents selected research carried out as part of the theses produced within the IFE Lab. The book documents also some of the success stories of the IFE Lab, and so, we hope it will serve as a reference for future generations to lead the development of Islamic finance to the next level”.

The book is available for purchase on IsDB Institute’s website here (https://apo-opa.co/3ULvblu).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Media contact:
Habeeb Idris Pindiga
Associate Manager, Knowledge Horizons
Islamic Development Bank Institute (IsDBI)
Email: hpindiga@isdb.org

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About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org

Authorities across East and Southern Africa continued to impose severe restrictions on the right to freedom of expression and media freedom over the past year, said Amnesty International on World Press Freedom Day.

The human rights organization documented widespread intimidation, harassment and detention of journalists in countries throughout the region. Authorities continued to target and brutally crackdown on those who dared to report on corruption allegations and human rights violations.

“Threats to the right to freedom of expression and the media continued unabated across the East and Southern Africa region over the past year. Speaking out against or scrutinising government policies, actions or inaction, or publicly sharing information deemed damaging to the government carried the risk of arrest, arbitrary detention, or death,” said Tigere Chagutah, Amnesty International’s Regional Director for East and Southern Africa.

Amnesty International also documented increased intentional disruption of internet connectivity and the enactment of tough cyber security laws aimed at silencing the media and controlling information dissemination.

Hiding behind the “law”: silencing journalists by all means

Across East and Southern Africa, authorities used national security laws including counter terrorism and cybersecurity legislation to undermine the right to freedom of expression, punish journalists and suppress media freedom.

In Madagascar, the Cybercriminality Code and the Communication Code have forced journalists to self-censor due to fear of reprisals. Broad and vaguely defined provisions within the laws such as “attacks on state security”, “defamation”, “dissemination of fake news” and “incitement to hatred” have been used to intimidate, harass and target journalists.

In February, the Zimbabwean authorities banned two journalists  from covering government functions in Midlands province. Midlands Minister of State and Devolution Affairs singled out Sydney Mubaiwa (Mirror Midlands bureau chief) and NewsDay’s Stephen Chadenga who were at a meeting organized by the Gender Commission and ordered them not to attend future government engagements.

In May, Zimbabwe enacted the Criminal Law (Codification and Reform) Amendment Act (Patriot Act) which threatens media freedom as it criminalises wilfully injuring the sovereignty and national interest of Zimbabwe.” Journalists who attend a meeting where there is “reason to believe” that its aim is “to consider or plan armed intervention” might be charged even when they only attend for the purpose of reporting.

In South Sudan, Amnesty International documented intimidation, harassment and censorship of journalists including cases where security officers removed newspaper articles, they deemed critical of the transitional government, blocked journalists from covering some political parties, confiscated accreditation documents as well as equipment of journalists, and suspended the operations of some media houses.

In the Democratic Republic of Congo, authorities continued their relentless attacks on the right to freedom of expression and press freedom, against the backdrop of the general elections held in December 2023, inter-community violence in certain regions and the armed escalation in the eastern provinces.

Over the past year, the authorities arbitrarily closed down a dozen media outlets and programmes, on charges ranging from “spreading false rumors” to “inciting revolt against the established authorities” and “defamation”.

In September 2023, journalist Stanis Bujakera was detained and prosecuted for “spreading false rumors” and “forgery” following the publication by Jeune Afrique of an article implicating the security services in the murder of politician Chérubin Okende. In March 2024, Bujakera was convicted and sentenced to six months in prison, despite the authorities failing to demonstrate any criminal offense and liability in the case. He was eventually freed from prison because he had already been detained for more than six months. At least three more journalists are currently detained on trumped-up charges across the country.

In Burundi, journalist Floriane Irangabiye is serving a ten-year prison sentence for critical comments she made about the Burundian government during an online radio show. In January 2023 the High Court of Mukaza found her guilty of “endangering the integrity of the national territory”. She has appealed twice unsuccessfully, and the Supreme Court upheld her conviction on 13 February 2024.

In Zambia, on April 13, police officers arrested Rodgers Mwiimba and Innocent Phiri in the town of Kafue, south of the capital, Lusaka, while filming an altercation between police officers and two opposition party leaders. They were detained at Kafue police station, forced to delete their footage and released two hours later.

In Malawi, Macmillan Mhone was arrested and charged with ‘publication of news likely to cause fear and alarm’ over a story that he wrote in August 2023 on the fraudulent activities of a businessman who had been charged with conspiracy to defraud the Malawi government.

Amid persistent armed conflicts since 2020, Ethiopian authorities used state of emergency laws to arbitrarily arrest journalists. Since August 2023 at least nine journalists have been detained, with five remaining in custody. Among them, three face terrorism allegations, which could lead to the death penalty if they are convicted.

In Somalia, journalists were subjected to threats, harassment, intimidation, beatings, arbitrary arrests and prosecution. In February 2023, a court in Mogadishu sentenced Abdalle Ahmed Mumin, a journalist and secretary general of the Somali Journalists Syndicate (SJS), to two months’ imprisonment for “disobeying government orders” after SJS held a press conference to protest directives issued by the information ministry on coverage of an offensive against al shabab armed group.

In Mozambique, where journalists routinely face intimidation, harassment, death threats, violence and even killings, newspaper editor Joao Fernando Chamusse, was killed at his house in Maputo in December 2023. João Fernando Chamusse was the editor of the newspaper Ponto por Ponto and a commentator on TV Sucesso, which has faced increasing intimidation. Its CEO Gabriel Júnior, received death threats recently.

In Lesotho, investigative journalist Ralikonelo Joki, known as Leqhashasha, was ambushed and fatally shot outside Tšenolo FM studio in Maseru in May 2023. Prior to his killing, believed to be linked to his work as a journalist, he had received death threats on three occasions.”Amnesty International reiterates its call for authorities in East and Southern Africa to release unlawfully detained journalists, stop targeting the press merely for doing its job, and end the misuse of the justice system to silence journalists and critics, and clampdown on the freedom of the media,” said Tigere Chagutah.

Distributed by APO Group on behalf of Amnesty International.

The Ministry of Health’s State Department for Medical Services has begun a comprehensive headcount to realign its staff with the recently approved structure by the Public Service Commission.

Principal Secretary Mr. Harry Kimtai, representing Cabinet Secretary Nakhumicha S. Wafula, initiated the initiative today at Afya House, stressing its importance for human resources planning within the department.

PS Kimtai emphasized the need to align staff assignments with the newly established framework, highlighting the importance of technical officers for departmental operations.

The headcount aims to ensure payroll accuracy and eliminate discrepancies through certificate verifications, updating records, and streamlining divisions and directorates accordingly.

The  PS clarified that the exercise is solely for record updating, placing individuals according to their specialties, and aligning heads of divisions and directorates. This reflects the Ministry’s commitment to organizational efficiency and accountability.

The headcount includes staff in counties, with a directive for those on strike to report back to their work stations and submit necessary paperwork. Non-compliance may lead to disciplinary action.

Initial findings revealed discrepancies at Mathari and Spinal facilities, where personnel listed on the payroll were found to be deployed elsewhere.

Kimtai urged all staff to submit paperwork by the 7th to avoid salary disruptions and potential disciplinary measures.

Approximately 250 employees have already had their salary payments suspended, particularly those who failed to declare their wealth. PS Kimtai emphasized the significance of compliance, as non-compliance may result in being deemed absent from duty.

Distributed by APO Group on behalf of Ministry of Health, Kenya.

President William Ruto today chaired a Cabinet meeting for the second time this week to deliberate on extra measures to mitigate the devastating effects of flooding, mudslides and landslides in many parts of the country.

The Cabinet noted that more citizens who have been affected by floods, mudslides and landslides are increasingly receiving help with food and non-food items from the government working with other partners.

Noting that flooding, mudslides, landslides and other extreme weather conditions are a result of climate change, Cabinet resolved that the government, from now on, will rally the country in implementing measures, programmes and policies that will mitigate the effects of climate change.

On the Cabinet directive on Tuesday for the people living in riparian reserves to move out, the meeting noted that the people affected had received the news positively.

The Cabinet was briefed on the weather forecast for the next three months, which shows that average to above average rains will continue in all parts of the country.

Consequently, flooding is expected in low-lying areas as are landslides and mudslides.

Crucially, the coastal region is likely to experience Cyclone Hidaya, which will result in heavy rainfall, large waves and strong winds that could affect marine activities in the Indian Ocean.

On the adverse effects of weather conditions on schools, Cabinet was informed that infrastructure, including classrooms, dormitories, halls, toilets, latrines fences and perimeter walls, has been destroyed.

Some schools have been flooded, while others are being occupied by people who have been displaced by mudslides, landslides and floods.

To repair and rehabilitate destroyed school infrastructure, the Cabinet directed that the Ministry of Education works with the National Government Constituency Development.

The Cabinet endorsed the Ministry of Education’s decision to postpone the reopening of schools by one week. Schools will now reopen on May 6.

The ministry was directed to work with the National Government Constituency Development Fund so that funding is made available for repair and rehabilitation of destroyed infrastructure.

The Cabinet also approved the expansion of the Manda Bay Airfield runway in Lamu. This project will enhance Kenya Defence Forces’ capability to defend the country’s sovereignty and territorial integrity.

Distributed by APO Group on behalf of President of the Republic of Kenya.