UN watchdog condemns war on Gaza

A resolution condemning Israel's military offensive in Gaza has been adopted by the UN Human Rights Council.

The non-binding resolution, approved in Geneva on Monday, said Israel's operation had "resulted in massive violations of human rights of the Palestinian people".

More than 900 Palestinians have died during the fighting, many of them women and children, and a further 4,100 have been wounded.

At least 25,000 have been displaced due to the ongoing bombardment, but are unable to flee the overcrowded territory as crossing points remain closed.

The resolution, drafted by Arab, Asian and African countries, called for an international mission to be sent immediately to the Gaza Strip to investigate Israel's actions.

It also called for an immediate end to the "launching of the crude rockets against Israeli civilians" by the Palestinian factions.
Israel launched its operation on December 27 after a ceasefire with Hamas ended a week earlier, stating its objective was to target the Palestinian faction's infrastructure and bring an end to the firing of homemade rockets into southern Israel.

'Fairytale world'

Fewer states than expected supported the resolution, which passed by 33 votes to one, with 13 abstentions. The US, not a member of the council, took no part in the debate.

Israel dismissed it as one-sided and reflecting the "fairytale world" of the 47-member council.

The text of the document said the council "strongly condemns the ongoing Israeli military operations ... which have resulted in massive violations of human rights of the Palestinian people and systematic destruction of the Palestinian infrastructure".

The resolution was opposed by Canada while European countries, Japan and South Korea abstained.

The resolution was backed by, among others, Russia, China, Argentina and Brazil.

During a debate on the resolution, Pakistan, speaking for the Organisation of the Islamic Conference (OIC), denounced what it called Israel's "unrestrained use of force, killing of innocent civilians" and violation of UN havens.

At least 40 people died last Tuesday when the UN-run school they were sheltering in was hit by Israeli fire.

'Massive violations'

All European Union countries abstained and Canada voted against the resolution.

Rupert Colville, a spokesman for the UN High Commissioner for Human Rights, told Al Jazeera: "In the end they [the UN] passed the resolution, it was not unanimous. I would not say it was that heated, at the end of the day there were still differences of opinion.
"Many states praised the Palestinian delegation for the flexibility they had shown in the negotiations, but they could not quite reach a consensus."

Speaking in the Gaza Strip, John Ging, head of the United Nations Relief and Works Agency (UNRWA) operations in Gaza, repeated his call for an immediate end to the fighting.

"I say now, to all politicians, here in Israel and internationally, you have an obligation to the ordinary people in the name of humanity and all that is civilised, we need to stop this now. Those who help will never be forgotten.

"Israel is responsible for its own actions and it is very clear to us that there are a lot of actions in this conflict that will need to be fully investigated independently and internationally.

"Those who have been killed and injured, those who are innocent, deserve accountability."

Peter Splinter, Amnesty International's representative at the United Nations in Geneva, backed the call for an investigation, saying "there must be a full accountability for war crimes".

"Evidence of war crimes is presenting itself each day," he told Al Jazeera.

Boutros Boutros-Ghali, a former UN secretary-general, added his perspective on the situation, saying the assault on Gaza "is a present the Israelis gave to the fundamentalists".

"It will reinforce extremists, fundamentalists, all over Arab countries and even inside Israel," he said.

Boutros-Ghali was headed the UN from 1992 to 1997.

Source: Al Jazeera and agencies

BEST ISLAMIC FINANCIAL INSTITUTIONS IN JORDAN (GLOBAL FINANCE 2008) : Islamic International Arab Bank

The Islamic International Arab Bank commenced its banking operations in accordance with Islamic Sharia rules on the twelfth day of Shawal 1418 AH, corresponding to 9 February 1998, to meet the growing demand for Islamic banking services and products.

The Islamic International Arab Bank was established in the Hashemite Kingdom of Jordan as a public shareholding company in accordance with the companies Law of 1989 and the company was registered in the Register of Public Shareholding companies under No. 327 on 30 March 1997.

The Islamic International Arab Bank's Vision : To be the premier Islamic financial institution in the Arab world.

Islamic International Arab Bank (IIAB)Islamic International Arab Bank (IIAB)has sponsored & launched two new Sharia'a compliant funds, the IIAB Islamic Mena Fund and the IIAB Sukuk and Murbaha MENA Fund. The Investment Manager/ Investment Advisor to both these funds is Al Arabi Investment Group Ltd (AB Invest).

The IIAB MENA Fund is an open ended investment vehicle, incorporated and registered in the Kingdom of Bahrain, subject to the rules and regulations of the Central Bank of Bahrain. IIAB has sponsored the Fund with US$5 Million. The Fund's objective is to achieve long-term capital appreciation through investing predominantly in a diversified basket of listed and unlisted equities in the Middle East & North Africa (MENA), whilst adhering at all times to the Sharia'a principles as monitored by the Fund's Sharia'a Board. The Fund is also listed on the Channel Islands Stock Exchange as the IIAB MENA Feeder Fund which Arab Bank has seeded with a further USD 5Million.

IIAB has also launched the IIAB Sukuk & Murabaha MENA Fund which is a medium-term, low risk vehicle with particular focus on Sukuks, Murabahas & Sharia'a compliant cash transactions. The Fund is listed on the Channel Islands Stock Exchange and was seeded by IIAB with USD 5 Million.

AB Private Banking, the wealth management arm of the Arab Bank Group will be distributing these funds to their clients thus increasing their investment product range in the conventional as well as Islamic Finance arena with innovative products with a regional focus .

Ghassan Bundakji, General Manger of AIIB said the launching of Islamic investment funds by AIIB is in line with growing demand by clients for Sharia'ah compliant investment tools.

Bundakji explained that the fund will be investing in activities and instruments that are sanctioned by the Islamic Sharia, in line with resolutions and recommendations set by the funds Sharia'ah board that monitors its activities.

IIAB considered one of the prominent Islamic banking institutions in Jordan, is a wholly owned subsidiary of Arab Bank Plc. They commenced their banking operations in accordance with the Islamic Sharia'ah in February 1998.