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BPI was established on August 1, 1851, as the "El Banco Español Filipino de Isabel II" (lit. ' The Spanish-Filipino Bank of Isabel II '), named after the Queen of Spain, Isabella II, the daughter of King Ferdinand VII. It was the first government bank in the Philippines and the third Philippine bank during the Spanish era.
Behest loan [16] — A loan granted to individuals or corporations favored by a powerful government official despite their lack of qualifications to receive such a loan. It is a mechanism for graft and political corruption particularly used in authoritarian regimes , where financial institutions such as banks are placed under intense pressure ...
In September 2010, Al-Arafah Islami Bank PLC. issued shares to raise funds to meet the requirements of Basel II. [9] A security officer of Al-Arafah Islami Bank PLC. was killed in May 2015 during a bank robbery attempt in Chittagong. [10] The Bank signed an agreement with Islamic Development Bank, based in Saudi Arabia, for investment. [11]
A boy shortly after receiving eidi on Eid al-Fitr, Bandar Abbas, Iran. Eidi (pronounced; Arabic: عيدية, romanized: Eidi), or Eidiyya, and in some cultures Eidhi, is a Middle Eastern Arab and Muslim tradition of gifting cash to children and families members by older relatives or family friends as part of the celebration of the two Muslim holidays: Eid al-Fitr and Eid al-Adha.
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In Somalia, the National Identification and Registration Authority was established in March 2023. Its mandate includes developing a National Identification Number, designed to streamline administrative processes, enhance security, and mitigate fraud and corruption by verifying identities in both digital and in-person transactions.
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Both Eid al-Fitr and Eid al-Adha follow a period of 10 holy days or nights: the last 10 nights of Ramadan for Eid al-Fitr, and the first 10 days of Dhu al-Hijjah for Eid al-Adha. The Night of Power (Arabic: لیلة القدر, romanized: Laylat al-Qadr), one of the last 10 nights of Ramadan, is the holiest night of the year.