The Dubai Court of Cassation has ruled that Islamic banks, finance institutions, and Takaful companies cannot charge fines or fees for late payments, citing Shariah principles and public order. The decision highlights a gap between traditional Shariah interpretations and legal enforcement, challenging long-standing practices in Islamic banking worldwide. For Bangladesh, this ruling signals the need to reassess contracts, align policies with international Shariah standards, strengthen customer trust, and ensure ethical and transparent implementation of Islamic finance principles.

Dubai Police have recovered a rare 21.25-carat pink diamond worth $25 million within just eight hours of its theft. Dubbed “Operation Pink Diamond,” the raid led to the arrest of three Asian suspects who had plotted the heist for over a year. The criminals lured a European trader by posing as wealthy buyers with luxury cars and hotel meetings before snatching the gem. The diamond, hidden in a refrigerator, was later found. The owner praised police for their swift action.

A devastating fire broke out at the 67-storey Marina Pinnacle residential tower in Dubai’s Marina area late Friday night. Emergency services worked for six hours to control the blaze, successfully evacuating all 3,820 residents from 764 apartments without any injuries. Authorities provided medical and psychological support, and temporary shelter was arranged for those affected. Although no casualties were reported, officials are reassessing the building’s safety measures and continuing efforts to assist displaced residents with recovery and care.