BAGHDAD: The operation to retake the town of Tal Afar, west of Mosul, from the Daesh group began Sunday morning, Iraq’s prime minister said.
Tal Afar and the surrounding area is one of the last pockets of Daesh-held territory in Iraq after victory was declared in July in Mosul, the country’s second-largest city. The town, about 150 kilometers (93 miles) east of the Syrian border, sits along a major road that was once a key Daesh supply route.
“The city of Tal Afar will be liberated and will join all the liberated cities,” Prime Minister Haider Al-Abadi said in an address to the nation broadcast on state television early Sunday.
Al-Abadi said his message to Daesh was: “You either surrender or die.”
Iraq’s mostly Shiite militiamen largely stayed out of the operation to retake Mosul, a mostly Sunni city about 80 kilometers (50 miles) to the east, but have vowed to play a bigger role in the battle for Tal Afar, which was home to both Sunni and Shiite Turkmen before it fell to Daesh, a Sunni extremist group. The militias captured Tal Afar’s airport, on the outskirts of the town, last year.
Their participation in the coming offensive could heighten sectarian and regional tensions. The town’s ethnic Turkmen community maintained close ties to neighboring Turkey. Turkish officials have expressed concern that once territory is liberated from Daesh, Iraqi Kurdish or Shiite forces may push out Sunni Arabs or ethnic Turkmen.
A stepped up campaign of airstrikes and a troop buildup has already forced tens of thousands to flee Tal Afar, threatening to compound a humanitarian crisis sparked by the Mosul operation.
Some 49,000 people have fled the Tal Afar district since April, according to the United Nations. Nearly a million people remain displaced by the nine-month campaign to retake Mosul.
PM: Iraqi forces begin operation to retake Tal Afar from Daesh
PM: Iraqi forces begin operation to retake Tal Afar from Daesh
Pakistan’s Engro executes $475 million Islamic financing deal to expand telecom infrastructure
- Islamic banking accounts for over a fifth of Pakistan’s banking assets amid a shift toward Shariah-compliant finance
- The deal brings more than 10,000 telecom towers under Engro’s control, enabling their shared use by multiple operators
KARACHI: Pakistan’s largest conglomerate Engro Corp. has completed a Rs133 billion ($475 million) Islamic financing deal to acquire telecom tower company Deodar, expanding its telecom infrastructure business as the country seeks to strengthen digital connectivity, the company said on Friday.
The transaction, structured entirely through Shariah-compliant financing, brings more than 10,000 telecom towers under Engro’s control and marks one of the largest Islamic financing deals in Pakistan’s infrastructure sector.
Engro, which has major interests in energy, fertilizers, food and petrochemicals, said the acquisition would allow it to scale shared telecom infrastructure, under which a single tower can host multiple mobile network operators, lowering costs and reducing duplication as Pakistan prepares for next-generation digital services.
“My congratulations to the Dawood family and Engro, the Islamic bankers and conventional banks through their Islamic windows on being able to put together a deal of this size,” State Bank of Pakistan Governor Jameel Ahmed said at a ceremony marking the transaction, referring to the company and its chairman. “This is a great achievement which has been supported by the banks.”
The deal was supported by a group of local banks, including United Bank Limited and Meezan Bank, Engro said, highlighting the increasing role of Islamic financing in funding long-term investment in Pakistan.
Islamic banking, which operates without interest and is based on profit-and-loss sharing structures, accounts for more than a fifth of Pakistan’s banking assets, and authorities have said they aim to transition the financial system toward Shariah compliance over the coming years.
The acquisition of Deodar, which was originally carved out of mobile operator Jazz, also aligns with government efforts to digitize the economy by expanding broadband access and supporting digital payments, e-commerce and online public services, though progress has remained uneven due to infrastructure and regulatory challenges.
