World leaders react to Joe Biden’s inauguration

US President-elect Joe Biden flanked by wife Dr. Jill Biden arriving for his inauguration as the 46th US President. (AFP)
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Updated 21 January 2021
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World leaders react to Joe Biden’s inauguration

  • Benjamin Netanyahu says looks forward to continue expanding peace between Israel and Arab world
  • British Prime Minister Boris Johnson congratulated Biden following his inauguration, saying he "looks forward" to working with him

LONDON: World leaders have been reacting to US President Joe Biden's inauguration on Wednesday, replacing Donald Trump.

From the Arab World, the UAE’s President Sheikh Khalifa congratulated Joe Biden and wished him success.  Sheikh Khalifa said he hoped their two countries would deepen their decades-long partnership and work together on pressing challenges such as global health, climate change, and violent extremism.

Israeli Prime Minister Benjamin Netanyahu urged Biden to "strengthen" a long-standing alliance between the two countries, partly in order to confront the "threat" posed by Iran.
"I look forward to working with you to further strengthen the US-Israel alliance, to continue expanding peace between Israel and the Arab world and to confront common challenges, chief among them the threat posed by Iran," Netanyahu said in a video congratulating Biden.

British Prime Minister Boris Johnson congratulated Biden following his inauguration, saying he "looks forward" to working with him on "issues that matter to us all".
"Congratulations to Joe Biden on being sworn in as President of the United States and to Kamala Harris on her historic inauguration," Johnson tweeted.
"America's leadership is vital on the issues that matter to us all, from climate change to COVID, and I look forward to working with President Biden."

Canadian Prime Minister Justin Trudeau said he looked forward to working with the new president to fight COVID-19 and climate change.
In a statement, Trudeau said the two countries "will continue this partnership as we fight the global COVID-19 pandemic and support a sustainable economic recovery that will build back better for everyone".

Vatican Pope Francis told Biden he prays God wil guide his efforts to foster understanding, reconciliation and peace in the United States and the world.

Russia on Wednesday urged US President Joe Biden's new administration to take a "more constructive" approach in talks over the extension of the New START treaty, Washington's last arms reduction pact with Moscow.
"We expect that the new US administration will take a more constructive approach in its dialogue with us," the Russian foreign ministry said in a statement. "We are ready for such work on principles of equal rights and taking mutual interests into account."

European Commission President Urusla Von Der Leyen, tweeted saying: "The United States is back. And Europe stands ready. To reconnect with an old and trusted partner, to breathe new life into our cherished alliance. I look forward to working together with @JoeBiden."

German President Frank-Walter Steinmeier in a video statement saying: "Today is a good day for democracy. In the United States of America, it has faced tremendous challenges – and endured. Despite the attempts to tear at America’s institutional fabric, election workers and governors, the judiciary and Congress, have proven strong. I am greatly relieved that, today, Joe Biden is being sworn in as president and will be moving into the White House. I know many people in Germany share this feeling."

Spanish Prime Minister Pedro Sanchez , while speak at a public event, said: "The (election) victory of Biden represents the victory of democracy over the ultra-right and its three methods, the massive deception, the national division and the abuse, even violent, of democratic institutions... Five years ago, we thought Trump was a bad joke, but five years later we realized he jeopardized nothing less than the world's most powerful democracy."

Italian Prime Minister Giuseppe Conte, speaking in parliament on Tuesday, said: "We are looking forward to the Biden presidency, with which we will start working immediately in view of our presidency of the G20. We have a strong common agenda, ranging from the effective multilateralism that we both want to see ,to climate change, green and digital transition and social inclusion."

Secretary General of the Gulf Cooperation Council Nayef Falah Al-Hajraf congratulated the new president and vice president wishing them success and the American people further progress and prosperity. He expressed his aspiration to strengthen the strategic partnership between the GCC and the US.

(with Reuters, AFP and SPA)


8 in 10 British Muslims face ‘financial faith penalty’ when seeking home finance, survey finds

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8 in 10 British Muslims face ‘financial faith penalty’ when seeking home finance, survey finds

  • Restricted choices plague potential buyers

LONDON: Eight in 10 British Muslims say their home finance choices are restricted because of their faith, according to a new national survey that highlighted what researchers describe as a growing “financial faith penalty” in the UK housing market.

The report, published by Islamic home finance fintech firm Offa, found that 80 percent of Muslim respondents believe their religious beliefs limit their access to suitable home finance, while those who do use Islamic products often face slower decisions, heavier paperwork and poorer customer experiences than in the conventional mortgage market.

Based on surveys of 1,000 British Muslims conducted by Muslim Census, and 2,000 non-Muslims carried out by OnePoll, the research calls on providers, brokers and policymakers to modernize Islamic home finance and improve access to Sharia-compliant products.

Among the 24.3 percent of British Muslims who have used Islamic home finance, just 5 percent said they had received a same-day decision.

Some 62 percent waited up to two weeks, while 33 percent waited more than 15 days, including 16 percent who waited over a month.

Long decision times were cited as the biggest challenge by 28 percent of respondents, followed by excessive paperwork (22.6 percent) and poor customer service (18.9 percent).

Islamic home finance differs from conventional mortgages by avoiding interest and steering investment away from sectors considered harmful to society, including gambling, alcohol, tobacco, arms trading and animal testing.

Sagheer Malik, chief commercial officer and managing director of home finance at Offa, said the findings showed British Muslims were being underserved by outdated systems.

Malik said: “Property is the asset class of choice for many of the UK’s 3.87 million Muslims, both as a route to generational wealth and as a long-term financial foundation, yet our insightful research report reveals that British Muslims are being underserved and deterred by slow, outdated and opaque Islamic home finance provision.

“This is not a niche concern. It goes to the heart of financial fairness and inclusion in modern Britain.”

He added that Muslims deserved Sharia-compliant products that matched mainstream standards on “price, speed and simplicity.”

Despite strong demand, uptake remains low.

Only 12.8 percent of British Muslims surveyed said they currently use Islamic home finance, with a further 11.5 percent having done so in the past. More than three quarters (75.7 percent) have never used it.

Faith plays a central role in financial decisions, with 94.2 percent saying it is important that their financial products align with their ethical or religious beliefs. Yet more than half of those using conventional mortgages said they felt unhappy or uneasy about doing so because of their faith.

The study also found that British Muslims share similar home ownership aspirations to the wider population, with 79.1 percent citing the desire to provide a stable home for their family, while 18.6 percent said building generational wealth was their main motivation. Only 2.2 percent said they did not want to own a home.

The report suggests Islamic finance could appeal beyond Muslim communities. While 64 percent of non-Muslim respondents had never heard of Islamic home finance, 63 percent said they favored its ethical principles once explained.

Younger generations were the most receptive, with 43 percent of Generation Z and 37 percent of millennials saying they would consider using Islamic home finance, compared with just 7 percent of baby boomers. More than three quarters of Gen Z and 72 percent of millennials also said it was important that their finance provider avoided investing in ethically harmful sectors.

Offa said the findings pointed to an opportunity to expand ethical finance in the UK, provided the industry can deliver faster, simpler and more transparent services.