SEOUL: North Korea warned on Monday it would continue to exercise its sovereign rights, including through satellite launches, while its troops were reported to be restoring some demolished guard posts on the border with South Korea.
North Korea’s foreign ministry said the launch of a reconnaissance satellite last week was prompted by the need to monitor the United States and its allies, state media KCNA reported.
“It is a legal and just way to exercise its right to defend itself and thoroughly respond to and precisely monitor the serious military action by the US and its followers,” the KCNA report said.
Nuclear-armed North Korea launched the satellite on Tuesday, saying it successfully entered orbit and was transmitting photographs, but South Korean defense officials and analysts said its capabilities have not been independently verified.
The launch prompted South Korea to suspend a key clause in a 2018 inter-Korean military agreement and resume aerial surveillance near the border.
North Korea in turn declared it was no longer bound by the agreement and would deploy weapons on the border with the South.
Citing South Korean military officials, Yonhap news reported that North Korean soldiers had been observed bringing back heavy weapons into the Demilitarized Zone (DMZ) border and setting up guard posts that the two countries demolished in the wake of the de-escalation agreement.
South Korea estimates the North had about 160 guard posts along the DMZ and the South had 60. Each side demolished 11 of them after the military deal signed in 2018.
A South Korean defense ministry spokesperson declined to confirm the report.
Yonhap reported heavily armed North Korean soldiers had been spotted restoring damaged guard posts in several locations since Friday, citing photographs from cameras in the DMZ.
The United States had called an unscheduled meeting of the UN Security Council on Monday to discuss the North’s satellite launch.
On Nov. 22, nine members of the Security Council joined the United States in a statement condemning the North’s satellite launch for using ballistic missile technology, calling it a violation of multiple Security Council resolutions.
North Korea’s foreign ministry said the statement only showed how dysfunctional the Security Council had become, with some member states blindly following the United States in issuing meaningless statements.
Two of the veto-wielding permanent members, China and Russia, have refused to join in any new Security Council sanctions against Pyongyang despite its continued testing of increasingly powerful ballistic missiles.
They did not join in the most recent statement last week.
North Korea vows more satellite launches, beefs up military on border
https://arab.news/bphjz
North Korea vows more satellite launches, beefs up military on border
- North Korean soldiers bring back heavy weapons into the Demilitarized Zone border and setting up guard posts
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.
