DUBAI, UAE, Oct. 30, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce an exclusive forum dedicated to exploring the intersection of Islamic finance and cryptocurrency. This event will take place on November 18, 2024, at 6 PM Dubai at Bybit’s Dubai office.

The educational forum will feature esteemed speakers, including Dr. Muhammad Yusuf Abu Jazr (Abu Ubaidah), PhD in Comparative Jurisprudence, former member of the Iftaa’ Council, and founding director of the Crypto Halal Office, Dr. Mohammad Mahdy, Founder and Chief Executive Officer at Exaado and more. These renowned experts will share their insights on the principles of Islamic finance and the potential of cryptocurrency to align with Shariah principles.

Bybit’s launch of its Islamic Account represents a significant development in the intersection of cryptocurrency and Islamic finance, effectively bridging innovation with adherence to Sharia principles. This initiative not only caters to the growing demand for Sharia-compliant trading options among Muslim investors but also aligns with the broader trends in the digital future of Islamic finance.

The forum aims to educate and engage the community about Bybit’s Shariah-compliant trading products, highlighting the platform’s commitment to providing inclusive and ethical financial solutions.

Key Highlights of the Forum:

In-depth discussion on the principles of Islamic finance and ethical investingPresentation on Bybit’s Islamic Account, including its features, benefits, and unique selling pointsLive product demonstration to showcase the user-friendly interface and seamless trading experienceEngaging Q&A session to address questions and concerns from attendees

Bybit’s Islamic Account offers a comprehensive suite of Shariah-compliant trading products, providing Muslim traders with an inclusive platform to engage in the digital asset market. Developed in consultation with ZICO Shariah Advisory Services Sdn. Bhd. (ZICO Shariah) and CryptoHalal to ensure compliance with the Shariah principles, the account ensures that all products strictly adhere to Islamic finance principles.

To RSVP, please visit: https://lu.ma/fci5yk52

#Bybit / #TheCryptoArk

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
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Facilitating Middle East Capital Allocation into Hong Kong Stocks via the Tracker Fund of Hong Kong

HONG KONG, Oct. 30, 2024 /PRNewswire/ — Hang Seng Investment Management Limited (‘Hang Seng Investment’) is pleased to announce its collaboration with SAB Invest, a subsidiary of The Saudi Awwal Bank in Saudi Arabia, and the launch of a new feeder Exchange-Traded Fund (‘ETF’) – the SAB Invest Hang Seng Hong Kong ETF by SAB Invest. The ETF is set to debut on the Saudi Exchange (Tadawul) on 31 October 2024. It will fully invest into the Tracker Fund of Hong Kong (‘TraHK’ – Stock code: 2800.HK), offering Middle Eastern investors a unique opportunity to access Hong Kong’s dynamic capital market.

Rosita Lee, Director and Chief Executive Officer of Hang Seng Investment, said, “Hang Seng Investment is delighted to collaborate with SAB Invest on this exciting initiative. The selection of TraHK as the underlying investment for an ETF outside of Hong Kong highlights its appeal to international markets. The launch of the SAB Invest Hang Seng Hong Kong ETF represents a significant step towards strengthening the financial bridge between Hong Kong and the Middle East, providing investors with a strategic gateway to the growth potential of Hong Kong and mainland China’s capital markets. Leveraging Hong Kong’s position as a leading international financial centre and its role as a super connector between mainland China and the world, Hang Seng Investment will continue to explore further opportunities in the global ETF market and facilitate cross-border capital flows.”

Ali AlMansour, Managing Director and Chief Executive Officer of SAB Invest commented, “We are extremely proud to announce the launch of this ETF in collaboration with Hang Seng Investment, the largest ETF manager in Hong Kong. This launch demonstrates SAB Invest’s commitment to delivering cost-effective, transparent, and liquid investment options that meet the rising demand for global diversification. For Saudi investors, the SAB Invest Hang Seng Hong Kong ETF offers a streamlined, efficient way to engage in a vibrant market. This initiative is a reaffirmation of our goal to provide investors with global investment solutions and access to high-quality and unique opportunities across the globe. The listing of this ETF will also bring numerous benefits by enhancing the investment climate in the Kingdom, widening available markets and instruments for local investors for the development of the capital market, and attracting and localizing foreign investments. It also symbolizes the deepening partnership between Saudi Arabia and China.”

Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority said: “We are pleased to see the collaboration between Hang Seng Investment and SAB Invest. The launch of the ETF in Saudi Arabia provides an opportunity for Saudi Arabia as well as Middle Eastern investors to have exposure to the Tracker Fund of Hong Kong, which invests in the largest and most established listed companies in Hong Kong. The Hong Kong Monetary Authority is very glad to support this launch which further demonstrates the strength and competitiveness of Hong Kong as an international financial centre.”

As of the end of September 2024, Saudi Arabia’s market capitalisation totalled USD 2.69 trillion, making it the largest in the Gulf Cooperation Council (GCC) region and accounting for 65% of the region’s total market capitalisation. This reflects not only the current financial strength of the Saudi Arabia but also as a driving force for economic growth and stability in the region. As of September 2024, there are nine ETFs listed on the Saudi Exchange (Tadawul), primarily focused on Saudi and US equities as well as fixed income.

TraHK, first launched in 1999, is the largest ETF in Hong Kong in terms of assets under management (AUM) and turnover. As of September 2024, its AUM stood at HKD 166 billion (USD 21 billion). The introduction of the SAB Invest Hang Seng Hong Kong ETF, which fully invests into the TraHK, highlights the performance of the Hang Seng Index, the most widely quoted gauge of the Hong Kong stock market. This new ETF offers diversified exposure to key sectors of the mainland China and Hong Kong economy, providing Middle Eastern investors with a wide range of opportunities in both mainland China and Hong Kong capital markets. This initiative aligns with the 2024 Policy Address, which aims to attract new overseas capital and boost investment in Hong Kong stocks.

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SOURCE HANG SENG BANK LIMITED

New AI-powered platform aims to cut absenteeism by 50 percent

NEW YORK, Oct. 30, 2024 /PRNewswire/ — Edia today unveiled its innovative AI-powered platform aimed at combating chronic absenteeism in school districts across America. Within minutes of an absence, Edia initiates personalized AI-driven conversations with families in more than 100 languages, enabling school districts to identify and tackle root causes of chronic absenteeism.

Since the Covid-19 pandemic, the rate of students who are chronically absent—defined as missing just under one month of class—has doubled to 26 percent nationally, reaching crisis levels and threatening the educational foundation of our nation’s youth. Chronic absenteeism is estimated to be responsible for up to 27 percent of the overall decline in math test scores and a shocking 45 percent of the drop in reading scores between 2019 and 2022.

“Today, nearly three-quarters of absences are unexplained, meaning no one called in ahead of time and districts don’t know where those children are,” said Joe Philleo, CEO of Edia. “With so many students missing school, staff don’t have the capacity to reach out to every single family and understand what is happening with their child.”

“Every situation is different,” Philleo continues. “When staff don’t know the reason students are missing school, they can’t fix the root cause. One student may miss school because they don’t have reliable transportation, and another student may skip Math and English in the morning and just attend Computer and Welding at the end of the day because they find those classes more engaging.”

By leveraging AI, Edia enables schools to identify and solve the root causes of chronic absenteeism. Its system ensures no absence goes unnoticed, helping to restore accountability, rebuild connections between schools and families, and resolve underlying challenges that keep students from attending class.

Key features of the Edia AI platform include:

AI Conversations within minutes of Absence: Personalized text message conversations in 100+ languages sent to parents within minutes of an absence, reducing unexplained absences by up to 80 percent.Analysis to understand why students are missing class: Texts, calls, and notes come together in a single profile to identify why students are missing school and enable teams to take the right set of action.Purpose-built workflows for MTSS interventions: Ability to launch, track, and coordinate personalized intervention plans for students at risk.

Edia’s new solution is currently being used in K-12 school districts nationwide, including Raton Public Schools, Farmington Municipal Schools, and Hobbs Municipal Schools.

“Chronic absenteeism is a significant issue in education and in the Raton Public Schools that can severely impact student achievement and the long-term success of a student,” Kristie Medina, Superintendent at Raton Public Schools. “It refers to students missing a substantial number of school days, typically defined as 10 percent or more of the school year, for any reason, whether excused or unexcused. The challenge of chronic absenteeism lies in its widespread impact, affecting not just individual students but the entire school community. Our district is committed to addressing chronic absenteeism because it is critical to ensuring every student has the opportunity to succeed and thrive in both school and life.

Medina continued, “I’m genuinely excited for Raton Public Schools to implement Edia’s AI Attendance Solution! The integration of AI into tracking and improving attendance will be a game-changer, especially when tackling chronic absenteeism. By leveraging AI, the district can gain deeper insights into attendance patterns, identify at-risk students earlier, and tailor interventions more effectively.”

About Edia

We believe that school shapes trajectories. Our goal is for every student to have an exceptional experience in school. Today, our team supports 100+ leading K-12 school districts across the United States. to substantially improve student outcomes for chronic absenteeism and mathematics. For more information, visit https://edia.app.

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SOURCE Edia