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Islamic university to be created in Latin America

The Arab News reported that Latin American Islamic associations gathered in the Brazilian city of Sao Paulo recently to sign an agreement to create the Latin American and Caribbean Islamic University.
The academic institution will allow future Muslim leaders to study in their own region, without the need to move to Middle Eastern countries and other Muslim nations.
Imams in Latin America had been discussing the idea for years. Now, Brazil’s Islamic Dissemination Center for Latin America, known by the Portuguese acronym CDIAL, and the Supreme Council of Imams and Islamic Affairs in Latin America and the Caribbean have finally made it possible.
CDIAL and the council established a deal with the Islamic University of Minnesota, which will provide academic courses and materials for the new institution.

Initially, it will have headquarters in Sao Paulo, with classes in Portuguese, and Mexico City, with classes in Spanish.
CDIAL’s Vice President Ziad Saifi told Arab News: “We’re beginning with the cities with a higher number of potential students. But our idea is that other countries create their own branches in the future."
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He said the program was inspired by traditional Islamic courses such as those offered by the Islamic University of Madinah in Saudi Arabia and Al-Azhar University in Egypt.
He added: “The university’s goal is not only to educate future sheikhs, but any person who wants to deepen his or her knowledge of Islam."
Even non-Muslim students will be able to enroll in classes, said Egyptian-born Sheikh Abdelhamid Metwally, who will be the university’s president and academic director.
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He added: “We want to educate people in Islamic culture and tradition. We certainly will be able to work on the formation of sheikhs. Students who desire to pursue such a path will be able to continue their studies."
“But we also want to simply educate people on Islam. Both Muslims and non-Muslims need to have a better understanding of our religion.”
Living in Brazil for 15 years, Metwally believes it is desirable to train in Latin America religious leaders who will work in the region.
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That is also the opinion of Sheikh Mohamed Mansour, who will coordinate the Spanish-language courses in Mexico City.
“We need to educate people here so they can think from here. Many times, people go to the Middle East to study and when they come back, they want to impose the Middle Eastern culture in Latin America. That’s not possible,” he told Arab News.
Mansour said that Islam has been growing throughout Latin America and the Caribbean, “but we aren’t growing well if we don’t have true knowledge,” adding, “We need an academic foundation, something that goes beyond the mosques’ teaching.”
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In Mexico, he explained, only Spanish can be spoken in class except for Arabic-language courses — if a professor or instructor can only speak Arabic, a translator will be present. He added: “God willing, soon we will have masters and PhD courses too."
Saifi said many sheikhs and the Muslim community as a whole have been supporting the creation of the university.
“Thankfully, people have been giving their time to this project and working on the translation of educational materials and other tasks,” he added, expressing hope that courses will begin in August.
The coordinating group is working on the university’s official accreditation in each of the region’s countries.
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Saifi said that at first the university will operate with distance learning, given the rising number of COVID-19 cases in most Latin American countries. But a physical location is being selected in Sao Paulo.
No distinction will be made between Sunni and Shiite students, and men and women alike will be able to enroll.
Saifi expressed hope that in the future, the Brazilian branch will welcome students coming from other Portuguese-language countries such as Angola and Mozambique.
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He said: “We still have a low number of mosques in Brazil, but their number is growing. We’ll certainly need more sheikhs and people educated on Islam."
Metwally agreed, saying: “In my own community in Sao Paulo, we have members who are already interested in enrolling. We’ll educate good Muslims.”
Source: arabnews
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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