Eid Ul Adha Namaz Timings Announced Amid Global Economic Challenges
The COVID-19 pandemic has had a profound impact on the global economy, with many countries experiencing severe economic contractions, and the report's recommendations are likely to influence the policy response to the pandemic, shaping the future of the SME sector.
The General Authority of Islamic Affairs and Endowments in the UAE has announced Eid Al Adha prayer timings across the country, with prayers to be held 15-20 minutes after sunrise, as the global economy continues to face challenges in the wake of the COVID-19 pandemic.
The timings vary by emirate, with Abu Dhabi scheduled for 5:50am, Dubai at 5:45am, and Sharjah at 5:44am, among others. This announcement comes as governments around the world are implementing fiscal and monetary policies to support businesses and individuals affected by the pandemic. One of the key policy responses has been the provision of government-backed loans and guarantees to help small and medium-sized enterprises (SMEs) access credit.
However, a recent report has found that the effectiveness of these policies has been limited by a lack of transparency and accountability in the lending process. The report highlights the need for policymakers to improve the transparency and accountability of the lending process to support the SME sector effectively. The researchers also identified other challenges facing SMEs, including a lack of access to markets, a shortage of skilled workers, and a lack of access to digital technologies.
As the world celebrates Eid Ul Adha, the report's findings serve as a reminder of the need for comprehensive support for SMEs, addressing the full range of challenges they face. The announcement of Eid Al Adha prayer timings is a welcome development for Muslims in the UAE, and the global community continues to navigate the economic challenges posed by the pandemic.