Educational reforms, women empowerment: Morocco's weapons against terrorism
New Delhi: Reforms in the traditional education system and empowering women are the two major agendas Morocco is following in its efforts to counter terrorism and radicalisation, a top diplomat of the North African nation has said.
"We still have the problem of dealing with the traditional education system," Assia Ben Salah Alaoui, Ambassador at large for Moroccan King Mohammed VI said in a speech on "Morocco's Security Strategy: Preventing Terrorism and Countering Extremism" organised by the Indian Council of World Affairs (ICWA) think tank here on Wednesday.
She said that families were being engaged to ensure that children were not radicalised at a young age.
Alaoui said that the idea that women and Islam are incompatible, just as democracy and Islam are incompatible, should be revoked. "Women business organisations are being helped in our country," she stated.
According to Aaloui, religion today has become a very minor factor in the radicalisation of people for terrorism. She said that those being targeted were from poor and malnourished backgrounds and were being paid on a monthly basis by the terrorist organisations like the Islamic State.
She said that religion still retains a role in this global menace because of people in Europe.
"These people have lost touch with their culture. They do not know religion, they don't know the origin of their culture," the Ambassador stated. "The terrorists are promising them dreams of going to paradise."
Aaloui said that in her country imams are being trained to propagate moderate Islam. "In Morocco, we have created the Foundation of African Ulema that is working hard to spread moderate Islam."
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Rupee falls 5 paise to close at 89.94 against US dollar after RBI cuts repo rate
Mumbai (PTI): The rupee on Friday gave up its initial gains and settled for the day lower by 5 paise at 89.94 (provisional) against US dollar, after the Reserve Bank cut key benchmark interest rate for the first time in six months.
Forex traders said the Reserve Bank of India's (RBI) rate cut will weigh on the rupee, but RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through open market operations (OMO), combined with a USD 5 billion buy-sell swap, will support the local currency.
At the interbank foreign exchange market, the rupee opened at 89.85 against the US dollar and gained ground, touching 89.69 in morning deals, registering a 20-paise gain from its previous close.
After the RBI's monetary policy announcement, the rupee lost ground and fell to 90.06 against the American currency, a 16-paise decline from its previous close of 89.89. The currency is down almost 5 per cent against the dollar this year, the worst performer in Asia.
The local unit finally settled for the day lower by 5 paise at 89.94 (provisional) against the American currency.
"Beyond the rate cut, RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through OMO, combined with a USD 5 billion buy-sell swap, marks a decisive effort to restore durable liquidity and stabilize currency markets after the rupee's sharp depreciation," said Sachin Bajaj, Executive Vice President & Chief Investment Officer, Axis Max Life Insurance.
The RBI on Friday cut the key benchmark interest rate for the first time in six months and took steps to boost liquidity to support a "goldilocks" economy amid high US tariffs.
Reserve Bank Governor Sanjay Malhotra said the central bank does not target any band for the rupee in the forex market, and allows the domestic currency to find its own correct level.
"We don't target any price levels or any bands. We allow the markets to determine the prices. We believe that markets, especially in the long run, are very efficient. It's a very deep market," he said while replying to a question on rupee depreciation at a post-monetary policy press meet.
Malhotra said fluctuations in the market keep occurring, and the RBI's effort is always to reduce any abnormal or excessive volatility. "And that is what we will continue to endeavour," he added.
In its bi-monthly monetary policy, the RBI announced three-year USD/INR Buy Sell swaps of USD 5 billion this month. When asked if this is aimed at checking rupee depreciation, Malhotra said, "It is a liquidity measure. It is not to support the rupee".
The governor further said the country has sufficient foreign exchange reserves and that the current account is manageable, and that, given the strong fundamentals of the economy, the country should witness strong capital flows going forward.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.96.
Brent crude, the global oil benchmark, rose 0.02 per cent to USD 63.27 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 447.05 points to settle at 85,712.37, while the Nifty climbed 152.70 points to 26,186.45.
Foreign institutional investors sold equities worth Rs 1,944.19 crore on a net basis on Thursday, according to exchange data.
