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QIIB lends a helping hand here

04 Feb 2010 17:02 Qatar International Islamic (QIIB) Bank has made a donation to support the programmes of the Centre for Educational Perspectives, Qatar.

Building a Viable Microfinance Sector in Afghanistan

04 Feb 2010 16:59 The microfinance sector in Afghanistan is going through a period of reform which is largely due to the consequence of an early emphasis on rapidly achieving operational sustainability.AREU researched on the impact of microcredit on informal credit...

Report on Social Responsibility Trends at Islamic Financial Institutions

02 Feb 2010 10:46 The report on Social Responsibility Trends at Islamic Financial Institutions presents the results of an extensive survey on Social Responsibility at Islamic Financial Institutions (IFIs) carried out during summer and fall of 2009 by DinarStandard...

Philippines to miss Islamic finance boom in Asia this year

02 Feb 2010 10:04 DEBT WATCHER Standard & Poor’s said Islamic finance growth will stay strong this year, as demand for financial products that comply with Islamic or Sharia law continues to increase with Southeast Asia driving expansion.The Al-Amanah Islamic In...

Jamsostek's subsidiary to acquire local sharia banks

02 Feb 2010 09:51 State insurance company PT Jamsostek plans to acquire stakes in two local sharia banks this year through a joint agreement with the Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD).The new investment arm of the comp...

Khurshid backs Islamic banking concept of Kerala

26 Jan 2010 18:00 The Centre has offered a helping hand to Kerala in revoking a stay order by the state high court against setting up of an Islamic bank.Noting that the court order could hamper investment opportunities in the country, Union minority affairs ministe...

Sharia banking grows strong in Indonesia

26 Jan 2010 17:50 The people of West Java also showed their support by injecting Rp 106 billion into the bank. Although its business was not too bright in its early days, the bank recorded a profit of Rp 372.5 billion in the second quarter of 2009. The achievement...

Is foreign investment the answer to Iraq's banking needs?

26 Jan 2010 17:40 A muscular banking sector will make or break whether Iraq is to rebuild and prosper.Iraq's financial architecture to support a growing, privatised economy is a bottom-up operation. The country remains a cash economy with a thriving black market. P...

Sharia-Compliant Hedge Fund Launched in USA

23 Jan 2010 17:26 Palisades Park Capital started a multi-strategy hedge fund in November. Justin Doff and Omar Haroon manage the fund. The fund is a computer-based long-short equity strategy.

Waqf Projects to be Launched in Makkah

23 Jan 2010 17:21 The International Islamic Relief Organisation-Saudi Arabia (IIROSA) is to launch six endowment (waqf) projects in Makkah at a cost of over SR470 million, with annual returns of about SR45 million that will be used to finance the organisation’s rel...

Templeton May Set Up Shariah-Compliant Equity Fund

23 Jan 2010 17:17 Mark Mobius, who oversees $33 billion in emerging-market securities as chairman of Templeton Asset Management Ltd., said he’s looking into setting up a Malaysia-based stock fund that’s compliant with Islamic law.

Sakana - BMI Bank in Islamic Financing deal

23 Jan 2010 16:30 Bahrain-based Sakana Holistic Housing Solutions and BMI Bank (BMI), an associate of Bank Muscat, signed a Commodity Murabaha Islamic Financing facility whereby BMI Bank provided BD 3 Million funding for 1 year to Sakana towards working capital req...

Alrajhi Bank has achieved the highest profits among all Saudi Banks

23 Jan 2010 11:27 Mr. Abdullah Bin Sulaiman Al Rajhi, Managing Director and Chief Executive Officer of Al Rajhi Bank announced that the bank has achieved a net profit for 2009 amounted to SAR 6,767 million ($1,804 million) compared to SAR 6,525 million ($1740 milli...

France seeks Islamic financial system

23 Jan 2010 11:21 The laicist French government seeks to make amendments to laws improving Islamic finance investors access to France. Although a relevant draft law was turned down by the Constitutional Council in form, but not in content, French Minister of Econom...

Alinma profit plunges 85%

23 Jan 2010 11:19 Alinma Bank's profit fell by 85 percent in the fourth quarter of 2009 as its net income amounted to SR5.6 million ($1.49 million), compared to SR38.6 million ($10.29 million) for the previous quarter, according to a posting on the Saudi stock mark...

Barwa Bank announces acquisition of The First Investor (TFI)

23 Jan 2010 11:14 Barwa Bank, a major new Qatari financial services provider, today announces the approved acquisition of Qatari based investment shareholding company, The First Investor. The acquisition by Barwa Bank has received full approval from the Qatar Centr...

Ingress gets 6-mth sukuk extension

23 Jan 2010 11:10 Ingress Sukuk Bhd has obtained its sukuk holders’ approval to extend the maturity date of about RM48 million in Islamic bonds, the company said today.

KFH plans expansion in US, Canada

23 Jan 2010 11:00 Kuwait Finance House (KFH) has revealed plans to expand into the US and Canada in 2010.

Benzinga Snapshot On Islamic Bonds (Sukuk): Going Strong In 2010?

23 Jan 2010 10:51 The sukuk market, which has been gaining ground since the second half of 2009, is expected to chart stronger growth in 2010, buoyed by the global economic recovery, low interest rates and the Government's pump-priming initiatives.

Islamic banks outperform non-Islamic banks in UAE quality bank benchmarking study

23 Jan 2010 10:26 Seven Islamic banks were included in this year's study which tested the service quality performance of 27 banks across the UAE. Five of the seven Islamic banks included claimed a place within the top 10 performance ranking table.

Bank Islam taps into IPO business

21 Jan 2010 08:42 Bank Islam Malaysia Bhd is expanding its corporate investment banking business to include initial public offerings (IPOs) as part of its expansion drive.

Islamic finance looks attractive to shipping industry

21 Jan 2010 08:40 Islamic finance in the GCC is emerging as a credible alternative source of ship finance.

BKME to go Islamic in Q2, achieves 13 percent growth, Bank to be renamed ‘Al Ahli Al Muttahad’

21 Jan 2010 08:37 Bank of Kuwait and Middle East (BKME) has achieved a growth of 13 percent in the last three years, and is now undergoing a change to become fully Sharia-compliant.

CIMB Wealth Advisors Targets RM25 Million Premium This Year

21 Jan 2010 08:11 CIMB Wealth Advisors Bhd aims to secure RM25 million premium this year from insurance and takaful products, chief executive officer Tan Beng Wah said on Monday.

7th IFSB Summit: "Global Financial Architecture: Challenges for Islamic Finance"

21 Jan 2010 08:07 The Islamic Financial Services Board (IFSB) is organising its 7th Summit on 4 - 5 May 2010 in Manama, Bahrain. The Central Bank of Bahrain is hosting the Summit, which is themed: "Global Financial Architecture: Challenges for Islamic Finance&...

Structural shift: Mohaimin Chowdhury, European Islamic Investment Bank (EIIB)

21 Jan 2010 08:05 In a paradox that sums up so much about the country, Dubai recently unveiled the world’s tallest building in the midst of a crisis in the property market.

Malaysia and UK sign off on uniform wakala

21 Jan 2010 07:55 Malaysian and the United Kingdom Islamic banks signed off on a standardised wakala deposit agreement, which some bankers said could help the industry reduce its reliance on the controversial commodity Murabaha structure.

Why CSR is important for businesses in Bangladesh

21 Jan 2010 07:50 Concepts of corporate social responsibility (CSR) and its practices in Bangladesh have a long history of philanthropic activities from time immemorial.

80 percent creditors approve Dar debt plan

18 Jan 2010 14:13 Kuwait's Investment Dar, the Islamic firm that co-owns British luxury carmaker Aston Martin, has received approval from almost 80% of creditors for a five-year plan to restructure about one billion dinars ($3.5 billion) of debt, two persons famili...

DIB launches new Takaful scheme

18 Jan 2010 14:09 Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a comprehensive accidental death and disability insurance plan offered at a very affordable annual premium, a statement said.

Meeting of creditors is next test for Dubai World

18 Jan 2010 14:07 Dubai World faces another test when it meets creditors next week to begin discussions on its other debts, totalling US$22 billion (Dh80.8billion).

Noor Takaful Launches Individual Family Insurance Suite of Products

18 Jan 2010 14:04 Noor Takaful, the Islamic Insurance provider, today launched its suite of Individual Family products with flexible protection, investment, and savings takaful plans to cater to the national and expatriate residents of the UAE. The introduction of...

Dubai Bank signs MoU with Community Development Authority

18 Jan 2010 14:01 Dubai Bank announced today the signing of a Memorandum of Understanding (MoU) with the Community Development Authority (CDA). The MoU marks a significant step forward in the bank's Corporate Social Responsibility (CSR) programme, and is in line wi...

Amlak Finance to Pay $33 Million Coupon on January 18 for 2010 Sukuk

18 Jan 2010 13:59 Dubai-based mortgage lender Amlak Finance will make its semi-annual coupon payment for its 2010 Sukuk on January 18.

Nakheel Development 2 Limited - Periodic Distribution - USD 750 Million Sukuk Trust Certificates due 2011

18 Jan 2010 13:56 This is to advise that a periodic distribution is due on 19th of January 2010. The total funds due will amount to USD 10,312,500.00 for Periodic Distribution to Certificate Holders.

Dubai World set to make formal standstill request

18 Jan 2010 13:09 Dubai World is expected to soon make a formal standstill request to creditors for $22billion in debt while it devises a restructuring plan. Dubai sent shockwaves through global markets on November 25 when it said it would request a standstill on b...

Saudi Al Jazira Bank Q4 loss up, ANB profit falls

18 Jan 2010 13:06 Saudi's Al Jazira Bank widened its losses for the fourth quarter by 189 percent while smaller rival Arab National Bank saw net profit falling 31.8 percent, the lenders said.

Malaysia Is World's Top Sukuk Listing Destination - Bursa Malaysia Attracted USD 17.6 Billion In Sukuk Listings In 2009

18 Jan 2010 13:04 Bursa Malaysia topped the world’s exchanges in terms of value of sukuk programme listings in 2009, recording a total of USD17.6 billion. Since its inaugural sukuk listing in August 2009, the Exchange listed 12 sukuk by end of December 2009 which c...

Barclays analysts give views on Nakheel Sukuk

18 Jan 2010 13:02 The comments from Barclays came in a report which recommended that investors sell their Nakheel Sukuk. How much money banks and investors are likely to obtain from Nakheel is under some dispute since the Dubai World conglomerate which Nakheel is a...

Barclays Capital calls to offload Nakheel sukuk

18 Jan 2010 12:59 Nakheel bondholders will recover less than half of their investments as the property developer's parent company renegotiates US$22 billion (Dh80.80billion) of debt, Barclays Capital analysts estimate.

ADIH starts work on $400m Indian project

18 Jan 2010 12:50 Abu Dhabi Investment House (ADIH) has begun enabling works and site facilities for its $400 million India Entertainment City (IEC) development in Navi Mumbai.

Wade urges Islamic banks to fight poverty

18 Jan 2010 05:08 Bank - The Senegalese president, Abdoulaye Wade, on Monday in Dakar urged Islamic banks to help fight poverty in Islamic or predominantly Muslim countries.

Aston Business School launches first Islamic finance centre in Europe

18 Jan 2010 05:00 Aston Business School in Birmingham, UK launched an Islamic Finance and Business Centre – the first of its kind in Europe.

NINTH HARVARD UNIVERSITY FORUM ON ISLAMIC FINANCE

17 Jan 2010 10:06 Ninth Harvard University Forum on Islamic Finance, Building Bridges Across Financial Communities, March 27-28, 2010, Harvard Law School, Cambridge, MA., USAThe Ninth Harvard University Forum on Islamic Finance, hosted by Harvard Law School’s Islam...

Calling Islamic financial institutions to become member of the United Nations Finance Initiative

17 Jan 2010 09:11 IslamicFinance.de is calling Islamic financial institutions to become member of the UNEP Finance Inititiave to learn and contribute to international best practice in ethical and faith based finance:"UNEP FI is a global partnership between UNE...

Bahrain-Based Gulf Finance House Lowered To 'B+' And Placed On CreditWatch Negative

14 Jan 2010 21:15 Press Release • The improvement in the liquidity position of Bahrain-based Islamic wholesale investment bank Gulf Finance House proved to be more limited, in our view, than we had previously expected. • We consider the recent unexpected departure...

SFS Cyprus, Kuwait Finance House launch $150million shipping investment fund

14 Jan 2010 17:28 Sharelink Financial Services Group (SFS) and Kuwait Finance House Asset Management Sdn Bhd (KFHAM) have launched a shipping venture that aims to raise 150 million dollars of investment for modern vessels.

Ingress seeks extension for sukuk

14 Jan 2010 17:22 Ingress Sukuk Bhd (ISB) has issued a notice to the holders of the sukuk convening a meeting of sukukholders on Jan 6, 2010 to consider an extraordinary resolution to extend the maturity date of the first tranche of the sukuk due on Jan 9, 2010 to...

Abu Dhabi Islamic Bank inks Emcredit deal

14 Jan 2010 17:20 Abu Dhabi Islamic Bank (ADIB) and Emcredit, the UAE's government-backed credit bureau, have signed an agreement to provide credit information services in supporting the bank's financing activities.

Dubai Islamic Bank says no deposit withdrawals -TV

14 Jan 2010 17:13 Dubai Islamic Bank DISB.DU has not witnessed any significant withdrawals by despositors after news of Dubai World restructuring shook global markets, the lender's financial chief said on Tuesday.

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