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Changes to attract Islamic investment 'a first step'

28 Feb 2010 17:55 PROPOSED TAX changes designed to attract business from the Islamic world are likely to be a first step according to Department of Finance officials. The Finance Bill proposes to introduce new measures designed to accommodate transactions that comp...

Nazir: Appoint minister to promote Asean

28 Feb 2010 17:52 Asean member countries must have a minister to promote and champion the grouping’s causes within each country as the region moves towards integration by 2015, CIMB group chief executive Datuk Seri Nazir Tun Razak said

Investor Numbers and Confidence Up as MIPIM Approaches

28 Feb 2010 17:50 Some 2,300 international investors, a 12% increase on the same period 2009, have already signed up for the 21st edition of MIPIM (Cannes from March 16-19), as executives report improved confidence in the real estate market and economic recovery op...

Islamic banking gets the blues

28 Feb 2010 17:46 Proponents of Islamic finance should strive to lead by example and make it a system that can be used by all, Ali says. He says he’s found that the global economic crisis has highlighted the positive attributes of the Islamic finance system and has...

Finance Bill 2010: Provisions to increase the attractiveness of Ireland as a location for investment and transfer pricing change

28 Feb 2010 17:40 The Minister for Finance Brian Lenihan T.D. today published the Finance Bill 2010 which gives effect to the taxation measures announced in last December’s Budget. The Minister highlighted a number of the 2) other new measures in the Finance Bill:...

Asia to Drive 24% Growth in 2010 Global Sukuk Sales, CIMB Says

28 Feb 2010 17:33 Sales of Islamic bonds may increase 24 percent this year, led by Southeast Asia, as the region’s expansion helps drag the world out of recession, said CIMB Group Holdings Bhd., the leading arranger of such issuance.

Financial analysts are honoured

28 Feb 2010 17:27 Fifty new chartered financial analysts have been honoured by the professional body CFA Bahrain. They were recognised at its annual charter awards and forecast dinner held at the Ritz-Carlton Bahrain Hotel and Spa last night. The CFA Charter Award...

Experts pitch for Islamic banking in India

28 Feb 2010 17:25 With the global financial crisis putting the spotlight on "casino capitalism" of the West, leading scholars and experts from the Arab world on Thursday pitched for interest-free Islamic banking as a solution and its introduction in India...

Growing interest in Bahrain banking sector

28 Feb 2010 17:21 Efforts to make Bahrain and its economy more business friendly has attracted growing interest from the Gulf and beyond, Rasheed Al-Maraj, the Governor of the Central Bank of Bahrain (CBB), told CNBC Europe’s “Closing Bell” programme in an intervie...

Kazakhstan To Host Conference On Development Of Islamic Finance

28 Feb 2010 17:19 The Kazakh city of Almaty will host an international conference on development of Islamic finance in the Commonwealth of Independent States, Azerbaijan's news agency AzerTac reported Friday.

India summit spotlight on Islamic finance

28 Feb 2010 17:16 Khaleeji Commercial Bank head of treasury and capital markets Hussam Saif was a key speaker at the Leaders Summit Conference held in India.

Islamic Microfinance - Business Proposal Competition

26 Feb 2010 01:00 CGAP, Deutsche Bank, Islamic Development Bank, and Grameen-Jameel announced the Islamic Microfinance Challenge 2010: Innovating Sustainable, Scalable, and Market-Driven Models. The contest is a joint initiative to promote the innovative design of...

Islamic real estate again in vogue: S&P

21 Feb 2010 05:49 Sharia-compliant investors are taking a renewed interest in commercial and residential real estate across the gulf region, trying to time any investments to catch a rebound in prices, Standard & Poor's told Reuters on Wednesday.

France risks sharia credentials over sukuk delay

21 Feb 2010 05:47 France must host a sukuk issuance this year to show it is serious about Islamic finance and overcome the legal uncertainties that caused a delay to a 1 billion euro ($1.37 billion) issuance, a lawyer working on the deal Told Reuters on Wednesday....

Private equity boom seen for Islamic finance

21 Feb 2010 05:42 Private equity will be a key growth engine for the Islamic finance industry, but fund managers need to better understand Sharia concepts before a market can develop, a top banker told Reuters on Wednesday. Like most parts of the world, the private...

Bahrain GFH eyes $250 million asset sales

21 Feb 2010 05:34 Gulf Finance House plans to raise $250 million through asset sales this quarter, and has made lay-offs to cut costs after a regional real estate boom ended, its acting CEO told Reuters on Tuesday.

StanChart to launch Islamic commodity derivative: CEO

21 Feb 2010 05:31 Standard Chartered Bank Saadiq expects to launch an Islamic commodity derivative in the first quarter, the bank's chief executive told Reuters on Tuesday.

London sharia bank targets well-off Gulf clients: BLME CEO

21 Feb 2010 05:27 Sharia-compliant Bank of London and the Middle East (BLME) is targeting the thousands of rich Gulf residents who spend part of the year in London, to boost its private banking arm, its head told Reuters. The Bank will offer investors access to lea...

Islamic derivatives standard to launch soon

21 Feb 2010 05:17 The launch of the first template for an over-the-counter Islamic derivative contract is "imminent" and will encourage more companies to hedge their risks, an executive at a bank involved in its creation told Reuters on Tuesday. The contr...

CEO of HSBC Amanah to Speak at Euromoney's Islamic Finance Summit in February

18 Feb 2010 18:48 CEO of HSBC Amanah will deliver the keynote address at Euromoney's Islamic Finance Summit in London on 23rd February 2010 at The Landmark.In his speech, Mukhtar Hussian is expected to highlight how to put the economic crisis and lessons learnt fro...

RP to miss Islamic finance boom in Asia this year

18 Feb 2010 18:45 Islamic finance growth will stay strong this year, as Southeast Asia drives demand for financial products that comply with Islamic or Sharia law, debt watcher Standard & Poor's said.But the Philippines is unlikely to benefit from this since Is...

Islamic finance education gains momentum in UK

18 Feb 2010 18:43 The launch of Europe’s first dedicated Islamic Finance and business Center at a mainstream British university, Aston Business School, which is part of Aston University in Birmingham, underlines the growing Islamic finance education industry in and...

Islamic finance gaining major support in Britain

18 Feb 2010 18:41 “Islamic finance is, and will continue to be, an important part of the government’s overall commitment to ensuring a competitive financial services sector in the UK,” reiterated Sarah McCarthy-Fry MP, exchequer secretary to Treasury, in London at...

Islamic finance "safe" billing is myth: Qatar regulator

18 Feb 2010 18:36 It's a myth to assume Islamic finance products are safer than conventional products and underlying risks should be studied more carefully, Qatar's top regulator said on Wednesday.Despite being billed as a safer alternative to traditional banking b...

Bank Melli Iran rejects rumors on bankruptcy

18 Feb 2010 18:29 The financial manager of Bank Melli Iran (BMI) has refuted the rumors on declaring bankruptcy by the bank, saying BMI is the largest bank in Iran and across the Islamic world, considering its total assets of around $54 billion. A report released i...

Taageer makes investments in Sudan

18 Feb 2010 18:26 As part of Taageer's efforts to spread its geographical presence, the company has made its first investments in Sudan along with one of the major founder promoters of Taageer (The Arab Investment Company). The most important aspect of the investme...

CBB Sukuk Al-Salam Securities over subscribed

18 Feb 2010 18:21 The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed. Subscriptions worth BD63m were received for the BD12m issue, which carries a maturity of 91 days. The expected ret...

Saudi takaful growth boosts local bonds

18 Feb 2010 18:19 Rapid growth among Saudi Arabia's Islamic insurers will benefit the domestic bond market but bypass dollardenominated issues due to regulations that keep insurers' investment close to home, experts and executives said.Strong growth in the takaful,...

Total provisions booked by GCC banks since start of crisis reached $11.7b

18 Feb 2010 03:46 In a presentation for the performance of the GCC banking sector, KIPCO Asset Management Company (KAMCO) Research Department presents a detailed analysis for the financial statements for 58 banks with the purpose of shedding the light on the reperc...

Malaysia Needs Vibrant Stock Market For Islamic Finance Growth

17 Feb 2010 20:03 Malaysia needs to develop a vibrant stock market to attract asset flow and support the growth of Islamic finance, first holder of the International Centre for Education in Islamic Finance (INCEIF) chair of Islamic finance, Dr Abbas Mirakhor, said...

Pakistan to pay $600m on maturing Islamic bond

17 Feb 2010 20:01 Pakistan is due to pay $600 million on a maturing 5-year Euro Sukuk bond, on Tuesday, an SBP official said.

DSAM Kauthar Commodity Funds record industry leading growth in 2009

17 Feb 2010 19:59 Highlighting the sound underlying investment strategy of its fund managers and innovative product development strategy, Dubai Multi Commodities Centre Authority (DMCCA) announced today that its Shariah-compliant Dubai Shariah Asset Management (DSA...

Malta runs into problems with Islamic banking

17 Feb 2010 19:55 Malta should be in a position to issue guidelines on securities under Islamic finance law by the middle of the year, but there were still legal and technical problems to sort out with respect to banking, Finance Minister Tonio Fenech said.

S&P says prospects weaker for Dubai sukuk issuers

17 Feb 2010 19:37 While the medium-term prospects for the global sukuk market remain strong, the prospects are weaker for Dubai-based issuers and potentially other countries in the Gulf. That’s the assessment of ratings agency Standard & Poor’s (S&P), which...

Emirates NBD to discontinue S&P's credit ratings service

17 Feb 2010 19:35 Dubai Emirates NBD announced yesterday that the company has decided to discontinue use of Standard & Poor's (S&P) Investors Service for rating of its banking subsidiaries, Emirates Bank International (EBI) and National Bank of Dubai (NBD).

BKME UPON TURNING POINT AS IT CONVERTS TO SHARIA-COMPLIANT MODE

17 Feb 2010 18:59 The Bank of Kuwait and the Middle East (BKME) expects 2010 to prove a year of major and strategic changes towards operation as an Islamic Sharia-compliant bank as of the second quarter, upon completion of procedures to obtain the required Amiri De...

Dawood Islamic Bank opens branches

17 Feb 2010 18:56 Dawood Islamic Bank, Pakistan’s only double AA rated bank has completed its hat trick by inaugurating three more branches in Lahore.

IslamicFinance.de invites its users to betatest the Islamic Finance WIKI

16 Feb 2010 20:43 Dear User,as salamu alaikum,In these days I am testing the new function of IslamicFinance.de: The Islamic Finance WIKI.For long time I felt a need to have a proper encyclopaedia on Islamic finance, which is up to date and easily accessible for all...

Saudi takaful growth boosts local bonds

16 Feb 2010 15:10 Rapid growth among Saudi Arabia's Islamic insurers will benefit the domestic bond market but bypass dollardenominated issues due to regulations that keep insurers' investment close to home, experts and executives said.

Qatar's Masraf al Rayan sees Q4 profits up 30%

16 Feb 2010 14:42 Masraf al Rayan, Qatar's fourth largest bank by market value, reported a fourth quarter profit of $76.96 million, an increase of 30 percent over the same period in 2008, according to Reuters calculations.

New watchdog set to probe Sharia violations on finance

16 Feb 2010 14:39 A new watchdog is to be launched to investigate suspected violations of Sharia-compliance among Islamic finance products, Arabian Business has learned.

Bahrain bourse, Bursa Malaysia sign Islamic finance MoU

16 Feb 2010 14:37 The Bahrain Financial Exchange and Bursa Malaysia signed an agreement to study a common platform on which Islamic finance products such as commodity murabahas can be traded. Malaysia's stock exchange launched a platform last year on which murabaha...

IdealRatings service empower and enable Khalijia Invest’s portfolio Managers

15 Feb 2010 08:27 Press ReleaseSan Francisco, USA-Riyadh, Saudi Arabia, Feb., 15th, 2010 – Khalijia Invest, a leading global Shari’ah compliant investment firm chaired by HH Prince Sultan Bin Mohammad bin Saud Al Kabeer and regulated by the Capital Markets Authorit...

Islamic Finance and Microfinances: Lessons for the Global Financial Crisis

13 Feb 2010 01:01 As the global financial crisis continues without any clear end in sight, some pundits are starting to question the very basics of the financial system a free market economy, globalization, deregulation and so on. While the debate may do little to...

Total provisions booked by GCC banks since start of crisis reached $11.7b

12 Feb 2010 18:34 KIPCO Asset Management Company (KAMCO) Research Department had carried out a presentation of the performance of GCC banking sector by analysing the financial statements for 58 banks with the purpose of shedding the light on the repercussions of t...

Shariah-compliant loans available for oil business

12 Feb 2010 18:27 The limited availability of capital through conventional sources makes it all the more important that the oil and gas industry, in particular, consider alternative financing products. Shariah-compliant finance has the potential to unlock largely u...

Saudi Alinma Bank sees Q4 net profit fall

12 Feb 2010 18:18 Newly launched Saudi bank Alinma said on Saturday its fourth quarter net profit fell 85 percent from the previous quarter due to increased operational costs.

PQFTL, EGIBL & FWU AG launch BancaTakaful product

12 Feb 2010 18:15 Emirates Global Islamic Bank has launched a BancaTakaful product ‘Sarparast Family Takaful Plan’ in collaboration with Pak-Qatar Family Takaful and FWU AG a global facilitator of BancaTakaful.

Statement from Dubai Bank

12 Feb 2010 18:13 Dubai Bank confirmed today that its current Chief Executive Officer, Salaam Al Shaksy, will be leaving the Dubai-based Shari'a-compliant financial institution to assume the role of Chief Executive Officer at National Bank of Oman.

Zamil Industrial Signs Murabaha Facility with NCB for one of its Subsidiaries

12 Feb 2010 17:59 Eastern District Cooling Co. Ltd., a wholly-owned subsidiary of Zamil Industrial Investment Company (Zamil Industrial), has signed with The National Commercial Bank (NCB), the first non-recourse project financing done in the region for a district...

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