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Reuters Plans Islamic Finance Portal

18 Dec 2009 07:11 The international financial services information company Thompson Reuters is planning to launch a news portal covering information about the Islamic financial industry in early 2010.

Finance: Paris learns to play to the euro’s strengths

18 Dec 2009 07:04 A focus on Islamic finance could also attract sovereign and other funds from oil-rich Gulf states and help provide the investment that France needs.

Islamic syndicated lending

18 Dec 2009 06:57 There has been a significant increase in syndication deals since the start of 2009, with a total of 36 deals announced or closed worth a cumulative total of $9.5bn. If the rest of the year continues as it started it would suggest that total Islami...

Dubai scrambles to restore confidence

18 Dec 2009 06:53 Dubai tries to restore its reputation on Thursday, assuring investors that major property and leisure projects would go ahead and dispatching two top officials on a public relations drive to Washington.

Beltone Financial Holding, EFG-Hermes act as financial advisors in largest syndication to be covered from local banks worth $1.0

17 Dec 2009 14:42 A consortium of four banks namely, National Bank of Egypt, Banque Misr, Arab African International Bank, and Banque du Caire arranged, underwrote and syndicated a facility for the Egyptian Nitrogen Products Company (ENPC).

HSBC Amanah launches the world's first international Islamic premium banking service

17 Dec 2009 14:38 HSBC Amanah today announced the launch of HSBC Amanah Premier - the world's first Islamic banking service aimed at internationally mobile, affluent consumers.

Tamkeen invests in Islamic banking professionals for the future

17 Dec 2009 14:34 Bahrain's emergence as an Islamic banking hub has spurred Tamkeen to put in place an ambitious plan to train 130 Bahraini graduates in Islamic finance and business accounting.

Islamic finance well positioned for GCC recovery

17 Dec 2009 12:45 NCB Capital, the investment banking arm of National Commercial Bank, Saudi Arabia’s largest bank, believes that Islamic finance, an increasingly important element of the GCC financial sector, is well positioned to lead the way in the region’s p...

Bahrain central bank head sees recovery signs

17 Dec 2009 12:17 MANAMA: Despite an early intervention by governments, the global economy has not yet fully recovered. However, the signs of recovery are there and the situation is immeasurably better than a year ago .

Funds distributed for Nakheel bond repayment

17 Dec 2009 12:09 Dubai: Repayment of a $4.1 billion (around Dh15.05 billion) bond issued by Nakheel was set to be completed yesterday, when other Islamic bond issuers reassured investors about their repayment capability in replies to a ‘soundness and health' ch...

Dow Jones Indexes Wins 18th Award for Its Islamic Market Index Series

17 Dec 2009 11:52 The FINANCIAL -- Dow Jones Indexes, a leading global index provider, on December 16 announced that it has been named “Best Index Provider Shari’ah compliant Indexes” by Dubai-based Islamic Business & Finance magazine.

Dubai Financial Support Fund receives USD 10 billion from Abu Dhabi

14 Dec 2009 08:51 The government of Abu Dhabi and the Central Bank of the UAE has announced that it has agreed to provide $10 billion to the Dubai Financial Support Fund.The Dubai Financial Support Fund can therefore enable Nakheel to pay its Sukuk due today.

Nakheel to repay sukuk in next 2 weeks

14 Dec 2009 08:34 Nakheel Development Limited announced via the exchange, Nasdaq Dubai that it aims to repay the Sukuk in the next two weeks. According to the statement it will use funds that will be provided by the Dubai Financial Support Fund.

Westlaw Business Islamic Finance Center expands to include AAOIFI Islamic finance standards

13 Dec 2009 15:32 Westlaw Business, part of Thomson Reuters, and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) today announced their agreement to provide current standards and other Islamic finance industry information for glo...

Dubai Islamic Bank launches Wajaha, exclusive wealth management service

13 Dec 2009 15:06 Dubai Islamic Bank (DIB) announced today the launch of Wajaha, a distinguished wealth management service for ultra high net worth individuals. Tailored to meet the distinct needs of the ultra high net worth clients, Wajaha is an invitation-only se...

CMA's Board of Directors approves creation of arbitration centre and endorses Oman Social Responsibility Initiative

13 Dec 2009 14:56 HE Maqbool Ali Sultan, Minister of Commerce and Industry, Chairman of the Board of Directors of the Capital Market Authority chaired on Saturday the fourth and last meeting of the Board for 2009, which approved a number of proposed amendments to t...

Shari’ah-compliant Structured Trade Finance Fund to be launched by Gatehouse Bank and DDCAP

13 Dec 2009 14:31 Gatehouse Bank will launch a Shari’ah-compliant Structured Trade Finance Fund in early 2010. Parnter is the wholesale Islamic market intermediary company DDCAP. The aim of the fund is to invest capital in structured trade finance transactions.

Brunei’s total sukuk issue tops $2 billion

13 Dec 2009 14:03 THE Ministry of Finance issued $68 million worth of sukuk in two separate floats between November and December, bringing the total sold to more than $2 billion. The Ministry of Finance had completed the successful pricing of its 40th and 41st issu...

How Sharia-compliant is Islamic banking?

12 Dec 2009 11:58 The question was analysed by Mr John Foster of BBC where it was concluded that anything that is not prohibited under the Al-Quran and the As-Sunnah is permissible. The full news is available at the source stated below.

UK: Tax issues under further clarification

11 Dec 2009 09:00 The UK Government has committed to create a level playing field on VAT for retail investors in Islamic finance products. In his Pre-Budget Report statement, the Chancellor, Alistair Darling, says he will also provide relief from tax on capital gai...

Islamic finance fits for Australia

11 Dec 2009 08:24 Australia's wealth of natural resources and financial landscape provide a natural platform for Islamic finance, with potential to attract a new type of global investors. Trailing Muslim neighbours such as Malaysia and Indonesia, Australia is looki...

Islamic finance suffers growing pains

11 Dec 2009 08:03 Robin Wigglesworth reported in the Financial Times that although, the Islamic finance industry may have breached the USD 1,000 billion mark in assets, difficulties arise, in spite of claims that the industry’s model is inherently more robust than...

Zawya Sukuk Report for Free Download

10 Dec 2009 16:36 The Zawya Collaborative Sukuk Report covers the following issues: What is the distribution of current and potential investors and what is their appetite? What is the appetite of the Supply side and what drives their need to issue? Wh...

Funds at Work analysed the Social Responsible Landscape

10 Dec 2009 05:48 Funds at Work, the strategy consultants analysed the Social Responsible Investment industry with their network analysis. Previously the firm did analyse the Sharia Scholars and their board positions. The report regarding the sister industry of Isl...

FT: Future of Islamic Finance

09 Dec 2009 11:59 The Financial Times produced a special looking into the Future of Islamic Finance.The download is free of charge.

Nakheel - Event of Default - Legal Issues?

04 Dec 2009 05:31 Dear Readers,An article in the Financial Times, has discussed the legal issues surrounding to an eventual Event of Default of the Nakheel Sukuk, which can be read here:http://www.ft.com/cms/s/0/215c0502-e038-11de-8494-00144feab49a.html Some commen...

Dubai World and Nakheel Sukuk - What did the prospectus say?

27 Nov 2009 05:26 Dear Readers,some background on the standstill: Sukuk prospectus of the related Nakheel entity:http://blogs.thenational.ae/economy_blog/Nakheel%20Development%201%20Pro... citation:"Risks Relating to the Co-Obligors and the Co-Obligor Group S...

S&P: Several Dubai Government-Related Entities Downgraded

26 Nov 2009 09:53 Press Release Several Dubai Government-Related Entities Downgraded And On Watch Negative FollowingDebt Restructuring Announcement DUBAI (Standard & Poor's) Nov. 25, 2009--Standard & Poor's Ratings Services said it had taken rating actions...

IslamicFinance.de upgrades Server

06 Nov 2009 12:12 IslamicFinance.de is moving to a new server with more capacity and speed. However, the transfer of the domain will take sometime. While you get better performance and more news thereafter, for the transition period no new accounts could be opened.

Presentation Islamic Mortgage models for the German market

31 Oct 2009 10:51 The Central Council of Muslims in Germany presented on the BAFIN Islamic Finance conference how mortgages for the Muslim community could look like, how large the market is and challenged the perception that there would be a need to change laws to...

German BAFIN welcomes application for Islamic banking license

29 Oct 2009 23:49 The German banking regulator, BAFIN, held today a conference about Islamic finance with strong international participation and about 200 guests. BAFIN president, Mr Sanio, says that Germany makes it easy to obtain a licence to sell the products, w...

3rd World Congress of Muslim Philanthropists: Call for Submissions

26 Oct 2009 05:50 “BUILDING A BETTER WORLD”New Horizons - Sound StrategiesThe Ritz Carlton – Doha, QatarMarch 21-22, 2010CALL FOR SUBMISSIONSDeadline: November 30, 2009The annual conference of World Conference of Muslim Philanthropists, now recognized as the most p...

Islamic and Conventional Banks in the GCC: How Did They Fare?

24 Oct 2009 10:28 Excerpt from the IMF report "Which group of banks is better-positioned to withstand adverse shocks? With larger capital and liquidity buffers, Islamic banks are better-positioned to withstand adverse market or credit shocks. On average, Isla...

IFC lists USD 100 mn Sukuk in Dubai and Bahrain

22 Oct 2009 09:38 The International Finance Corporation (IFC), the multilateral development bank, will list a USD 100 mn 5-year Sukuk in Dubai and Bahrain. The IFC plans to return to the market with new issuances every 12 months to 18 months.

WCMP Launches Multi-Donor Giving Circle to Combat Hunger and Poverty

16 Oct 2009 09:43 PRESS RELEASEWashington, DC, October 16, 2009The World Congress of Muslim Philanthropists (WCMP) is launching its first multi-donor giving circle—the “Hasanah Fund”—to develop and implement new, sustainable programs to combat world hunger and pove...

S&P Outlines Factors That Could Affect Its View Of The Likelihood Of Government Support For Dubai-Based GREs

15 Oct 2009 10:45 Press ReleaseDUBAI, October 15, 2009--A report published today by Standard & Poor's Ratings Services answers questions related to its view on the likelihood of extraordinary government support for Dubai-based government related entities (GREs)...

HM Treasury: Legislative framework for the regulation of alternative finance investment bonds (Sukuk)

14 Oct 2009 16:19 On 14 October 2009 HM Treasury published a feedback statement to the consultation regarding regulation of Sukuk.The document summarises the responses received to the above consultation, and provides feedback on these.Further feedback to HM Treasur...

SCBP, PQFTL and FWU AG sign agreement to provide Takaful products through their network!

07 Oct 2009 13:21 Press ReleaseKarachi, October 7: Standard Chartered Bank Pakistan (SCBP), the largest international Bank in Pakistan, has signed a strategic cooperation agreement with Pak-Qatar Family Takaful, Pakistan’s first and largest family Takaful operator,...

S&P: Abu Dhabi's TDIC Sukuk Ltd. Assigned prelimary rating 'AA'

01 Oct 2009 12:52 Press Release of S&P:We are assigning our preliminary 'AA' rating to TDIC Sukuk Ltd.'s certificates issuance program, under which it can issue up to $1.45 billion certificates (sukuk al-ijara).The rating is equal to, and is fully reliant on, t...

Islamic Finance in North America

29 Sep 2009 12:01 Yasaar media published a new report called Islamic Finance in North America 2009 for free download, which is co-published by Codexa Capital, UM Financial Group, King & Spalding, and Doha Islamic.According to the report Islamic finance in North...

Free Report: Islamic Investment Banking

29 Sep 2009 10:09 Yasaar Media published a report about Islamic Investment Banking for free download, with the co-publishers Unicorn Investment Bank, Doha Islamic covering data and principles regarding Private Equity, Venture Capital, syndicated lending, real estat...

Special Issue - Call for Papers on Financial Crisis

24 Sep 2009 13:32 The International Journal of Islamic & Middle Eastern Finance and Management has decided to publish a special issue of the journal, focusing on the latest financial crisis, and how this has related to Islamic financial institutions.Other relev...

Research Study: Food security in an environment of increasing scarcity

24 Sep 2009 12:13 The research think tank of Deutsche Bank published recently a research study with the title:"The global food equation"stating the challenge for future food security. DB Research believes that still believes that the growing population ca...

Eid Mubarak

21 Sep 2009 09:44 IslamicFinance.de wishes Eid Mubarak to all Muslims in the world. May our creator guide us in financial matters and structures and enlarge our knowledge.The EditorMichael Saleh Gassner

New Islamic bank: Warba Bank, Kuwait - shares distributed to Kuwaitis for free

16 Sep 2009 15:45 The Cabinet's approval of a draft decree establishing Warba Bank, with a capital of KD 100 million of which a 76 % stake will be held by citizens and subscribed to on their behalf by the government and 24 % of its stocks held by Kuwait Investment...

Islamic syndicated lending

16 Sep 2009 14:01 The concept of syndicated lending may have been born in the 1960s in the world of conventional finance but it was not until earlier this decade that it found its way into the Islamic finance lexicon. Syndicated loans are quite simply an integral p...

KuveytTürk receives branch license in Germany

09 Sep 2009 15:12 KuveytTürk, the Turkish Islamic bank, has received according to Turkish media a license to operate as a financial service branch.

BNP Paribas aims to raise USD 300 mn for Private Equity Fund

08 Sep 2009 21:12 French bank BNP Paribas may raise as much as USD 300 mn for a Gulf-based private equity fund, according to a Reuters report. The fund has been set up to tap into opportunities arising from the financial crisis.

Tharawat to raise USD 100 mn in 2009 for sukuk fund

08 Sep 2009 21:09 Bahrain-based Islamic investment house Tharawat said it plans to raise USD 100 million by year-end for a sukuk fund it recently launched to focus on bargains on the secondary market.Tharawat was established in July 2008 with a paid-up capital of $...

Kuwait central bank appoints monitor for Investment Dar

08 Sep 2009 21:07 Kuwait's central bank appointed a temporary supervisor to monitor debt restructuring and compilation of financial results at Islamic firm Investment Dar.

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