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Yemen plans to issue Islamic bonds soon

Yemen, the Arab world’s poorest country, plans to issue Islamic bonds soon to finance government projects, Central Bank Governor Mohamed Awad Bin Humam said. (more...)

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Goldman Sachs caught in a Sharia Catch-22

In September 2011, Goldman Sachs announced it would issue a $2 billion Shariah Compliant Islamic Bond derivative known as a "Sukuk" to finance its current business operations. (more...)

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DIFCI hires Moelis for options on $1.25bln Sukuk

DIFC Investments (DIFCI), the investment arm of the firm that runs Dubai’s financial free zone, has hired US investment bank Moelis & Co to advise on options for a $1.25bn Islamic bond maturing in June, three sources familiar with the matter said.  (more...)

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Al Hilal launches debut Sukuk fund

The flagship fixed-income fund's objective is to generate regular income as well as achieve capital appreciation by investing in globally-diversified Shari’ah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organisations.  (more...)

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Saudi’s Almarai to start Sukuk roadshow this week

Saudi Arabia's Almarai Co, the Gulf's biggest dairy firm by market value, plans to start a roadshow this week to issue a riyal denominated sukuk, or Islamic bond, the firm said in a bourse statement on Saturday. (more...)

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HSBC Saudi Arabia launches Amanah Sukuk Fund

The fund aims to provide investors with income-stabilising and potential growth over the medium-to-long term by investing in local and international Sukuks. (more...)

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KFH Turkish unit plans lira Sukuk this year

Kuwait Finance House's Turkish bank Kuveyt Turk, which issued a $350 million sukuk last year, may issue a lira sukuk in Turkey this year, Murat Cetinkaya, Kuveyt Turk deputy chief executive, told Reuters. (more...)

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Maxis may pay special dividend following Sukuk issuance

A special dividend could be on the cards if the working capital portion of Maxis Bhd’s RM2.45bil sukuk issuance is allocated to shareholders, said analysts. (more...)

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Bank Indonesia will purchase Sukuk to help stabilize bond market

Indonesia’s central bank will buy Islamic government debt to help prevent volatility in the bond market and to increase Shariah-compliant financial instruments, Bank Indonesia said in a statement on its website. (more...)

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Islamic wealth management: Fortunes of the rich will reach USD 162 trillion in 2015

KFH-Research prepared a report about Islamic wealth management industry around the world. It stated that this industry has great growth potentials during the coming years, in light of the growing number of rich Muslims, constant growth of Islamic assets, and the increasing demand for Shariah compliant services and products in Islamic and non-Islamic countries. It revealed that the volume of Islamic assets reached USD 1.3 billion by the end of last year. (more...)

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Oman’s CMA to favour standalone Takaful companies over windows

Oman’s Capital Market Authority (CMA) has revealed to The Times of Oman that it will favour standalone Takaful companies, which is against the window operations proposed for conventional banks. (more...)

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Tamkeen and BisB sign finance deal

Tamkeen has signed an agreement with Bahrain Islamic Bank (BisB) under which it will add BD10 million ($26.5m) to its Enterprise Financing Scheme, which it offers in partnership with leading financial institutions in the kingdom. (more...)

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Moot on Islamic banking

Meezan Bank organised an awareness seminar on Islamic banking the other day here at Wazirabad. Consultant Product Department and Sharia of Meezan Bank, Umar Ahmad from Karachi said, “Trade and Riba can not be discussed because there is clear order about illegality of interest and legality of trade by the Almighty Allah”.  (more...)

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BSN Islamic growth target

Bank Simpanan Nasional Bhd (BSN) hopes to sustain a 10 per cent growth in new account holders for all its Islamic banking product this year. The target is based on the good response from BSN's Islamic banking customers, comprising not only Muslim customers but also non-Muslims. (more...)

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Saudi's Dar al-Arkan to repay $990 mln debt this year

Saudi Arabia's biggest property developer, Dar al-Arkan, plans to repay about 3.7 billion riyals ($986.6 million) of debt this year, its chief financial officer said on Sunday. (more...)

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Islamic finance for investment managers - Five steps to creating a Shariah compliant portfolio

According to the Global Islamic Finance Report 2011,1 the Islamic finance industry is valued at $1.14 trillion across more than 70 countries and is growing at an annual rate of 10%. It has been performing extremely well since its creation 40 years ago, and its expansion has accelerated in the past few years, within emerging economies around the world but also in non-Muslim majority regions like Europe.  (more...)

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