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DBS makes partial retreat from Islamic banking

From Reuters: DBS Group, Southeast Asia's largest lender, is shrinking its Singapore-based Islamic unit in yet another sign that the city-state's efforts to promote sharia banking is struggling. (more...)

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Islamic funds fail to build scale: E&Y

From Business24-7.ae: Most Islamic fund managers are struggling to build scale amid a decline in average fees which have dropped by almost 25 per cent over the past few years, according to a study by Ernst & Young. (more...)

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Islamic funds stagnate at $52.3bln in 2009: report

From Gulf-times.com: Global Islamic fund assets stagnated at $52.3bn in 2009, remaining at almost the same level as the $51.4bn posted in 2008, said Ernst & Young in its fourth annual ‘Islamic Funds and Investment Report’. (more...)

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Optimism rises in the GCC for Islamic bonds

From Africasia.com: Analysts are predicting a sharp rise in the market for Islamic bonds. The Gulf states are already attracting substantial inflows of international capital and predictions are that the market for Islamic finance could eventually reach $5 trillion. (more...)

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Islamic finance in desperate need of high-quality scholars

From Gulfnews.com: The Islamic Finance market is in desperate need of high-quality scholars who will help to grow the industry, Islamic banking industry specialists said yesterday at the Menasa Forum in Dubai. Conventional banking has strict regulations, and Islamic banking has its Sharia scholars. (more...)

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Diverse products and adequate regulation needed to revitalise growth for Islamic investments

From Cpifinancial.net: Bursa Malaysia feels that there is a strong need for diverse products that match different investors' appetites, supported by an adequate amount of regulatory oversight championing public interest, in order to create a more appealing Islamic investment landscape. (more...)

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Malaysia launches five-year Islamic overseas bonds

From Cbonds.info: Malaysia may sell more than $600 million of five-year Islamic bonds, the country's first overseas debt offering in almost eight years, according to Barclays Capital as the prime minister officially launched the sale. (more...)

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Kenya sees potential of Islamic banking

From Thenational.ae: Kenya is considering allowing Islamic financial products as the east African country tries to tap into funding from the Middle East. (more...)

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AUB steps into Islamic banking

From Arabtimesonline.com: Hamad Abdul Mohsen Al Marzooq, Chairman and Managing Director of Ahli United Bank (AUB), said that the conversion phase into a bank operating in accordance with Islamic Shari’ah provisions required the cooperation with a group of partners who could meet the needs of the Bank and its customers, and complete the conversion process within the time frame set out the Central Bank of Kuwait and according to its instructions related to the Islamic banks business. (more...)

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Sharjah Islamic Bank and MasterCard ink strategic collaboration

From Ameinfo.com: Sharjah Islamic Bank (SIB) has signed a strategic agreement with MasterCard Worldwide to issue MasterCard debit and credit cards.  (more...)

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BBK eyes better market conditions for bond

From Tradearabia.com: Bahrain-based BBK will issue a bond "any time the market permits", the bank's chief executive said on Monday, having held investor meetings last week. (more...)

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Bangladesh: Govt's role for assisting growth of Islamic finance lauded

From Thefinancialexpress-bd.com: Influential financial institutions of the world including IDB thanked the government, especially the central bank, for assisting the growth of the Islamic financial services industry (IFSI) in the country through creation of requisite conducive environment. (more...)

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Islamic finance set to be a $ 2 trillion industry globally within five years

From Globalarabnetwork.com: Islamic Finance is all set to be a $ 2 trillion industry in the next half a decade according to Rushdi Siddiqui, Global Head of Islamic Finance, Thomson Reuters. (more...)

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New insights based on findings from the recently launched Ernst & Young Islamic funds and investments report (IFIR) 2010 to be discussed at the WIBC

The Ernst & Young Islamic Funds and Investments Report (IFIR) 2010, which was launched today at the 6th Annual WIFCMC in Bahrain, will also be a key topic of discussion by the delegates attending the inaugural Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2010). (more...)

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Bahrain sovereign debt reaches $2.23bln, may issue Sukuk

From Zawya Dow Jones: Bahrain's sovereign debt stands at $2.23 billion, the highest in the country's history, representing 17.2% of gross domestic product, Manama-based Al Wasat daily reports Monday, citing public data. (more...)

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On the road to recovery - Bahrain learning lessons

From Globalarabnetwork.com: While Bahrain's economy is well along the road to recovery, rebounding after last year's slowdown, there are growing concerns that this journey may be affected by the rising debt crisis in Europe, with a possible impact on the Kingdom's Islamic financial sector. (more...)

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