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Islamic finance continues to thrive in AsiaFrom Channelnewsasia.com: The global Islamic bonds or sukuk issuance market for the first half of 2010 has doubled on-year to US$20 billion. Sukuk volume in 2007 was about US$24 billion in the first half, a record year. (more...) Email Add Comments More stories about: Finance, Performance
Islamic currency for KelantanFrom Straitstimes.com: A Malaysian state on Thursday launched the Islamic dinar and dirham as an alternative currency, allowing the golden and silver coins to be used as legal tender alongside conventional banknotes. (more...) Email Add Comments More stories about: Market Moves, New Launches
DIFC Investments’ Sukuk rally ‘gone too far’From Bloomberg: The two-month rally in DIFC Investments LLC’s Islamic bonds is ending on concern the Dubai state-controlled developer will struggle to meet payments on more than $3 billion of debt. (more...) Email Add Comments More stories about: Bonds (Sukuk), Finance
RAM reaffirms AAA ratings of PLUS' Sukuk MusharakahFrom Bernama: RAM Rating Services Bhd has reaffirmed the AAA ratings of Projek Lebuhraya Utara-Selatan Bhd's (PLUS) RM3.55 billion senior sukuk, RM2.26 bilion Sukuk Musharakah Series 1, RM2.41 billion Sukuk Musharakah Series 2 and RM4.5 billion Sukuk Musharakah Medium-Term Notes Programme. (more...) Email Add Comments More stories about: Bonds (Sukuk)
Standard Chartered plans Sharia contractsFrom Gulfnews.com: Standard Chartered Plc, the UK bank that earns most of its profit from emerging markets, plans to introduce Sharia-compliant contracts in Asia to hedge against changes in commodity prices. (more...) Email Add Comments More stories about: Banking, Financial Instruments (Credit Cards, Debts, Loans, Mort, New Launches
Islamic banking on the path of celebrityFrom Aawsat.com: Ever since the Islamic Banking system survived the global financial crisis it has become the focus of the financial world with regards to university and research studies to traditional media coverage. (more...) Email Add Comments More stories about: Banking, Emerging Trends
Emirates Islamic Bank launches Ramadan PromotionFrom Albawaba.com: Emirates Islamic Bank get into the spirit of Ramadan by launching INTALEQ (Vehicle Finance) Promotion. This new Sharia-compliant vehicle finance promotion will run until the end of September 2010, giving its customers an easier way to gift themselves a car during this auspicious time of the year. (more...) Email Add Comments More stories about: Banking, Market Moves
ABC Islamic Bank announces US$1.4 mln half-year profitABC Islamic Bank announced a net profit of $1.4 million for the first half-year of 2010. Net loss for the second quarter was $0.4 million compared to profit of $1.8 million in the first quarter, primarily due to impairment provisions. (more...) Email Add Comments More stories about: Banking, Performance
First Energy Bank posts $6mln H1 profitFrom Tradearabia.com: Bahrain-based First Energy Bank (FEB), a leading Islamic investment bank, has posted a net profit of $6 million for the first half of the year, an increase over the $5.6 million achieved during the same period last year. (more...) Email Add Comments More stories about: Banking, Performance
Al Baraka Banking Group profit up 3pc to $95mlnFrom Tradearabia.com: Bahrain-based Al Baraka Banking Group (ABG) has witnessed moderate growth during the first half of this year with the group net income increasing 3pc to reach $95 million. (more...) Email Add Comments More stories about: Banking, Performance
Al Baraka continues global expansionFrom Gulfnews.com: Bahrain-based Al Baraka Banking Group (ABG) has lenders in Malaysia and Indonesia in its sights as it seeks to continue global expansion, president and chief executive Adnan Yousuf said. (more...) Email Add Comments More stories about: Banking, Market Moves
Amana Funds co-manager talks about faith-based investingFrom Mysanantonio.com: The biggest industry that we avoid, based on Islamic rules, is the banking and insurance sector, from Islam's prohibition of interest. But the market's slowly grown over the past decade or so from being primarily for the Muslim community. (more...) Email Add Comments More stories about: Funds, Investment, People
Islamic Innovation award from Malaysian Government for Bursa Suq Al-Sila'From Cpifinancial.net: The Malaysian Ministry of Science, Technology and Innovation (MOSTI) conferred the inaugural ‘Islamic Innovation Award’ to Bursa Suq Al-Sila’ for being the first Shari’ah compliant trading platform to facilitate Islamic financing worldwide. (more...) Email Add Comments More stories about: Performance
ITFC supports intra OIC trade with more than $1.25 bln in H1The International Islamic Trade Finance Corporation, ITFC, a member of the Islamic Development Bank Group, announced that it carried out 36 trade finance operations with a total value of $1.253 billion in favour of 16 countries during the first half of 1431 (2010). (more...) Email Add Comments More stories about: Banking, Performance
Moody's places Dar Al-Arkan on reviewMoody's Investors Service has placed on review for potential downgrade the Ba2 ratings for Dar Al-Arkan Real Estate Development Company, Saudi Joint Stock Company (DAAR), Dar Al-Arkan International Sukuk Company II (DAAR ISC II) and the $450m certificates (sukuk). (more...) Email Add Comments More stories about: Bonds (Sukuk), Market Moves
India: Equity Intelligence launches 'Shariah PMS'From Business-standard.com: Leading Sebi registered Portfolio Manager in India, Equity Intelligence, today launched portfolio management services 'Shariah PMS' for Islamic investors, targeting 500 customers in the first year. (more...) Email Add Comments More stories about: Capital Market (Equity, Mutual Funds), Investment, New Launches
Islamic courses to start at University of BedfordshireFrom BBC: Two new courses are set to begin at the University of Bedfordshire. The courses will recognise the increase in demand for Islamic financial products and services. They will guide students through the principles of Islamic finance and the theory of Islamic commercial practice which is based on Shari'ah Law (more...) Email Add Comments More stories about: Finance, New Launches
Shrinking the Middle EastFrom Time: Since no policy open to it can make the Middle East safe for the U.S. and the world, the Obama Administration should act to make the world safe from the pathologies of the Middle East. It can do that by making the region less important. (more...) Email Add Comments More stories about: Emerging Trends, Market Moves, Research
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