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Islamic finance continues to thrive in Asia

From 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...)

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Islamic currency for Kelantan

From 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...)

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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...)

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RAM reaffirms AAA ratings of PLUS' Sukuk Musharakah

From 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...)

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Standard Chartered plans Sharia contracts

From 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...)

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Islamic banking on the path of celebrity

From 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...)

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Emirates Islamic Bank launches Ramadan Promotion

From 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...)

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ABC Islamic Bank announces US$1.4 mln half-year profit

ABC 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...)

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First Energy Bank posts $6mln H1 profit

From 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...)

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Al Baraka Banking Group profit up 3pc to $95mln

From 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...)

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Al Baraka continues global expansion

From 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...)

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Amana Funds co-manager talks about faith-based investing

From 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...)

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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...)

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ITFC supports intra OIC trade with more than $1.25 bln in H1

The 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...)

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Moody's places Dar Al-Arkan on review

Moody'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...)

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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...)

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Islamic courses to start at University of Bedfordshire

From 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...)

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Shrinking the Middle East

From 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...)

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