Posted on 09 February 2010 by Laxman
From Forexpros.com: The global financial crisis has intensified a push for Islamic finance to “return to its roots” and move further away from conventional banking, but some warn that more originality could alienate investors. [more]
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Posted on 09 February 2010 by Laxman
From Gulfnews.com: Sales of Islamic bonds may increase 24 per cent this year, led by Southeast Asia, as the region’s expansion helps drag the world out of recession, said CIMB Group Holdings Bhd., the leading arranger of such issuance. [more]
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Posted on 09 February 2010 by Laxman
From Dawn.com: Indonesia has sold more than 850 million dollars worth of Islamic bonds to domestic retail investors, exceeding its target by more than two and half times, officials said Monday. [more]
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Posted on 09 February 2010 by Laxman
From Alibaba.com: Indonesia raised 8.033 trillion rupiah ($856.3 million) from the sale of a three-year retail sukuk, a finance ministry official said on Monday, more than double the indicative target of 3 trillion rupiah. [more]
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Posted on 09 February 2010 by Laxman
From Tradearabia.com: Saudi Arabia’s Dar Al-Arkan Real Estate will likely issue a five-year fixed rate Islamic bond worth between $500-750 million by the end of the week, two bankers with knowledge of the deal said on Monday. [more]
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Posted on 09 February 2010 by Laxman
From Theedgemalaysia.com: With the normalisation of external conditions, a steadily recovering domestic economy and expectations that Bank Negara Malaysia (BNM) will keep its benchmark rates intact until the second half of 2010, RAM Ratings Bhd believes that it is an opportune time for corporates to raise funds, whether for new funding, refinancing or building up their war chests. [more]
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Posted on 09 February 2010 by Laxman
From Arabianbusiness.com: Consulting giant Deloitte has opted to site its new Islamic Finance Knowledge Centre (IFKC) in Bahrain to take advantage of a sector that has averaged a 15-20 percent annual growth rate over the last five years. [more]
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Posted on 09 February 2010 by Laxman
From Arabnews.com: A US dollar-denominated, open-ended, Shariah-compliant fund was launched Monday in Riyadh by NCB Capital, the investment banking arm of National Commercial Bank (NCB), the largest commercial bank in the Kingdom. [more]
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Posted on 09 February 2010 by Laxman
From Zawya Dow Jones: Dubai-based Tamweel PJSC reported a net profit of 11 million U.A.E dirhams ($3 million) in the fourth quarter, compared with a net loss of AED112.4 million in the year-earlier period, on lower costs of funding. [more]
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Posted on 09 February 2010 by Laxman
From Reuters: Islamic banks are expected to move more deeply into riskier, equity-based financing as they seek alternatives to controversial debt mechanisms like the tawarruq, a prominent sharia scholar said on Monday. [more]
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Posted on 09 February 2010 by Laxman
From Cpifinancial.net: QNB Al Islami and Qatar’s Ministry of Awqaf & Islamic Affairs have signed an agreement to launch “Thimaar”, a new e-payment system that will be distributed in the form of prepaid cards to beneficiaries of the Ministry’s Sandoq Al-Zakat programme. [more]
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Posted on 09 February 2010 by Laxman
From Thestar.com.my: The National Bank of Abu Dhabi (NBAD), one of the United Arab Emirates’ (UAE) biggest banks, plans to start commercial banking operations in Malaysia following the Government’s move to liberalise the financial services sector. [more]
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Posted on 09 February 2010 by Laxman
From Ameinfo.com: Qatar Islamic Bank announced a QR1.32bn net profit for the 2009 fiscal year. The profit stemmed mainly from operating revenues and represents a 23% growth rate from 2008. [more]
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Posted on 09 February 2010 by Laxman
From Reuters: Saudi-based Islamic Development Bank had lent Tunisian $46 million to finance a gas supply project, officials said on Monday. [more]
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Posted on 09 February 2010 by Laxman
From Pattayadailynews.com: We held an exclusive interview with the Vice President, Mr. Zati Sankhavanija, who has been involved in of banking for the last seven years here in Thailand, concentrating heavily on the retail side and automatic banking systems. [more]
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Posted on 09 February 2010 by Laxman
From Arabnews.com: The Central Bank of Kuwait (CBK) on Monday cut its one-week and one-month repurchase rates by 25 basis points each in a bid to expand money supply, a day after reducing the benchmark discount rate. [more]
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Posted on 09 February 2010 by Laxman
From Arabianbusiness.com: UAE’s Shuaa Capital aims to triple its fee income in the next three years, as the investment bank focuses on its domestic market and Saudi Arabia, which it hopes will make the bank profitable again in 2010. [more]
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Posted on 09 February 2010 by Laxman
From Gazeta.kz: The conference, organized by Cbonds Information agency, will be a pioneering event featuring discussions on how to strengthen Islamic financing in the region. [more]
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Posted on 09 February 2010 by Laxman
ACCA Ireland (Association of Chartered Certified Accountants) is welcoming the facilitation of Islamic Financing included in the Finance Bill. [more]
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Posted on 09 February 2010 by Laxman
From Thejakartaglobe.com: Islamic banks are expected to move more deeply into riskier, equity-based financing as they seek alternatives to controversial debt mechanisms like the tawarruq , a well known Shariah scholar says. [more]
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Posted on 09 February 2010 by Laxman
From Thefinancialdaily.com: Muslims cannot ignore the fact that they live, trade and communicate with open global systems, and they cannot ignore the need for banking and insurance. Takaful is an Islamic Insurance concept governed by Islamic rules and regulations (Shariah). [more]
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Posted on 09 February 2010 by Laxman
The rapid growth of the global Islamic banking market over the last five years has boosted the demand for specialised Islamic banking and finance software solutions, reports Misys plc, the global application software and services company. With the influx of mainstream banking institutions, particularly leading Western brands, into Islamic banking throughout the world, the support from specialist solution vendors has become a necessity to ensure a smooth transition to Shariah-based banking. [more]
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