Sun, Jan 17, 2021
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Archive | May, 2009

The Gulf’s nascent bond market: Crisis and opportunity

Posted on 29 May 2009 by Laxman  |  Email|Print

From Economist.com: After the 1997 Asian crisis Malaysia, bruised by what its government saw as the buccaneering spirit of Western capitalism, threw itself into Islamic finance with renewed vigour. Bahrain hopes to follow a similar path.
The credit crunch did not come a moment too soon, as far as Manama was concerned. It has breathed new life into a regional market for bonds—both Islamic and conventional ones—and Bahrain has ambitions to be a hub for issuance and secondary trading…….Full Article: Source

Islamic Dev. Bank may hike bond to $6 bln

Posted on 29 May 2009 by Laxman  |  Email|Print

From Maktoob.com: The Islamic Development Bank (IDB) said it may raise the size of its Islamic bond program to $6 billion to soften the impact of global financial turmoil on its members, which include some of the world’s poorest nations.

“The bank is in great need to issue these sukuk (Islamic bonds) to attract resources from the market and respond to the growing demands it is getting from its member states,” Chairman Ahmed Mohammed Ali told Reuters…….Full Article: Source

Malaysian regulator rejigs Islamic stocks list

Posted on 29 May 2009 by Laxman  |  Email|Print

From Reuters: Malaysia’s capital market regulator said on Thursday it has revised its list of Islamic stocks on the stock exchange to add 13 and drop one.

As part of a regular exercise that takes place twice a year, the Securities Commission revised its list of sharia compliant stocks to 848 or 88 percent of securities listed on Bursa Malaysia…….Full Article: Source

Malaysia sets aside $1.7bln for Islamic speculation

Posted on 29 May 2009 by Laxman  |  Email|Print

From Sukuk.net: The Malaysian government is setting aside a sum of USD 1.72 billion for the Sharia-compliant venture capital sector, in a bid to boost global Islamic financing, a top official told KUNA Wednesday.

Deputy Finance Minister Awang Adek Hussin said there is constant growth in international interest in Islamic investment, and particular rise in demand for Islamic Sukouk…….Full Article: Source

Financial crisis presents opportunity for Islamic banks

Posted on 29 May 2009 by Laxman  |  Email|Print

From Zawya.com: The financial crisis presents an opportunity for Islamic banks based in some of the Gulf States according to a new report from the London School of Economics and Political Science (LSE) released today (Thursday 28 May).

The report The development of Islamic finance in the GCC, authored by Professor Rodney Wilson (1), points out that the Islamic banks have been less adversely affected than the major international banks by the 2008-9 crisis, making them more attractive to investors…….Full Article: Source

Some Islamic banks impose new fee

Posted on 29 May 2009 by Laxman  |  Email|Print

From Gulfnews.com: Some Islamic banks have imposed a maintenance fee of Dh25 on all saving accounts which have a balance of less than Dh3,000.

They also started handling these accounts like current accounts, which earn no interest……Full Article: Source

S&P affirms QIC ratings in long term

Posted on 29 May 2009 by Laxman  |  Email|Print

From Gulf-times.com: Global credit rating agency Standard and Poor’s (S&P) yesterday affirmed its ‘A’ long term counterparty credit and insurer financial strength ratings on Qatar Insurance Company (QIC) with a stable outlook.

Although the ratings reflected the relatively strong capitalisation, S&P, however, said QIC, like its peers, had not been immune to the deterioration in global investment markets as well as the regional and international macroeconomic downturn…….Full Article: Source

Malaysian Sukuk market’s revival seen

Posted on 29 May 2009 by Laxman  |  Email|Print

From Sukuk.net: The local Sukuk market, which suffered a huge drop in volume due to the global economic meltdown, should recover with issuance of not less than RM30 billion (US$8.53 billion) this year, said Mohd Effendi Abdullah, director and head of Islamic capital market at Aminvestment Bank.
Last year, Malaysia only issued RM22 billion (US$6.26 billion) worth of Sukuk…….Full Article: Source

Omani investors plan $100mln fund

Posted on 29 May 2009 by Laxman  |  Email|Print

From Tradearabia.com: Private investors in Oman plan to set up a fund company with $100 million in capital that would take stakes in Omani government projects abroad, the president of Oman’s Chamber of Commerce said on Thursday.

“The aim is to open up employment and increase liquidity in the private sector,” Khalil Al-Khonji said, without giving details on what types of investments the fund would make…….Full Article: Source

Islamic finance training course launched in London

Posted on 29 May 2009 by Laxman  |  Email|Print

From International-adviser.com: The growing influence and practice of Islamic finance has been recognised through the creation of a London-based training programme for industry professionals.

The programme, which was launched by the Lord Mayor of the City of London, Ian Luder, on Wednesday (May 27th), is being run the Islamic Banking Finance Centre UK (IBFC-UK)…….Full Article: Source

Bumi-Commerce gets nod for sukuk

Posted on 29 May 2009 by Laxman  |  Email|Print

From Btimes.com.my: Bumiputra-Commerce Holdings Bhd, Malaysia’s second-largest bank, said it received approval from the Securities Commission for the sale of as much as RM2 billion (US$570 million) of Islamic bonds.

Proceeds from the bond issue will be made available to CIMB Islamic Bank, a unit of Bumiputra-Commerce, the bank said in a statement to the Malaysian stock exchange today…….Full Article: Source

Saudi Finance Minister urges private sector to boost cooperation

Posted on 29 May 2009 by Laxman  |  Email|Print

From Menafn.com: Finance Minister Ibrahim Al-Assaf yesterday commended the efforts of the Islamic Development Bank (IDB) in strengthening partnerships with the private sector and for its vast expertise in exploring project viability.
Addressing a ceremony organized by the bank to launch its business forum entitled “Thiqah,” the minister also noted IDB’s endeavors to boost the economic and social development of member countries…….Full Article: Source

UAE pullout won’t derail FX union: Saudi

Posted on 29 May 2009 by Laxman  |  Email|Print

From Tradearabia.com: The United Arab Emirates’ withdrawal from a Gulf monetary union will not derail the region’s single currency plan, Saudi Arabia’s central bank governor said on Wednesday.

‘I don’t believe that the withdrawal will affect it (monetary union) because there are still four countries that are excited about it,’ Muhammad Al-Jasser said at a meeting in the Red Sea port city of Jeddah…….Full Article: Source

Islamic inter-bank trading contracts finalised

Posted on 29 May 2009 by Laxman  |  Email|Print

From Thenews.com.pk: Islamic banks in Pakistan have come up with two types of inter-bank trading agreements in their effort to develop a proposed Sharia-compliant inter-bank market.

Inter-bank Musharaka and Inter-bank Wakala agreements were finalised as standard contracts for the Islamic banking industry by Sharia advisers and product development experts of Islamic banks in a meeting held recently, Meezan Bank, which hosted the meeting, said on Thursday…….Full Article: Source

Building Asean Islamic hub

Posted on 29 May 2009 by Laxman  |  Email|Print

From Bt.com.bn: Indonesia just hosted the third Asean annual meeting of syariah economic experts in Jakarta, raising the question as to where syariah banking is going and how to avoid the heady heights of high finance that brought down the Western banks. Or will syariah banking fly too high and make the same mistakes?

Understandably Syafii Antonio, CEO of the Tazkia Group, wants syariah banking to go global. “To develop the syariah financial system, we have to go global. And for that we need to secure our transactions under syariah law. So the meeting discussed the idea of syariah-compliant currency exchange swaps, and the possibility of an Islamic single currency to back trade.”……Full Article: Source

Prospect of Islamic Banking in ASEAN countries

Posted on 29 May 2009 by Laxman  |  Email|Print

From Ittefaq.com: Indonesia just hosted the third ASEAN annual meeting of sharia economic experts in Jakarta, raising the question as to where sharia banking is going and how to avoid the heady heights of high finance that brought down the Western banks. Or will shariah banking fly too high and make the same mistakes?

Understandably Syafi Antonio, CEO of the Tazkia Group, wants sharia banking to go global. “To develop the sharia financial system, we have to go global. And for that we need to secure our transactions under sharia law”. So the meeting discussed the idea of sharia-compliant currency exchange swaps, and the possibility of an Islamic single currency to back trade…….Full Article: Source

Islamic finance expert: present economic crisis rooted in moral bankruptcy

Posted on 29 May 2009 by Laxman  |  Email|Print

From Kuna.net.kw: A noted Islamic banking and finance expert is warning that unless selfishness, short sightedness and greed are not removed from the global economic system the current financial crisis will get worse.
“Todays financial and economic crisis is rooted in the moral bankruptcy before financial bankruptcy,” Mufti Abdul Qadir Barkatulla, London-based Islamic finance advisor, told the Kuwait News Agency (KUNA), in an interview here today…….Full Article: Source

Bahrain economy wins key vote of confidence

Posted on 29 May 2009 by Laxman  |  Email|Print

From Gulf-daily-news.com: Bahrain’s economic performance and management of the domestic economy has been given a vote of confidence by a leading global rating agency.

International rating agency, Fitch, yesterday reaffirmed Bahrain’s long-term foreign currency Issuer Default Rating (IDR) at “A” and long-term local currency IDR at “A+”, both with stable outlooks…….Full Article: Source

UAE mortgage firm posts Q1 loss of $11 million

Posted on 29 May 2009 by Laxman  |  Email|Print

From Dailystar.com.lb: The United Arab Emirates’ (UAE) mortgage firm Tamweel, the country’s leading Islamic mortgage provider, said Thursday it made a net loss of 41 million dirhams ($11 million) for the first quarter of 2009 on provisions, higher funding costs and lower income from property sales.

“The negative impact of the global economic situation, which affected financial institutions and the real-estate sector in the country, continued in the first quarter of 2009,” said Sheikh Khaled Bin Zayed al-Nahyan, the company’s chairman…….Full Article: Source

HSBC Bank Malaysia Berhad first quarter results

Posted on 29 May 2009 by Laxman  |  Email|Print

From Asiaasset.com: HSBC Bank Malaysia Berhad posted profit before tax of RM248 million (US$70.5 million) in the first quarter of 2009, a fall of 28.7% on the same period in 2008 as the effects from the global economic downturn became more apparent in the region.

Net interest income for the three months ended March 31, 2009, decreased by 5.7%, or RM16 million, to RM265 million (three months ended March 31, 2008: RM281 million), even though customer loans and advances grew by RM1.8 billion, or 6.7%, from March 31, 2008, to March 31, 2009…….Full Article: Source

Jurist continues challenge to taxpayer support of Shariah programs

Posted on 29 May 2009 by Laxman  |  Email|Print

From Wnd.com: A federal judge has warned the Obama administration that even during a crisis, the U.S. Constitution still counts, as part of his rejection of government demands to dismiss a lawsuit over bailout money given to the Shariah-supporting AIG company.

“The circumstances of this case are historic, and the pressure upon the government to navigate this financial crisis is unfathomable,” said U.S. District Judge Lawrence Zatkoff in the decision published yesterday. “Times of crisis, however, do not justify departure from the Constitution.” ……Full Article: Source

Islamic banking in ASEAN: Don’t fly too high

Posted on 28 May 2009 by Laxman  |  Email|Print

From Middle-east-online.com: Everybody in ASEAN can benefit from Islamic banking and finance, which should be regarded as an ambassador of Muslim modernization and a vehicle for economic and social development.

Indonesia just hosted the third ASEAN annual meeting of sharia economic experts in Jakarta, raising the question as to where sharia banking is going and how to avoid the heady heights of high finance that brought down the Western banks. Or will shariah banking fly too high and make the same mistakes? ……Full Article: Source

Sukuk price sees 29% increase

Posted on 28 May 2009 by Laxman  |  Email|Print

From Business24-7.ae: The average price of GCC corporate Islamic bonds, or sukuk, has jumped by a dramatic 29 per cent since the market reached its trough in February, a reflection that confidence in the Gulf is recovering fast, international law firm Trowers & Hamlins said yesterday.

In comparison, the average price of US corporate bonds remained virtually unchanged (falling two per cent) over the same period…….Full Article: Source

What ails the Saudi Fund Management industry?

Posted on 28 May 2009 by Laxman  |  Email|Print

From Khaleejtimes.com: Currently, Saudi Arabia’s onshore asset management industry represents an estimated SR220-250 billion opportunity set, across the businesses of separately managed portfolios (67 per cent) and investment funds (33 per cent) respectively.

This split is consistent with the global share of fund assets, representing 34 per cent of the total pool of professionally managed assets…….Full Article: Source

Sukuk ‘may create own identity’

Posted on 28 May 2009 by Laxman  |  Email|Print

From Tradearabia.com: The Islamic bond market has suffered badly during the economic downturn, but recent events could help the sukuk industry create future benchmarks, according to an economist.

Bahrain-based NCB Capital chief economist, Dr Jarmo T Kotilaine, believes that the fallout from the downturn could help sukuk create their own identity in the market…….Full Article: Source

Mid East Sukuk market retains considerable promise

Posted on 28 May 2009 by Laxman  |  Email|Print

From Zawya.com: NCB Capital, the investment banking arm of National Commercial Bank, Saudi Arabia’s largest bank, believes that the dominance of new entrants from Asia in the sukuk issuance is only temporary.
GCC issuers are likely to enter the market in significant numbers, given the considerable potential for new issuance…….Full Article: Source

Islamic pension funds in the UK: is the idea bigger than the market?

Posted on 28 May 2009 by Laxman  |  Email|Print

From Pensionsweek.com: A Muslim investor seeking Islamic or sharia-compliant investments has the same need for retirement planning as any other investor with similar circumstances. The difference is that he wants investment choices that are not in conflict with his religion, including an Islamic pension fund.

In the UK, despite the growth of Islamic financial services and Islamic funds in general, there has been little activity on the pension side since the launch of the first Islamic pension fund in 2004, which was geared towards the UK’s estimated two million Muslim population…….Full Article: Source

Reliance MF to launch Islamic fund in Malaysia soon

Posted on 28 May 2009 by Laxman  |  Email|Print

From Business-standard.com: Reliance Mutual Fund will shortly launch an Islamic fund in Malaysia, a top company official said.

“We have set up a subsidiary and it is launching an Islamic fund in Malaysia shortly,” Reliance Capital Asset Management CEO, Sundeep Sikka, told reporters on the sidelines of a press meet here…….Full Article: Source

Salama in tie-up to offer three Islamic funds

Posted on 28 May 2009 by Laxman  |  Email|Print

From Business24-7.ae: Salama, the world’s largest takaful and re-takaful group, has tied up with Crédit Agricolé Asset Management (Caam) Group to offer a bouquet of Shariah-compliant funds to investors.

The three Islamic funds are Bric (Brazil, Russia, India and China) quantitative fund, an active Asian equities ex-Japan and a Global Equity fund of Islamic funds…….Full Article: Source

S&P launches Canadian sharia-compliant index

Posted on 28 May 2009 by Laxman  |  Email|Print

From Theglobeandmail.com: Standard & Poor’s is launching a Canadian stock index to give investors who follow Islamic law a guide to the country’s equity market – but those who follow it had better be devoted to resource stocks.

The index can be used as a benchmark or model for funds created to invest in Canada in a manner that is compliant with Islamic law…….Full Article: Source

Investment Dar files complaint

Posted on 28 May 2009 by Laxman  |  Email|Print

From Thenational.ae: Investment Dar, the Kuwait-based investment firm that owns half of Aston Martin, says it has filed a criminal complaint against the Commercial Bank of Kuwait after a dispute over the ownership of a stake in Boubyan Bank.

In December, Investment Dar sold its 19.2 per cent stake in Boubyan Bank to the Commercial Bank of Kuwait, the second-largest lender in the country, for 94.1 million Kuwaiti dinars (Dh1.19 billion)…….Full Article: Source

HwangDBS launches Sukuk Fund

Posted on 28 May 2009 by Laxman  |  Email|Print

From Bernama: HwangDBS Investment Management Bhd today launched its first local sukuk fund, HwangDBS AIIMAN Sukuk Fund (ASF).

In a statement here today, chief executive officer/executive director, Teng Chee Wai, said the fund would capitalise on the growth of the sukuk market…….Full Article: Source

Limitless pay delay holds back project

Posted on 28 May 2009 by Laxman  |  Email|Print

From Sukuk.net: Completion of one of Indonesia’s flagship developments will be delayed by up to four months due to a hold up in financing from Limitless Holding, the chairman of its partner on the project, PT Bakrieland Development, said in comments published on Wednesday.

Hiramsyah Thaib said the Rasuna Epicentrum development in Jakarta, which Limitless last year agreed to buy a 30 percent stake in, will be completed by August or September rather than this month, the English-language Jakarta Globe reported…….Full Article: Source

Abu Dhabi bourse eyes ETF by Sept

Posted on 28 May 2009 by Laxman  |  Email|Print

From Tradearabia.com: The Abu Dhabi Securities Exchange (ADX) is set to launch its first exchange traded fund by late September, its chief executive said on Wednesday.

CEO Tom Healy told a press conference the stock exchange was “hoping” to launch an ETF by the end of the holy month of Ramadan, which is expected to end around September 21…….Full Article: Source

Qtel’s $5bln bonds issue plan gets ratings boost

Posted on 28 May 2009 by Laxman  |  Email|Print

From Gulf-times.com: Global credit rating agencies Moody’s, Standard & Poor’s and Fitch have assigned ratings to Qatar Telecom’s (Qtel) $5bn global medium term notes (GMTN).
Qtel is planning to issue up to $5bn in bonds partly to help refinance debts, including borrowings which will start maturing later this year…….Full Article: Source

2009 London Sukuk Summit workshop: Sukuk Masterclass

Posted on 28 May 2009 by Laxman  |  Email|Print

From Menafn.com: Sukuk or Islamic Securities is gaining increasing acceptability as an international capital markets instrument.
Governments all over the world including the UK, Hong Kong, Singapore, Indonesia and Turkey have or are in the process of introducing tax neutrality laws to facilitate the introduction of such instruments in their markets…….Full Article: Source

Islam teaches good lesson to Western financial system

Posted on 28 May 2009 by Laxman  |  Email|Print

From Newsfromrussia.com: Many analysts said that the Islamic financial system would suffer least from the financial crisis. Islam bans the interest rate, which is the basis of wealth and the source of trouble for the traditional world of money.
The interest collection ban and complicated financial tools helped Islamic banks avoid huge losses under the default on debts, which made the world financial system collapse…….Full Article: Source

Mauritius: Emerging Islamic finance hub

Posted on 28 May 2009 by Laxman  |  Email|Print

From Linexlegal.com: Recent amendments to the banking and tax laws of Mauritius have created a conducive environment for the advancement of global Islamic banking and finance.……Full Article (Subscription Required): Source

Dubai Bank launches tailored financing package for Emiratis

Posted on 28 May 2009 by Laxman  |  Email|Print

From Cpifinancial.net: Dubai Bank said it has launched what it describes as “a unique financing solution” focusing on personal and property financing.
Targeted at UAE nationals employed in the Government and Semi-Government sectors, the product is designed to provide the group with greater and more flexible access to the financing they need…….Full Article: Source

Tighter loan structure puts brakes on ME project finance

Posted on 28 May 2009 by Laxman  |  Email|Print

From Business24-7.ae: Project financing has substantially dropped due to the financial crisis. The project finance market has also seen a number of changes including a shorter tenure and maturity terms and a tighter loan structure, senior executives told a conference in Dubai yesterday.

This happened because of a significant decline of active banks in the market fuelled primarily by a lack of liquidity in the financial system, said Thomas Waterhouse, Joint General Manager and Head of Energy and Natural Resources at Sumitomo Mitsui Banking Corporation Europe…….Full Article: Source

Sharia-compliant assets in GCC and Asia on the rise

Posted on 28 May 2009 by Laxman  |  Email|Print

From Menafn.com: A report issued by Ernst & Young Islamic Funds & Investments said that Sharia assets in the GCC and Asia region reached $736 billion last year, compared to $267 billion in 2007, Gulf News reported.

The report said that the Islamic funds investment growth translates into a potential annual revenue pool of $3.86 billion for the Sharia management industry…….Full Article: Source

Banque Albaraka D’Algerie Raises net profit by 69% to US$ 11.01 mln in the first quarter of 2009

Posted on 28 May 2009 by Laxman  |  Email|Print

Banque Albaraka D’Algerie, a subsidiary banking unit of Albaraka Banking Group B.S.C. (ABG), announced that it posted a net profit DZD 803.55 million (US$ 11.01 million) in the first quarter of 2009, reflecting an increase of 69% compared to the same period last year, while total assets increased by 7%, finance by 11% and deposits by 9% as at the end of March 2009 compared to the end of December 2008.
The Bank’s financial results for the first quarter of 2009 showed an increase of 53% in total operating income compared to the same period last year to reach DZD 1.63 billion (US$ 22.39 million)…….Full Press Release: Source

Jovian to partner with UM Financial to launch Shariah-compliant product

Posted on 28 May 2009 by Laxman  |  Email|Print

Jovian Capital Corporation is pleased to announce an agreement with UM Financial Inc., Canada’s premier Islamic financial services company, to explore the launch of a co-branded, Shariah-compliant investment product.

The Shariah Product would be geared toward Canada’s approximately 1 million strong Muslim population, as well as foreign investors looking for a uniquely Canadian, Shariah-compliant investment…….Full Press Release: Source

New Equation Islamic Banking and Branch Automation System set to boost Albaraka Bank’s strategic edge

Posted on 28 May 2009 by Laxman  |  Email|Print

Albaraka Bank Limited, the South African subsidiary of Bahrain- based Albaraka Banking Group B.S.C. (ABG) last year initiated an intensive project to replace its core banking system with the Equation Islamic Banking and Branch Automation System from Misys Plc., contributing to an improvement in the bank’s competitive edge.

The multi-million Rand IT solution is in line with the bank’s holding company’s strategic direction and is being rolled out to select ABG subsidiaries around the world, inclusive of the South African banking operation…….Full Press Release: Source

Ajman Bank makes moves with Emirates Transport Dhs30m Murabaha finance agreement

Posted on 28 May 2009 by Laxman  |  Email|Print

Ajman Bank, the emirate’s first Islamic commercial Bank, signed an agreement this week with Emirates Transport providing Dhs30m in the form of murabaha finance.
Ajman Bank will purchase a fleet of over 100 buses subsequently sell the same to Emirates Transport on deferred payment terms to expand their services which have seen a steady growth over recent years…….Full Press Release: Source

Islamic finance firm Dar to meet creditors in June

Posted on 27 May 2009 by Laxman  |  Email|Print

From Reuters: Debt-laden Kuwaiti Islamic finance firm Investment Dar will brief creditors and investors next month on how its restructuring plan is progressing, the firm said on Tuesday.

Investment Dar, which recently defaulted on a $100 million Islamic debt issue, said in a statement it had convened a meeting for June 8 in the United Arab Emirates…….Full Article: Source

Islamic market outlook positive despite turmoil

Posted on 27 May 2009 by Laxman  |  Email|Print

From Tradearabia.com: The prospects for growth in Islamic securities markets are positive despite global credit crunch and economic slowdown.

‘Part of this reflects the windfall from higher commodity prices,’ Central Bank of Bahrain director of financial institutions supervision Abdul Rahman Al Baker told delegates at the opening session of the two-day fifth Annual World Islamic Funds and Capital markets conference at the Gulf Hotel…….Full Article: Source

Islamic finance sector ’set to bounce back’

Posted on 27 May 2009 by Laxman  |  Email|Print

From Gulf-daily-news.com: Islamic finance and banking have proved more resilient than conventional finance, according to BMB Islamic UK chief executive officer Dr Humayon Dar.

But he is convinced that both will bounce back, certainly by the beginning of next year. BMB is the Sharia advisory partner to the fifth World Islamic Funds and Capital Markets conference…….Full Article: Source

Daman fund outperforms NBAD index

Posted on 27 May 2009 by Laxman  |  Email|Print

From Business24-7.ae: Daman Investments, the Dubai-based investment management company, yesterday said its open-ended Daman Second Emirates Fund, which is focused on UAE equities, outperformed the index, rising 0.48 per cent against 0.47 per cent decline in NBAD General Index in April. Its net asset value stood at Dh43.45 per unit.

Meanwhile, the Daman Islamic Fund recorded a drop of 0.64 per cent and ended April at a NAV of Dh43.06…….Full Article: Source

Indonesia’s Bakrieland aims to raise $29 mln from sukuk

Posted on 27 May 2009 by Laxman  |  Email|Print

From Reuters: Indonesian property firm PT Bakrieland Development Tbk said on Tuesday it wants to raise up to 300 billion rupiah ($29 million) from an Islamic bond issue, or twice the amount previously indicated.
Bakrieland, part of the corporate empire controlled by the family of Indonesian cabinet minister Aburizal Bakrie, said it has appointed PT Bahana Securities and PT Madani Securities as underwriters for the sukuk, due to be issued in July…….Full Article: Source

banner
banner
banner
May 2009
M T W T F S S
« Apr   Jun »
 123
45678910
11121314151617
18192021222324
25262728293031