Posted on 27 January 2010 by Laxman | Email|Print
From Arabianbusiness.com: The Dubai Multi Commodities Centre, a state owned tax free business park that is part of Dubai World’s holdings, says it will have no problem paying the final installment of a $200 million Islamic bond maturing in May.
The last outstanding payment is $20 million, the DMCC said in an emailed response to questions today……………………………….Full Article: Source
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Nation.com.pk: Pakistan is due to pay $600 million on a maturing 5-year Euro Sukuk bond, on Tuesday, an SBP official said.
“We have instructed for the payment of $600m to be made and the transaction will go through once the U.S. markets open on Tuesday,” said Syed Wasimuddin, chief spokesman for the SBP. Pakistan issued the bond in Jan 2005……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Gulfnews.com: The SIB board of directors approved the financials for 2009 proposing a cash dividend distribution of Dh231 million, equivalent to 10 per cent of paid in capital.
The bank achieved a net profit of Dh260.1 million in 2009 which includes general and specific provisions of meet any possible risks for SIB and its subsidiary companies with an increase of 12.3 per cent compared to 231.6 million Profit achieved in the same period last year and an increase of net profit before distribution to depositors by 22.7 per cent to reach Dh564.0 compared to Dh459.7 million for last year……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Gulf-times.com: International Bank of Qatar (IBQ) does not expect consolidation in the local banking sector this year but said the country’s largest lender QNB may be a potential acquirer in the Gulf region.
Bullish on the growth prospects and project spend, Qatar Islamic Bank (QIB) said it sought to make further inroads in “club deals” to enhance its direct credit to sponsors of the projects……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Dailytimes.com.pk: Dawood Islamic Bank, Pakistan’s only double AA rated bank has completed its hat trick by inaugurating three more branches in Lahore.
Now total 50 branches of Dawood Islamic banks are operational round the country. Chairman of Dawood Islamic bank, Rafeeq Dawood and CEO, Parvez Saeed said, “We have the plan that the people from small towns and villages will also get benefit from Dawood Islamic banking and very soon we will open up our branches there”……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Qatarmorningpost.com: The Islamic Corporation for the Development of the private Sector (ICD) has decided to launch a Shariah-compliant investment company in Tatarstan. The decision was made at the 16th World Islamic Banking Conference 2009 that was held in Bahrain recently.
ICD is the private sector arm of the Jeddah-based Islamic Development Bank (IDB). The Bahrain conference was co-chaired by Khaled Al-Aboodi, CEO and general manager of ICD , and Rustam Minnikhanov, prime minister of the Republic of Tatrastan………………………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Dailytimes.com.pk: Emirates Global Islamic Bank has launched a BancaTakaful product ‘Sarparast Family Takaful Plan’ in collaboration with Pak-Qatar Family Takaful and FWU AG a global facilitator of BancaTakaful.
Sarparast is the latest addition to EGIBL’s product portfolio, and has primarily been designed keeping in mind customer security and customer satisfaction……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Afrol.com: A new World Bank report, “Global Economic Prospects 2010: Crisis, Finance, and Growth,” notes that the crisis is having serious cumulative impacts on poverty, with 64 million more people expected to be living in extreme poverty by the end of 2010 than would have been the case without the crisis, according to updated analysis.
The report states that following the tortuous conditions of 2009, prospects for the Middle East and North Africa (MENA) should improve through 2011. Growth is projected to increase to 4.4 percent by that year, the same pace registered on average between 1995 and 2005……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
GCC economies are poised for gradual recovery in 2010, led by growth in the hydrocarbon sector and higher energy prices, according to Emirates NBD, the Middle East’s largest bank by asset size.
Emirates NBD is the largest banking group in the Middle East by assets. As of December 31, 2008, the bank’s total assets stood at Dhs282.4bn and its combined market share at 20.5 per cent……………………………….Full Press Release: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 27 January 2010 by Laxman | Email|Print
From Mondovisione.com: Based on the close of trading on January 25, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, lost -1.69% month-to-date, closing at 2085.53. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a loss of -2.67%, closing at 169.01.
The Dow Jones Islamic Market Asia/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari’ah compliant stocks in the Asia/Pacific region, increased 1.12%, closing at 1870.98. The Dow Jones Asian Titans 50 Index, in comparison, posted a gain of 1.67%, closing at 136.52……………………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Oxfordbusinessgroup.com: Thanks to a combination of steady management and timely state assistance, Qatar’s Islamic finance sector has seen off the worst of the global economic crisis and is now well positioned to take full advantage of the predicted surge in growth this year.
Along with the rest of the country’s financial sector, the sharia-compliant component should continue to benefit from the government’s continued economic stimulus programme throughout 2010, which will combine direct pump priming efforts with fiscal support for the banking services industry………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Globalarabnetwork.com: Thanks to a combination of steady management and timely state assistance, Qatar’s Islamic finance sector has seen off the worst of the global economic crisis and is now well positioned to take full advantage of the predicted surge in growth this year.
Along with the rest of the country’s financial sector, the sharia-compliant component should continue to benefit from the government’s continued economic stimulus programme throughout 2010, which will combine direct pump priming efforts with fiscal support for the banking services industry………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Businessweek.com: Asian Finance Bank, the Malaysian unit of Qatar’s biggest Islamic bank, plans to start funds worth at least $150 million to invest in Asia to benefit from economic expansion in the region.
The bank, 70 percent owned by Qatar Islamic Bank SAQ, will start a $100 million fund to invest in environmentally-friendly projects, another 100 million ringgit ($29 million) for a retail project in Kuala Lumpur and an aviation fund to invest in aircraft purchases, Chief Executive Officer Mohamed Azahari Kamil said in a telephone interview in Kuala Lumpur today………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Ifsl.org.uk: A new IFSL report on Islamic Finance 2010 estimated that the global market for Islamic financial services, as measured by sharia compliant assets, rose by a quarter to $751bn at end-2008. The Islamic finance sector is feeling the influence of the downturn in the global economy with asset growth likely to have paused for breath in 2009. Commercial banks account for the bulk of the assets with investment banks, sukuk issues, funds and takaful making up the balance.
London has established itself as the key western centre for Islamic finance. The cluster of expertise in London is represented by banks, fund managers, international law firms, a secondary market in Sukuk and a growing market for retail mortgage business………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Broking.co.uk: The global market for Islamic financial services is estimated to have risen by 25% to reach $951bn at the end of 2008, according to the Islamic Finance report from International Financial Services London (IFSL).
The organisation also said that the Islamic finance sector is feeling the influence of the downturn in the global economy with asset growth likely to have paused for breath in 2009………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Arabianbusiness.com: Rapid growth among Saudi Arabia’s Islamic insurers will benefit the domestic bond market but bypass dollardenominated issues due to regulations that keep insurers’ investment close to home, experts and executives said.
Strong growth in the takaful, or insurance industry has underpinned hopes it will give a boost to the market for Islamic bonds, or sukuk………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Bi-me.com: Standard & Poor’s, a leading provider of financial market intelligence, has announced it will be a member of the Gulf Bond and Sukuk Association (GBSA) Steering Committee.
The GBSA is a new independent membership body devoted to the development of fixed income markets across the Gulf Cooperation Council (GCC)………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Reuters: Gulf bond issuers are likely to tap U.S. investors for a more diverse funding base, despite the fallout from Dubai’s debt troubles, as demand for high-rating emerging market debt rises, bankers in Dubai said on Monday.
There has been an increase in Gulf Arab corporate and quasi-sovereign issuers opting for 144a types of issues, which are regulated under the U.S. securities commission allowing U.S. investors to buy into the issue………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Thenational.ae: Bond issuance in the Gulf is unlikely to extend the boom of the latest quarter, as Dubai World’s request for a standstill from its creditors has sapped market confidence, bankers say.
New issues of bonds reached US$38 billion (Dh139.57bn) last year, including record issuance in the fourth quarter, compared with $14bn in 2008 and $28bn in 2007. “If you extrapolate from the last quarter, we could see $60bn in issuance [this year], but that is probably optimistic,” said Andrew Dell, the HSBC regional managing director for global financing………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed.
Subscriptions worth BD63m were received for the BD12m issue, which carries a maturity of 91 days. The expected return on the issue, which begins on 27 January 2010 and matures on 28 April 2010, is 1.05%………………….Full Press Release: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Gulf-times.com: Ahlibank-Al Hilal Islamic Banking has announced the profits of its investment deposits and savings accounts for the last quarter of 2009.
Al Hilal Islamic Banking said it has paid “attractive returns” on its deposits. The bank has announced a profit rate of 5.9% on investment deposits of more than one year………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Bernama: Bank Negara Malaysia (BNM) has urged banks in Malaysia and Bahrain to work together and use Bursa Suq Al-Sila’ to enable the flow of funds that would enhance the liquidity management framework between both countries.
BNM deputy governor, Datuk Mohd Razif Abd Kadir, said Bursa Suq Al-Sila’ could provide a viable alternative to the well-functioning of liquidity management in Islamic financial system. Bursa Suq Al Sila’ is a purposefully-designed exchange-traded platform to facilitate commodity murabahah transactions………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Gulf-daily-news.com: The Central Bank of Bahrain (CBB) has granted a licence to Zurich Insurance Company (ZIC) to open a branch in Bahrain.
This allows the company to expand its activities as a general insurer from Bahrain, to provide services to their large corporate customers………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Gulf-times.com: Doha Insurance Company (DIC) has reported a 10% jump in 2009 net profit to QR52.08mn on faster growth in net underwriting earnings.
Although net premium grew only 7% to QR89.53mn; its total underwriting revenues surged 13% to QR107.40mn on substantial growth in earned insurance premiums and commissions received, according to its financial statement filed with the Qatar Exchange………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Btimes.com.my: Takaful Malaysia Bhd (Takaful Malaysia) has bagged two awards at the second Global Awards 2009. It was awarded the Global Diamond Award (Diamond winner category), while its group managing director Datuk Mohamed Hassan Kamil was chosen as the recipient of the “Smart Entrepreneur” award.
The “Smart Entrepreneur” award is based on the winner’s capability to position the company and its business to help further the 1Malaysia philosophy………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Nst.com.my: Whether rich or poor, the need for urgent cash is always there. The poor are not able to qualify for credit cards or personal loans from banks in Malaysia.
If they go to illegal moneylenders, the interest rate would be absurdly high, with a possibility of being trapped for a long time. This might lead to repayment of more than three times the borrowed amount………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Alibaba.com: The Singapore operations of Islamic bank Kuwait Finance House has cut its workforce as part of a plan to streamline its regional fund management business, a director said on Monday.
The decision to reduce Kuwait Finance’s Singapore headcount to two from about eight comes shortly after the departure of Islamic Bank of Asia’s top Singapore executive raised industry concerns that the city-state’s Islamic finance market is growing too slowly and so is prompting some companies to restructure………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Tradearabia.com: Jordan will host a major Islamic finance conference in March. It will attract influential players in the field of Islamic financing and others interested in the industry.
The First Islamic Finance & Investment Forum for the Middle East (IFIF) 2010 will be held on March 2 and 3 at the King Hussein Bin Talal Convention Center (KHBTCC) in the Dead Sea………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Maktoob.com: The Qatari economy is expected to grow 18% in 2010 and 13% in 2011 with the completion of new liquefied natural gas production lines, Doha-based Al Arab daily reports Monday.
The strong impetus that government spending will give to the economy will also contribute to this growth, the paper reports citing a study by Saudi Arabia’s Samba Financial Group………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
With the global financial crisis raising doubts over the world’s conventional financial system, the banking industry in Indonesia stands to benefit from the global downturn and expects to continue rapid growth in the coming years. The financial crisis is having no negative impact on the development of Islamic banking in the country.
So far, Islamic banks have not showed any weakening of their performance and we expect both assets and lending would grow at a CAGR of over 50% between 2009 and 2013. This optimistic view is based on its very nature (avoid involvement of interest rates), extremely low penetration and a healthy growth in lending over the past two years………………….Full Press Release: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 26 January 2010 by Laxman | Email|Print
From Reuters: The government will seek to remove one of the final technical obstacles to the issuance of Islamic bonds, the Treasury said on Friday.
Islamic finance professionals in the UK, which hosts five stand-alone Islamic banks, were optimistic that if Parliament votes in favour next month to regulate sukuk as bonds rather than investment vehicles, it would encourage the growth of a market that has struggled for traction………………….Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Tradearabia.com: The Bahrain Financial Exchange (BFX) and Bursa Malaysia said on Sunday they signed an agreement to study a common platform on which Islamic finance products such as commodity murabahas can be traded.
Malaysia’s stock exchange launched a platform last year on which murabaha, an Islamic money market instrument, can be traded using palm oil as the underlying commodity…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Businessweek.com: Indian billionaire Anil Ambani’s Reliance Capital Ltd., owner of the nation’s largest mutual fund manager by assets, set up a Malaysian unit to serve as a global hub for Shariah-compliant financial products.
Reliance Asset Management (Malaysia) Sdn. aims to tap the retail market for products that comply with Islamic law, and has started hiring people, an e-mailed statement from the Mumbai- based company said, citing Vikrant Gugnani, chief executive officer of Reliance Capital’s international businesses…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From AFP: Kuwaiti Islamic lender Boubyan Bank on Sunday started a major rights issue aimed at raising its capital by 50 percent, the bank said.
In a statement on the Kuwait Stock Exchange website, the bank said the share price in the rights issue will be at a nominal value of 100 fils (0.35 dollars) in addition to a premium of 155 fils (0.54 dollars)…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Bernama: Bank Simpanan Nasional (BSN) will soon establish more branches in the country based on the Islamic banking system, said its General Manager/Chief Executive Officer, Datuk Adinan Maning.
He said the move was to make available more BSN products besides meeting the desire of the government to remind people of the ability of the government to provide Islamic banking services to everyone…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Bernama: Deputy Finance Minister, Senator Datuk Dr Awang Adek Hussin, said up to 60-70 per cent of Islamic banking conducted in the country received investments from international parties.
He said that the high participation proved confidence in the Islamic banking system practised in the country and it had global recognition…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Ethiopianreview.com: Ajman Bank, the emirate’s first Islamic commercial bank, has been named Best New Islamic Bank for 2009 by readers of Islamic Finance News (IFN).
Ajman Bank beat the competition in the fifth annual Islamic Finance News Awards which collated votes from over 2,500 readers during a month-long poll. This achievement comes as the new bank nears the end of a successful first year in operation…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Bangkokpost.com: Now operating in the black, Islamic Bank is well-positioned in retail finance and also ready to take on larger foreign players.
On the whole, 2009 stood out as a good year for the Islamic Bank of Thailand, as it earned a modest annual profit of 300 million baht, its first since its founding in 2003…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Gulf-times.com: Commercialbank has been able to deliver a resilient set of full year results in 2009 despite the effects of the financial downturn, chairman Abdullah bin Khalifa al-Attiyah has said.
The bank posted a net profit of QR1.52bn and increased fourth quarter profits of 33% to QR186mn compared with the same period in 2008 despite the challenges emanating from the global financial downturn…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Btimes.com.my: It is believed that Mizuho Financial Group may be pursuing one of several new banking licences that Malaysia plans to offer by 2012.
Mizuho Financial Group Inc, Japan’s third largest bank, says it is keen on obtaining a banking licence in Malaysia amid growing business opportunities between both countries…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Arabnews.com: Luxembourg took an important first step toward developing the Duchy into the latest European hub for Islamic finance, especially Islamic capital markets, when it published last week a new tax circular on the treatment of a whole range of Islamic finance products including murabaha, musharaka, mudarabah, istisna, ijarah, ijarah wa Iktina and sukuk (Islamic bonds).
A circular from the Director of Contributions, the Luxembourg tax authority, describes the major principles and contracts of Islamic finance and their respective tax treatment…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Zawya.com: Secretary General of the Franco Arabe Chamber of Commerce Dr. Saleh Al-Tayyar said here Friday that the French economy would be a major pillar of the Islamic finance system.
Al-Tayyar said senior French officials were convinced that Islamic finance was a successful way to finance and attract foreign investments…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Business24-7.ae: The British government will seek to remove one of the final technical obstacles to the issuance of Islamic bonds, the Treasury said.
Islamic finance professionals in the UK, which hosts five stand-alone Islamic banks, were optimistic that if the Parliament voted in favour next month to regulate sukuk as bonds rather than investment vehicles, it would encourage the growth of a market that has struggled for traction…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Findlaw.com: The UK Government has proposed new regulations to support Islamic finance and the issuance of corporate sukuk within this country.
NDSThe regulations have four main aims: (1) to level the playing field for corporate sukuk within the UK; (2) provide clarity on the regulatory treatment of corporate sukuk; (3) reduce the legal costs for these types of investments; & (4) remove unnecessary obstacles to their issuance…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Arabianbusiness.com: Bahrain plans to issue a $1 billion sovereign bond with a 10-year maturity, the central bank said on Sunday, with a banking source saying the issue will mostly target US investors.
“The Bahrain government is issuing around $1 billion in conventional bonds, the yield is market driven and the maturity is 10 years,” a spokeswoman for the Central Bank of Bahrain (CBB) said…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Tradearabia.com: Iran plans to issue bonds worth up to 5 billion euros ($7 billion) from March 2010 to help finance development of its key energy industry, the semi-official Mehr news agency reported on Sunday.
“Based on next year’s budget bill, which has been presented by President Mahmoud Ahmadinejad early on Sunday, the government permits the oil ministry to issue up to 5 billion euro bonds to help finance development of the country’s oil, gas and petrochemical sectors,” the agency reported…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Arabianbusiness.com: Saudi Arabian central bank governor Muhammad al-Jasser said on Sunday the kingdom will issue its first mortgage law in the next few months, boosting the real-estate industry and allowing banks to diversify their balance sheets.
“I’m optimistic that in the next few months, the law will be issued,” al-Jasser said in an interview in Riyadh…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Cpifinancial.net: King & Spalding announced today that it represented a Luxembourg-based Shari’ah-compliant real estate fund advised by Pramerica Real Estate Investors in connection with a €16.3 million Shari’ah-compliant refinancing of an Hungarian shopping and entertainment centre.
King & Spalding was responsible for structuring the Shari’ah-compliant refinancing, which was structured on an Ijara-wa-iqtina (lease-to-own) basis with a complex split structure due to the anchor tenant having already entered into a long-term lease…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Thenational.ae: The increasing popularity of Islamic finance should help takaful firms outperform their counterparts in conventional insurance, Alpen Capital says.
The investment firm based at the Dubai International Financial Centre says in a report that takaful firms will benefit from favourable demographics and the growing availability of Islamic financial products. Takaful is similar to conventional insurance but investments are held to Sharia-compliant assets…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
Posted on 25 January 2010 by Laxman | Email|Print
From Khaleejtimes.com: Takafulhous subsidiary of Mawarid Finance, the leading Islamic insurance company in Dubai, announced appointment of the new Chief Executive Officer Ayman Yousif Al Ajmi.
The decision of the appointment of Al Ajmi was issued at the latest meeting of the Board of Directors…………………Full Article: Source
|
|
Play - Download this article | | | Play - Download Full Briefing | | | Subscribe to the Podcast Feed |
RSS