From Bloomberg: The organization representing the world’s biggest grouping of Muslim-majority nations is seeking to attract more overseas investment by offering the first Shariah-compliant stock index from its 57 members.
The Organization of the Islamic Conference based in Jeddah hired Standard & Poor’s to start an index of about 50 of the most-traded stocks in the first quarter of 2011, Huseyin Erkan, the Istanbul Stock Exchange’s chief executive officer and coordinator of the initiative, said on Nov. 8……………………………………….Full Article: Source

From Tradearabia.com: The Islamic finance industry in the UK has gone from famine to feast in the past six months, according to one of the country’s leading Islamic institutions. ‘We have seen more business transactions in the past six months than we achieved in the previous three years,’ said Gatehouse Bank chief executive officer, Richard Thomas.
‘Business is booming not only in the UK and Europe but in new markets in Africa and in republics of the former Soviet Union in Eastern Europe……………………………………….Full Article: Source

From Bloomberg: Islamic loans targeting Indonesian small businesses have grown to dominate Shariah-compliant credit in the world’s most-populous Muslim nation, prompting the country’s biggest banks to expand.
PT Bank Syariah Mandiri is adding branches in Java and Sumatra to offer so-called microfinance loans because more than 90 percent of Indonesia’s 50 million small businessmen have no access to regular bank financing, said Andri Vendredi, the head of the division at the Jakarta-based arm of the nation’s largest lender……………………………………….Full Article: Source

From Bernama: Malaysia has received less criticism and scrutiny on the management of sukuk defaults due to the country’s robust supervisory structure, established governance and disclosure standards as well as highly developed legal framework and court system.
RAM Rating Services Bhd head of Islamic ratings, Zakariya Othman, said Malaysia has done well in positioning itself as an advanced Islamic financial hub……………………………………….Full Article: Source

From Moneycontrol.com: Dubai plans to issue about USD 1.5 billion sovereign sukuk in Malaysia as the Gulf Arab emirate looks to tap the world’s largest Islamic bond market to diversify its funding avenues, people with direct knowledge of the deal said on Wednesday.
Work on the USD 1.5 billion multi-currency programme was “more than 50%” under way but the plan was not final given the volatility in financial markets due to Ireland’s debt troubles and tensions on the Korean peninsula, said one source not authorised to speak to the media……………………………………….Full Article: Source

From Theasset.com: SWIFT has announced that ISO 15022 message standards for the processing of treasury murabaha transactions have been certified compliant with the international Islamic finance standards issued by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions).
This certification paves the way towards the automated processing of murabaha treasury transactions, said to represent 60 percent of all Islamic financing……………………………………….Full Article: Source

From Gulf-daily-news.com: The aftermath of the financial crisis presents the Islamic financial industry with both an opportunity and a challenge. But anyone in the industry who thinks Islamic financial institutions can return to business as usual is wrong, according to Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj.
Speaking in a keynote address at the opening of the 17th Annual World Islamic Banking Conference (WIBC) at the Gulf Hotel, he said that while Sharia-compliant institutions, by their very nature, did not get involved in structured investment vehicles and other instruments that turned into toxic assets, the industry did follow conventional banking in becoming overleveraged……………………………………….Full Article: Source

From Ameinfo.com: At the 17th Annual World Islamic Banking Conference (WIBC 2010), Richard Thomas, CEO, Gatehouse Bank (Gatehouse) plc, a wholesale Sharia-compliant investment bank based in the city of London, and a subsidiary of the Securities House Kuwait, commented on the important issue that the Islamic banking and finance industry is facing today - a critical need for dynamism in business strategies to suit changing economic conditions.
“Everyone knows that the times have changed and we need to adapt accordingly,” said Richard Thomas……………………………………….Full Article: Source

From Arabnews.com: The president of the Islamic Development Bank has pledged to continue contributing to the economic development and social progress of Muslim communities. Dr. Ahmad Mohammad Ali said he wanted to develop “a very real action plan, to make a better citizenship in your country.”
The IDB president was speaking at the 11th Community Development Workshop (CDW), which began at the bank’s headquarters in Jeddah on Saturday and attended by more than 50 delegates, both men and women, representing about 50 NGOs in at least 16 countries……………………………………….Full Article: Source

From Thenational.ae: Dubai Islamic Bank (DIB) plans to launch the UAE’s first real estate investment trust in a move the bank hopes will rekindle the Dubai property market. Real estate investment trusts, commonly called REITs, allow investors to buy into a portfolio of properties, which pay income from rents and sales in much the same way as a mutual fund profits from equities.
The Emirates REIT, as it will be known, would allow the bank to tap into liquidity from overseas investors seeking access to local property markets……………………………………….Full Article: Source

From Bernama: AmIslamic Bank Bhd and Sabah Credit Corporation (SCC) on Wednesday signed a RM100 million Islamic banking facility that is set to spur Sabah’s economic development.
“We are indeed pleased to be associated with SCC, a catalyst for Sabah’s socio-economic development,” said Ambank Group Chairman Tan Sri Azman Hashim……………………………………….Full Article: Source

From Thestar.com.my: State-owned Sabah Credit Corp (SCC) is venturing into Islamic financing business with the launching of its i-Executive personal financing facility.
To kick off i-Executive, SCC has teamed up with AmIslamic Banking Bhd that will provide a RM100mil Islamic banking facility in the form of a revolving credit scheme and term financing with the underlying contract, Bai’ Inah……………………………………….Full Article: Source

From Bernama: The Sabah Credit Corporation’s(SCC) move to venture into Islamic financing, is a significant milestone in remaining relevant and competitive in financial business, said Chief Minister Datuk Seri Musa Aman.
He said, it was also because, Islamic financing is one of the country’s aspirations for a more resilient financial industry and part of the national Economic Transformation Programme (ETP)……………………………………….Full Article: Source

From Tradearabia.com: Bahrain-based Gulf Finance House (GFH) has won approval from its shareholders to raise funds up to $500 million through a convertible murabaha to boost its capital base and fund growth strategy.
Announcing the investors’ backing for its future plans, Esam Yousif Janahi, executive chairman of GFH, said the investors had also given the go-ahead for the acquisition of another 10 per cent stake in Khaleeji Commercial bank……………………………………….Full Article: Source

From Todayonline.com: The Singapore Management University (SMU) is offering a new master’s programme in Islamic law and finance. On track to launch in the first quarter of 2012, the degree course will be offered by SMU’s Islamic Law and Finance Centre.
Mr Ng Nam Sin, assistant governor of development at the Monetary Authority of Singapore, said the programme will serve the growing Islamic finance industry in Asia……………………………………….Full Article: Source

From Mondovisione.com: The appetite for financial products that comply with Shari’ah or Islamic law is on the rise; with estimates for the total value of Islamic financial assets globally standing at approximately USD1 trillion.
However, the development and progress of the Islamic finance market has not been uniform by any means and is characterised by its fragmented nature within several regions across the globe. Bursa Malaysia’s Global Head of Islamic Markets, Raja Teh Maimunah further illustrated this scenario at the World Islamic Banking Conference in Bahrain today, where she presented a paper on “Establishing Global Connectivity”……………………………………….Full Article: Source

From Elanthemag.com: The total global Muslim population is 1.6 billion, around 25% of the world’s population today. It’s expected to be nearly 50% of world population by 2050 if it continues to outpace global population growth by 1.5x-2x. The Muslim household on average is around 5 people per family compared to the United States at 2.6 people.
The typical Muslim demographic is younger. For example, in the Middle East, North Africa and the South Asian region, the focal geography of SM Advisory Group, almost 50% of the population is under the age of 25. Furthermore with a rising middle class and adoption of modern and urban trends the consumption potential is very attractive for decades to come……………………………………….Full Article: Source