From Channelnewsasia.com: Islamic financing has proven to be a viable option for firms seeking funding in the current challenging environment.

The current financial crisis has seen many financial institutions scale back on lending. With the amount of assets backed by Islamic funds estimated to be over US$530 billion and growing, more firms are looking to become Shariah-compliant to attract Islamic investors….. Full Article: Source

From Cimaglobal.com: There is an increasing demand for financial professionals with an understanding of Islamic banking. A spokesperson for the Islamic Financial Services Board explained that the growth in popularity of sharia-compliant products the world over means there is a need for people who are well versed in the subject.

“There is a big demand for Islamic finance as a professional activity,” he said….. Full Article: Source

From Albawaba.com: November can be seen as the month in which any lingering doubts about the effect of the global financial crisis on our region were finally dispelled.

The near collapse of financial behemoth Citigroup, oil prices at levels below USD 50/barrel, further evidence of cracks in some sectors of the Dubai real estate market, concerns over public and private debt levels in the Dubai economy, investor and political turmoil in Kuwait, all conspired to make the past month only slightly less painful than the record losses of October….. Full Article: Source

From Religioncompass: While thousands of experts are losing their jobs in the world financial sector, the $ 1 trillion Islamic banking sector is desperately looking for sharia scholars who can give expert advice on many financial issues facing the sector.

Whereas there is an increasing demand for adjusting all financial contracts such as mortgages and bonds to sharia, there is little supply of scholars familiar enough with both religious law and secular finance….. Full Article: Source

From Thepost.com.pk: By regulating Exchange Companies according to the principles of Islamic finance in Pakistan, not only the business of Currency Exchange companies will be accelerated but also segment of economy will be regulated in a better way enabling to avoid any unpleasant incidents in future.

These points were expressed by The CEO of Al-Huda Centre of Islamic Banking, Muhammad Zubair Mughal in a Discussion on the topic of “Islamic Finance & Exchange Companies”….. Full Article: Source

From Selectproperty.com: The Abu Dhabi Islamic Bank, the region’s leading Islamic bank, has announced today the inauguration of a new state-of-the-art branch in Ras Al Khaimah, in line with its strategy to expand its services in the Northern Emirates.

“This year, our expansion plan will focus on the Northern Emirates market due to the great potential and opportunities that exist there; Ras Al Khaimah is steadily growing to become one of the leading economic and tourism destinations in the UAE,” said Mr. Ali Al Shaqoosh, Head of Branches at Abu Dhabi Islamic Bank….. Full Article: Source

From Bernama.com: Bursa Malaysia today introduced new rules under the Listing Requirements for the listing of Islamic securities or sukuk, and debt securities on the Exchange.

Under the new framework, sukuk or debt securities denominated in ringgit and foreign currencies issued by local and international listed and non-listed entities will be allowed to be listed on the Exchange….. Full Article: Source

From Menareport.com: Ahli United Bank B.S.C. (AUB), one of the region’s leading banking institutions, has been named ‘Bank of the Year - From From Bahrain’ for 2008 by The Banker magazine, a widely respected publication and part of the UK’s Financial Times Group, for the third consecutive year.

The Banker’s editorial team assesses banks on overall performance in the previous financial period incorporating performance criteria, qualitative achievements and strategic objectives….. Full Article: Source

From Reuters.com: Global Investment House, Kuwait’s biggest investment bank, said on Thursday it is in talks with local banks to secure loans worth $1 billion, and had sold a stake in a Bahraini lender at a loss.

Major Islamic investment firm Investment Dar, which owns British luxury car maker Aston Martin, meanwhile said it was seeking fresh loans after a newspaper said it was being pressured by banks to sell assets. Shares in both firms fell….. Full Article: Source

From Hollywoodreporter.com: Despite a global financial crisis that gets worse by the day, Dubai’s vision of becoming an international media powerhouse remains on solid ground.

Even in opulent Dubai — the jewel in the crown of the oil-rich UAE and home to the world’s only seven-star hotel, an indoor ski slope and, eventually, the tallest building on Earth — a harsh economic reality is setting in. …. Full Article: Source

HSBC Amanah is opening three new Syariah branches in the cities of Bandung, Surabaya and Medan to coincide with its 10th year of operation in Indonesia.

The new branches add to HSBC Amanah’s growing network across Indonesia and are the first Islamic retail branches opened by an international bank in the three cities. Mahmoud Abushamma, Head of HSBC Amanah Syariah, and Rusli Sutanto, Head of Personal Banking for HSBC Indonesia, symbolically officiated the opening of the new branches in Jakarta….. Full Press Release: Source

From BT: AmIslamic Bank targets 10% growth next year on the strength of its wide range of products, said AmBank (M) Bhd managing director of retail banking Datuk Mohamed Azmi Mahmood.

“I think we will grow well compared to our conventional banking activities. We have taken a target of 10% growth for the whole of AmIslamic Bank accounts,” he said after the prize giving ceremony of AmIslamic Bank Personal Financing-i ‘Win-a-Car Contest’….. Full Article: Source

From BT: Southeast Asian syariah banks are vulnerable to a similar crisis that hit conventional lenders as a push for market share creates acceptance of risky products forbidden by Islam, a religious adviser said yesterday.

Strict lending rules and rigorous demands for transparency have shut out opaque structures and shielded Islamic banks from the worst of the financial crisis. But this austerity has also kept the US$1 trillion Islamic finance sector relatively small despite a boom in Gulf petrodollars which propelled the sector into the limelight….. Full Article: Source