From Brazzil.com: Papers of companies and governments issued according to Islamic financial systems - the Sukuk bonds - currently under negotiation on the foreign capital markets totaled around US$ 80 billion. This according to Alexei Remizov, of HSBC Amanah, the Islamic branch of bank HSBC, talking in Brazil.

Remizov was participating in the seminar promoted by the São Paulo Stock Exchange (Bovespa) “The financial and capital markets of the Islamic world: opportunities and challenges.”…. Full Article: Source

From Reuters: Malaysian planter Boustead Holdings will boost the size of the world’s first sharia plantation real estate investment trust to 805 million ringgit ($221.5 million), the firm said on Tuesday citing strong demand for palm oil and Islamic banking products.

Boustead’s plan to inject 189 million ringgit of plantation assets into the REIT comes as property and palm oil markets struggle to cope with excess supply and a grim global economic outlook….. Full Article: Source

Islamic Finance has become all the rage in financial markets in the last thirty years. Expanding rapidly to more than 250 financial institutions in over 40 countries, it has caught the attention of international financial institutions who are beginning to embrace it as an important offering for their clients. Big names such as Citibank, HSBC and ABN Amro are trying to create their niche in this lucrative market.

As the Middle East markets open up and the Muslim world looks for new places to invest its wealth in the face of higher energy prices and growing export earnings, the rapid growth of Islamic Finance is expected to continue. Whether or not this anticipated growth would continue or accelerate really depends on how Islamic institutions and governments respond to the challenges that loom on the horizon….. Full Press Release: Source

From Independent.com.mt: The recently held Islamic Finance Seminar, organised jointly by the Malta Institute of Management, the Malta Union of Bank Employees and the Malta Employers Association, was attended by over 100 professionals from the Financial Services Industry, Accountants and Lawyers.

Reuben Buttigieg, Chairperson of MIM and Managing Director of Erremme Business Advisors, explained the core principles of Islamic Finance, including the various opportunities that Malta has in this lucrative niche market….. Full Article: Source

From Theodoresworld.net: While ministers and major financiers of major rich countries try to stem the panic of the global financial turmoil, imams of mosques, economists and writers stress that, from Saudi Arabia, Islamic finance is the only remedy against the successive black days.

The shock wave from the financial catastrophe has not spared the imams of most mosques in Saudi Arabia. They used the crisis to spread in endless praise Islamic finance which is based on the ban of interest (riba), speculation, and sharing the risk and profit between contractors….. Full Article: Source

From Ugpulse.com: The Mufti of Uganda, Sheik Shaban Mubajje has called upon countries to adopt the Islamic economic system which does not involve charging interest, if countries are to have sound economies and achieve development for their people.

He says all people who want credit to develop themselves and or their businesses should be availed the credit without asking them to pay interest….. Full Article: Source

From Asiaone.com: A financial product is said to be syariah-compliant when it complies with Islamic law. As the latter operates in accordance with the religious beliefs and cultural mores of Muslim societies, there are restrictions on how and where the funds can be invested.

For example, investments in alcohol, pork, pornography or the gambling industry, or in entities engaged in illicit, immoral or dubious trade, are forbidden. Investments in entities involved in lending or borrowing, such as banks, are also prohibited….. Full Article: Source

From Reuters: Islamic insurer Takaful Malaysia said on Tuesday that it had ended talks with Islamic Arab Insurance Co.over the purchase of a strategic stake in Takaful Malaysia.

The talks started last year, Takaful said in a statement. It did not provide any details….. Full Article: Source

From Dailyexpress.com.my: Hong Leong Bank Hong Kong branch (HLB HK) recently completed Hong Kong’s first Commodity Murabahah Deposit(CMD)transaction with government investment arm, Khazanah Nasional.

“HLB HK’s first CMD transaction with Khazanah Nasional is a sign of positive growth for the Islamic Banking industry in Hong Kong,” said the group managing director of Hong Leong Bank, Yvonne Chia, in a statement Tuesday. ….. Full Article: Source

From Businessinsurance.com: The Islamic Financial Services Board and the International Association of Insurance Supervisors have signed an agreement to enhance supervision of the takaful insurance market.

The organizations have a mutual goal of promoting the stability of the takaful market through the development of international standards and enhancing cooperation among supervisory authorities, the IFSB said in a statement….. Full Article: Source

From Reuters: Malaysian plantation firm TSH Resources Bhd will issue 76 million ringgit ($20.91 million) of Islamic notes on December 10, the company said on Tuesday.

TSH would sell 36 million ringgit and 40 million ringgit of notes, both with 33-day maturities, the firm said on the central bank’s website….. Full Article: Source