From Asahi.com: The Japanese government has taken a small but important step toward introducing Islamic finance here amid the global financial crisis triggered by unsustainable subprime loans in the United States.

Earlier this month, the Financial Services Agency (FSA) amended financial regulations to let bank subsidiaries handle Islamic finance operations. The Islamic finance market has become increasingly attractive for Japanese, having already grown to about $1 trillion with a potential to reach an estimated $4 trillion….. Full Article: Source

From Newstatesman.com: Sharia banking is growing fast and the mainstream banks are starting to offer Islamic accounts. Its system of shared risks and profits could offer a model for the financial services of the future.

Sharia-compliant, or Islamic, finance is committed to promoting goals any proud progressive would recognise: equity, moderation, social justice. It is a system that revolves around prudent lending, the reduction of risk, the sharing of profits and an absolute ban on speculation and the short-selling of stocks….. Full Article: Source

From Cpifinancial.net: The British government is working on a consultation paper which examines the possibility of a sovereign Sukuk, which has been the subject of quite some speculation for well over a year.

The document sets out the proposed legislative framework for the regulatory treatment of what it describes as ‘Alternative Finance Investment Bonds’ or AFIBs. …. Full Article: Source

From Themalaysianinsider.com: Islamic banks have largely dodged the financial crisis, thanks to their low exposure to toxic assets like sub-prime loans, and may rebound faster than other sectors once the global outlook strengthens.

That is the view of two key players in the sector here, who both see strong growth ahead. Vince Cook, chief executive of The Islamic Bank of Asia (IB Asia), a Singapore-based unit of DBS Group Holdings, said: “While we’re not immune… we’re also not seeing any of the Islamic banks having the problems you’re seeing at some of the bigger investment or conventional banks….. Full Article: Source

From Brudirect.com: The Brunei Darussalam government must start issuing longer term sukuk or Islamic bonds to take the next step in developing its Islamic capital market, bankers and investment managers said yesterday.

In a market regarded as still in its infancy stage, the government plays a key role in encouraging private business to issue sukuk as a way of raising capital. Its own sukuk issuance in effect sets the rates at which other issuers will sell their syariah-compliant bonds…. Full Article: Source

From Theblackkettle: If “cash is king,” then Middle East coffers are irresistibly enticing. During a recent tour of Saudi Arabia and the Gulf states, Deputy Treasury Secretary Robert Kimmitt applauded the “growing role” of Arab banks in the U.S. economy.

Treasury is seeking buyers for its newly acquired bailout assets because more than $1 trillion in cash is urgently needed to rescue the largest U.S. banks. However, cash from the Arabian Gulf comes with a vital string attached: Islamic banking, erroneously viewed as an ancient practice. …. Full Article: Source

From Fxstreet.com: The U.K. treasury said Thursday it doesn’t believe offering sovereign sukuk bonds is currently the right step. “The Government has concluded that issuing sovereign sukuk wouldn’t offer value for money at the present time but will keep the situation under review,” the treasury said in a consultation document on Islamic Finance.

The government has been consulting since April 2007 whether to issue sovereign sukuk bonds…. Full Article: Source

From Seekingalpha.com: Javelin Investment Management, a newly formed exchange-traded funds company, has filed with the Securities and Exchange Commission for the first U.S. ETF to be based on an Islamic index.

The JETS (Javelin Exchange Traded Shares) Dow Jones Islamic Market International Index Fund is the latest example of an ETF manager hoping to find success in the crowded ETF market with a first-of-its-kind portfolio….. Full Article: Source

From Fxstreet.com: Indonesia’s finance ministry said on Friday it plans to issue the country’s maiden global sukuk in February 2009.
…. Full Article: Source

From Allafrica.com: Following the recent global financial crisis, questions are being raised about the safety of people’s money in banks and it may be time to think about an alternative banking system.

And Islamic or Sharia banking could be that system. It is an ancient system that was rejuvenated in the 1970s in the Arab world guided by the principles of banking contained in the Qur’an….. Full Article: Source

From Qck.com: Islamic bank accounts used to be very niche products, offered by specialist banks. These days, however, sharia banking is becoming more mainstream and many high street banks now offer Islamic current accounts and savings accounts.

In fact, Islamic finance is growing faster than any other subset of world banking. The IMF says the number of sharia-compliant financial institutions worldwide has risen from one institution in one country in 1975 to more than 300 institutions operating in more than 75 countries in 2008. …. Full Article: Source

From Channelnewsasia.com: Troubled times in the financial markets could mean boom time for Islamic finance. Experts say the non-leveraged, asset-backed Islamic finance system makes it an attractive option for investors worldwide.

Investors who have lost their confidence in conventional financial markets may find the Islamic financing system more attractive. …. Full Article: Source

From Brudirect.com: Innovation and creativity in Islamic banking is too slow as studies show only 25 per cent of Muslims are interested in Islamic financial products and the rest has either vested interest in the conventional methods or has already invested there, said a panelist at the Islamic Finance News Forum.

The statistics show that a lot of Muslims are either doubtful of the products due to the idea that Islamic banking is new or simply unaware of its existence. Besides complying to syariah standards, most Islamic financial banks offer no remuneration, said the forum panelists, adding that this should change….. Full Article: Source

From Bloomberg: The U.K. may allow bonds that comply with Islamic law to be treated the same way as conventional debt securities in a bid to boost Britain’s share of the $97 billion worldwide market for sukuk.

The U.K. Treasury and Financial Services Authority propose that so-called sukuk should be exempt from some regulations covering group investment plans and should be forced to publicly trade as listed securities, according to a paper published today. Sukuk are Sharia-compliant bonds that are based on an underlying asset like property and which forbid the payment of interest. …. Full Article: Source

Cabal Capital Management, LLC announces the launch of the Legacy Fund, a Special Opportunity Fund which provides special alternative investment opportunities in extremely low risk, and very high financial return Advanced High Income Generation Projects through direct investments.

This fund which is not a private equity fund and is Sharia-Compliant, is unlike all other investment pool funds, hedge funds, etc. that exist today by offering investments that are focused on both strategic and tactical investment opportunities into Highly Advanced Income Generating Project(s) producing crucial and vital, very high demand commercially valued product(s) that are being sold directly into the largest “Major” Consumer, Industrial and Governmental Universal Demand Markets in the world. These investments allow risk adverse accredited investors the ability to participate in the revenues generated from these projects which allows for and achieves both capital growth and preservation, while providing the investor an extremely low risk opportunity with the benefit of dependable and sustainable alpha generation and the long term growth from these projects. These fully integrated projects have been designed to last 40 to 50 years or longer (similar to their predecessors) for their life cycles regardless of the global financial and credit markets.. …. For full Press Release visit the site: Source