Posted on 27 May 2009 by Laxman | Email|Print
From Reuters: Debt-laden Kuwaiti Islamic finance firm Investment Dar will brief creditors and investors next month on how its restructuring plan is progressing, the firm said on Tuesday.
Investment Dar, which recently defaulted on a $100 million Islamic debt issue, said in a statement it had convened a meeting for June 8 in the United Arab Emirates…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Tradearabia.com: The prospects for growth in Islamic securities markets are positive despite global credit crunch and economic slowdown.
‘Part of this reflects the windfall from higher commodity prices,’ Central Bank of Bahrain director of financial institutions supervision Abdul Rahman Al Baker told delegates at the opening session of the two-day fifth Annual World Islamic Funds and Capital markets conference at the Gulf Hotel…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Gulf-daily-news.com: Islamic finance and banking have proved more resilient than conventional finance, according to BMB Islamic UK chief executive officer Dr Humayon Dar.
But he is convinced that both will bounce back, certainly by the beginning of next year. BMB is the Sharia advisory partner to the fifth World Islamic Funds and Capital Markets conference…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Business24-7.ae: Daman Investments, the Dubai-based investment management company, yesterday said its open-ended Daman Second Emirates Fund, which is focused on UAE equities, outperformed the index, rising 0.48 per cent against 0.47 per cent decline in NBAD General Index in April. Its net asset value stood at Dh43.45 per unit.
Meanwhile, the Daman Islamic Fund recorded a drop of 0.64 per cent and ended April at a NAV of Dh43.06…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Reuters: Indonesian property firm PT Bakrieland Development Tbk said on Tuesday it wants to raise up to 300 billion rupiah ($29 million) from an Islamic bond issue, or twice the amount previously indicated.
Bakrieland, part of the corporate empire controlled by the family of Indonesian cabinet minister Aburizal Bakrie, said it has appointed PT Bahana Securities and PT Madani Securities as underwriters for the sukuk, due to be issued in July…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Thepeninsulaqatar.com: The Qatar Islamic Bank (QIB) in partnership with its European arm, the European Finance House (EFH), launched Global Sukuk Plus Fund .
The event took place at Grand Hyatt Doha and present were senior QIB, EFH officials and prominent bankers and businessmen…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Tradearabia.com: Shuaa Capital (Shuaa), a Dubai-based investment bank, is considering buying back a convertible bond issue worth Dh1.5 billion ($408.5 million) or altering the price at which the bonds would be converted into shares.
The bank said in a statement today (May 26) that it had extended a deadline to reach an agreement with the Dubai Banking Group over the convertible bond issue until June 4…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Btimes.com.my: Local currency Islamic bonds will be the trend for the next couple of years as companies steer clear from the once popular US dollar bond market, says Kuwait Finance House (Malaysia) Bhd chief executive officer Datuk K. Salman Younis.
The shortage of US dollars in global money markets has also made it too expensive to issue sukuks in the currency…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Menafn.com: Global Investment House- Saudia (Global) announced today that its equity funds, Global Saudi Equity Fund and Global Sharia Compliant Equity Fund (Al-Noor), have recorded competitive returns since their inception.
Global Saudi Equity Fund, a conventional fund launched on 31 January 2009, aims to achieving long term capital growth with predefined and controlled levels of risk, by investing in stocks listed on the Saudi stock exchange…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Tempointeractive.com: Bank Syariah Mandiri of the state-controlled Bank Mandiri reported rising profit in the first quarter of 2009 by 37 percent.
Chief Director of the bank, Yuslam Fauzi said operational revenue hiked 16.24 percent to Rp 558 billion from Rp 480.7 billion in the same period last year, pushing the net profit up to Rp 63.80 percent in the first quarter this year…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Reuters: Thomson Reuters today announced that the largest regional Investment Bank in the Middle East and North Africa, EFG-Hermes has joined its order routing network, expanding the breadth of its exchange trading offering throughout the region.……Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
From Ameinfo.com: Over 200 delegates including CEOs and Heads of Islamic and Conventional Retail Banking from around the world are getting ready to gather in Dubai this October for the inaugural World Islamic Retail Banking Conference under endorsement by ISRA (International Shari’ah Research Academy).
The event is supported by the Islamic Finance Council - UK, the Swiss Islamic Banking & Finance Association, the Bahrain Association of Banks and Arab News of Saudi Arabia…….Full Article: Source
Posted on 27 May 2009 by Laxman | Email|Print
Winners of two prestigious Islamic investment awards were recognised yesterday at an impressive gala dinner ceremony of the 5th Annual World Islamic Funds & Capital Markets Conference, held at the Gulf International Convention Centre, Kingdom of Bahrain.
Hosted in collaboration with the Central Bank of Bahrain and Ernst & Young, the awards are the most prestigious in the industry and were these year presented by Abdul Rahman Mohammed Al-Baker, Executive Director of Financial Institutions Supervision, Central Bank of Bahrain…….Full Press Release: Source
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