From Swissinfo.ch: Despite proving more resilient to the financial crisis than conventional markets, Islamic finance is struggling to reach its full potential. Experts gathered in Lucerne last week agreed that much work still has to be done to bridge the gap between the fledgling Islamic financial sector and Western markets. One Swiss expert said the terms Islamic and sharia were hindering the process.
Until recently, there did not appear to be a particularly compelling case for Islamic banking and insurance services for non-Muslim clients……………………………………….Full Article: Source

From Gulf-daily-news.com: With around 1.6 billion Muslims worldwide and $950bn in assets under the management of the Islamic finance industry, the room for growth in Islamic exchange traded funds (ETFs) is evident.
“There are currently 16 ETFs trading that are benchmarked to Islamic indices, with around $36 million in total assets across the funds,” according to iShares vice-president Robert Broadwell……………………………………….Full Article: Source

From Bloomberg: Nakheel PJSC’s plan to offer Islamic bonds to creditors may revive sukuk trading in the Persian Gulf after new sales fell to a five-year low, according to Moody’s Investors Service and Mashreq Capital DIFC Ltd.
Nakheel, controlled by state-owned Dubai World, may issue as much as $3.2 billion of five-year sukuk to pay contractors as part of its debt restructuring plan, JPMorgan Chase & Co. said in a report Aug. 26……………………………………….Full Article: Source

From Bloomberg: Sudan plans to delay the sale of $300 million of Islamic bonds until next year, after originally planning the sale for 2008, as it waits for global markets to recover from the economic crisis, the central bank governor said.
“The markets that we intend to issue these bonds in, are still affected by the ramifications of the financial crisis,” Sabir al-Hassan said in an interview in the Sudanese capital, Khartoum, today. “We are waiting for the right environment.”………………………………………Full Article: Source

From Aawsat.com: According to a report issued by the General Council for Islamic Banks and Financial Institutions, we could call 2009 the ‘critical year’ throughout the age of Islamic Finance across the Gulf region. In that year, numerous events took place which had an impact on the development of this industry throughout the region.
The Gulf is the ‘cradle’ of this particular industry, the place where it was born and launched. It is also very much the backbone of Islamic finance, with the greatest concentration of assets and institutions……………………………………….Full Article: Source

From Cpifinancial.net: According to the research report Saudi Arabia Insurance Market to 2012 from market research and analytical consultancy RNCOS , Takaful is the fastest growing segments of the Saudi Arabian insurance industry.
“We have found that Saudi Arabia has emerged as the largest market for Takaful insurance followed by Malaysia. Takaful insurance is growing at an annual growth rate of 15-20 per cent globally, but it will grow at faster rate in Saudi Arabia because premium paid by the insured people is considered as donation and not premium……………………………………….Full Article: Source

In the largest project finance deal in the UAE, Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, led the Islamic Tranche of the AED 4.0 billion (US$1.1 billion) Project Finance Facility for Emirates Steel Industries, the UAE’s leading steel maker. Further, ADIB anchored the Facility with an AED 920 million funding, the largest participation.
Emirates Steel Industries sought the facility to expand its steel production capacity and diversify its product offering as part of its strategic plan to become one of the largest integrated steel manufacturers in the region, in line with Abu Dhabi’s vision 2030……………………………………….Full Press Release: Source

From Thenational.ae: Qatar’s natural-gas-fuelled economy is roaring, but its bank stocks have been sputtering, trading at lesser multiples than their peers in Saudi Arabia and Egypt.
The investment bank Nomura thinks this has created an opportunity, and it initiated coverage on three Qatari banks, assigning “buy” ratings yesterday……………………………………….Full Article: Source

From Indiatimes.com: Shares of resource companies in Asia and Latin America offer good buying opportunities for Islamic investors seeking to profit from emerging market growth, a sharia asset manager said on Monday.
Firms which produce commodities from crude palm oil to tin are expected to benefit from strong growth in these regions, said CIMB-Principal Islamic Asset Management, which manages over $350 million for institutional clients in Asia……………………………………….Full Article: Source

From Campusreview.com.au: Islamic banking and finance (IBF) could offer Australian universities a new market, meeting growing demand for teaching, consultancies and experts in the field, according to academics and finance experts.
Australian banks and government agencies have already jumped on the IBF wagon and several universities have followed suit, buoyed by the prospect of a dynamic new branch in a field that already attracts around 30 per cent of university students, including over 50 per cent of international students……………………………………….Full Article: Source

From Tradearabia.com: Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund estimated to be the world’s largest, on Monday named Ted Chu from US automaker General Motors as its chief economist.
Chu, will be based in Abu Dhabi and will be responsible for producing regional and international economic analyses and making recommendations based on the research, the sovereign fund said……………………………………….Full Article: Source