From Gulf-times.com: Citigroup plans to arrange more sales of Islamic bonds, or sukuk, from Turkey after managing a $100mn issue for Kuveyt Turk Katilim Bankasi AS, an executive at the company said.
Citigroup is having talks with other potential sellers of Shariah-compliant debt in the country, said Hulusi Horozoglu, director of global Islamic banking at Citigroup, in an e-mailed response to questions. He said there was “significant appetite” from investors for the Kuveyt Turk sale last month……………………………………….Full Article: Source

From Bernama: AmIslamic Bank Bhd has successfully issued a RM550 million Senior Sukuk under its newly established 30-year RM3 billion Senior Sukuk Musyarakah Programme.
In a statement here Monday, the bank said the programme which has been assigned a long term rating of AA3 by RAM Rating Services Bhd, would enable AmIslamic Bank to tap the capital markets for long-dated funding and improve its asset-liability management, thereby mitigating liquidity and interest rate risk……………………………………….Full Article: Source

From Bloomberg: Abu Dhabi bonds are heading for their best quarter in a year. Union Investment and LCF Edmond de Rothschild CI Ltd. say investors are ready to snap up any new issue from the oil-rich Persian Gulf emirate.
The government’s 6.75 percent dollar-denominated non- Islamic notes due April 2019 have returned 6.6 percent, set for the biggest quarterly gain since September 2009, and more than the 6 percent increase for Qatar’s 5.25 percent debt maturing in January 2020, according to data compiled by Bloomberg……………………………………….Full Article: Source

From Reuters: Qatar First Investment Bank (QFIB) and specialist regional asset manager Gulfmena Alternative Investments plan to set up a sharia-compliant asset management firm to tap into rising demand for Islamic investment products.
The new company will be majority owned by QFIB, while Gulfmena will manage the investments, the companies said in a joint statement on Monday……………………………………….Full Article: Source

From Reuters: BNP Paribas named Tariq Al-Samahiji as global head of its Islamic finance and investments business and chief executive of the bank’s Islamic finance arm, Najmah.
BNP Paribas’s Global Head of Corporate and Investment Banking Alain Papiasse made the announcement in a statement on Monday……………………………………….Full Article: Source

From Thepeninsulaqatar.com: Saudi Hollandi Bank, the kingdom’s oldest bank, will put more focus on retail banking in the short-term to boost profit growth after multi-billion dollar defaults by some Saudi family-owned firms.
The lender, part-owned by Royal Bank of Scotland, does not have a new cost-cutting policy, Managing Director Bernd van Linder said yesterday, after a 50 percent drop in costs led it to a stellar profit growth performance during the second quarter……………………………………….Full Article: Source

From Btimes.com.my: CIMB Islamic Bank Bhd has launched the “Ijarah Property Financing-i”, an Islamic property financing product to finance completed houses or business premises.
Under the new financing scheme, the bank will first lease properties to customers who can take ownership of the assets once financing is completed……………………………………….Full Article: Source

From Gulf-daily-news.com: More than 79 per cent of business leaders across the region are more optimistic about the prospects for Islamic finance than they were a year ago.
That is the main conclusion of a major survey into Islamic finance carried out by business advisory and accountancy firm Deloitte which points out that 61pc of leaders feel that Islamic finance professionals require more training and skills development……………………………………….Full Article: Source

From Cpifinancial.net: Tricor Group, a member of The Bank of East Asia Group, is expanding into Dubai and the Middle East through a new Joint Venture with Praesidium.
“This initiative will make Tricor a leading provider of Back Office Services to conventional and Islamic businesses in the Middle East,” a press release claimed. “Tricor has joined forces with a Dubai based boutique compliance and client advisory practice specialising in both conventional and Islamic Finance, well known globally for its Islamic Finance support services.”………………………………………Full Article: Source

From Bernama: Thirty individuals in Islamic finance from all over the world, being considered, for the inaugural Royal Award for Islamic Finance. The award is spearheaded by the Malaysia Islamic Financial Centre (MIFC) and supported by Bank Negara Malaysia and the Securities Commission.
It will act as a benchmark recognition of the global Islamic Financial industry……………………………………….Full Article: Source

From Khaleejtimes.com: It is said that every cloud has a silver lining. The global economic crisis has not been without one such. The Islamic finance, economics, banking, sukuk (bonds) — subject of debate and doubts just a few years ago — has come to be accepted as an investible, profitable, viable system in the world economic order, and become the subject of summits.
According to Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, in the last decade Islamic finance has evolved into a complete and competitive form of financial intermediation, effectively serving consumers and businesses, both Muslims and non-Muslims;………………………………………Full Article: Source

From Reuters: The first trade creditor has filed a lawsuit against Dubai World’s Nakheel property developer unit with the special tribunal set up to handle disputes over its debt restructuring, which could further delay a settlement.
The tribunal said the suit, filed in mid-August, was served by Dubai-based Construction Delivery Group (CDG)……………………………………….Full Article: Source

Ethica Institute of Islamic Finance and Zawya announced a partnership to jointly deliver online Islamic banking courses and certification. Ethica Institute’s certification is chosen by more professionals and students than any other Islamic finance certificate in the world, and Zawya is widely regarded as the leading provider of business and investment intelligence in the Middle East.
“We are very excited to partner with Zawya to offer their community of business professionals, nearly 1 million visitors per month, with online Islamic finance training and certification,” said Ethica’s Managing Director, Atif Khan. “This historic partnership addresses the greatest need in the industry: practical training developed by scholars and bankers and delivered online around the globe; rather than theoretical training taught by academics and delivered inside a classroom.”………………………………………Full Press Release: Source

From Bernama: MAA Takaful Bhd is expecting RM1 billion in total revenue in five years time with the strengthening of its distribution channels, says Chief Executive Officer Salim Majid Zain.
The contributions will come mainly from life insurance, which currently accounts for 60 per cent of total revenue, with the remaining from the general segment, he told reporters at a press conference here today……………………………………….Full Article: Source

From Allafrica.com: Cornerstone Insurance Plc has established Islamic Insurance (Takaful) division to offer insurance products and services to the huge Moslem population in Nigeria, the chairman of the company, Adetokumbo Sulaiman, has said.
He said this at the 18th Annual General Meeting (AGM) of the firm for 2009 financial year ended 31st December, 2009 held in Lagos……………………………………….Full Article: Source

From Haveeru.com.mv: Spearheading a refreshing experience in insurance through Takaful, Amana Takaful recently entered into a strategic partnership with Global Hospitals Group, India. “Takaful is about partnership and trusteeship and we ventured into this tie-up with the intention of bringing the best possible for our clients in the Maldives”, said Hareez Sulaiman, General Manager, Amana Takaful Maldives.
Through our operations for over 6 years in the country we have been able to secure recognition for our products and services. A pioneering feature, Medical Takaful is one of the highly popular products with ‘cash-less’ facility……………………………………….Full Article: Source

From Mortgagestrategy.co.uk: Islamic mortgages may be regarded as a niche market but they offer opportunities for brokers who work close to large Muslim populations, especially to those who understand the products and the sector.
As with all areas of lending finance for Islamic mortgages suffered in line with the market downturn. A lack of confidence, funding and a reassessment of risk with lower LTV criteria have all contributed to consolidation in what was a growing area of mortgage broking and lending. loans for Islamic lender Alburaq and there was a dedicated resource to brokers referring clients to Alburaq’s team in London……………………………………….Full Article: Source

From AP: Leaders of prominent U.S. Muslim groups called Monday for interfaith dialogue to combat religious intolerance and said they support the right to build a controversial Islamic center near ground zero.
“We stand for the constitutional right of Muslims, and Americans of all faiths, to build houses of worship anywhere in our nation as allowed by local laws and regulations,” the Muslim leaders said in a statement delivered at the site of the proposed Islamic center and mosque, to be called Park51……………………………………….Full Article: Source