From Financialstandard.com.au: Malaysia is stepping up its push to become a world centre of Islamic finance with the release of a Shari’ah Governance Framework for Islamic Financial institutions that will apply to Islamic organisations from June this year.
Development of the framework reflects concerns the trillion dollar Islamic investment sector, estimated to be equivalent to about 5 per cent of the worldwide investment industry, is stalling……………………………………….Full Article: Source

From Thenationonlineng.net: Uganda has received applications from three Islamic banks in the Middle East to offer Shariah-compliant financial services in the country. “The Middle East investors can start operations either by acquiring a local bank or setting up a new Islamic bank in the country,” Grace Stuart Ndyareeba, deputy director of commercial banking at Bank of Uganda, said in an interview in Jakarta, declining to name the banks.
The African nation is changing its banking rules to allow lenders to operate under Islamic law and representatives from its central bank are in Jakarta to learn from Indonesia’s experience……………………………………….Full Article: Source

From Reuters: Qatar’s central bank will meet with conventional banks to discuss options for their Islamic operations, including pooling Islamic assets into a newly created Islamic bank, a Qatari newspaper said on Tuesday.
Under the proposal, conventional banks, which were told by the central bank to close their Islamic operations by the end of the year, would move their Islamic assets to a new Islamic bank and stakes in the bank would be set by deposits and funds transferred, the daily Al Sharq said, citing banking sources……………………………………….Full Article: Source

From Tradearabia.com: Qatar’s order that conventional banks stop offering Islamic banking services will have a negative impact on those banks and benefit Islamic ones, Moody’s rating agency has said.
‘The loss of Islamic banking franchise is credit-negative for Qatari conventional banks, which derive 10 to 15 per cent of their yearly earnings from Sharia-compliant banking,’ Moody’s was quoted as saying in a report in our sister newspaper Gulf Daily News……………………………………….Full Article: Source

From Ameinfo.com: Emirates Islamic Bank (EIB) announced the launch of their new personal finance product: ‘Investment Murabaha’. With this product, customers will now be able to purchase Sharia Compliant Shares listed on the Abu Dhabi Securities Exchange (ADX) or Dubai Financial Market (DFM).
The customers can hold or sell their shares depending on their objectives i.e growth in their investments or enhancing their funds flow. The product is for UAE Nationals as well as expats and is based on the Wakalah / Murabaha structure……………………………………….Full Article: Source

From Gulf-times.com: Al Khalij Commercial Bank (al khaliji) and Qatar Development Bank (QDB) have signed an agreement to provide project financing for Qatar’s growing number of small and medium enterprises (SME) under QDB’s Al Dhameen programme.
The agreement was signed at the QDB headquarters by Abdulaziz al-Khalifa, director (strategic planning and control) at Qatar Development Bank and Robin McCall, al khaliji acting chief executive officer……………………………………….Full Article: Source

From Arabianbusiness.com: Gulf Arab banks, long trailing international lenders in managing bond sales in the region, are hiring from their global competitors and looking to partner with them in an effort to build fee income.
With their experience, history in the region, greater ability to lend and access to global investors, international banks such as HSBC Holdings and Standard Chartered ]regularly top the Gulf’s bond league tables, a list that ranks banks by the amount of money they helped clients raise……………………………………….Full Article: Source

From Kippreport.com: During his more than 20 years in corporate banking, Jacob Yahiayan, the founder and managing member of New York-based Continental Advisory Services LLC, has structured more than $5 billion in corporate financing in North American and international markets.
In his last management role, he was the assistant general manager and head of corporate banking at a subsidiary of Standard Chartered Bank PLC, based in Beirut……………………………………….Full Article: Source

From Vanguardngr.com: The management of Niger Insurance plc has enjoined members of the insuring public to buy Takaful insurance products as part of efforts to imbibe savings culture.
The company’s Managing Director, Clinton Uranta, made this call during a chat with correspondents in Lagos……………………………………….Full Article: Source

From Gulf-daily-news.com: The insurance market in the GCC is set for a major expansion as the regional economy picks up. Individuals and companies are set to see the industry grow substantially over the next few years, according to financial services firm KPMG audit and advisory director Krishnan Kavasseri.
“At present the percentage of gross national product that is spent on insurance in the region is very low,” he said. “We are still behind countries like Taiwan but that is about to change……………………………………….Full Article: Source

From Khaleejtimes.com: The Sharjah Consultative Council (SCC), on Tuesday morning unanimously passed a new draft law on endowment in the emirate of Sharjah. Dr Obaid Al Tunaiji, Head of Islamic and Municipal Affairs and Public Departments Committee, SCC, said the 59-article bill streamlines all the issues related to endowment or Awqaf – its nature, types, terms and conditions, validity, endorsement, cancellation, and profit distribution.
As per the bill, every legal and Shariah complaint property or money may be endowed. The properties that may be endowed include shares, bonds, securities, trade marks and intellectual property rights, amongst others……………………………………….Full Article: Source