Turkey’s Islamic banks could continue their recent strong growth if they can cultivate stronger ties with their international owners and create a sustainable brand image, in Standard & Poor’s Ratings Services’ view.
The country’s Islamic banking sector has grown strongly over the past five years, with total sector assets accounting for about 5% of total system assets as of year-end 2010 compared with 2.8% five years earlier……………………………………….Full Article: Source

Home to some 70 million Muslims, Nigeria is stepping up efforts to capitalize on the growing popularity of the one of the world’s fastest-growing financial sectors: Islamic banking. Earlier this year the Central Bank of Nigeria announced a final set of regulations which introduced Islamic banking to the country.
CNN’s Christian Purefoy discussed the sector’s potential with Hajara Adeola, managing director of Lotus Capital, one of the groups helping to pave the way for Islamic finance in Nigeria……………………………………….Full Article: Source

Long the leading force in Asia-Pacific’s Islamic finance industry, Malaysia is facing growing regional competition. Anyone that does business or invests in Asia-Pacific will tell you that, as tempting as it may be, you should not look at the region as a homogenous whole.
Each country has its own political and economic climate, and regulators have a different take on what is permissible. The same is true of Islamic finance in Asia……………………………………….Full Article: Source

We will be looking at the best global franchising opportunities in Islamic finance and banking which are essential reading for any investor, professional or entrepreneur. There are many Islamic financial franchising opportunities around the world.
This article gives you a comprehensive insight into the various franchising opportunities that the Islamic finance sector provides. We will also look closely at the principles of Shariah in dealing with franchises, as well as presenting the best 10 franchising opportunities in the Islamic finance sector……………………………………….Full Article: Source

The CEO of Al Hilal Bank, Mohamed J Berro, waxes poetic when Kipp asks him what Islamic banking means to him.
To read more about Al Hilal’s latest dealings with a certain $500 million Islamic Bond check out this story……………………………………….Full Article: Source

The Islamic Bank of Thailand plans to extend credit aggressively next year after it gets a Bt10-billion capital injection, even though many borrowers are now running into difficulties repaying their home loans because of the rising cost of living.
“Our new loans [excluding loans to support government policies] are expected to expand by 20 per cent next year,” Teerasak Suwanyos, managing director of iBank, said………………………………………Full Article: Source

Meezan Bank, Pakistan’s first and largest Islamic Bank, has entered into a Money Remittance Agreement with Ria Financial services, a wholly owned subsidiary of Euronet Worldwide, Inc. Ria Financial Services was founded in 1987 and today is recognized as the third largest money transfer company in the world, with a global agent network of 100,000 locations in over 130 countries on five continents.
This new partnership will facilitate Pakistanis around the world in sending money to their families and friends in Pakistan by simply visiting any Ria Financial Services location worldwide……………………………………….Full Article: Source

A four-member delegation from the Kuwaiti parliament visited the Luxembourg financial centre, called Luxembourg for Finance, Monday evening to get a first-hand information on the way the banking and finance sector functions in the small European country.
The head of the centre, Fernand Grulms, welcomed the Kuwaiti parliamentarians and briefed them on the activiites of the Luxembourg financial centre which is a public-private partnership between the Luxembourg government and the Luxembourg financial industry federation……………………………………….Full Article: Source

One of the Middle East’s most complex restructurings has completed through the unique use of a sukuk. Lawyers in the region predict the technique will now be used frequently in UAE restructurings.
The landmark restructuring of Nakheel, which had liabilities totalling more than £10 billion ($16 billion), was finalised on August 25 through the sukuk issuance……………………………………….Full Article: Source

Emaar Properties’s Islamic bond generated returns this year that were more than double those of Abu Dhabi’s Aldar Properties as revenue from hotels and malls supported Dubai’s biggest real-estate developer.
Emaar’s 8.5 percent Islamic bond, or sukuk, due 2016 returned 8.2 percent since it first traded January 27, according to data compiled by Bloomberg……………………………………….Full Article: Source

After refraining from investing in the realty sector for the past two years, National Bonds Corporation (NBC) is once again looking at buying income-generating real estate across the UAE.
“At the moment our investment team is continuously evaluating opportunities in income generating real estate sector mainly in the UAE territory,” company Chief Executive Mohammed Qasim Al Ali said……………………………………….Full Article: Source

MAA Takaful Bhd has won an award at the Financial Insights Innovation Awards — Insurance (FIIA-Insurance) from IDC Financial Insights, held at the Asian Insurance Congress in Singapore last week.
In a statement today, MAA Takaful said the FIIA-Insurance programme by IDC Financial Insights recognised achievements of Asia-Pacific insurers in applying innovation to drive business differentiation. It said the FIIA award was presented for its sales automation and agency management system, Innovative Consultation Management System (iCMS), which was developed over a period of two years. ………………………………………Full Article: Source

Saturna Capital Corporation, a U.S. investment management company and adviser to nine mutual funds is celebrating the 25th anniversary of its first client, Amana Income Fund. Since its inception in 1986, Saturna’s flagship Amana Income Fund has grown to $1.3 billion and is now the second largest public equity mutual fund in the world managed according to the principles of Islamic finance. Its sibling fund, Amana Growth, is the largest such fund at $1.9 billion in assets.
Amana Income’s 25-year run is rare in the U.S. mutual fund industry. Out of the roughly 7500 mutual funds currently in operation, only about 300, or 4%, have been around as long as Amana Income. Research shows that the closure rate for U.S. mutual funds throughout the 1990s was around 36%, rising to 56% in the 2000s. Funds that fail to attract investors, often due to poor relative performance or distribution strategies, are regularly merged or liquidated by their managers. (Press Release)