Shariah-compliant products globally stands at over $1.5 trillion. These include equities that conform with Islamic principles, sukuk and Islamic funds, said the Executive Director of Financial Institutions Supervision, Central Bank of Bahrain.
Delivering the inaugural keynote address at the 7th World Islamic Funds and Financial Markets Conference at the Gulf Hotel in Bahrain, Abdul Rahman Al Baker, the Executive Director of Financial Institutions Supervision, Central Bank of Bahrain (CBB), said Islamic asset management industry is an area that has grown to an increasingly substantial segment within the financial markets.”………………………………………Full Article: Source

Despite the recent credit crunch, an increase in commodity prices and global economic slowdown, the Islamic securities markets is poised for solid growth, said a top banker on the sidelines of a major Islamic finance summit in Bahrain.
The geographical spread of Islamic securities products and activities is likely to grow in the Europe, especially the UK and France, Asia Pacific countries, North Africa and the energy-rich Central Asian states, remarked Central Bank of Bahrain (CBB) executive director, financial institutions supervision, Abdul Rahman Al Baker……………………………………….Full Article: Source

Bahrain has so far received “positive” feedback from investors for its plan to sell $1 billion in Islamic bonds next month, Central Bank Governor Rasheed al-Maraj said.
The maturity of the sukuk may be between seven to 10 years, Maraj said in an interview yesterday at Bloomberg’s headquarters in New York. The Persian Gulf island-kingdom plans to use the money to help finance a budget deficit of about 5 percent of gross domestic product, Maraj in a separate Sept. 25 interview at the International Monetary Fund in Washington……………………………………….Full Article: Source

With economic activity once again on the rise in the GCC economies, more and more investments and fund-raising are being done through sukuk (Islamic bond) issuance, according to experts at a key banking summit in Bahrain.
The Islamic funds and investments market must achieve critical mass at a global scale for long-term success, they said at the seventh Annual World Islamic Funds and Financial Markets Conference 2011………………………………………Full Article: Source

Bond sales from the Persian Gulf region have slumped to the lowest level since 2008 as the threat of another global recession fueled the steepest surge in the region’s credit risk in seven quarters.
Sovereign and company debt issuance in the six-nation Gulf Cooperation Council, which includes Saudi Arabia and the United Arab Emirates, have totaled $1.54 billion since June 30, the smallest amount since the last quarter of 2008, data compiled by Bloomberg show……………………………………….Full Article: Source

The value of Nakheel’s Islamic bond, or sukuk, is undervalued in the marketplace, the company’s chairman said.
The Dubai-based property developer, which completed a complex Dh59 billion debt restructuring last month, will issue the final tranche of its $1.63 billion (Dh5.98 billion) Islamic bond by the end of 2011 and also expects to make a profit for the second consecutive year, Ali Rashid Lootah, Nakheel’s Chairman, said following the opening ceremony of the Cityscape Global property exhibition……………………………………….Full Article: Source

Islamic mortgage lender Tamweel , whose shares resumed trading in May, will issue a $300-$500 million sukuk, or Islamic bond, in the fourth quarter, the acting chief executive of the Dubai-based company said on Tuesday.
“The plan is to be out with something in the last quarter,” Varun Sood told reporters at a property event in Dubai, adding the sukuk could be priced in dollars or Malaysian ringgit……………………………………….Full Article: Source

Project Islamic bonds are expected to pick up steam in Saudi Arabia with the launch of the first project sukuk this month as issuers seek to diversify sources of funding following global financial woes that may dry up lending from international banks.
Saudi Arabia, with projects underway worth $623 billion according to the economic weekly MEED, is the largest Gulf markets and is expected to require billions of dollars in financing. Financing has traditionally come from government funds and syndicated loans from local and international banks……………………………………….Full Article: Source

AmIslamic Bank has priced its 10-year non-call five subordinated sukuk at 4.40%, the top end of a revised guidance.
The targeted size of M$600m (US$189m) remains unchanged for, what will be, AmIslamic’s first issue off a M$2bn subordinated sukuk Musyarakah programme set up very recently……………………………………….Full Article: Source

Emirates NBD’s asset management arm and Man Group have announced a tie-up which will see the hedge fund firm manage one of the lender’s Shariah-compliant funds, the companies said on Tuesday.
Man Investments will take over the management of the Emirates Islamic Alternative Strategies Fund, with the assets allocated to the Man GLG Multi-Strategy Fund, as Emirates NBD Asset Management looks to grow the product……………………………………….Full Article: Source

Western bankers and policymakers should learn from Islamic banking principles, argued the president of the Islamic Development Bank in a speech in Low Library on Monday.
Dr. Ahmad Mohamed Ali Al-Madani was introduced by Jeffrey Sachs, director of the Earth Institute and the Quetelet Professor of Sustainable Development at the School of International and Public Affairs. Sachs drew attention to ties between the Earth Institute and the Islamic Development Bank, saying that he has seen the Bank do excellent development work throughout the Islamic world……………………………………….Full Article: Source

An academic, Lukman Abdulraheem, has called on Nigerians to support the adoption of Islamic Banking in the country. Abdulraheem, a lecturer at the Yaba College of Technology, on Monday, in Lagos, said “Islamic banking possesses the power to shoot up Nigeria’s economy from recession to lofty heights”.
According to him, Islamic banking had a lot of benefits that could transform Nigeria’s economy into a “pluralistic economy” as the non-conventional mode of banking, which was hinged on profit-loss sharing between the financial institutions and the customers, would help in lessening the risks borne by customers……………………………………….Full Article: Source

Economic uncertainty and the availability of Islamic finance is driving Middle Eastern real estate investors to look East to markets such as Malaysia, it is claimed.
Middle Eastern investment into Malaysian real estate projects has risen 11.4% in the third quarter of 2011 compared with the same period in 2010, according to figures from IP Global, , a property investment company which specialises in emerging and recovering markets……………………………………….Full Article: Source

Rory Gilbert appointed Managing Director, Head of Middle East and North Africa for International Private Banking, assumes responsibilities of Soha Nashaat who moves to a senior client relationship and strategic advisory role for Barclays Wealth in the MENA region.
Emmanuel Fievet, Head of Barclays Wealth International Private Banking, EMEA, said, “This is a significant appointment for Barclays Wealth, in particular because of our commitment to private banking across the MENA region. ………………………………………Full Article: Source