Wed, Feb 24, 2021
A A A
Welcome bhaimia
RSS
Islamic Finance Briefing 05.Mar 2010

Posted on 05 March 2010 by Laxman |  Email|Print

From Tradearabia.com: Kuwait’s troubled shareholding company Investment Dar is refusing to pay Lebanon’s Blom Bank $10.7 million, saying that their original deal did not comply with Islamic law, in a move that could pressure the Islamic finance industry.

Dar’s charter prohibits it from entering into non-Islamic transactions………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Jordantimes.com: Bankers on Wednesday urged central banks in Arab and Islamic countries to increase their role in issuing laws and rules to regulate the work of Islamic-based financial institutions. The recommendations were made at the conclusion of the two-day first Islamic Finance and Investment Forum for the Middle East, which took place in the Dead Sea and brought about over 350 bankers and experts from over 15 countries.

The participants also called for training human resources in the field of Islamic banking and finance to support the industry, which according to the experts enjoys “major” potential for growth and opportunities………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From brunei.fm: Belgium is looking into the possibility of getting Brunei Darussalam to be a partner in its quest to establish a niche market in the Islamic finance sector through an Islamic venture capital.

Marc Deschamps, a senior international expert from Wallonia, yesterday said Brunei will be Belgium and Wallonia’s appropriate partner for Southeast Asia………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Maktoob.com: Moody’s Investors Service Thursday downgraded the ratings of seven Abu Dhabi-based companies it had put on review in December by a notch or more saying there’s “no explicit formal” government guarantee to support them.

Moody’s, in an emailed statement, said it lowered Mubadala Development Co.; International Petroleum Investment Co., or IPIC; Tourism Development and Investment Co., or TDIC; Abu Dhabi National Energy Co., or Taqa; Emirates Telecommunications Co., or Etisalat; Dolphin Energy; and Aldar Properties………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Maktoob.com: The Gulf’s asset management industry is gasping for new cash as investors shy away from a region plagued by negative perceptions about debt troubles at top companies, experts say.

Dubai World’s debt revamp and billions of dollars worth of loan defaults by Saudi conglomerates Saad and Al Gosaibi last year have roiled investors who were already wary about parting with their money………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Btimes.com.my: RAM Ratings has received confirmation that Binariang GSM Sdn Bhd (BGSM) has partially redeemed RM3.77 billion of its Senior Sukuk and prepaid US$1.1 billion (US$1 = RM3.37) of its US-denominated term loan on February 25 2010.

BGSM’s Islamic securities consist of a RM19 billion Islamic Medium-Term Notes Programme and a RM2 billion Islamic Commercial Papers Programme (collectively known as the Senior Sukuk)………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Arabnews.com: The Islamic Corporation for the Development of the Private Sector (ICD) has signed a deal to develop small and medium enterprises (SMEs) in Libya.

ICD, the private sector arm of the Islamic Development Bank Group (IDB), will be working with Libya’s National Council for Economic Development (NCED) to implement the deal………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Alwatan.com.kw: National Bank of Kuwait (NBK), the country’’s biggest lender, has obtained outline approval to operate in Syria, its chief executive was quoted by Kuwait News Agency (KUNA).
“We, in the NBK, have decided to establish a bank in Syria. We have already obtained the initial approval of Syrian and Kuwaiti monetary authorities,” Ibrahim Dabdoub said………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Btimes.com.my: HSBC has appointed William Ross as co-head of Islamic Finance, Global Markets, with immediate effect.

In his new role, Ross is responsible for managing the liability side of the Islamic finance business, providing liquidity and risk management services………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Ngrguardiannews.com: Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi Lamido, has offered an insight as to why proposed Islamic bank, Jaiz International Plc, is yet to be granted operational licence.

The CBN boss disclosed that the bank is yet to meet the mandatory N25 billion capital base requirements………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Business24-7.ae: Al Jaber Group will raise $200m (Dh734m) through export credit agency (ECAs) facility and is planning to tap the bond market this year to fund its expansion plans.

The Abu Dhabi-based engineering, construction and manufacturing firm has already managed to raise $200m over the past two years and is looking at doubling that amount by next year, a senior official from the company said………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Bernama: OCBC Bank (Malaysia) Bhd is eyeing sales of RM200 million for its newly launched Pacific ELITE Fund Series this year, its Head of Consumer Financial Services, Charles Sik said.

The equity unit trust series comprises three Islamic funds, Pacific ELIT Islamic AsiaPac Balanced Fund, Pacific ELIT Dana Aman and Pacific ELIT Dana Dividen as well as a conventional fund, Pacific ELITE Dividend Fund………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From Ameinfo.com: Renowned experts in Islamic finance claim that - at the aftermath of the recent crisis - the Gulf region will experience a shift of conventional financial institutions into Shariah-compliant products.
At the same time more Islamic banks are supposed to enter the market. Still there are a lot of misunderstandings and knowledge gaps with respect to Islamic banking principles and products………………………………………..Full Article: Source

Posted on 05 March 2010 by Laxman |  Email|Print

From theedgemalaysia.com: PricewaterhouseCoopers (PwC) has been voted “Best Islamic Consultancy” at the Islamic Finance News Awards Poll 2009 presentation ceremony. The award was received by PwC’s Global Islamic Finance Leader Faiz Azmi.

The PwC Global Islamic Finance Team, located here, in Dubai, London and Bahrain, provides services in the strategy, IT, tax, audit and performance Improvement work to Islamic finance entities globally………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
February 2021
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728