tag:blogger.com,1999:blog-7052582226203822112012-01-29T03:49:05.167+08:00Global Islamic FinanceIslamic finance, investment . wealth management . financial planning . commerce . economyEditornoreply@blogger.comBlogger16951100tag:blogger.com,1999:blog-705258222620382211.post-79419532278842117992012-01-28T04:21:00.000+08:002012-01-28T04:21:29.201+08:00Azerbaijan develops Islamic finance
BAKU, Azerbaijan: Azerbaijan may soon become a regional Islamic financing centre and play a significant role in boosting cooperation in Islamic banking with Persian Gulf and Central Asian countries.
Islamic financing is one of the fastest growing segments of the global financial services industry worldwide. At the same time, interest in Islamic finance as a source of investment is high in the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-23365985794220719492012-01-25T21:57:00.000+08:002012-01-25T21:57:32.629+08:00Islamic banking: Kyrgyzstan, seize the hour!
Economic processes slow down across the world for recent half year. Debt crisis deepens embracing new European countries. Fitch, S&P and Moody's warn that not only banks of Spain, Greece, and Portugal are at risk but biggest backbone banks of Germany, Austria, Great Britain and France. Their bankruptcy is fraught with collapse of Eurozone.China also concerns in a new wave of the crisis. Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-15471315573464953302012-01-24T03:08:00.000+08:002012-01-24T03:08:56.211+08:00Malaysia: Infrastructure sukuk receives a major boost
Infrastructure sukuk has received a major boost when Projek Lebuhraya Usahasama Berhad (PLUS Berhad) last week closed a record landmark RM30.6 billion sukuk issuance program comprising both government guaranteed (GG) and non-government guaranteed AAA-rated (AAA) issuances of varying tenors, sizes and expected returns and yields to maturity (YTMs).The issuance was through PLUS Malaysia Sdn Bh, Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-16512787013286865872012-01-24T03:06:00.001+08:002012-01-24T03:07:01.596+08:00Islamic financial, business & management events in Kuala Lumpur in 201221-22 February 2012: KL Conference on Islamic Wealth Management
20-21 March 2012: KL Conference on Islamic Finance
9-10 April 2012: Workshop on Islamic Trade Financing
To register or reserve a seat online, please go to:
http://www.alfalahconsulting.com/p/registration-form.htmlEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-20700933063966194842012-01-24T03:04:00.000+08:002012-01-24T03:04:22.017+08:00Qatar Islamic banking directive to set example for other markets
The deadline of Dec. 31, 2011, as per the directive issued by the Central Bank of Qatar (CBQ) in January 2011 requiring the country's conventional banks which have opened Islamic banking windows to close them down, has passed almost unnoticed.Despite the initial outcry at the time of the announcement of the directive stressing that it was too arbitrary and the grace period was too tight, there Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-7779046603477529282012-01-23T07:35:00.000+08:002012-01-23T07:35:55.982+08:00AAOIFI's Shari'a Board Resolutions on Sukuk-English version
In the name of Allah, the Beneficent, the Merciful. Praise be to Allah, and peace and blessings on His Noble Prophet and on his family and Companions
As to what follows: The Shari'ah Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), in view of the increased use of Sukuk worldwide, the public interest in them, and the observations and questions raisedEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-12846079800693776222012-01-23T07:11:00.000+08:002012-01-23T07:11:32.247+08:00Egypt May Sell Foreign-Currency Sukuk, Deposit CertificatesEgypt may issue an Islamic bond or alternatively certificates of deposit in foreign currency for Egyptians abroad, the finance minister said.“We are studying issuing sukuk,” or Islamic bonds, Mumtaz el-Saeed said by telephone in Cairo. “We are comparing the benefits of issuing certificates of deposit with those of sukuk for Egyptians abroad,” adding that his preference is for the certificates. Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-84534232684396823962012-01-16T21:05:00.001+08:002012-01-16T21:08:43.054+08:00HSBC Amanah expects global sukuk issuance to grow to US$44bil in 2012KUALA LUMPUR: HSBC Amanah expects global sukuk issuance to grow to US$44 billion in 2012 from US$26.5 billion last year.Malaysia was forecast to account for 60 per cent of the total while the Middle East and North Africa (MENA) region 32 per cent, the bank said in a statement today.It also said governments and government-related entities were likely to account for 50 per cent while the finance Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-47128320989817722822012-01-02T23:52:00.000+08:002012-01-02T23:52:24.596+08:00Saudi budget implies growing role for Islamic finance
At first glance there is no direct mention of the role of Islamic banking and finance in the Kingdom's economy in the 2012 Saudi national budget announced last week in Riyadh.
But reading between the lines and judging by some of the initiatives launched by various agencies, banks and corporates in the Kingdom leading up to the budget announcement, it is clear that the Islamic finance industry isEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-55854484957693323242011-12-31T14:49:00.001+08:002011-12-31T14:51:31.500+08:00Islamic money market starts its operations in Bangladesh
By Mizan Rahman
The Islamic money market began its journey in Bangladesh yesterday aiming to facilitate liquidity management of the Shariah-based Islamic banks and financial institutions.
“We’ve already started the operation of Islamic Inter-bank Fund Market (IIFM) for the first time in Bangladesh from Thursday, the last working day of this month,” a senior official of the central Bangladesh Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-24090288994586240192011-12-31T13:03:00.000+08:002011-12-31T13:03:20.115+08:00Forbidden list for business transactionIslam has not provided any exhaustive list of halal (permitted) business transactions. In fact, no list of this nature has been provided by the blessed Prophet (peace and blessings of Allah be to him). Rather, the guiding principle is that everything that has not been forbidden (declared as haram) is permitted. Hence a list of items and traits that make something forbidden has been described by Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-72004696023361744832011-12-29T18:39:00.000+08:002011-12-29T18:39:30.174+08:00Libya: Libyan Islamic banking law seen in March 2012
TRIPOLI: Libyan central bank may finalise Islamic finance regulations by March, in what would be the first major step towards introducing sharia-compliant banking in the country.The bank's deputy governor, Ali Mohammed Salem, also told Reuters in an interview on Tuesday the exchange rate of the Libyan dinar would be fixed for up to three years, pegged to the IMF's special drawing right currency Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-1067562751006693332011-12-29T06:56:00.000+08:002011-12-29T06:56:58.538+08:00Kashmir Aspires to Islamic Banking
Aspiring for a share of the booming industry, a leading Muslim leader has called for establishing an Islamic banking system in the Muslims-majority valley of Kashmir, reported the Greater Kashmirnewspaper.“We will not refrain from meeting RBI [Reserve Bank of India] and other government agencies if needed for establishing Islamic Banking,” Mirwaiz Umar Farooq, chairman of Hurriyat Conference, Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-54221831426863751242011-12-29T06:01:00.000+08:002011-12-29T06:01:18.634+08:00Qatar: QIB acquires IBQ’s Islamic banking corporate portfolioDoha: Qatar Islamic Bank (QIB) has announced the acquisition of IBQ’s Islamic banking corporate portfolio (Al Yusr). An agreement to seal the deal was signed by Ahmad Meshari, Acting CEO of QIB and George Nasra, IBQ Managing Director.The transaction has received the approval of the Shariah Boards of both the banks.Under the terms of the agreement, IBQ’s Islamic corporate financing facilities and Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-75857113577447139922011-12-27T01:51:00.001+08:002011-12-27T01:52:28.397+08:00Islamic financial conferences in Kuala Lumpur Malaysia in 2012
21-22 February 2011:
KL Conference on Islamic Wealth Management
20-21 March 2012:
KL Conference on Islamic FinanceFor more info and registration,
please visit www.alfalahconsulting.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-5507073297819367202011-12-27T01:38:00.001+08:002011-12-27T01:45:43.559+08:00Islamic Finance Role in Equity Marketsby Salman Ahmed Shaikh
It is a well documented and known fact that equity financing is regarded as more just and close to Islamic principles than debt based financing. Almost all of academic literature on Islamic Banking and Finance obtains its legitimacy and support by the mention of preferable equity modes of financing like Mudarabah and Musharakah. Irony is that if they are preferable modes,Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-21519370346159934702011-12-27T00:24:00.000+08:002011-12-27T00:24:50.442+08:0010 Secrets of Shari'ah Compliance of Fund ManagementAny fund management company which intends to offer its products and services with Shari'ah compliance to the financial markets, is recommended with the following '10' Secrets of success:1. Establishment of a Shari’ah Council (comprising of at least 3 members with Shari’ah knowledge) to analyze and duly endorse on at least a quarterly basis all enforceable policies, guidelines, products and other Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-57810079939630707022011-12-26T01:02:00.000+08:002011-12-26T01:02:14.905+08:00Kenya: Sharia-compliant insurer optimistic
Islamic finance took centre stage in Kenya in 2011 with the launch of the first ever Sharia-compliant insurance firm in the country.Takaful Insurance of Africa, which was founded in 2008 but formally licensed in 2011, is considered as the first insurance operator in the region which adheres to Islamic ethical principles in its dealings.However, despite the excitement that saw the introduction ofEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-35587980932063514512011-12-25T21:19:00.000+08:002011-12-25T21:19:56.034+08:00Malaysia: PLUS Berhad in record RM23.4 billion (US$7.3 billion) sukuk (Islamic bond) sale
PLUS Berhad’s record RM23.4 billion (US$7.3 billion) Islamic bond sale is attracting life insurers with higher-than-average yields and maturities of as much as 25 years.
The Malaysian company is taking over the nation’s biggest toll-road operator PLUS Expressways Bhd in the first leveraged buyout using syariah-compliant bonds. PLUS offered RM11.3 billion of sukuk at a maximum yield of 5.07 perEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-37294130088659070752011-12-24T21:23:00.002+08:002011-12-24T21:23:32.821+08:00Malaysia, Emirates plan sukuk to fund aircraft
Malaysian Airline System Bhd (MAS) and AirAsia X Sdn are joining Emirates in planning sales of Islamic bonds as banks curb lending on Europe’s debt crisis.
MAS, voted Asia’s leading air carrier by World Travel Awards this year, may sell sukuk to partly fund an order for RM12 billion (US$3.8 billion) of aircraft due to be delivered by the end of 2014, chief executive officer Ahmad Jauhari Yayha Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-43603595143772500632011-12-24T00:51:00.000+08:002011-12-24T00:51:37.886+08:00Sukuk market is the fastest growing segment of international finance
"The sukuk market is the fastest growing part of Islamic finance. Indeed it is one of the fastest growing segments in the global financial market. Having attracted interest from the business community worldwide, it has helped place Islamic finance as a viable industry and as an asset class that is not confined to Muslim countries but as part and parcel of the international financial market," Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-61428430722200678752011-12-12T12:04:00.000+08:002011-12-12T12:04:15.115+08:00Translation of basmallah ( بِسْمِ اللَّهِ الرَّحْمَـٰنِ الرَّحِيمِ ) in 9 languages
بِسْمِ اللَّهِ الرَّحْمَـٰنِ الرَّحِيمِ
Transliteration: Bismi Allahi alrrahmani alrraheemi
Yusuf Ali: In the name of Allah, Most Gracious, Most Merciful.
Shakir: In the name of Allah, the Beneficent, the Merciful.
Pickthal: In the name of Allah, the Beneficent, the Merciful.
Mohsin Khan: In the Name of Allah, the Most Gracious, the Most Merciful
French: Au nom d'Allah, le Tout Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-75626739492581079302011-12-12T10:49:00.000+08:002011-12-12T10:49:57.349+08:00Demand for Shariah-compliant political risk insurance (PRI) increases in MENA
In these volatile times managing global political risks is a major challenge for investors and financiers alike. As the global economic and financial crisis and its impact on markets the world over; the euro zone sovereign debt crisis; and the fallout of the Arab Spring continue to fester, demand for investment, political risk and sovereign risk insurance is soaring as part of risk management Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-77626640446351731392011-12-12T10:05:00.000+08:002011-12-12T10:05:19.729+08:00Press Release : Industry Experts to Share Expertise at KL Conference on Islamic Wealth ManagementKUALA LUMPUR, Dec 5: Industry experts are set to share their wide spectrum of expertise at the upcoming Kuala Lumpur Conference on Islamic Wealth Management 2011.
The two-day conference from Dec 20 is organized by Kuala Lumpur-based Alfalah Consulting, an international consulting and training provider specialized in the areas of Islamic finance, Islamic wealth management, business & management Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-7908696081195435322011-12-10T16:07:00.000+08:002011-12-10T16:07:30.193+08:00India needs Islamic Finance for infrastructure development: ExpertsNew Delhi: Islamic finance has emerged as a viable alternative world over after the financial meltdown of the West. It is growing at the rate of more than 15%. Not only Muslim countries but modern, secular and industrialized countries like UK, France, Japan, Singapore and Hong Kong have become hub of Islamic finance & banking, said experts on Islamic banking and finance while urging India to openEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-66827652214855427732011-12-10T15:27:00.001+08:002011-12-10T15:27:32.149+08:00Bahrain: GIB completes sukuk pricingMANAMA: Gulf Inter-national Bank (GIB) has completed the pricing and closing of a three-year $300 million Sukuk Al Murabaha private placement.The sukuk certificates will pay a profit rate of six-month US dollar Libor plus 130 base points on a semi-annual basis, and will mature on December 7, 2014.The sukuk offering was successfully placed with a number of institutional investors, with JP Morgan Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-27745829097588915032011-12-10T13:27:00.002+08:002011-12-12T10:01:11.598+08:00Malaysia: Exciting times ahead for Islamic capital marketThe Islamic capital market will sustain its growth momentum over the next decade. Its next phase of growth will be characterized primarily by greater internationalization, which will help address some of the challenges faced by the industry and will provide Malaysia the opportunity to strengthen its position as a hub for Islamic capital market activities. This is the prediction of the Securities Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-78246456649438662832011-12-10T12:38:00.000+08:002011-12-10T12:38:26.937+08:00Malaysia: Opportunity to expand Islamic finance offeringsKUALA LUMPUR: As international markets are perched precariously on the edge of a global financial abyss, a small window of opportunity has sprung up for Malaysia to spread its Islamic finance wings internationally.“There is an opportunity now but the window is small,” International Investor country publisher Cory D'Abreo said, an observation seconded by the Global University of Islamic Finance (Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-15122577723033377092011-12-09T17:52:00.003+08:002011-12-09T18:29:11.204+08:00INDIA: Kerala is seeking regulatory approvals from SEBI for Shariah-compliant NBFCAfter its dream of launching the country’s first Islamic bank got shattered by the banking regulator, the Kerala state government now plans to launch a non-banking finance company (NBFC) that will offer Shariah-compliant private equity, venture capital, portfolio management services and mutual funds.
Speaking on the sidelines of a conference organised by the Indo Arab Chamber of Commerce and Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-19540391018657532132011-12-09T17:37:00.003+08:002011-12-09T18:28:28.197+08:00Nigeria: Embrace Islamic Banking, Sanusi Tells Western NationsGovernor, Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has urged Western nations to embrace Islamic banking.Sanusi, who said this at the annual conference of the Muslim Students’ Society of Nigeria (MSSN), Lagos State Area Unit, held at Adeyemi Bero Hall, Alausa Ikeja, Lagos, added that it would help in giving a face lift to their economic crisis.Represented by his Special Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-4275236218087276342011-12-07T11:02:00.001+08:002011-12-07T11:03:37.027+08:00South Africa considers issuing Islamic bonds
JOHANNESBURG (Reuters) - South Africa's National Treasury is considering issuing Islamic bonds to diversify its investor base and could have its first sukuk in the market as early as the next financial year if approved.
"There is a great interest in the sukuk market and this is the first step towards meeting the growing appetite for government-backed shariah-compliant investments," said Lungisa Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-90540046300004423702011-12-05T15:49:00.002+08:002011-12-05T15:49:56.454+08:00Press Release : Industry Experts to Share Expertise at KL Conference on Islamic Wealth ManagementKUALA LUMPUR, Dec 5: Industry experts are set to share their wide spectrum of expertise at the upcoming Kuala Lumpur Conference on Islamic Wealth Management 2011.
The two-day conference from Dec 20 is organized by Kuala Lumpur-based Alfalah Consulting, an international consulting and training provider specialized in the areas of Islamic finance, Islamic wealth management, business & management Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-65134365778721885862011-12-05T15:39:00.000+08:002011-12-05T15:39:28.372+08:00Shari’ah Governance for Islamic Financial InstitutionsEarlier this year we reported on Shari’ah governance, particularly the shortage of suitably qualified scholars and the potential conflicts of interest arising from scholars serving on multiple Shari’ah boards. This paper given by Professor Rodney Wilson in September 2009 provides a more detailed background, which goes some way to explaining how and why Shari’ah governance varies from region to Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-27564194788639943012011-12-04T14:51:00.000+08:002011-12-04T14:51:42.262+08:00Islamic finance grows as Western debt crisis deepensChicago native Mariam Khan never considered Islamic banking until her husband moved the family to Dubai in 2007. But the 36-year-old housewife is a believer now as the Western debt crisis deepens. Her husband opened a family account with HSBC Amanah, the Islamic arm of international bank HSBC.
“When I look at the damage that an interest-based system has done to the U.S. and Europe, I can Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-76669931434914494102011-12-04T14:49:00.001+08:002011-12-04T15:18:45.683+08:00Islamic Perspective on The Global Financial Crisis
The world’s banking sector relies heavily on interest payments from money borrowers to sustain itself and generate profits.But what happens when borrowers default on their payments in record numbers?The system spirals downwards out of control.In the Islamic banking system, financial institutions are forbidden from paying or charging interest.While money can be loaned, the loan is based on an Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-51088319913698678882011-12-04T14:13:00.000+08:002011-12-04T14:13:58.552+08:00The Place of Custom in Islamic LawThe International Council for the OIC Fiqh Academy, in its 5th session, held in Kuwait from 1-6 Jumada al-Ula, 1409 AH (corresponding to 10-15 December, 1988) having reviewed the research presented by the members and experts on the topic of customary practice, and having listen to the deliberations about it, resolved the following:1. Urf (custom) is something that people have become used to Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-52098683648599936692011-11-28T18:29:00.000+08:002011-11-28T18:29:55.569+08:00First Islamic Interbank Benchmark Rate Launched
Giving a boost to the booming Islamic finance, a consortium of banks and financial institutions launched Tuesday, November 22, the industry’s first international Islamic interbank rate."The establishment of the IIBR marks an important milestone in the maturation of Islamic money markets by providing an international reference rate for interbank transactions," Nasser Saidi, chairman of the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-46589882582484228192011-11-17T21:56:00.000+08:002011-11-17T21:56:02.650+08:00Indonesia Sells $1 Billion Sukuk at Half 2009 Yield LevelNov. 15 (Bloomberg) -- Indonesia sold $1 billion of Islamic bonds at half the rate of its 2009 debut and more than two percentage points lower than a sale by Italy, supporting the Asian nation’s claim for an investment-grade rating.The 2018 dollar securities were sold at 4 percent, data compiled by Bloomberg show. The nation issued $650 million worth of five-year sukuk in April 2009 at 8.8 Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-55592096390329679812011-11-17T20:55:00.000+08:002011-11-17T20:55:53.028+08:00Halal industry should work with Islamic financeKUALA LUMPUR: Despite the halal industry’s rapid growth, it is missing out on opportunities to tap into Islamic finance, panel members said.
“There is a disconnect between the halal industry and Islamic financing, which is ironic since we’re working within the same religion, but are not talking to each other,” said Thomson Reuters head of Islamic finance (Asia) Rafiza Ghazali at a discussion on Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-79239667361538260462011-11-15T22:25:00.000+08:002011-11-15T22:25:17.730+08:00Islamic finance may double in assets by 2016 - Deutsche Bank
15 Nov 2011 (Reuters) - The global debt crisis may help Islamic finance nearly double to $1.8 trillion in assets by 2016 as stagnant corporate lending pushes institutions to seek alternative financing to traditional methods, according to a report by Deutsche Bank.The bank forecasts that there is over $2 trillion of deleveraging in the United States and Europe, creating a financing glut for both Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-55786504447598480262011-10-09T21:24:00.001+08:002011-10-09T21:28:59.662+08:00Halal and Islamic finance markets will converge, says Al Islami CEO
The $1 trillion (AED3.68 trillion) global Islamic finance industry is in the process of developing a road-map to converge on $651 billion (AED2.4 trillion) halal market, says Saleh Abdullah Lootah, Managing Director of Al Islami Foods. He was speaking during the 8th Kuala Lumpur Islamic Finance Forum 2011 (KLIFF).“Islamic stock exchange for both Islamic financial services and halal FMCG Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-1594037892629697492011-10-09T20:52:00.000+08:002011-10-09T20:52:20.098+08:00Islamic banks urged to boost short-term syariah-compliant products
KUALA LUMPUR (4 Oct 2011) : Islamic banks in the country Malaysia have been urged to introduce more short-term syariah-compliant products to attract foreign investors.
We always have investors in Malaysia looking for syariah-shariah compliant products and sometimes, from the risk management perspective, because of due to the risk management perspective, they are constrained in putting their Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-22418713531792564322011-10-09T16:27:00.000+08:002011-10-09T16:27:56.710+08:00Malaysian Islamic Banking Assets Rise 15 Percent to $123 Billion
7 Oct. 2011(Bloomberg) -- Malaysia’s Islamic banking assets rose 15 percent to 389.3 billion ringgit ($123 billion) in the first seven months of 2011, strengthening the country’s position as the global hub for Shariah-compliant financing, a government report said.Assets that comply with Islam’s ban on interest climbed to 21 percent of Malaysia’s total banking system in July from the same periodEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-78464007418855497582011-10-03T12:38:00.000+08:002011-10-03T12:38:19.915+08:00Islamic finance spreads in Nigeria
Lagos, Nigeria (CNN) : 7 Sep 2011 -- 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 Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-46183908247207258662011-08-20T09:14:00.000+08:002011-08-20T09:14:58.942+08:00Islamic Finance Events in Kuala Lumpur, Malaysia 2011KL Conference on Islamic Wealth Management : 19-20 Oct 2011
event site: http://islamic-wealth-management.net/
KL Conference on Islamic Finance : 19-20 Dec 2011
event site : http://islamic-finance-conference.net/
Venue: GTower Hotel, Kuala Lumpur, Malaysia (5-star green-certified business hotel)
Organiser: Alfalah Consulting (international Islamic finance & business consultant)
web site: http:Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-2057651262745198712011-05-26T17:17:00.003+08:002011-05-26T17:24:20.903+08:00Press Release : Alfalah Consulting to Organise Islamic Wealth Management Conference
KUALA LUMPUR, May 24 (Bernama) : Kuala Lumpur-based Alfalah Consulting, is organising the KL Conference on Islamic Wealth Management 2011 over two days from July 6 here.The company is an international consulting and training provider specialised in the area of Islamic finance, business, management, personal and professional development and motivation.The conference would explore key principlesEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-40949468241690972642011-05-16T14:51:00.007+08:002011-06-11T07:28:40.339+08:00KL Conference on Islamic Wealth Management 2011
KL Conference on Islamic Wealth Management 2011
Date : 6-7 July 2011Venue : The Royale Chulan Kuala Lumpur, Malaysia
“An international gathering of practitioners, scholars and experts to discuss and share their knowledge, expertise and experience on the principles, instruments and issues related to Islamic wealth management and financial planning to be held at the world’s leading IslamicEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-75554282818380560852011-05-14T08:05:00.000+08:002011-05-14T08:05:14.983+08:00Islamic finance and wealth management conferences in Kuala Lumpur Malaysia (July 2011)
6-7 July 2011
KL Conference on Islamic Wealth Management
The Royale Chulan Hotel, Kuala Lumpur
18-19 June 2011
KL Conference on Islamic Finance
The Royale Chulan Hotel, Kuala Lumpur
Please visit: http://alfalahconsulting.com/
View event schedule, download brochure and register here
-------------------------Alfalah Consulting: http://alfalahconsulting.comCEO / Consultant: http://Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-50888860285777530982011-04-28T22:41:00.000+08:002011-04-28T22:41:52.136+08:00Socially Acceptable Market Investments (Sami) Halal Food Index
The newly launched Socially Acceptable Market Investments (Sami) Halal Food Index has a market capitalisation in excess of $114 billion (Dh418 billion).The world's first Halal Food Index was unveiled at the opening of WHF 2011 by Tun Abdullah Ahmad Badawi, former Malaysian prime minister.Experts say the index will be a bridge-builder for Islamic funds, exchange-traded funds and sukuks as well asEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-59934046396597755502011-04-25T11:09:00.000+08:002011-04-25T11:09:54.705+08:00Faraid law - Muslim estate distributionNote: To use this table, the reader should first ascertain whether the deceased left a wife or husband, and if she or he survived, should look under the appropriate heading. Only in default of either should search be made under “sons and daughters”, “father and mother” and the rest, and then in the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-87496619982095214732011-04-19T12:14:00.000+08:002011-04-19T12:14:24.986+08:00Islamic Finance ConsultingIslamic finance consulting >> http://alfalahconsulting.com
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Alfalah Consulting: http://alfalahconsulting.com
Consultant/Trainer: http://ahmad-sanusi-husain.com
Islamic Investment: http://islamic-invest-malaysia.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-40551734398693563292011-04-19T12:10:00.000+08:002011-04-19T12:10:02.839+08:00Islamic Finance ConferenceIslamic finance conference >> http://alfalahconsulting.com
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Alfalah Consulting: http://alfalahconsulting.com
Consultant/Trainer: http://ahmad-sanusi-husain.com
Islamic Investment: http://islamic-invest-malaysia.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-60632111327350824052011-04-19T12:08:00.000+08:002011-04-19T12:08:08.879+08:00Islamic Finance NewsIslamic finance news >> http://alfalahconsulting.com
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Alfalah Consulting: http://alfalahconsulting.com
Consultant/Trainer: http://ahmad-sanusi-husain.com
Islamic Investment: http://islamic-invest-malaysia.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-21622507013509685112011-04-19T12:06:00.000+08:002011-04-19T12:06:25.531+08:00Islamic Finance TrainingIslamic finance training >> http://alfalahconsulting.com
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Alfalah Consulting: http://alfalahconsulting.com
Consultant/Trainer: http://ahmad-sanusi-husain.com
Islamic Investment: http://islamic-invest-malaysia.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-9033044823272437592011-04-08T22:21:00.000+08:002011-04-08T22:21:34.139+08:00Consulting, Training and Advisory Services on Islamic Finance and Wealth Management
Consulting, training and advisory services on Islamic finance and wealth management:
http://www.alfalahconsulting.com
Kuala Lumpur, MalaysiaEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-9121952829060621242011-04-06T18:27:00.000+08:002011-04-06T18:27:57.783+08:00Islamic laws of finance a cushion in hard times - story American MuslimsThe recession gripping the nation has taken less of a toll on American Muslims who follow age-old Islamic laws against paying – or charging – interest.They've also been shielded by socially responsible retirement plans because Shariah– Islamic law – forbids investments in banks and mortgages as well as tobacco, alcohol, gambling, pornography or weapons."If everybody was Shariah-compliant, there Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-74250500947881194212011-04-05T07:28:00.000+08:002011-04-05T07:28:47.208+08:00Indonesia: Islamic finance looks to build
The Islamic financial sector in Indonesia is hoping a mix of state-backed infrastructure projects and regulatory reforms will help the country’s sharia-compliant lenders to continue their rapid expansion, allowing the industry to realize its full potential and to come out of the shadows of other regional banking powers.
Indonesia was a relative late-comer to the Islamic finance sector, only Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-55105338510410179392011-04-05T07:02:00.000+08:002011-04-05T07:02:18.160+08:00Quranic Verses on Riba (Interest/Usury)(1) Those who swallow down usury cannot arise except as one whom Shaitan has prostrated by (his) touch does rise. That is because they say, trading is only like usury; and Allah has allowed trading and forbidden usury. To whomsoever then the admonition has come from his Lord, then he desists, he shall have what has already passed, and his affair is in the hands of Allah; and whoever returns (to Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-34463253696144505162011-04-02T12:37:00.001+08:002011-04-02T12:37:43.349+08:0099 Islamic Legal MaximsMuslim Jurists have grouped questions of jurisprudence under certain general rules each one of which embraces a large number of questions. These general rules are taken in the treatises on jurisprudence, as justification to prove these question. (These preliminary study of these rules facilitates the comprehension of the questions and serves to fix them on the mind.) Consequently the ninety-nine Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-34834389984512267122011-04-02T12:33:00.004+08:002011-11-29T22:27:46.831+08:00What is Faraid?Faraid is that section of the Islamic law that deals with the distribution of the estate of a deceased person among his heirs in accordance with Allah's (God) decree in the Holy Quran and according to the hadith or tradition of the Messenger of Allah (peace be upon him).
What is an estate?
Estate is all the assets and liabilities of a deceasedEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-9101800271320807722011-04-02T12:31:00.002+08:002011-11-29T22:25:46.389+08:00Quranic verses on Riba (usury / interest)Quran and Sunnah are two major sources of Shariah which form the basis of Islamic finance. Below are some verses from the Holy Quran related to the prohibition of Riba (usury/interest):
(1) Those who eat Riba (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitan (Satan) leading him to insanity. That is because they say: "Trading is only like Editornoreply@blogger.com2tag:blogger.com,1999:blog-705258222620382211.post-7401998515188523642011-04-02T12:30:00.002+08:002011-11-30T00:48:38.606+08:00Recipients of Zakah
In Al-Quran surah At-Taubah verses 60, Allah said: "As-sadaqaat (here means zakah) are only for the fuqaraa (poor), and al-masaakin (poor) and those employed to collect (the funds) and to attract the hearts of those who have been inclined (toward Islam), and to free captives, and for those in debt, and for Allah's cause (i.e. for mujahiduun - those fighting in a holy battle) and for the wayfarerEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-12528713331512655162011-04-02T12:11:00.001+08:002011-04-02T12:18:09.600+08:00Frequently Asked Questions about Zakat
Ahmad Sakr answered some of the frequently asked questions about Zakah. Ahmad Sakr studied Islam in Lebanon for 12 years with 20 different scholars form all parts of the Middle East. He learned Quran, Hadith, Fiqh, Seerah and Dawa from them.
Sakr is also director of the Islamic Education Center in Walnut, California.
These are the questions and answers he has given. (Please note that Imams Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-31118810725948663082011-04-02T11:41:00.000+08:002011-04-02T11:41:58.243+08:00Could Islamic finance have prevented the global economic crisis?A question that is often discussed is: if the global economic crisis triggered by the housing bubble burst and the sub-prime credit crisis in the US would have been averted if the Islamic finance framework were in place. It is a question that is asked often and one that has generated global interest. The answer is that in principle, Islamic finance may have prevented the sub-prime crisis leadingEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-69560501601589168212011-03-25T18:41:00.000+08:002011-03-25T18:41:58.022+08:00Alfalah Consulting is organising Islamic finance and wealth management conferences in KLAlfalah Consulting is organising Islamic finance and wealth management conferences in KL.
Please visit the orgaiser's web site: http://www.alfalahconsulting.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-75669387332967795772011-03-23T22:41:00.001+08:002011-03-23T22:42:28.647+08:00Malaysia Islamic Banking Assets Rise 16 Percent to $116 Billion
Islamic banking assets in Malaysia, the world’s biggest market for Shariah-compliant debt, rose 16 percent last year after the government approved new licenses and eased restrictions on foreign ownership, the central bank said.Assets that comply with Islam’s ban on interest increased to 350.8 billion ringgit ($116 billion) and accounted for 21 percent of the total banking system, according to Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-9181680958772073102011-03-10T16:52:00.000+08:002011-03-10T16:52:33.112+08:00Islamic financial events in Kuala Lumpur 2011Alfalah Consulting is organising:
1) KL International Conference on Islamic Wealth Management: 14-15 June 2011
2) KL International Conference on Islamic Finance: 18-19 July 2011
For more info or to register please visit > http://www.alfalah-consulting.comEditornoreply@blogger.com1tag:blogger.com,1999:blog-705258222620382211.post-22400829238871932312011-02-21T03:02:00.001+08:002011-02-21T03:05:02.931+08:00Profit for delayed period of project is not Shariah-compliant: Dubai Grand Mufti
Charging of profit for the delayed period in Islamic finance property projects has been described as non-Islamic or 'haram' by the Dubai Grand Mufti, Dr Ali Mashael.Some Islamic banks and mortgage companies have asked investors to pay advance installments (the rental profit or Ijara) even though an already delayed project is not yet completed or handed over.Many Islamic finance projects are Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-11997217962715058322011-02-20T13:36:00.003+08:002011-02-20T13:41:37.808+08:00Islamic banking burgeoning in IndonesiaIt is only in Indonesia that Sharia banking assets are growing at the rates never seen before, reaching 47 percent to US11.14 billion dollars in 2010.
Transactions are done like regular banks here in Bank Syariah Mandiri Jakarta, one of the biggest Sharia commercial banks in the country with up to 530 branches scattered throughout the nation.
And like most banks, Sharia commercial banks also Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-14244895119700934662011-02-19T09:42:00.002+08:002011-02-19T09:44:13.583+08:00KL CONFERENCE ON ISLAMIC WEALTH MANAGEMENT : 26-27 April 2011
KL CONFERENCE ON ISLAMIC WEALTH MANAGEMENT
Date: 26-27 April 2011
Venue: Hotel Istana Kuala Lumpur, Malaysia
http://www.alfalah-consulting.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-13063063998680242232011-02-15T09:17:00.001+08:002011-02-15T09:21:12.470+08:00Malaysia: New Syariah Governance Framework to boost progress of Islamic finance
KUALA LUMPUR, Monday 14 February 2011 (Bernama) -- The new Shariah Governance Framework for Islamic Financial Institutions 2011 introduced by Bank Negara Malaysia (BNM) last October would be a catalyst in bringing the country's Islamic finance industry forward, says a researcher.International Shari'ah Research Academy for Islamic Finance (ISRA) executive director Dr Mohd Akram Laldin said the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-14690581333780109752011-02-15T03:00:00.003+08:002011-02-15T03:05:22.940+08:00Islamic private equity on the rise, hurdles remainDemand for Islamic private equity in Gulf Arab states is on the rise among investors who value its more prudent debt approach and its flexibility in structuring deals, even though the sector faces hurdles in the form of a shortage of qualified professionals and restrictions in its investments options.
The global Islamic finance industry-widely valued at $1tn-is booming and whetting the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-39843430927736519072011-02-14T10:56:00.002+08:002011-02-14T12:27:36.037+08:00Takaful: The Cinderella of the Islamic finance industry
Takaful (Islamic mutual insurance), the Cinderella of the Islamic finance industry, received potentially a major boost with the entry at the end of January 2011 of US insurance giant AIG (American Insurance Group) into the Malaysian market through a RM100-million joint venture, AIA AFG Takaful Berhad, between its flagship Asian entity, American International Assurance Berhad (70 percent equity) Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-5158719915389395892011-02-11T10:01:00.003+08:002011-02-11T10:18:58.756+08:00Islamic finance proves viability worldwide
ISLAMABAD: The Islamic principles of finance have proved their viability worldwide as the Islamic banking and finance is growing at a rapid pace globally, Federal Minister for Finance and Economic Affairs, Abdul Hafeez Shaikh said Tuesday.
“In the wake of recent global financial crisis and debt problem of the third world countries and the Euro Zone, the Islamic banking and finance has Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-82797573304989900732010-12-25T21:45:00.002+08:002011-02-15T16:20:30.404+08:00Is Islamic finance the new challenge to Wall Street?
(Think Asian by Andew Sheng)I WAS in Kuala Lumpur in October attending the Global Islamic Finance Forum, organised by Bank Negara and the Malaysian International Islamic Finance Centre. The whole glitterati of the Islamic world was here, and coincidentally, the HSBC Asia Board also held its meeting, so it was also good time to catch up with all the Hong Kong good and great, including the Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-50065098503882528782010-12-25T20:46:00.003+08:002010-12-25T20:47:21.683+08:00Schedule of Islamic Finance Events : Jan - April 2011*Workshop Islamic Wealth Management and Financial Planning - 19 Jan 2011 (Kuala Lumpur)
*Workshop on Islamic Banking and Finance - 9 Feb 2011 (Kuala Lumpur)
*Workshop Islamic Wealth Management and Financial Planning - 16 Feb 2011 (Kuala Lumpur)
*Bengkel Perbankan dan Kewangan Islam - 9 Mac 2011 (Kuala Lumpur)
*International Conference on Islamic Wealth Management - 21-22 March 2011 (Kuala Lumpur)Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-67920581505872905022010-11-26T11:50:00.009+08:002010-12-11T21:49:28.209+08:00Workshop on Islamic Wealth Management & Financial Planning : 19 Jan 2011 - Kuala Lumpur, Malaysia
Workshop on Islamic Wealth Management and Financial Planning
Date : 19 Jan 2011
Venue : Quality Hotel City Centre, Kuala Lumpur, Malaysia
Topics:
i) Overview and issues on Islamic wealth management and financial planning
ii) Islamic wealth creation and accumulation
iii) Islamic investment : recommended Islamic investment avenues
iv) Islamic wealth protection / risk management : takaful
v) Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-23059018060452280192010-11-15T22:00:00.001+08:002010-11-15T22:01:51.245+08:00Untapped $105 Billion Endowments May Boost Shariah Funds
Managers of Islamic endowments with $105 billion in assets are seeking to diversify out of bank deposits, providing Shariah-compliant funds with the chance to capture new business, Ernst & Young LLP says.These “largely untapped” endowments, or awqaf, have as much as $40 billion of cash parked at commercial banks, Ashar Nazim, Manama-based executive director and head of Islamic financial servicesEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-17456348941445034712010-11-12T17:34:00.001+08:002010-11-12T17:36:09.476+08:00Islamic banks grow as recession impact mutedHONG KONG — Islamic banking is gaining popularity in emerging markets after helping some financial institutions avoid the worst of the economic meltdown.In its simplest form, Islamic banking requires that financial products — from mortgages to savings accounts — be structured to comply with sharia law under the Quran. Sharia law restricts rates and encourages clear terms, which means that under Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-8189067134211550012010-11-12T12:04:00.001+08:002010-11-12T17:36:46.923+08:00All eyes on Islamic financeKUALA LUMPUR: Islamic financing is gaining popularity in many non-Muslim countries such as Britain, Australia, New Zealand, South Korea and Singapore in recent years, Gatehouse Bank PLC chief executive officer Richard Thomas said.“We are seeing greater interest in Islamic financing, especially by corporations in non-Muslim countries,” he said at the World Congress of Accountants yesterday.Thomas Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-260432629070015262010-11-10T17:28:00.001+08:002010-11-10T17:30:19.672+08:00Inner Dimension of Zakat - Excerpts from Ghazali's Inner Dimension of Islamic Worship
Certain inward attitudes and duties are incumbent on those who seek, through the payment of Zakat, that which leads to good in the Hereafter:1. Knowing Zakat's purpose and significanceTo understand the necessity of paying Zakat, how it represents a test of character, and why it has been made one of the fundamentals of Islam, even though it is a financial transaction and not a physical act of Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-47350514215488371772010-11-10T08:08:00.001+08:002010-11-10T08:09:45.340+08:00Shariah funds do well in mildly bearish times
Shariah-compliant mutual funds are probably not the best performers in a bullish market of current times, where the rally is primarily driven by banking stocks. But in a slightly bearish market these funds give decent returns.In India, this type of funds is yet to become popular among the masses. As a result, currently, the number of this kind of mutual funds is just a handful.But we may see Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-86849006823918719672010-11-09T18:13:00.001+08:002010-11-09T18:16:41.302+08:00Sukuk suitable tool for governments to finance projects says KFH's CEO
Kuwait Finance House (KFH) CEO Mohammed Al-Omar stated that that the Fatwa and Shariah Supervisory Authority has embodied the moral and social responsibility towards the society as a unit that operates in harmony to protect the client by ensuring that all banking transactions are Shariah compliant. The authority has played a pivotal role in developing numerous products that caused a paradigm Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-74693209520704000212010-11-09T12:15:00.001+08:002010-11-09T12:17:05.704+08:00Islamic Investment in Malaysia : Explore Great Investment Opportunity in Islamic Unit Trusts (Mutual Funds)
Explore great opportunity in Islamic unit trusts (mutual funds)...Syariah-compliant and relatively safe investment with proven excellent returns.
http://islamic-invest-malaysia.blogspot.comEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-83314628108091353322010-11-05T18:22:00.002+08:002010-11-05T22:03:14.969+08:00Islamic banking industry shows rich potential in GCC
DUBAI — The Islamic banking industry in the GCC is expected, in general, to remain strong moving forward, growing by 15 to 20 percent year-on-year in 2010, according to a banking and finance expert.
Muhammad Said Abdul Wahab said that the existence of financial centres in Bahrain, Qatar and the UAE, as well as a number of Islamic finance organisations such as the Accounting and Auditing Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-36699089627721392202010-11-05T12:15:00.001+08:002010-11-05T12:17:01.297+08:00Seminar on Islamic Wealth Management and Investment (iWMi) : 11-12 January 2011 in Kuala LumpurSeminar on Islamic Wealth Management and Investment (iWMi) : 11-12 January 2011 in Kuala Lumpur : The event linkEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-47480139038982322692010-11-05T09:43:00.001+08:002010-11-05T22:01:14.699+08:00Malaysia - gateway to Islamic finance
KUALA LUMPUR - Over the past decade or so, Malaysia has quietly become the leading international player in Islamic finance and its gateway. The government of Malaysia, through its two principal agencies, Bank Negara (the central bank) and the Security Commission, has actively promoted Islamic finance. More specifically, Islamic finance has been given formal prominence in the Financial Sector Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-89039412994258745512010-10-18T12:03:00.000+08:002010-10-18T12:03:02.439+08:00Invest in Halal and Profitable Unit Trust Funds in Malaysia - Syariah-compliant funds with proven track records
Invest in Halal and Profitable Unit Trust Funds - Syariah-compliant with proven track records.
Islamic Unit Trust Funds managed by CWA (CIMB Wealth Advisors) are proven to provide excellent returns over the years.
The following is the actual performance of CWA Syariah Funds (equity funds) - YTD ended Sep '09:
[Fund Name] (fund code) - (% p.a)
CIMB Islamic Asia Pacific Equity (fund code: 45) - Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-12443836951886142252010-09-10T16:05:00.003+08:002010-11-09T17:11:40.071+08:00Malaysia Rules in Islamic Finance : Kuala Lumpur dominates the market for Islamic bonds, called sukuk
Bonds, home mortgages, and other financial assets that comply with Islamic law, which prohibits the charging or paying of interest, have gained in popularity throughout the Muslim world. A lot of high-paying jobs and national prestige are up for grabs for the country that can position itself as the hub of global Islamic finance. Persian Gulf states such as Saudi Arabia, the United Arab Emirates,Editornoreply@blogger.com1tag:blogger.com,1999:blog-705258222620382211.post-77783671564613552202010-09-05T07:47:00.000+08:002010-09-05T07:47:40.649+08:00ISLAMIC Unit Trust Investment MALAYSIA (The Syariah-Compliant Mutual Fund)Blog on ISLAMIC Unit Trust Investment MALAYSIA (The Syariah-Compliant Mutual Fund).Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-2767732276913795232010-08-09T21:03:00.006+08:002010-08-10T05:58:02.362+08:00Malaysia : New sukuk issue to refinance DUKE debtThe sukuk issuance is needed as there's a mismatch between the asset and the company's financing requirements, says a source
The owner of the Duta-Ulu Kelang Expressway (DUKE) plans to restructure its RM780 million debt to rectify its funding-concession mismatch, and has approached Danajamin Nasional Bhd to ensure the success of its new Islamic bond.
"There is a need for a new sukuk issuance asEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-49971117741915230792010-08-09T09:26:00.001+08:002010-08-09T09:27:28.655+08:00Maldives issues first Islamic bank license
MALE, August 4, 2010 (HNS) - Maldives Monetary Authority (MMA) Tuesday issued license to Maldives Islamic Bank Private Limited (MIB) to set up the country’s first Islamic bank.
According to the authority’s website, “MMA issued a banking licence to the ‘Maldives Islamic Bank Pvt. Ltd.’ to conduct Islamic banking business in the Maldives, with effect from 2nd August 2010.”
An MMA official Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-22288326896805673222010-08-09T09:01:00.001+08:002010-08-09T09:07:55.239+08:00Islamic banks advised to capitalise on inherent strengthsKARACHI: Acting Governor State Bank of Pakistan, Yaseen Anwar, said Islamic financial system has potential to provide better banking and financial services than the conventional system.
However, he added, the Islamic system would have to capitalise on its own inherent strengths and avoid following the conventional system, he said while addressing the inaugural session of Islamic Financial News Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-63773987208327959992010-08-08T13:09:00.000+08:002010-08-08T13:09:53.260+08:00Islamic banking, finance and financial planning consultant and speakerIslamic banking, finance and financial planning consultant and speaker (based in Kuala Lumpur, Malaysia).
please visit this link;
http://ahmad-sanusi-husain.blogspot.com/2010/08/islamic-finance-and-financial-planning.htmlEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-38611176999850161402010-08-03T22:42:00.000+08:002010-08-03T22:42:14.477+08:00Get trained online by Ethica Institute of Islamic Finance - Dubai.Get trained online by Ethica Institute of Islamic Finance - Dubai.
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Visit > http://www.ethicainstitute.com/Certification.aspxEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-67623904248150156352010-08-01T08:23:00.004+08:002010-08-03T22:46:51.550+08:00Cagamas Sukuk: `Big Step' for Malaysian Middle East Sales
Duet Mena Ltd. and Algebra Capital Ltd., Dubai-based managers of $500 million, said they may buy Islamic bonds from Malaysia’s Cagamas Bhd., the first under a new structure that complies with the Persian Gulf’s requirements.Cagamas, the nation’s biggest mortgage holder, plans to seek funds in the oil-rich region by offering 5 billion ringgit ($1.5 billion) of notes that meet the guidelines of Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-71791578170955141532010-07-24T16:16:00.004+08:002010-11-09T17:16:21.463+08:00HSBC Takes Top Spot From CIMB in Sukuk SalesJune 30 (Bloomberg) -- HSBC Holdings Plc is overtaking CIMB Group Holdings Bhd. as the top underwriter of Islamic bonds as sales from the Gulf pick up and corporate issuance from Malaysia, the biggest market for the debt, declines.HSBC, Europe’s biggest lender by market value, arranged $1.6 billion of global sukuk so far in 2010, about 25 percent of the total, led by Saudi Electricity Co.’s Editornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-87337468073437757212010-07-24T10:07:00.002+08:002010-08-03T22:49:25.530+08:00U.A.E. Plans Shariah Money Markets After LawJune 29 (Bloomberg) -- The United Arab Emirates, the second-largest Gulf economy, may follow Malaysia, Bahrain and Indonesia in selling Islamic securities with maturities of less than 12 months as legislators consider establishing a local debt market, according to Royal Capital PJSC.Islamic bills would give Shariah-compliant banks more investment options, said Ahmed Talhaoui, Abu Dhabi-based headEditornoreply@blogger.com0tag:blogger.com,1999:blog-705258222620382211.post-78215766292349092102010-07-03T10:04:00.001+08:002010-07-24T18:58:35.583+08:00Takaful penetration low in Pakistan
KARACHI: Takaful, an Islamic alternate to conventional insurance, has very little penetration in Pakistan, but like conventional insurance, it has immense potential as it not only shares risk but also offers fair returns, said CEO of Pak-Qatar General Takaful, Rohail Alikhan.He was talking to the members of the banking and insurance sub-committee of the Karachi Chamber of Commerce and Industry (Editornoreply@blogger.com1tag:blogger.com,1999:blog-705258222620382211.post-71192902336801110622010-06-22T10:46:00.000+08:002010-06-22T10:46:17.761+08:00Pakistan Developing Shariah-Compliant Products for Money Market
June 16 (Bloomberg) -- Pakistan’s central bank is developing Shariah-compliant products for its interbank money market as a shortage of investment options hurts earnings at Islamic lenders.The products “will provide some flexible and convenient mechanism for managing the surplus liquidity in the Islamic banking industry,” according to a statement by the State Bank of Pakistan released late Editornoreply@blogger.com0