IslamicFinance.de: news, insights and support. Check About Us for discussion groups and contact.

Noor Takaful Launches Individual Family Insurance Suite of Products

Noor Takaful, the Islamic Insurance provider, today launched its suite of Individual Family products with flexible protection, investment, and savings takaful plans to cater to the national and expatriate residents of the UAE. The introduction of the new products coincides with the first anniversary of the company’s inauguration and demonstrates its commitment to innovatively meeting the unique needs of the UAE market.

Dubai Bank signs MoU with Community Development Authority

Dubai Bank announced today the signing of a Memorandum of Understanding (MoU) with the Community Development Authority (CDA). The MoU marks a significant step forward in the bank's Corporate Social Responsibility (CSR) programme, and is in line with its commitment to support educational causes through its CSR activities.

Amlak Finance to Pay $33 Million Coupon on January 18 for 2010 Sukuk

Dubai-based mortgage lender Amlak Finance will make its semi-annual coupon payment for its 2010 Sukuk on January 18.

Nakheel Development 2 Limited - Periodic Distribution - USD 750 Million Sukuk Trust Certificates due 2011

This is to advise that a periodic distribution is due on 19th of January 2010. The total funds due will amount to USD 10,312,500.00 for Periodic Distribution to Certificate Holders.

Dubai World set to make formal standstill request

Dubai World is expected to soon make a formal standstill request to creditors for $22billion in debt while it devises a restructuring plan. Dubai sent shockwaves through global markets on November 25 when it said it would request a standstill on billions of dollars in debt linked to Dubai World and its property units Limitless World and Nakheel, developer of palm-shaped islands. Following are some answers to frequently asked questions about the upcoming standstill agreement:

Saudi Al Jazira Bank Q4 loss up, ANB profit falls

Saudi's Al Jazira Bank widened its losses for the fourth quarter by 189 percent while smaller rival Arab National Bank saw net profit falling 31.8 percent, the lenders said.

Malaysia Is World's Top Sukuk Listing Destination - Bursa Malaysia Attracted USD 17.6 Billion In Sukuk Listings In 2009

Bursa Malaysia topped the world’s exchanges in terms of value of sukuk programme listings in 2009, recording a total of USD17.6 billion. Since its inaugural sukuk listing in August 2009, the Exchange listed 12 sukuk by end of December 2009 which contributed towards this development.

Barclays analysts give views on Nakheel Sukuk

The comments from Barclays came in a report which recommended that investors sell their Nakheel Sukuk. How much money banks and investors are likely to obtain from Nakheel is under some dispute since the Dubai World conglomerate which Nakheel is a part of announced last December that it would be seeking to restructure its debt.

Barclays Capital calls to offload Nakheel sukuk

Nakheel bondholders will recover less than half of their investments as the property developer's parent company renegotiates US$22 billion (Dh80.80billion) of debt, Barclays Capital analysts estimate.

ADIH starts work on $400m Indian project

Abu Dhabi Investment House (ADIH) has begun enabling works and site facilities for its $400 million India Entertainment City (IEC) development in Navi Mumbai.

Wade urges Islamic banks to fight poverty

Bank - The Senegalese president, Abdoulaye Wade, on Monday in Dakar urged Islamic banks to help fight poverty in Islamic or predominantly Muslim countries.

Aston Business School launches first Islamic finance centre in Europe

Aston Business School in Birmingham, UK launched an Islamic Finance and Business Centre – the first of its kind in Europe.

NINTH HARVARD UNIVERSITY FORUM ON ISLAMIC FINANCE

Ninth Harvard University Forum on Islamic Finance, Building Bridges Across Financial Communities,

March 27-28, 2010, Harvard Law School, Cambridge, MA., USA

The Ninth Harvard University Forum on Islamic Finance, hosted by Harvard Law School’s Islamic Finance Project, will be held at Austin Hall, Harvard Law School in Cambridge, Massachusetts on March 27th- 28th, 2010. The theme of the conference will be “Building Bridges across Financial Communities” as it relates to the field of Islamic Finance.

Gassner's picture

Calling Islamic financial institutions to become member of the United Nations Finance Initiative

IslamicFinance.de is calling Islamic financial institutions to become member of the UNEP Finance Inititiave to learn and contribute to international best practice in ethical and faith based finance:

"UNEP FI is a global partnership between UNEP and the financial sector. Over 180 institutions, including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance."

membership information package:
http://www.unepfi.org/fileadmin/forms/MembershipInformationPack.pdf

Bahrain-Based Gulf Finance House Lowered To 'B+' And Placed On CreditWatch Negative

Press Release

• The improvement in the liquidity position of Bahrain-based Islamic wholesale investment bank Gulf Finance House proved to be more limited, in our view, than we had previously expected.
• We consider the recent unexpected departure of the CEO and the end to talks about a joint venture with Macquarie to be additional challenges to revenue generation.
• We are lowering our long-term rating on GFH to 'B+' from 'BB+' and placing it on CreditWatch with negative implications.
• The negative implications reflect the uncertainties we see about the execution of GFH's measures to improve funding and liquidity.

PARIS (Standard & Poor's) Jan. 14, 2010--Standard & Poor's Ratings Services lowered its long-term counterparty credit rating on Bahrain-based Gulf Finance House G.S.C. (GFH) to 'B+' from 'BB+' and affirmed its 'B' short-term rating. In addition, we placed both the long- and short-term ratings on CreditWatch with negative implications.

SFS Cyprus, Kuwait Finance House launch $150million shipping investment fund

Sharelink Financial Services Group (SFS) and Kuwait Finance House Asset Management Sdn Bhd (KFHAM) have launched a shipping venture that aims to raise 150 million dollars of investment for modern vessels.

Ingress seeks extension for sukuk

Ingress Sukuk Bhd (ISB) has issued a notice to the holders of the sukuk convening a meeting of sukukholders on Jan 6, 2010 to consider an extraordinary resolution to extend the maturity date of the first tranche of the sukuk due on Jan 9, 2010 to July 9, 2010 to enable the company to finalise the restructuring plan for the sukuk.

Abu Dhabi Islamic Bank inks Emcredit deal

Abu Dhabi Islamic Bank (ADIB) and Emcredit, the UAE's government-backed credit bureau, have signed an agreement to provide credit information services in supporting the bank's financing activities.

Dubai Islamic Bank says no deposit withdrawals -TV

Dubai Islamic Bank DISB.DU has not witnessed any significant withdrawals by despositors after news of Dubai World restructuring shook global markets, the lender's financial chief said on Tuesday.

Faisal Private Bank appoints new CEO

Geneva-based Faisal Private Bank announced it had appointed Swiss national Mark Koch to replace outgoing Chief Executive Marco Rochat from Jan. 1 with a mandate to broaden the Islamic finance focus of the bank.

Syndicate content