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OIC secretary general calls for concerted multilateral actions for knowledged based economies in Muslim countries

The Secretary-General of OIC, Professor Ekmeleddin Ihsanoglu has underscored the need for both inter-OIC cooperation and international partnership to enhance the popularization of knowledge-based economies in OIC countries.

World Bank for Islamic finance standardisation

The World Bank plans to support standard-setting bodies of the Islamic finance industry in turning their voluntary standards into binding banking regulations.

Tamkeen invests in Islamic banking professionals for the future

Bahrain's emergence as an Islamic banking hub has spurred Tamkeen to put in place an ambitious plan to train 130 Bahraini graduates in Islamic finance and business accounting.

Islamic and Conventional Banks in the GCC: How Did They Fare?

Excerpt from the IMF report
"Which group of banks is better-positioned to withstand adverse shocks?
With larger capital and liquidity buffers, Islamic banks are better-positioned to withstand adverse market or
credit shocks. On average, Islamic banks’ capital adequacy ratio (CAR) in the GCC is higher than that for
conventional banks (except in the United Arab Emirates). The risk-sharing aspect of Shariah-compliant
contracts adds to this buffer as banks are able to pass on losses to investors."

page 10, 11

Full Text for free download.

Islamic Finance in North America

Yasaar media published a new report called Islamic Finance in North America 2009 for free download, which is co-published by Codexa Capital, UM Financial Group, King & Spalding, and Doha Islamic.

According to the report Islamic finance in North America has developed along two quite separate paths:

  • The first path focuses on retail Islamic finance and centres mostly on home financing products and credit cards.
  • The second path involves a number of high profile GCC-based Islamic investment banks and their deployment of hundreds of millions of dollars in private equity and real estate developments in North America.

Read the full report for free at the link below.

New consultancy founded "Quantis"

Quantis was founded recently to provide expertise in responsible Islamic finance combined with quantitative methods by Marwan Muhammad and others.

http://www.quantislam.com

Malta attracts investments from Dubai

Investors from Dubai are negotiating with government officials of Malta on a number of assets and projects in the Mediterranean island state. Dubai has already become a leading investor in Malta's economy with investments totalling near USD 1 bn over the last few years including the USD 300 mn SmartCity project, Euro 500 mn in International Hotel Investments (IHI) Group which owns Corinthia Hotels, as well as Tecom Investments' acquisition of a stake in Maltese telecom operator Go, with many more to come.

Follow IslamicFinance.de with Twitter

IslamicFinance.de installed on 18 April a new service to keep you updated with Islamic finance news by sending its content to a Twitter account allowing to follow news even by mobile phone, Wikipedia the online encyclopedia explains Twitter as follows:

"Twitter is a free social networking and micro-blogging service that enables its users to send and read other users' updates known as tweets. Tweets are text-based posts of up to 140 characters in length which are displayed on the user's profile page and delivered to other users who have subscribed to them (known as followers). [...] Users can send and receive tweets via the Twitter website, Short Message Service (SMS) or external applications. The service is free to use over the Internet, but using SMS may incur phone service provider fees." Source http://en.wikipedia.org/wiki/Twitter

Please feel free to use just another free service related to IslamicFinance.de by following the news via Twitter:

Go to: http://twitter.com/IslamFinance

AAOIFI to certify more IT vendors

New Horizon reported that other IT vendors now think about certification by the Accounting and Auditing Organisation of Islamic Financial Institutions (AAOIFI) and following the example of Path Solutions.

Saudi Credit Bureau (SIMAH) and Standard & Poor's launched National Data Pooling Project (NDPP)

Joint Press Release

Riyadh ? London, February 2 2009

Saudi Credit Bureau (SIMAH) and Standard & Poor's, the leading provider of financial market intelligence, independent ratings, indices, investment research and data across the Middle East?s credit risks launched today the National Data Pooling Project (NDPP) and signed a contract in Riyadh. SIMAH was represented by its General Manager Mr. Nabil Abdullah Al-Mubarak, Standard & Poor?s by Mr. David Pearce, Managing Director of McGraw-Hill International (UK) Ltd and Mr. Bernard O?Sullivan, Managing Director and Head of Standard & Poor?s Risk Solutions in Europe, Middle East & Africa.

In this context, Nabil Al-Mubarak stated that the project comes as the final step in the framework of specialized projects for measuring credit risks, which would enable all participating member banks to fulfill all requirements of Basel II capital adequacy issued in 2005, referring to the fact that the Kingdom has already been implementing Basel II Capital Standards since 2006, and welcoming at the same time the strategic relationship with Standard & Poor's.

Academic Research Papers

Dear Members,

Please share your opinion about the following proposal in regard to

- Academic Research Papers

This forum could facilitate to publish your research papers and having them rated by peers afterwards. This would speed up the time from production to publishing tremendously compared to traditional journals.

It also gives a chance to see unusual papers published, however, a good number of submissions might be of lower quality at the same time.

The action question: Is there interest in the community to use such a platform in this way???

Please comment!!!

How to improve the portal

Please share in this forum, how to improve the portal for the members further. Especially appreciated are ideas what you could provide and contribute.
On each idea others users can comment or just give a vote, how important it is to them.

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