IslamicFinance.de

It appears that the debut sukuk of Senegal in 2011 will be around $200 million.
Although the madate has been signed, the time is unknown yet.

Noor Islamic Bank doesn't plan to extend for now.
The deal size on the two issues owned by Noor Islamic Bank, one in the Gulf region and another one in Turkey, is between $250 million to $300 million.

The CEOs of Bahrain's major foreign banks are supporting the Kingdom's economic development. They stated that they will work with their peers to raise growth.
This statement was brought up when the CEOs met with Economic Development Board CEO Shaikh Mohammed bin Isa Al Khalifa at a roundtable discussion organized by the Bahrain Association of Banks (BAB). The aim of the meeting entitled "outlook of the foreign banks in Bahrain" was to help the industry in disseminating the message to the public as well to the government about the current situation.

Dubai Group is one step away from signing a restructuring deal with lenders.
Hussain Al Qemzi, the chief executive officer of Noor Islamic, one of the creditor banks, stated that an agreement could be signed in the second quarter of 2011.
A bank committee for debt restructuring at Dubai Group was established since last year. Noor Islamic Bank has two Islamic bond mandates, one each in the Gulf region and Turkey. The deal on both issues would be between $250 million to $300 million.

After completing its share-subscription exercise that gives the group a 20% stake in bank, it seems that Bank Islam Malaysia Bhd is now the single largest shareholder in Sri Lanka.
Based on the statement of managing director Datuk Seri Zukri Samat the total cost investment for the 20% stake in Amana Bank is RM22.6mil.

Abu Dhabi Islamic Bank anticipates to post single-digit credit growth in 2011 and that's why it will continue to book provisions going forward.
The impact of new central bank rules that will limit loans to individuals and service charges is beeing studied by ADIB. The central bank has capped personal loans at 20 times the salary or the monthly income of a borrower with a repayment period set at 48 months.
ADIB had a profit of Dh250.6m ($68.23m) in the three months to December 31.

Gatehouse Bank plc will join Paul Napier Ltd in order to form Gatehouse Napier. This wil be the world's first Shariah compliant insurance broker which offers premium Takaful and Re-Takaful commercial risk solutions in London.
It appears that GCC investors have invested more than £3bn on UK commercial property in the post financial crisis.

Watania, the National Takaful Company, plans to launch next monday its initial public offering (IPO). The aim is to raise Dh82.5 million, that means 55 % of the share capital.
Anastasios Dalgiannakis, head of trading at Mubasher Financial Services, pointed out that IPOs of attractive assets are generally positive and helpful for the markets as they bring interesting investment opportunities.

Malaysia's Bank Islam has a plan to acquire a stake in Indonesian lender PT Bank Muamalat.
Some sources say that Bank Islam decided against a bid as it was deemed too expensive.

Prime Minister Datuk Seri Najib Tun Razak exposed what CMP2 means: changes to the regulatory framework for fundraising and product regulation to slash unnecessary red tape and lead to faster turnaround of approvals. The purpose is to open the potential of the market.
At the "Invest Malaysia 2011" conference, Najib stated that there is a plan to increase the number of Proprietary Day Traders by almost threefold to enable more dealer representatives to become specialised traders.
Present at the conference were: Tun Mohamed Dzaiddin Haji Abdullah, chairman of Bursa Malaysia, Tnn Sri Dr Zeti Akhtar Aziz, Bank Negara Malaysia Governor, Tan Sri Zarinah Anwar, chairman of Securities Commission, Tan Sri Megat Zaharuddin Megat Mohd Nor, chairman of Maybank Goup, Datuk Tajuddin Atan, the new chief executive officer of Bursa Malaysia and Datuk Seri Abdul Wahid Omar, the chief executive officer of Maybank Group.

A report of the National shows that GDP forecasts for the UAE, Saudi Arabia, Kuwait and Qatar in its World Economic Outlook was raised by the International Monetary Fund.

The Central bank of Indonesia estimates that the nation’s Islamic assets will improve by 55% this year.
That's why Albaraka Banking Group and Qatar Islamic Bank have a goal: to produce Shariah-compliant financers in Indonesia.
Chief executive Adnan Ahmed Yousif pointed out that Albaraka is ready to spend $100 million on an acquisition.
Indonesia has 11 full-fledged Islamic lenders and 23 other banks that offer Islamic services. The government want to begin selling short-term Islamic treasury bills for the first time in the second half of the year.

HSBC Amanah Shariah wants to allocate USD 2.12 million through PT Permodalan Nasional Madani (PNM) for the development of micro-, small and medium-sized enterprises (MSMEs).
The funds from HSBC to MSMEs will be chanelled through its Shariah-based microfinance branches.

Dubai’s Department of Finance has developted a plan to raise $800 million. It wants to monetize road toll receipts. The aim is to fund infrastructure projects.
A six-year financing could support the Roads and Transport Authority’s infrastructure projects.
Th main arrangers and book-runners for the financing are: Citibank, Commerical Bank of Dubai, Emirates NBD and Dubai Islamic Bank.

First Bahrain announced that it still captivates overseas companies to set up business in Bahrain. Switz Group chose Majaal warehousing and logistics complex for its location to serve the expansion of their subsidiary brand, named Bahrain Masterbaker WLL.
They will import products such as the ever-popular cup cakes, pastries and samosa leaves from their Saudi Masterbaker operation in Saudi Arabia.
Another subsidiary, named Masterbaker Trading WLL, is also being setup in the same facility but it will import bakery ingredients from Europe and USA.

A law that helps moneylaundrers has been approved, after councillors Rabab Al Arrayedh and Dalal Al Zayed expressed their oppinion that argued the fact that people against which noone has substancial evidence could be convicted.
In conclusion, only suspects that are clearly tied to a case can prosecuted.

Altough Bahrain Financial Exchange (BFX) has delayed its pregrammed launch because of the political unrest, the firm plans to begin tradings in two weeks.
BFX offers trading in both conventional and Islamic products in equities, derivatives, commodities and currencies.
Arshad Khan, managing director and chief executive of BFX, assures that the company will stay in Bahrain inspite of the political situation.

Malaysian Prime Minister Najib Razak states that the passing of the law to give tax advantages to Korean companies issuing Islamic sukuk bonds doesn't make it easier for terorists to take money away.

The newly-launched Takaful mySME plan is expected to bring an income of RM10 million over the next 12 months. Group Managing Director Datuk Mohamed Hassan Kamil announced that the targets in the beginning are small-and-medium enterprise (SME) sectors of light manufacturing, food and beverages, retail, offices and services.
Takaful Malaysia also singned a Memorandum of Understanding with SME Corp Malaysia that has the purpose to jointly educate and create awareness among SME entrepreneurs on the importance of solid risk management processes.

The purpose of AmIslamic Bank Bhd is to ride on the growth of energy-themed commodities. Meanwhile the bank also wants to protect investors from the big unpredictability of the market with its latest offering,
AmEnergy Islamic Negotiable Instruments of Deposit (NID-i).
This product follows the conduct of oil, soyabean (biodiesel) and sugar (ethanol) and it is programed for two years.
But because the oil supplies are limited, so the merket is vulnerable, worldwide governments and corporations are looking out for alternative energy sources such as biofuels.