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Barwa Bank announced the distribution, by mail, of share certificates. This represents the final step in the completion of the acquisition of The First Investor, First Finance Company and First Leasing Company by Barwa Bank.
Barwa Bank shareholders can update their data through one of the following channels:
By e-mail : send the template and required attachments to Investor and Shareholder Relations Department's email, investors@barwabank.com
By post : send the template and required attachments by mail to: Investor and Shareholder Relations Department at Barwa Bank, P.O.Box 27778, Doha, Qatar.
By fax : send the template and required attachments by fax to 44488676.

Albaraka Banking Group reduced the size of a March sukuk programme to $250 million (Dh918 million)-$300 million from the planned $500 million.
The bank also plans to issue a $100 million sukuk in Egypt at the end of the year.

Ahmed Meshari, acting CEO of Qatar Islamic Bank (QIB) has said the lender is interested in buying the Islamic banking assets of conventional lenders in the Gulf country, who have been instructed by the central bank to close down their Islamic operations.

Amanah Islamic Investment Bank of the Philippines has announced the designation of Enrique D. Bautista, Jr. as its new Chairman and Chief Executive Officer. He is replacing Armando O. Samia who has rejoined the marketing group of state-owned Development Bank of the Philippines (DBP).
Joining Bautista in the board of Amanah Islamic Bank are Jose A. Nuñez, Jr. as vice chairman, and Francisco F. Del Rosario, Jr., Jose Luis Vera, Armando Samia, Samira Gutoc, Nabil Tan, Ibrahim Mamao, and Abdul Hadjisalam as directors.

The Maldivian subsidiary of Sri Lanka's Amana Takaful Insuracne Plc, Amana Takaful (Maldives) Private Limited has applied to be listed in the Maldives Stock Exchange (MSE).
Recently a subsidiary company of Amana Group, Amana Bank Limited obtained the license from the Sri Lanka's Central Bank and the Finance Ministry to conduct commercial banking in the country.
The Maldives Stock Exchange first established on 14th April 2002 was operated by the Capital Market Development Authority (CMDA) as part of the regulator.

Qatar International Islamic Bank plans to issue a benchmark-sized Islamic bond, or sukuk, by mid year to bolster its loan book ahead of an expected uptick in lending.
No banks have been mandated yet on the deal, which is in the early stages.
QIIB plans to raise cash because it expects an increase in lending on infrastructure projects.

Qatar's Doha Bank (DOBK.QA) does not expect a major financial impact from the central bank's decision to separate the Islamic operations of conventional lenders in the Gulf Arab state.
Doha Bank will continue to meet its contractual obligations within its Islamic business and will seek clarification from the central bank when required.
The central bank issued a circular to banks, saying it "has been decided to terminate the activities of the Islamic finance services" offered by conventional banks.
Other Banks effected by the directive include international lender HSBC (HSBA.L), Qatar National Bank (QNBK.QA), Commercial Bank of Qatar (COMB.QA), Al Ahli Commercial Bank AABQ.QA and International Bank of Qatar.

Afghanistan's central bank expects an Islamic banking law to be enacted by September, drawing billions in deposits from citizens wary of the conventional banking system.
The central bank's sharia board will meet Sunday to finalize the law.
Of 17 banks in Afghanistan, six have Islamic banking windows. The central bank hopes to approve the creation of fully fledged Islamic banks after the law is passed.

Dubai Bank announced today the launch of its new 'Prestige' banking concept, comprising a bouquet of services specifically designed for affluent customers who are looking for exceptional value, convenience and consistent high-quality service delivery across all banking channels.
'Prestige' offers a unique bundle of services designed for individuals who transfer their monthly salaries of more than AED 20,000 to Dubai bank.

Dubai Group has set up two bank committees to speed up the process of restructuring.
A source close to the restructuring talks told Gulf News that the two committees are working closely with Dubai Group to reschedule the loans.

Qatar Central Bank has ordered conventional lenders operating in the gas-rich Gulf Arab state to shut down Islamic finance activities by the end of 2011, in a move that could curb an important source of income for many banks.
From the move will benefit players such as Masraf Al Rayan and Qatar Islamic Bank, whose shares rose 10% and 8.4% respectively.

Viva Bahrain has signed a $280 million Shariah compliant financing facility with two of the region’s key financial institutions, HSBC and Saudi-based Samba.
The facility is seen as a highly sought after opportunity to establish long term business partnership with Saudi Telecom Company's wholly-owned subsidiary brand named Viva in Bahrain.

Bahrain's Unicorn Investment Bank has dropped plans to buy Dubai Group's 40 percent stake in Malaysia's Bank Islam.
Dubai Group said in October 2009 it was reviewing options for the stake in Malaysia's second-largest Islamic bank as it shifts its focus closer to home.

The downgrade of the BFSR and issuer ratings of Bahrain Islamic Bank reflects
- the difficult market conditions in which Bahraini banks continue to operate;
- the bank's deteriorated asset quality and heightened provisioning needs;
- Bahrain Islamic Bank's weak financial performance stemming from the cost of concentration risks materialising in heavy losses for two consecutive years;
- uncertainties over the bank's ultimate shareholding structure.

First Finance Company Q.S.C. (First Finance) carries out its financing activities through various Islamic modes of financing including Murabaha, Mudaraba, Musharaka, Musawama, and Istisna. It provides finance for numerous products including cars and vehicles, real estate, construction and building materials, heavy machinery, marine equipment, furniture, education, weddings, jewelry, travel tickets, Istisna, corporate finance, and medical services. The company is headquartered in Doha, Qatar.

Qatar Charity is spearheading a campaign to collect funds to be donated to relief initiatives benefiting flood victims from Australia, Pakistan, Sri Lanka and Thailand.
The “Fight the Floods” campaign was launched offering the people in Qatar the opportunity to directly deposit to the authorised Qatar Charity "Fight the Floods" bank account: A/C Number: 100024470 at Qatar Islamic Bank.

Sharjah Islamic Bank has signed a Memorandum of Understanding (MoU) with the Corporate Leasing Company Egypt (CORPLEASE), to establish a joint venture 'CORPLEASE UAE', a UAE-based company that will provide a plethora of lease facilities.
The ceremony was attended by Mohammed Abdullah, CEO of Sharjah Islamic Bank and Tarek Azmy, Managing Director of CORPLEASE, who signed the MoU on behalf of their respective organisations.

The Gulf Bond and Sukuk Association (GBSA), the trade association representing the Arabian Gulf fixed income market, is pleased to announce that it has filled a series of key committee positions for 2011. GBSA works through its topical sub-committees to promote a deep and transparent market for securities issued from the region.
Through its targeted sub committees, GBSA will discuss the issues that are likely to affect the future of the industry and create industry positions that will influence the direction and growth of the debt capital market in the Gulf region.

Appeal No. 146 of 2010 by Parsoli Corporation Ltd dismissed on Jan. 12 by the Securities Appellate Tribunal (SAT) of the Securities and Exchange Board of India (SEBI). The Appeal was against a ruling by SEBI that Parsoli and its promoters/directors violated several provisions of the regulations and perpetrated “fraud of the worst kind on the shareholders of this company who were deprived of their shares and when caught, the directors compensated the shareholders by crediting shares in their demat accounts through off market transactions.”

Islamic finance is growing rapidly. Statistics show that global Islamic banking assets have grown approximately 10% per annum from the mid 1990s.
The growth of Islamic Financial Services has been driven by a growing Islamic population that is enjoying a rapid rise in purchasing power, due to better education and employment opportunities. This has been supported by financial engineering and innovation in the provision of Islamic financial products and services.
Moreover, Dubai Exports held a seminar to highlight Islamic Financial Opportunities in Germany and France which are two of the main economies within the Eurozone. The seminar was aimed at the very senior management within the Islamic financial services sector.