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To work with Head of Islamic Product Management to manage new Islamic Wholesale produt roll-outs according to the time-line and business requirement. The job-holder will also contribute towards growing the overall Islamic business by assisting the unit head to formulate product strategies and guide the Relationship Managers and other key stake-holders to develop their Islamic product awareness. This is a specialist position which requires the candidate to have a strong applied knowledge of Islamic product structuring and management.

Responsible for Islamic treasury products and has in-depth understanding of liquidity management, bank funding strategy and the money markets. Able to demonstrate strong understanding of funding strategy and can translate into a tactical issuance plan.

The role is responsible to develop a mechanism/framework to measure and monitor the development impact of various projects undertaken by ICD and reporting the evaluation assessment reports to the business units, senior management, and the Board of Directors.

This role is responsible for managing a business focus area for the ASAM Department which includes developing strategy, sourcing business, managing transactions/projects, managing transaction/project budget and finances, and maintaining client relationships.

The role is responsible for assisting project managers in financial analysis and modeling, drafting project deliverable, preparing client presentations / reports and general support in all aspects of transaction. Additionally assisting in developing pitch-books and concept notes in coordination with the project lead.

ABOUT YPP:

The Young Professionals Program (YPP) is the strategic talent pipeline for the professional career in the Islamic Development Bank (IDB) Group. The Program is designed for outstanding young graduates who can significantly help the IDB Group to carry out its mission and attain its objectives.

This Program enables each Young Professional (YP) to receive extensive exposure and experience of the IDB Group’s various activities through job rotations in different departments. Participants will initially spend two weeks Orientation stage in HRMD. Then, 27 months in Foundation stage which will be split into three rotations of 9 months each in IDB Group departments.

Participants will also benefit from a coaching/mentoring arrangement and a wide range of relevant training and developmental opportunities.

Upon successful program completion, the participant will gradually climb up the professional grades in the IDB Group

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An Islamic Investment Bank based in the DIFC, Dubai is seeking to hire a Head of Institutional Sales to promote, market and sell the bank's products and services to institutional clients across the GCC.

The Treasury & Investment Manager is involved in managing treasury activities and in reviewing real estate developments. The role reports into the Chief Financial Officer. There is currently one subordinate, the Assistant Investment Manager, with a mandate to further grow the team as required.

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The headquarters of the General Secretariat of the Organisation of Islamic Cooperation in Jeddah hosts, on 10–11 June 2013, a workshop entitled: "Humanitarian Action in Today’s World: reality and challenges in the context of Islamic jurisprudence and international humanitarian law". This workshop is attended by scholars and experts of Islamic jurisprudence and international humanitarian law, all together more than 20 organisations and 80 participants. It covers topics relating to the rights of victims of armed conflicts and the protection of humanitarian workers. It also features specific presentations on experiences and practices in the area of protection. The workshop aims to provide knowledge-based assistance to those working in the humanitarian field, develop their skills, and promote their awareness and knowledge of the principles of humanitarian action in light of Islamic jurisprudence and international humanitarian law.

Speaking at the Middle East Investment Conference in Dubai, Ibrahim Warde, adjunct professor at Tufts University in the United States and a noted author on Islamic finance, argued that since the 1990s Islamic finance has gained much more international acceptability but that it continues to grapple with the fundamental form-versus-substance debate. With the current size of the Islamic finance market at over $1.3 trillion, Warde believes that it is not an exaggeration to say that in the world of finance, the fastest growing segment is Islamic finance.

At the 4th Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2013) in Singapore, Bahrain based international standard-setting body the International Islamic Financial Market (IIFM) announced the launch of IIFM Inter-Bank Unrestricted Master Investment Wakalah Agreement. This global standard document is supplemented with an Operational Guidance Memorandum. It is developed to be used in the Islamic inter-bank market between financial institutions in order to manage their liquidity requirements. It is also aimed to minimise the over reliance on the use of the Commodity Murabaha in the inter-bank market transactions. The key main features of this Agreement is that the Investor, the Muwakkil, will appoint the Wakil as its Agent to invest its funds in a Shari’ah compliant manner in exchange for a fee.

Dubai World has sold one of its UK assets as part of its efforts to repay creditors. A unit of Toronto-based investment company Brookfield Asset Management has bought logistics warehouse developer Gazeley from Dubai World subsidiary Economic Zones World (EZW). However, they did not disclose the value of the transaction. Proceeds from the sale of Gazeley are expected to go towards the repayment of a $1.2 billion loan secured by associate firm JAFZA in June last year. EZW had pledged up to US$300 million for JAFZA from the proceeds raised by the Gazeley sale, and should the sale be completed, funds will be used to part-repay the bank facility. The sale is the first major divestments of a foreign asset by Dubai World since it agreed on a debt deal with creditors in 2011. The restructuring agreement promised full repayment to creditors through a series of disposals of overseas assets.

Citi Bahrain and the Bahrain Association of Banks (BAB) recently organized a 'Women in Banking' roundtable that determined that there is a need to establish a forum to support and empower women working in Bahrain's banking and financial sector. Female banking executives from more than 15 institutions attended the seminar. Speakers pointed out the role of women in the banking and financial sector, which is the largest single employer in the Kingdom, with women making up 37 percent of its workforce. Challenges facing women in the financial sector like the prevailing attitude towards women, an existing male-dominated workforce, the organizational culture and a lack of female role models were discussed. The event was closed with a suggestion to form a working group to formulate recommendations on how best to further the development of women in the banking sector.

The initiative to transform Dubai into the world’s capital of the Islamic economy is progressing steadily towards the goals as scheduled, said Mohammed Abdullah Al Gergawi, Chairman of Dubai’s Islamic Economy Higher Committee. During its meeting, the committee viewed the work of its major teams tasked with implementing the initiative. The meetings provide an opportunity to discuss the role of these sectors in the implementation of the initiative, he added. All strategic partners and experts are included in these meetings and workshops so as to exchange views and ideas on the initiative, and reach a form of fruitful and constructive cooperation. Dubai’s Islamic economy platform includes finance instruments, insurance, contracts arbitration, Islamic food industry and trade standards (halal food), and quality management standards.

Mashreq Al Islami recently launched a range of Islamic banking solutions for business banking clients. In addition to personal banking products, the bank now offers flexible business solutions to small and medium sized enterprises (SMEs) across all their business needs. SMEs can benefit from multiple finance options while staying true to Sharia'h principles. Mashreq Al Islami 's Business Banking offers Small and Medium Enterprises a comprehensive suite of Islamic business solutions including Islamic business finance of up to AED1.5million, Islamic business current accounts offering a range of banking solutions on multiple business accounts, attractive and customized Takaful for life cover and savings plans, as well as Islamic treasury solutions.

Al Hilal Bank has announced that it will continue its sustainability efforts of switching off the lights in its branches and offices after working hours and will add a new green initiative in commemoration of World Environment Day on June 5, 2013. Since dimmer screens save energy by as much as 20 per cent, the bank will promote and offer dark-themed backgrounds and screensavers via strategic websites, emailers, Facebook tabs and Twitter links. Through its online campaigns for its ‘Go dark’ initiative, Al Hilal hopes to encourage more organizations and individuals to support simple actions that protect the environment. World Environment Day is celebrated every year on the 5th of June and organized by UNEP - theUnited Nations Environment Programme. This year’s event was held under the theme ‘Think.Eat.Save.’ and was hosted by Mongolia.

In a Tuesday filing with U.S. Bankruptcy Court in Manhattan, Arcapita's official committee of unsecured creditors said it wants to challenge three sets of claims that it says could unlock millions of dollars for creditors of the liquidating firm. The creditors think they can recover more than $33 million owed to Arcapita being held by three Bahrain banks and save Arcapita from $100 million in liabilities stemming from a 2011 transaction with its subsidiary Arcapita Investment Holdings that may have been insolvent. The creditors also think they can get $1.2 million more related to a "preference" claim, which typically refers to claims from the 90-day period before a company files for bankruptcy. In their filing, the creditors said they didn't think litigation would be overly expensive.

Bahrain-based Venture Capital Bank reported a fifth consecutive quarter of profitable performance. The Islamic investment bank posted a net profit of $20.2 million on total revenue of $39.6m for the 15 months ended March 2013. For the quarter ended March this year, the profit was $1.7m and the revenue $5.08m. Total revenue increased 472 per cent on annualised basis to $39.6m for the 15-month period. Concurrently, total expenses decreased by 26pc on an annualised basis to $13.5m for the 15-month period as a result of cost reduction and organisational improvements. Shareholders' equity has grown by 9pc on an annualised basis to $199.2m as of March this year. The results affirm the bank's strategic focus on key sectors, such as healthcare, agribusiness, oil and gas and shipping and in the more economically and politically stable markets in the Mena region.

Khaleeji Commercial Bank and Bank Al Khair, a pair of Bahraini banks, are in talks over a potential merger. The banks have signed an agreement to explore the feasibility of a merger and are forming a steering committee to do due diligence and execute the deal. The proposed tie-up between Khaleeji, an Islamic bank founded in 2004 and listed on the Bahrain bourse, and Bank Al Khair, an Islamic investment bank, comes amid a wave of talks among Bahraini lenders. Three small Bahraini banks completed a merger in January, and Bahrain's Al Salam Bank and BMI Bank are currently pursuing a merger.

Goldman Sachs Group Inc. (GS) led its first sukuk in more than three years after helping a Saudi property developer raise $450 million. The bank was a lead arranger on Dar Al Arkan Real Estate Development Co. (ALARKAN)’s sukuk on May 21, reforging links with the Riyadh-based real estate company after helping arrange the sale of its $450 million five-year bonds in February 2010. The New York-based bank is seeking to catch up with U.S. competitors as demand accelerates for securities that conform to Islamic principles. Increased competition in the industry could work in banks’ favor, as lower fees increase the chances borrowers will come to market and more banks means a greater profile for the Islamic industry.