IslamicFinance.de

Gatehouse Bank plans to bring a $96.77 million Islamic bond to market by the end of the first quarter.
Richard Thomas, speaking on the sidelines of an Islamic forum in Abu Dhabi, said the bank would also arrange a 25-million pound ($40 million) syndicated lease financing this year.

Niche Islamic investment banks in the Middle East and North Africa (Mena) may go in for mergers and acquisitions with conventional lenders to achieve the critical mass for reaping economies of scale.
It is anticipated first the build up of national champions driven by major shareholders, as was the case with Emirates NBD in conventional banking. Nice Islamic bank, such as Islamic investment banks (which have been particularly affected by the financial crisis) may diversify through M&As with banks that complement their businesses.

SEI announced a partnership with Allfunds Bank to offer a greater choice of investment solutions for Shariah investors in the Gulf Cooperation Council (GCC).
The agreement brings together SEI's Shariah asset management capabilities and Allfunds' platform and intermediary services to give banks, wealth managers, and insurance providers the opportunity to access world-class Shariah-compliant funds and deliver more efficient and diversified investment choices to their clients.

After what will have been the longest period of sustained economic contraction since the great depression, Islamic banks, which have not suffered in the same manner as their conventional counterparts, should be seen as a safer and more socially responsible alternative.
The widely adopted Shari'ah prohibition of conventional derivative financial instruments, however, should at least provide a stark and direct reminder to Islamic banking circles of the importance of proceeding cautiously when structuring to replicate.

Abu Dhabi Islamic Bank (ADIB) had arranged a syndicated Dh1.14 billion Islamic financing deal for the Majid Al Futtaim (MAF) Group.
ADIB acted as the initial mandated lead arranger, sole bookrunner, investment bank and security agent bank for the deal. Other banks that participated in the financing deal include Al Khaliji Commercial Bank as mandated lead arranger, Al Hilal Bank, First Gulf Bank and United Arab Bank as lead arrangers and Ajman Bank as arranger.

The following borrowers are expected to sell Islamic bonds: MALAYSIA, YEMEN, DUBAI, GULF INVESTMENT CORP., FRANCE, SAUDI INTERNATIONAL PETROCHEMICAL CO., GENERAL ELECTRIC CO., PALESTINE MONETARY AUTHORITY, NAKHEEL PJSC, SABAH CREDIT CORP., CREDIT AGRICOLE SA, NOOR ISLAMIC BANK, NATIONAL COMMERCIAL BANK, KPJ HEALTHCARE BHD., EMIRATES TELECOMMUNICATIONS CORP., SENEGAL, ALBARAKA BANKING GROUP., ISLAMIC DEVELOPMENT BANK, THAILAND, KNM GROUP BHD., CAGAMAS BHD., SAUDI ARABIAN OIL CO., GAMUDA BHD., EGYPT, PT BANK MUAMALAT INDONESIA, SENAI-DESARU EXPRESSWAY BHD., MALAYSIA DEBT VENTURES BHD, INDONESIA, TURKEY, KAZAKHSTAN, PHILIPPINES, SAUDI ELECTRICITY CO., EMIRATES INTEGRATED TELECOMMUNICATIONS CO., LAFARGE MALAYAN CEMENT BHD..

NCB Capital will continue its plan to expand its asset management and brokerage services throughout 2011 as the largest investment bank in the Kingdom works to increase its market share in the Arab world’s largest economy.
In February, NCB Capital launched the first Shariah-compliant, US dollar-denominated open-ended fund in order "to provide investors an opportunity to participate in a new expanding asset class-sukuk.”

Malaysia's government-owned Pelaburan Hartanah Bumiputra launched an investment trust in order to encourage its majority Muslim Malays to invest more in property.
The sharia-compliant Real Estate Investment Trust (REIT) would allow Muslim Malays and indigenous groups to increase their stake in real estate assets.
As part of the plan the government would roll out programmes to enhance bumiputra capabilities.

After a meeting of The Board of Directors ("the Board") of The Investment Dar on the Nov 25, 2010, the Company issues the following update on its financial restructuring.
The letter gave notice of the CC's resignation effective at the close of business Nov 28, 2010 to immediately begin negotiations on an alternative 'Debt for Equity' proposal and to issue invitations to shareholders to attend an OGM/EGM to discuss a restructuring plan based on this principle.

Malaysia's government-owned Pelaburan Hartanah Bumiputra launched a 317-billion-dollar investment trust in order to encourage its majority Muslim Malays to invest more in property.
The sharia-compliant Real Estate Investment Trust (REIT) would allow Muslim Malays and indigenous groups to increase their stake in real estate assets.

GBSA says results underline need for issuers to communicate with bond and Sukuk investors; that a majority of investors have become more demanding over the past two years and an overwhelming majority feels that good IR can lead to more aggressive pricing of new issues. Fewer indicated that they had had contact with IR staff and most consider the information provided by issuers to be insufficient.
The Gulf Bond and Sukuk Association (GBSA) said it has concluded a survey of Gulf-based issuers and investors on bond and Sukuk investor relations (IR).
Among the key findings, it turns out that a majority of investors have become more demanding over the past two years and an overwhelming majority feels that good IR can lead to more aggressive pricing of new issues. Fewer indicated that they had had contact with IR staff and most consider the information provided by issuers to be insufficient. Most had met issuers on roadshows, but a number were not satisfied with the quality and quantity of information provided.

Middle East governments and companies are raising cash again from debt and equity markets, while solid oil prices and improving economic fundamentals are helping the region recover and restructure.
Yet even as the region regains its footing after the global financial crisis, political tensions and concerns over security remain a nagging worry for investors in the region.
Outside the Gulf, banks in Egypt and Lebanon have emerged from the economic crisis relatively unscathed, with both states expecting strong economic growth.
In Egypt, the government expects growth of at least 6 percent in the fiscal year to the end of June 2011, up from 5.3 percent the previous year.
Growing political tension over an international investigation into the 2005 killing of former premier Rafik al-Hariri has prevented the unity government from implementing reforms or getting the 2010 budget through parliament.
If tensions escalate into sectarian violence many Lebanese could withdraw their savings and the Lebanese pound could come under pressure. But the country has bounced back quickly from previous conflicts.

Shareholders of Kuwait’s International Investment Group (IIG) voted on Wednesday to cut the troubled company’s capital by more than half to cover its losses.

Dubai aims to cash in on strong demand for high-yielding emerging market debt with its first foray since the Dubai World restructuring was announced.
Analysts said the emirate's dollar bond issue, weeks after its flagship conglomerate clinched a debt restructuring deal, was timed to take advantage of more favourable market conditions than at any time since the Dubai crisis broke.
Investor hunger for decent yields, particularly in emerging markets, may help make Dubai's return a success. The overall interest in this bond and potential oversubscription may boost market sentiment.

Qatar First Investment Bank (QFIB) and specialist regional asset manager Gulfmena Alternative Investments plan to set up a Shariah-compliant asset management firm to tap into rising demand for Islamic investment products.

Steuerliche Würdigung im nationalen und internationalen Kontext

Der Markt Islamic Finance wächst rasant und umfasst bereits heute ein erhebliches Anlagevolumen. Demgegenüber besteht ein großer Kapitalbedarf in der europäischen, speziell auch in der deutschen Realwirtschaft ebenso wie ein Bedarf an Investoren.

Bei der Umsetzung von Islamic-Finance-Vertragsmodellen kann die Besteuerung im Einzelfall eine ausschlaggebende Rolle spielen. Daher erläutert die Autorin in diesem Buch für ausgewählte schariakonforme Finanzierungs- und Anlageformen zunächst die Scharia-Rahmenbedingungen der jeweiligen Vertragsmodelle aus deutscher rechtlicher, ertragsteuerlicher und verkehrsteuerlicher Sicht. Die steuerlichen Fragestellungen werden anhand von Beispielen im grenzüberschreitenden Corporate Bereich im Schnittpunkt von deutschem internationalem Steuerrecht und ausländischem Steuerrecht der weiteren beteiligen Staaten verdeutlicht.

Inhalt

* Einleitung
* Grundzüge von Islamic-Finance-Vertragsmodellen
- eigenkapitalbasierte („Musharaka“ und „Mudaraba“),
- fremdkapitalbasierte („Murabaha“ und „Tawarruq“) sowie

ResearchGATE is the largest social network for academic research globally. Dedicated social profiles of researchers allow to enter academic careers, published articles in journals and books, announce fields of research for international exchange just to name a few of the features.

IslamicFinance.de took another effort to create a dedicated group and invite researchers globally to use this platform and foster research in Islamic finance. The last academic initiative taken was to sponsor and start a full fledged platform for the Islamic Finance WIKI, the online encyclopedia.

Researchers are invited to participate in these initiatives.

Please visit:
http://www.researchgate.net/group/Islamic_Finance/

Advent Software, Inc. a leading provider of software and services for the global investment management industry, today announced that Jadwa Investment has selected Advent Portfolio Exchange(R) (APX), Advent's portfolio and client relationship management solution, and Advent Tradex(TM), a fund order management solution to streamline operations and support client service capabilities. Riyadh-based Jadwa Investment is a leading investment house in the Kingdom of Saudi Arabia and among the Kingdom's largest by assets under management.
The firm is a pioneer in the field of Shariah-compliant investment services, developing innovative and market-leading investment and financial products tailored to the needs of individual, corporate and institutional clients. Jadwa Investment offers a breadth of investment services for clients including dealing, investment management, custody, and advisory services.

Albaraka Türk Katilim Bankasi A.S. (Al Baraka Turk), a subsidiary-banking unit of Al Baraka Banking Group BSC (ABG), signed a $240 million syndicated Islamic financing in Istanbul. Twenty two GCC, European and international banks (both Islamic and conventional) participated in the syndication. The syndication was arranged and managed by Standard Chartered Bank, ABC Islamic Bank (Bahrain) and Noor Islamic Bank (Dubai). The funding deal comes as part of Al Baraka Turk's strategy to further expand and diversify its financial resources and further strengthen its name in the domestic, regional and global financial markets. Al Baraka Turk will use the proceeds of the deal towards the ongoing implementation process of a range of existing and newer products and services offered by it.

The Malaysian unit of Kuwait Finance House (KFH), the Gulf Arab state's biggest Islamic lender, is having "strategic alliance" negotiations in Japan, a newspaper reported on Sunday. Kuwait Finance Malaysia was the first foreign Islamic bank to win a licence under the Southeast Asian country's Islamic Banking Act. It is the Kuwaiti bank's Asia-Pacific hub and aims to promote business between the region and the Middle East.