IslamicFinance.de

More than 100 West Yorkshire Muslims attended an event in Bradford which focused on Islamic finance. The networking dinner was organised by the Professional Muslim Institute and sponsored by the Islamic Bank of Britain plc and Ummah Financial, two of West Yorkshire’s leading Islamic finance providers. Guest speaker was Imam Qari Asim, senior Imam at Leeds Makkah Mosque.

At a networking event organised by ACCA (Association of Chartered Certified Accountants) in Manama, His Excellency Dr Abdul-Hussain Bin Ali Mirza, Minister of State for Electricity and Water Affairs, said that the financial scandals of the past have led to a general loss of trust and confidence in auditors. Finance professionals working in Bahrain and the Middle East have been urged to ensure working to the highest ethical standards in order to avoid such scandals. Ethics and integrity are at the heart of ACCA's Competency Framework. The vast majority of Chief Financial Officers said it was important to have a good understanding of professionalism and ethics besides finance expertise and capabilities.

The Saudi Basic Industries Corporation (SABIC) sponsored the GCC Board Directors Institute (BDI) workshop on Corporate Governance and Board Effectiveness Practices in Riyadh from February 25 to 27. The overall goal of BDI is to support better corporate governance, primarily through building board member capabilities. The workshop brought together senior directors from leading corporate entities and institutions in the region to share knowledge, experiences and best corporate practices.

Economists, financiers, bankers and business owners met late last week to debate the state of small and medium-sized enterprises (SMEs) in the GCC region, and considered various alternative models for financing SMEs in light of the need for cheaper and more available growth capital. The roundtable examined the importance of SMEs to the economy and considered new opportunities for funding to help these businesses grow. However, for banks, the cost to serve SME clients remains high due mainly to the breadth of risk and experience required to assess that risk. One of the most pressing areas to address is in the provision of financial support for start-ups and micro businesses. According to the panel of SME experts, new technology platforms can make a significant contribution.

Al Khalij Commercial Bank's (Al Khaliji) Q.S.C., announced its Gold Sponsorship of the upcoming annual Qatar Career Fair 2013, which will be held at the Qatar National Convention Centre (QNCC) between April 1st and 6th 2013. Al Khaliji is looking for a wide-range of Qatari nationals to fill different roles in the bank, from young university graduates to more experienced professionals. The Al Khaliji team at the Qatar Career Fair will provide practical advice and recommendations to Qatari nationals looking to build careers in the banking and finance industry. The team will also discuss opportunities for professional growth within Al Khaliji.

Why an Islamic Finance training programme?

The Islamic banking and finance (IBF) sector has experienced substantial and unprecedented growth in recent years: growing at a rate of 10-15% per year. Today, more than 500 IBF institutions are operating worldwide, which are claimed to manage assets worth no less than $1.2 trillion, while the assets held in IBF institutions were only less than $10 billion in 1985. In Malaysia the IBF institutions are planned to capture the 25% of the market share, in terms of assets owned, by 2012, while it is expected that Islamic finance will be the mainstream finance in the Gulf region in the next decade.

Such immense growth has brought Islamic finance to the attention of the international banking and finance community, prompting the major banks to set up Islamic financial windows to take advantage of demand for Shari'ah compliant finance.

The conference "Succession Planning 2013" organized by Abu Dhabi University Knowledge Group will be held in Dubai on 25-26 February 2013. The two-day forum will present case studies from family businesses, multi-national corporations and government organizations in the GCC region. Senior C-level Suite Representatives, HR professionals and talent management experts from the public and private sector are going to discuss the importance of implementing succession planning strategies to ensure business continuity and reduce corporate risks.

International business leaders and in-house counsel gathered at the Patton Boggs office in Doha yesterday for an in-depth briefing on recent developments in U.S. and UK Anti-bribery laws, implications and compliance measures. Patton Boggs Partner and International practice Chair Joseph Brand lead a discussion on the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act. The seminar held aimed to foster a more comprehensive understanding of the anti-bribery laws among U.S. and UK companies. It was the first in a series of seminars to help businesses operating in the Gulf to be compliant.

Middle Eastern business leaders gathered to discuss "Economies of Freedom: Reshaping the Future of the MENA region" at the second annual Wharton MENA Business Conference on Feb. 16, which was held in Philadelphia. Iraqi entrepreneur Shwan Taha, one of the panelists at the conference, advised the young audience to invest in frontier markets in whichever sector that could serve the young generation. Joe Saddi, who heads Booz & Company added that logistics is a big opportunity. The general recommendation for young US MBA students was to invest their time and business strengths into an uncertain environment instead of worrying about the unemployment statistics from MENA countries.

The selection meeting for the 8th edition of the Islamic Development Bank prize for "Women's Contribution to Development" was held on February 18-20 2013 at the bank's head office in Saudi Arabia. The annual IDB Prize for Women's Contribution to Development is one of the many activities the bank engages in for the purpose of socio-economic development of societies. Effat University (EU) was entrusted to be the Academic Consultant hence handle the screening and short listing of candidates. There were two categories of prizes, one for individuals that carries a cash award of 50,000 US dollars, and another for organisations with a 100,000 US dollars award. For this year, the Panel received 108 files.

The conference of 'the private sector role in projects development' was held in Kuwait, where participants discussed a large number of important economic issues related to projects development, legislation, incentives and funding sources as well as the obstacles and difficulties they face. Kuwait Finance House KFH received appreciation for their plans for development in Kuwait that aim to build an economic base, create jobs and areas of new production and strengthen the role of the Kuwaiti private sector. Important international financial institutions and Kuwaiti banks expressed their keenness and ability to finance these projects.

The seminar titled "Islamic Microfinance - Approaches & Practices: A Case Study of Akhuwat" was held in Pakistan last Wednesday. Various initiatives of Islamic microfinance in Pakistan, their philosophies and methodologies were highlighted in the seminar and the case of Akhuwat Foundation was discussed as a case study. It was also observed that Islamic microfinance was still in its evolution, and speakers therefore gave recommendations for further growth and strengthening the operations of Islamic microfinance institutions.

Finanzkrise, Bankenkrise, Eurokrise – und kein Ende. In den drei monotheistischen Religionen gibt es ziemlich präzise Vorstellungen über den Umgang mit Geld und Schulden. Bieten sie uns Lösungsansätze für die heutigen Probleme?

Dienstag, 5. März 2013, 20 Uhr, IGB Leimenstr. 24, 4051 Basel

Michael Gassner: Geld und Ethik im Islam

„Jüdische“ oder „christliche“ Banken gibt es nicht, wohl aber islamische, deren Geschäftstätigkeit sich nach dem islamischen Religionsgesetz, der Schari‘a, richtet. Der zweite Vortrag in der Reihe „Geld & Ethik“ beschäftigt sich mit den Regeln des Geldwesens im Islam und deren Anwendung im modernen islamischen Bankwesen. Michael Gassner ist muslimischer Bankfachmann und entwickelt islamische Finanzprodukte für eine Schweizer Privatbank.

Thomson Reuters will be discussing Oman's leading position as a preferred investment destination for Sukuk during an upcoming forum set to take place on February 24, 2013. It will be investigated what needs to be done to facilitate the country's entry to global Islamic financial markets by Thomson Reuters with support from the General Council for Islamic Banks and Financial Institutions (CIBAFI) and Islamic Research and Training Institute (IRTI). Thought leaders, bankers, and Shariah scholars will discuss the opportunities of setting up Islamic financial markets operations in Oman, how to capitalize on the global Islamic financial markets interest, and explore prospects to develop a strong Islamic interbank and fixed income market.

The Islamic Finance Society is pleased to announce our first event. Starting with a presentation on careers opportunities in Islamic Finance, followed by a presentation and discussion on industry related topics in Islamic Finance: Asset Management, Real Estate, Investment Banking.

Tuesday 19 February 2013, 18:30-20:00
Cass Business School, 106 Bunhill Row, London EC1Y 8TZ
Room: LG001
Registration: 18:15-

The conference titled "Arab Youth & Entrepreneurship: Holistic Approaches to Nurturing Local Ecosystems", which will take place on February 16-18, 2013 in Doha, Qatar, will focus on creating economic opportunities for young people in the Middle East and North Africa. Issues to be addressed include gender issues and job creation for low-income groups. The organizer of the conference is the MENA Child and Youth Program of the Arab Urban Development. The registration is free of charge and all sessions will be simultaneously available in Arabic and English.

The finalists for the inaugural British Muslim Awards were announced. The event will be held on Tuesday, 29th January 2013 in Manchester and honors achievements of Britain’s Muslim individuals, groups and business people. The Islamic Bank of Britain sponsors the event that will also raise money for Mosaic, a charity enterprise.

Arab leaders from various countries will take part in the third Arab Economic and Social Development Summit in Riyadh starting on January 21st. The summit will last two days and aims to break tradition and tackle the people's hopes in the times of the Arab Spring uprisings. The foreign minister of Saudi Arabia, Prince Saud al-Faisal, pointed out that the summit must concentrate on problems and issues concerning the lives and aspirations of the people.

Heads of state and businessmen meet in Davos at the World Economic Forum (WEF) on Wednesday 23/01/2013, where attention will be focused on economic reforms following the Arab Spring. This year’s theme will be resilient dynamism and how to deal with changing contexts and sudden shocks. The Davos meeting will also include a separate session on Syria to discuss the country’s prospects this year.

The Islamic Financial Services Board is actively working on organizing an Islamic Financial Services Industry (IFSI) Stability Report. The publication is due in May 2013. The goal of the report is to achieve a number of objectives, among which to stress on the growth trend and challenges faced by the IFSI post-crisis, and to bring the progress on various financial initiatives undertaken to promote global financial stability and the impact on the IFSI up to date. The Roundtable on the Islamic Financial Services Industry Stability Draft Report will take place on 21st of January 2013 at Sasana Kijang, Kuala Lumpur, Malaysia.