IslamicFinance.de

Pakistani ABL Asset Management has announced the establishment of an Islamic equity fund. The fund is expected to tap the growing market of investors who want to make their investments in stocks of Shariah-compliant companies only. In contrast with the current offer of the company - the Islamic Income Fund - the new Islamic equity fund will entail higher levels of risk and return. The date of release is not known yet but according to the company's CEO Farid Ahmed Khan, it will be rather soon.

Turkey is well on its way to become the next hub for Islamic banking and finance. It only needs its government to show its commitment to Islamic finance so that other participants in the industry join Turkey in building a vibrant Islamic banking and finance industry. The recent successful $1.5 billion sovereign Sukuk issue denominated in dollar as well as the lira-denominated $900 million sovereign Sukuk have lead the county's way to the global platform of Islamic banking and finance. Since Pakistan has the most Shariah authentic model of Islamic banking, a Turkey-Pakistan alliance will contribute to the promotion of Islamic banking in Turkey, and, furthermore, it is expected to bring a new juristic approach to product development and structuring.

Read more on: http://tribune.com.pk/story/451643/rising-partner-a-turkey-pakistan-alli...

The common belief goes that Islamic finance or banking is for Muslims only. However, this is not true. Islamic finance and banking attempts to build a financial system based on ethics and fairness, havin thus an effect on the socio-economic conditions of the market it is implemented in. Therefore, people of any belief can make use of it. The problem is the lacking awareness about Islamic finance in Pakistan as well as worldwide. Optimized solutions for proper display of Islamic products and for bridging the communication gap between the Shariah councils issuing the fatwas pursuant to Islamic Finance, and the managers drafting the advertisements are sought.