IslamicFinance.de

UNESCO works in education, the sciences, culture and communication and information. Recently it lost a substantial portion of funding as the newspapers reported (see for details: http://www.bbc.co.uk/news/world-middle-east-15527534 ). It is worth considering how to support the UNESCO and their goals:

"UNESCO works to create the conditions for dialogue among civilizations, cultures and peoples, based upon respect for commonly shared values. It is through this dialogue that the world can achieve global visions of sustainable development encompassing observance of human rights, mutual respect and the alleviation of poverty, all of which are at the heart of UNESCO’S mission and activities.

The broad goals and concrete objectives of the international community – as set out in the internationally agreed development goals, including the Millennium Development Goals (MDGs) – underpin all UNESCO’s strategies and activities. Thus UNESCO’s unique competencies in education, the sciences, culture and communication and information contribute towards the realization of those goals.

State Bank of Pakistan (SBP) has issued Guidelines for Islamic Microfinance Business by Financial Institutions.

This report has been prepared to assist the International Development Law Organisation (IDLO) in
understanding the basic Islamic law (Shari'a law) principles governing the provision of Islamic
finance products and services, the processes typically involved in obtaining Shari'a approval for
Shari'a-compliant financing transactions and products and the relationship between Shari'a law and
secular law in certain jurisdictions. This report also summarises the results of our research into the
state of Islamic microfinance in certain Middle Eastern, South Asian and Southeast Asian countries.
The information included in this report is derived from a combination of our experience of advising
on Shari'a-compliant financing transactions and publicly available sources and materials. We have
not independently verified the information obtained from external sources that we used and make no
representations as to its accuracy or completeness. In addition, we did not undertake an exhaustive
search of all information or materials which are publicly available in relation to Islamic microfinance

The Islamic Finance Talent Development Program (IFTDP) is a talent development program with the sole objective of building a pool of highly talented young Islamic Finance executives who are capable of leading the Islamic Finance Industry in the future.

The program is for 2 years and it provides the participants with on-the-job experience and exposure to the different aspects of Islamic Finance, upon which they are to build a career in Islamic finance.

National Bonds Corporation PJSC celebrated World Savings Day, which falls on Monday October 31, with a host of activities with the purpose at engaging the public and spreading awareness on the importance of savings.
The popular scheme held awareness sessions at universities across Dubai to commemorate the day and also set up a charity football tournament. The places where the awareness sessions were held are: Dubai Knowledge Village, Zayed University and Dubai International Academy.

Global leaders point way to economic recovery at UN summit

Gordon Brown, Mary Robinson and global CEOs call for sustainable financial sector reform

Washington D.C., 20 October 2011 – With economic recovery topping the United States and global political agenda, a group of CEOs, major investors and bankers together with former United Kingdom Prime Minister Gordon Brown and President of Ireland Mary Robinson called for a far-reaching reform of the global financial system at a summit which ended in Washington D.C. today.

Amid a growing wave of protests highlighting economic concerns in countries from the US to the UK, Japan and Greece, more than 500 senior finance executives and policy-makers from around the world met at the United Nations Environment Programme Finance Initiative Global Roundtable (UNEP FI) summit to find sustainable solutions to tackle the drivers of market volatility and address the deepening rift between the rich and the poor.

Despite the existence of Shariah advisory councils, Islamic banks and financial institutions in Malaysia may be failing to carry out their duties. An article in this month’s JSSH investigates transactions on purchasing houses specifically on transactions involving houses pending completion using the current practice of ‘sale by deferred payment’ also known as Bay’ Bithaman al-Ajil (BBA).

Islamic banking gained foothold in Malaysia, with the establishment of Bank Islam Malaysia Berhad in 1983 and facilities have since expanded. Products include Wadiah - where the bank acts as the safe-keeper of deposits but may provide returns to the depositors as a gift; Murabahah, or partnership and equity financing; Ijarah – leasing; Musharakah – partnership and Bay’ Bithaman al-Ajil – sale by deferred payment. Nuarrual Hilal Md. Dahlan and Sharifah Zubaidah Syed Abdul Kader Aljunid looked at sale and purchase and loan agreement to see if they comply with the requirements of the Islamic Law in protecting stakeholders and to provide practical suggestions to improve the existing practice.

Klaus Schwab, executive chairman and founder of the World Economic Forum (WEF), has the strong oppinion that it is time for the Middle East to grasp a more holistic, inclusive and qualitative approach to economic development. He stated that the events in this region over the past 10 months have no precedent and have developed a new regional order that is still evolving.

He also reminded that the next World Economic Forum on Europe, the Middle East, North Africa and Central Asia will take place in Istanbul, Turkey, in June 2012.

In its new publication, Islamic Banking and Finance in North Africa, the African Development Bank assesses the state of Islamic banking in the region and explains why its use has been limited. The report considers the future potential of Islamic finance, including its possible alignment with North Africa’s development goals, particularly its ability to increase the diversification of funding sources.

The report takes into consideration the effect of Islamic banking’s focus on the equitable distribution of risk and returns between suppliers and users of funds. Islamic Banking and Finance in North Africa goes further by exploring whether Islamic-style finance contracts could contribute to the development objectives of North African countries.

full report for free download: http://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operati...

The Vatican called for an overhaul of the world’s financial systems, and again proposed establishment of a supranational authority, reported the New York Times.

Original in wording in Italian:
http://press.catholica.va/news_services/bulletin/news/28264.php?index=28...

Hansonwade’s Summit on scalable business models for Islamic Microfinance will take place from January 30 to February 1, 2012 in Istanbul, Turkey.

The focal point of the summit will be on identifying the potential business models available and their challenges. At the summit Tijara, USAID, Akhuwat, Al-Amal Microfinance Bank, Tanzania eco-Volunteerism and CWCD will share their projects.

Event Website:
http://islamicmicrofinance-summit.com/

According to sources of the monthly magazin Bilan, a French language business monthly, the 'Islamic Bank of Switzerland' is seeking a license to operate out of Zurich, Switzerland. Investors are supposed to be from Qatar.

The 2nd Quarter 2011 issue of the Malaysian ICM quarterly bulletin published by the Securities Commission Malaysia (SC) is now available online at:
http://www.sc.com.my/eng/html/icm/11_2Q_msianicm.pdf

Dear All,

as salamu alaikum wa Ramadan Karim,

May I kindly ask you to consider signing a petition against hunger, which has already more than 3 million signatories:

www.1billionhungry.org/gassner/

The rational behind it is explained on the website with materials, actions and videos; it is a joint initiative of various organisations and inshallah it will help to support the cause.

Let our fasting also lead to feel with those who do not have to eat at Iftar, let us sign all this petition right away and share it with friends.

Wa at taufiq min Allah,

Best regards,

Michael Saleh Gassner

More than 500 capital management companies and investment funds that are signatories to the United Nations Principles for Responsible Investment (PRI) will be required to disclose information about their investment decisions, under a revision of the PRI rules.

The PRI is backed by the UN Environment Programme and the Global Compact, and has signatories from 45 countries with more than $25tn of assets under management.

The 1st Quarter 2011 issue of the Malaysian ICM quarterly bulletin published by the Securities Commission Malaysia (SC) is now available online.

ISF Workshop 2011
International Sustainable Finance Workshop:
Responsible Finance, Ethical Finance, Islamic Finance, Social Finance, Micro Finance...

September 22, 2011

Venue: Paris-Dauphine University

Place du Maréchal de Lattre de Tassigny

75775 PARIS Cedex 16

§ Deadline for the submission of full paper : May 16, 2011.
§ Complete papers must be sent to BOTH following email addresses:
kaouther.jouaberping@dauphinepong.fr
and
dhafer.saidaneping@skemapong.edu

Download call for papers (pdf)

The Workshop is organised by the European Research Group (Groupement de Recherche Européen (GDRE)) “Money, Banking & Finance” (Monnaie Banque Finance) and its working group Islamic Finance jointly with Skema Business School and Paris-Dauphine University

The recent financial crisis has pointed out the limits of conventional finance. The role of financial markets is to provide products and tools that allow an efficient redistribution of risk among agents and over time.

ISF Workshop 2011
International Sustainable Finance Workshop:
Responsible Finance, Ethical Finance, Islamic Finance, Social Finance, Micro Finance...

September 22, 2011

Venue: Paris-Dauphine University

Place du Maréchal de Lattre de Tassigny

75775 PARIS Cedex 16

§ Deadline for the submission of full paper : May 16, 2011.
§ Complete papers must be sent to BOTH following email addresses:
kaouther.jouaberping@dauphinepong.fr
and
dhafer.saidaneping@skemapong.edu

Download call for papers (pdf)

The Workshop is organised by the European Research Group (Groupement de Recherche Européen (GDRE)) “Money, Banking & Finance” (Monnaie Banque Finance) and its working group Islamic Finance jointly with Skema Business School and Paris-Dauphine University

The recent financial crisis has pointed out the limits of conventional finance. The role of financial markets is to provide products and tools that allow an efficient redistribution of risk among agents and over time.

NCB Capital, a GCC wealth manager and Saudi Arabia's largest investment bank, has signed an exclusive agreement with INJAZ-Saudi Arabia to sponsor a three-year financial literacy-training program for male and female Saudi university students.

Pre-summit event at 8th Annual IFSB Summit to discuss developments in liquidity management for the Islamic financial services industry

Kuala Lumpur, 15 April 2011 – The Islamic Financial Services Board (IFSB) is organising its 8th Summit "Enhancing Global Financial Stability: Challenges and Opportunities for Islamic Finance" on 10-13 May 2011 in Luxembourg. Banque centrale du Luxembourg is hosting the Summit. Three pre-Summit events will be held on 10 - 11 May 2011 at the Chambre de Comemrce Luxembourg. These are:

1. Workshop on Islamic Finance and the IFSB Standards for Institutions offering Islamic Financial Services and Islamic Capital Markets;
2. Country Showcases by Malaysia and Luxembourg; and
3. Special Session on Liquidity Management in the Islamic Financial Services Industry.

Workshop on Islamic Finance and the IFSB Standards for Institutions offering Islamic Financial Services and Islamic Capital Markets, 10 May 2011