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Call for Participation

Islamic Microfinance A Real Hope for Poor

Global Islamic Microfinance Forum

8th - 10th December, 12 at Dubai, U.A.E

AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry.

It is our pleasure to invite you and your team to participate in “Global Islamic Microfinance Forum” planned to be held on 8th - 10th December, 12, 2012 in Dubai U.A.E. We are in great need of Islamic microfinance as Islamic microfinance has the accurate substitution to cut down the global poverty due to its unique characteristics, its provides ample benefits & sustainable solutions to Microfinance institutions which can be utilized for poverty alleviation and social development in effective way.

For further details about the forum, please visit: www.alhudacibe.com/IMFC2012

Property giant Limitless has made a deal to to restructure $1.2bn (Dh4.4bn) of Shari’ah compliant debt with its lenders. The syndicate was established in 2008 and was originally due in 2010. Because of the restructuring, the company's ownership will be transferred to the government of Dubai. Limitless has set to repay all its creditors by 2016.

Read more on: http://www.theislamicglobe.com/index.php?option=com_content&view=article...

Due to relative stability in a volatile region, Dubai has quickly become role model for its neighbour countries. Appealing opportunities for foreign companies as well as for individual investors are offered. The next step for Dubai's development is Corporate Social Responsibility (“CRS”). Nonetheless, the implementation of CRS activities has stumbled upon several obstacles including cultural, religious and reactionary to global forces.

The Global Islamic Microfinance Forum 2012 will take place from 8th to 10th of December 2012 in Dubai. Major theme of the event is “Islamic Microfinance – A Hope for Poor”. On the 9th and 10th of December there will be an optional workshop titled “Shariah and Marketing Techniques in Microfinance”. Participants will be taught about the Islamic microfinance model. The goal is to encourage its practice on a national as well as international level, including in non-Islamic businesses. The organizer of the event is AlHuda Center of Islamic Banking and Economic (CIBE), a nonprofit consulting firm from Pakistan.

Read more on: http://www.microcapital.org/microfinance-event-alhuda-center-akhuwat-org...

SMEs move from their entrepreneurial phase to a professionally-managed phase. As a result, there is a huge necessity for them to adopt the concept of corporate governance. According to a report by Capita Group International (CGI), Gulf SMEs are not particularly efficient. There is a huge difference between their share of employment and their share of gross domestic product (GDP) to GDP's disadvantage. National Commercial Bank (NCB) shows in a report that the majority of GCC businesses, especially SMEs, demonstrate low efficiency, low growth, little innovation and weak management.

Read more on: http://gulfnews.com/opinions/columnists/challenge-of-entrepreneurship-in...

According to an announcement, Al Ansari Exchange and the Bill & Melinda Gates Foundation will sign a partnership of $10 million (Dh36.72 million). The partnership aims to support two significant health issues: polio eradication and treatment and prevention of neglected tropical diseases (NTDs). The agreement will start with an initial co-funded contribution of $4 million in support of polio eradication activities in Pakistan and Afghanistan. Prevention and treatment of NTDs in sub-Saharan Africa is planned as well. The partnership initiatives shall represent focused, strategic philanthropy and have a strong positive effect on the life of people in the poorest countries.

Read more on: http://www.zawya.com/story/UAE_firm_partners_Gates_Foundation_in_health_...

According to the latest study of strategic consultancy Insight Discovery, the number of advisers in the UAE is as high as 3,700. This is far beyond any expectations and indicates a surfeit of advisers. The total number constitutes of 1,050 independent financial advisers, 650 private bankers from international and local banks, and about 2,000 advisers from UAE banks. The study also stresses on the need to increase regulatory approval and supervision of advisers. The three largest independent adviser companies are said to be Nexus, de Vere’s, and Globaleye’s 80.

The educational system provides numerous young specialists in Islamic finance, however, they are hardly able to find a job. According to a UAE senior Islamic banker, one of the main problems in the industry lies in the lack of suitable graduate training programmes and internships. Thus, it becomes very difficult to absorb the growing number of graduates. The solution to this issue is in the hands of the corresponding institutions themselves. Moreover, employers look for experienced employees and even prefer experienced candidates from the conventional banking sector.

Dubai Woman Establishment is going to organize the 3rd edition of Arab Women Leadership Forum on November 19-20. The event called "Board Leadership and the Case for Diversity" will focus on issues and opportunities surrounding the role of women in the boardrooms. Among the participants will be an elite group of women leaders from around the region that will share practical ideas and deliberate on topics related to board leadership and diversity of a woman.

See more under: http://www.zawya.com/story/Dubai_Women_Establishment_to_Host_Third_Arab_...

The committee of Prince Mohammad Al-Faisal Prize has officially announced new nominations for the annual prize 2012. The prize has an important role in promoting Islamic economics and should contribute to foster creativity among young researchers. The winning research work on Islamic economics will be granted a SR100,000 cash prize.

See more under: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20...

The principles of Shariah are a key factor in family enterprises in the Gulf region. Since enterprise and trade go hand in hand to contribute to the development of a progressive, prosperous ummah as well as to create wealth and provide exchange opportunities, Shariah has its way to support it. Thus, employment and economic growth are stimulated. This is why Shariah does not accept the concept of hoarding and, instead, places an obligation upon Muslims to spend in the way of society through acts of charity, entrepreneurship and investment.

More on: http://www.mondaq.com/x/197730/Economic+Analysis/Growth+Of+Family+Enterp...

Boeing Capital Corporation pointed out that strategical investment into new aircraft is necessary. Also, the growth of Islamic financing’s position in commercial airplane deliveries shows its results. Due to their mobile nature and asset attractiveness, airplanes are considered ideal for lending under Shariah law. During the last two years, numerous financial institutions and airlines in the Middle East havelargly increased their investments in new Boeing commercial airplanes. Thus, they were able to realize substantial rewards for their investors because of the growing demand.

More on: http://www.traveldailymedia.com/138359/aircraft-investment-islamic-finan...

The date for the Global Islamic Microfinance Forum on Islamic Microfinance is set: 8th December, 2012. Representatives from over 30 countries will gather in the UAE for the forum in order to exchange experience and expertise. The forum aims to introduce Islamic Microfinance to the global public and to present it as an effective tool for poverty alleviation and social development. Furthermore, it will try to develop Islamic Microfinance internationally and to have a dialogue with International Donor/Development agencies and corporate entities for sustainable development.

More on: http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu...

Dubai Electricity and Water Authority (DEWA) considers the launch of a sukuk next year. The initiative shall be part of DEWA's refinancing plans. Other products in combination with the sukuk, such as securitisation, will also be included. The issuance is expected to lead to benefits from lower borrowing costs. The money gained is intended to be used for repayment instead of investment.

More on: http://in.reuters.com/article/2012/09/24/dewa-sukuk-idINL5E8KO12U20120924

After Dana Gas PJSC's biggest shareholder announced the possibility for the fuel producer to come to a satisfactory resolution with investors on $1 billion in Islamic bonds maturing next month, the company has surged significantly. The shares soared the highest percentage since February 19th - 4.9%. Abu Dhabi’s benchmark ADX General Index (ADSMI) and the Bloomberg GCC 200 Index (BGCC200) display Dana Gas as the company with the highest trading volume.

More on http://www.bloomberg.com/news/2012-09-19/dana-surges-as-investors-see-su...

Recently a number of GCC companies issued landmark corporate and infrastructure sukuk in Malaysian ringgit. According to a report by Standard & Poor’s Ratings Services, this might be a sign of a starting trend of development and globalization of the market. Islamic financial instruments are becoming more popular since conventional banks worldwide offer fewer and shorter loans. Especially for countries of GCC and Asia, Islamic financial instruments will very probably become a key funding source.

More on: http://gulfnews.com/business/banking/gcc-and-asia-likely-to-use-sukuk-fu...

Al Jazira and Al Hilal Bank signed a sponsorship contract which starts with this seasons and continues for three years. Since Barclays Bank and Al Jazira put an end to their association, it was the perfect moment for Al Hilal Bank to come on board. Due to recent sponsorship, the logo of Al Hilal Bank will be seen on the UAE Olympic football team's apparel, the players dugout and other signage at the club’s facilities.

A significant growth in the global takaful industry has bben observed over the last few years. According to the Ernst & Young World Takaful Report 2012, global takaful contributions show an increase of 19% to $8.3 billion in 2010. $5.68bn of these contributions belong to GCC. Nevertheless, it is a key challenge for takaful players in the Middle East to maintain the growth momentum while boosting profitability.

Profitability and asset growth in the GCC banking market have grown significantly since last year. This development is due to a favourable regional macroeconomic environment as well as reduced cost of risk. Since the facts correspond with A.T. Kearney's banking outlook from 2011, optimistic attitudes though with some cautiosness return. Markable differences in the growth rate and profitability of the UAE countries over the last year are discussed.

According to a GCC survey, insurance profitability has deteriorated significantly in the past four years across top 30 conventional insurers. While 28% in 2007, it sropped down to 9% in 2011. A solution to prevent further decline is to revamp operating models with profitability pillars. There is a huge difference between e.g. motor premiums and medical insurance, which causes controversial reactions by insurers. While motor premiums in the UAe show a decrease of 23% over the last three years, healthcare provider costs have grown up to 50% in the same period.