IslamicFinance.de

A leading progressive Islamic bank that embraces innovation and values creativity is recruiting for a Project Manager for its Head Office in Abu Dhabi

Key Skills and Experience:

At least 5+ years experience in the capacity of a project manager
PMP or Prince2 certification is highly desirable.
Experience in managing multiple project concurrently

Dubai Chamber's Corporate Governance conference will be held on November 28. The main topic of the conference with a title "Dubai Dialogue: Corporate Governance and Value Creation" is centered around the overall emerging trends in corporate governance and the importance of adopting the right structures and the roles of corporate boards.

Indian Islamic finance industry is still facing legal obstacles on allowing Sharia-compliant banking products in the country. Indian Muslim minority which is the largest in the word, nowadays cannot access Islamic financial services as the sector requires banking to be based on interest, which is forbidden in Islam. The issue of Islamic finance is being studied by the Reserve Bank of India since 2005.

The SGI-Mitabu launched the first ever Aussie sukuk in the Malaisian offshore tax haven Labuan, thus avoiding Australian rules that penalize Sukuk. The offshore paradise Labuan which has established a global financial hub in 1990 is located on the coast of eastern Sabah state on Borneo Island (Malaysia).

Malaysian car distributor UMW is going to launch a refinancing program worth 2 billion ringgit ($653 million) in order to refinance existing debt and fund investment. The 15-year plan will be arranged by Maybank Investment Bank and Standard Chartered

Malaysian's central bank governor has claimd that Islamic finance will contribute to the global agenda of developing sustainable growth. Providing financial services that add value to the real economy is the focal point of Islamic finance and tenets.

According to the 2012 National Bonds GCC Savings Index, Bahrain nationals has experienced the biggest increase of savings sentiment while Qatari nationals savings sentiment has darken. E.g Kuwait interviewees had admitted that their savings are less than they had originally planned at 78%. You can find more statistics here.

Indian private equity firms are more and more interested about entering Shariah-based funds market. According to Taqwaa Advisory and Shariah Investemt Solutions, there are at least six financial institutions with plans to issue Shariah-compliant funds in India.

Indonesia is on the course to become the major player in takaful industry. Growth rate as well as premiums for takaful operations has been increasingly growing in the last years and as result thereof, Indonesia could overtake several GCC countries. During the 2007-2010 period, the growth of Indonesian takaful industry was being supported from both domestic and international insurance companies. The Industry outlook for the period 2012-2016 remains in all aspects positive.

Three new takaful licences has been launched and are waiting for completing of all the requirements, according to Oman's Capital Market Authority.

The number of of S&P 500 and Fortune 500 companies in the area of environmental and social responsibility as well as governance has doubled from 2010 to 2011, according to Governance and Accountability Institute. More information on the topic you can find in following article.

The US Agency for International Development has been trying in the past two years to increasingly alleviate the poverty in the Middle East. In the course of this approach, Arab Non-profit organisations was forced to rethink their strategic orientation to focusing rather on US strategic interest than on their own local needs. The following article gives detailed insight on this issue.

Saudi Arabian Mining Company received revolving credit worth SAR 9 billion to upsize the facility as well as to increase its financial flexibility. The credit was provided by a syndicate of 11 local and international banks.

Tunisian government became an offer for financing of the purchase of four brand new airplanes from the Qatari Islamic Investment Bank. The discussions were led among the management of the bank, the Minister of Transport of Tunisia and the CEO of Tunisair.

Dr Yaqoub Al Naqbi assumes the responsibility of the Central Bank governor for breaking the law by offering Islamic services as other commercial activities. The governor Dr Al Naqbi has underlined that regulations were constantly developing and the criticized licensing practice was necessary to keep up with market demand.

The Gulf Bond and Sukuk Association has named a new chair of its steering committee and announced the creation of a sub-committee to promote asset management within the region. Giambattista Atzeni has replaced Andrew Dell as a new chair of the GBSA steering committee for 2013.

The Arab Organisation for Social Responsibility has awarded Al Baraka Banking Group (ABG) for the best Arab Bank supporting social responsibility. The aim of the award is to encourage the role of public and private sectors, government and private institutions, in the area of social responsibility.

Malaysian central bank's governor confirmed that the new legislation for Islamic banking and takaful products is in the final stages. The new legislation should give a stronger legal basis to financial institutions. However, there was no time frame set for launch of the legal framework.

France is gradually developing its Islamic financial sector. The absolutely first french Sukuk was launched in 2011 with aim of investing in the food sector in France. Later followed two more Sukuk issues in 2012 for both individual and institutional investors. Through these Sukuk issues France demonstrates its disposition to support Islamic financial structures and develop the market.

Banque Saudi Fransi (BSF) wants to close a SR1.9 billion ($506.6 million) Lower Tier 2 Islamic bond issue. This should grow bank's subordinated debt or Tier 2 capital. Although the sukuks has a seven-year maturity, it is callable, so it can be repaid already after five years.