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Barclays Bank of Kenya Ltd. announced the beginning of Shariah-compliant asset-finance product offer for corporates companies. This way it attempts to meet the growing demand of those companies. Barclays set aside $30 million for the so-called Corporate La Riba Asset Finance product. The latter includes fixed pricing and repayment periods of up to five years.

Read more on: http://www.bloomberg.com/news/2012-10-16/barclays-kenya-to-offer-shariah...

Solar Guys, an Australian solar company, is installing a 50MW solar facility in Indonesia, the money for which is gained through sukuk. The project is part of a larger solar energy plan - a 250MW plan titled "one solar watt per person". Solar energy is an example of an area where Islamic finance can give additional value to both Muslims and non-Muslims since it is promoting greater sustainability.

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

The Islamic Development Bank (IDB) has given its approval for a loan worth $710-million to implement four projects in Iran. The agreement was reached in the sidelines of the IMF annual meeting in Tokyo. The money will be used for the establishment of treatment plants at upstream areas around dams and rural regions, thus assuring prevention from environment pollution.

Read more on: http://www.zawya.com/story/IDB_allocates_USD710m_to_4_projects_in_Iran-Z...

At least five years later than initially supposed, Saudi Arabian and Malaysian Islamic finance experts start again their efforts to create common regulations for scholars. Together with its Middle Eastern counterpart, the Malaysian International Shariah Research Academy for Islamic Finance has started its work on guidelines which will be targeted at the number of boards on which scholars can sit to reduce conflicts of interest. Also, an institution aiming to provide global accreditation will be established. Thus, the industry's need to boost confidence and improve transparency can be met.

According to an announcement by ISS Corporate Services (ICS), the online environmental, social and governance (ESG) analytics platform MSCI ESG Manager is available. The platform will provide an integrated suite of tools for efficient understanding, analysis and management of sustainability risk across a spectrum of ESG factors. Companies will be able to determine the impact of ESG factors on reputational risk, the rating of their own environmental and sustainability practices and much more.

Read more on: http://pymnts.com/news/businesswire-feed/2012/october/15/msciesgmanagern...

Definitions of impact investment vary, but they have some features in common: impact-focused entities as target and financial return lower than market rate. Impact investing is becoming increasingly important as inequality worldwide grows. It is a means of bridging the gap between donor-reliant philanthropy and the estimated $100 trillion in opportunity currently in for-profit capital markets. Impact investing is a combination of socially conscious values and the competitive nature and demand-drive of the market.

Read more on: http://whereintheworldisdana.wordpress.com/2012/10/15/attention-impact-i...

Last month the intention of issuing one or two rounds of sukuk by the end of this year by the Egyptian government was announced. The business community has a prevailing positive attitude towards the idea. Now the Egyptian government is busy figuring out the details of the proposal. Establishing rules to govern the issuance of sukuk are to be discussed.

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

Cooperating with Malaysia's Sovereign Wealth Fund (SWF), Gatehouse Bank has executed the GBP 165 million acquisition of the law firm SJ Berwin’s offices in London. The role of Gatehouse was Investment and Shari’ah Adviser. The deal is the first real estate investment of the Malaysian client and is essential for its wider global investment strategy. According to Chief Executive Officer of Gatehouse Bank Richard Thomas, this investment is a great example of international co-operation and demonstrates how funds can be mobilised around the world complying with the principles of Shariah.

Read more on: http://www.cpifinancial.net/news/post/16102/gatehouse-advises-malaysias-...

Tunisia's ruling party has set to turning Tunisia into a regional centre for Sharia-compliant finance. However, critics claim that by putting scarce resources into the sector the economy could be harmed. People suspect that the leading motives of the governments initiatives are political rather than economic and that they mostly endeavour to win the support of voters. Even though change in policy might benefit the economy of Northern African countries after the Arab Spring by enabling access to a huge pool of Islamic investment funds from the Gulf, Tunisia faces serious political complications.

BankDhofar intends a move to introduce sharia-compliant banking services. Therefore, they plan the launch of an Islamic Banking window. The approval for the move was given at an Extraordinary General Meeting of the bank's shareholders. Also, it was agreed upon the appointment of a Sharia Supervisory Board.

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

Al Jazira Bank has registered net income of SAR 130 million during the third quarter of the year. This is an increase of 97% in comparison with the net income SAR 66 million for the same period last year. Compared to the second quarter of 2012, there is an increase of 1% from SAR 129 million. The difference between the total operating income during the third quarter this year and the same period in 2011 is 33% in favour of Q3 2012.

Read more on: http://www.cpifinancial.net/news/post/16209/al-jazira-bank-q3-profit-up-...

This month Islamic Development Bank (IDB) issued a US$500m five-year sukuk. This is a rare example of a privately-placed transaction from this institution. Market data show that the deal was priced at 30 basis points (bps) over the three-month London interbank offered rate. The issuance is prat of bank's US$6.5bn sukuk programme.

Read more on: http://www.arabianbusiness.com/islamic-development-bank-places-500m-suku...

According to an announcement by Bloomberg, Banque Saudi Fransi (BSFR) has been approved by the Saudi central bank to issue Islamic bonds worth SR2.5bn ($667m). The expected effects of the sukuk include enhancing the bank's capital base and expansion of ots lending activities.

Read more on: http://www.ameinfo.com/sama-approves-banque-saudi-fransis-667m-315206

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...

Family businesses in the Middle East and in the Gulf region face crucial challenges and therefore turn to the government for help and support. The chairman of Al Fahim Group explains that government support and backing similar to the one during the leadership of the late Shaikh Zayed Bin Sultan Al Nahyan is necessary - local companies need to be supported by ensuring them government work and purchasing their products and services.

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

A Memorandum of Understanding (MoU) has been signed by the World Bank and the Islamic Development Bank (IDB). It will provide a framework for collaboration between the two parties and support global, regional and country efforts in the development of Islamic Finance. The common objectives of the two banks include fostering, encouraging, and studying the expansion of Islamic finance worldwide. Some of the leading principles of the MoU are sharing knowledge sound practices in the Islamic financial services industry and cross fertilization of ideas.

MNRB Holdings Bhd has planned the launch of a Sukuk Mudharabah programme worth up to RM150mil. At the same time, the company has secured a RM200mil revolving credit-i facility from Standard Chartered Saadiq Bhd. According to the reinsurer, RM120mil will be used for refinancing the short-term revolving credit facility maturing on December 10th 2012. The remaining money will flow into the group's general working capital. The Sukuk programme has a five-year tenure and will be issued without a prospectus via direct placement.

Read more on: http://biz.thestar.com.my/news/story.asp?file=/2012/10/15/business/20121...

According to Sheikh Hamad bin Jassem Al-Thani, no political motivation lies behind Qatar's investments in France. The Prime Minister further said that the country does not have any great political ambitions and that everything concerning investments in France is done after extensive coordination with the French side. So far, Qatar has acquired Paris Saint-Germain football club, 3% of energy giant Total, and stakes in building firm Vinci and in media group Lagardere.

Read more on: http://www.middle-east-online.com/english/?id=54911

Qatari Barwa Bank has launched a new Islamic product which is to support SMEs - Qotof. This is a suite of financial packages which serves to assist local corporations to achieve their business objectives and, at the same time, to save money. Until now, the products included in the package had been sold separately. By putting the m together in one product, the costs can be held lower and encourage businesses to take advantage of the offer.

Read more on: http://www.cpifinancial.net/news/post/16260/barwa-bank-launches-new-isla...

The Dubai Islamic Humanitarian Foundation donated a sum of Dh5.6 million altogether which was to help 249 families during the past nine months. The money was used to cover school fees for children of 183 families, buy dialysis units and ultrasound imaging equipment for four hospitals, etc.

Read more on: http://www.khaleejtimes.com/kt-article-display-1.asp?xfile=data/nationge...