IslamicFinance.de

Gambia shares experience with Nigeria regarding the preparations to developing Islamic banking in Nigeria. It happens rarely that 'little brother' Gambia gives advices to 'big brother' Nigeria, but there is no doubt about Gambia's courageous and proactive leadership by introducing the law for Islamic finance, from which Nigeria can draw upon.

See more under: http://allafrica.com/stories/201210021083.html

"Tackling the Profitability Chalange: Fresh Thinking for Islamic and Cooperative Insurance in the Middle East" ist the name of the Middle East Takaful Forum 2012 that is going to be held on the October 17th and 18th, under the patronage of the Central Bank of Bahrain. More than 200 top decision-makers will discuss the key challenges of Middle East Takaful operators and conditions of achieving sustainable profitability in the insurance sector.

See more under: http://www.cpifinancial.net/news/post/15966/overcoming-profitability-cha...

MENA Private Equity Association will collaborate with the Hawkamah Institute for Corporate Governance in order to advancing corporate governance within the Private Equity sector. The main scope of the cooperation should be to re-assess the current governance practices in the private equity industry and to draw up a policy brief.

See more under: http://www.complinet.com/global/news/news/article.html?ref=158952

Ithmaar Banks merger talks with its associate, First Leasing Bank, has moved on. The boards of both banks approved the plans as well as the kingdom's banking regulator the central bank had given its initial approval for merger.

See more under: http://www.ameinfo.com/ithmaar-set-close-merger-deal-leasing-313763

Turkish Treasury explores opportunities for a possible Sukuk issuance in value of $1.5 billion that was initially valued at $1 billion. The demand for it is high as the overall market conditions became increasingly challenging. The Turkish Treasury's entrance to the sukuk market shall provide a trustable benchmark to the sector and help boost private issuance around the Gulf and worldwide.

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

The Asian Development Bank (ADB) and Islamic Financial Services Board (IFSB) shall cooperate in the promoting of Islamic finance in common developing member countries. The cooperation should be based on joint technical assistance and/or policy-based work in member countries.

See more under: http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu...

Safa Investment Services is going to launch world's first Islamic global asset management company due to growing demand from wealthy Muslim investors that are seeking a dedicated asset manager to look at their investments.

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

The Islamic Development Bank (IDB) plans to set up first Islamic company in Kazakhstan in 2013. The object of business shall be: renewable energy and agricultural projects. The reason for that is the lack of agricultural resources in Gulf countries. On the contrary, countries in Central Asia and Africa have the resources but not the capital, which is why IDB considers opportunities for Islamic banking in Kazakhstan, which has a resource-driven economy that is the largest in Central Asia.

See more under: http://www.reuters.com/article/2012/10/01/islamic-finance-kazakhstan-idU...

An Egyptian professor of Islamic studies claims, it is allowed for Muslims to borrow non Shariah-compliant options, if there is an extreme need. However there are ultra-orthodox voices saying that such loans are violating Islam's beliefs. In their opinion Islamic countries should decry loans from International Monetary Fund and search other ways of covering debt.

See more under: http://www.bloomberg.com/news/2012-10-01/imf-aid-cheaper-than-aa-debt-wo...

Dubai capital market seems to be lively again after two new Islamic bonds in value of $500m respectively $650m has been issued this year. After a long period of uncertainity, this should be a turning point for secondary market as well as key driver for region's capital markets in order to get back on the desired growth path.

See more under: http://www.arabianbusiness.com/fear-of-floating-raising-finance-in-gulf-...

Tunisian central bank intends to issue Islamic bonds early next year, according to the central bank governor. Finance ministry, religious affairs ministry and the central bank have set up committees that are currently working on an Islamic finance law in order to strengthen the Islamic banking in the country.

See more under: http://www.english.globalarabnetwork.com/2012100112595/Finance/central-b...

The industry's first Islamic Euro Nostro Account has recently been launched by Standard Chartered Bank. It will allow Islamic banks across the world to earn profits on their account balances, respecting the general rules of Murabaha. Bank Alfalah Limited from Pakistan was the first bank which has signed an agreement with Standard Chartered Bank.

See more under: http://www.thenewstribe.com/2012/10/02/standard-chartered-bank-launches-...

TBLI Conference presentations are from now accessible online to all. Just login or register and you will get access to thousends of presentations, including audio, video and power point.

See more under: http://blog.tbli.org/?p=1216

The examination of the status of Millennium Development Goals (MDGs) in the Muslim countries will be the main topic of the conference "Linking Musim Giving to MDGs" that will took place on November 2nd at UN Headquarter in New York. The event presents an opportunity to discuss the status of MDGs in Muslim countries as well as to exchange ideas on the potentials for developing strategies to bridge the financial resource gaps in Musim world.

Event Tags: Millenium Development Goals, MDGs, Poverty, Food Deficit Countries, United Nations, Solidarity, Islamic countries

See program on: http://www.thewcmp.org/img/downloads/pdf/LinkingMuslimGivingtoMDGsbackgr...

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_...

Malaysian government plans to introduce tax exemption for companies with Tun Razak Exchange (or TRX) status. It is considered to be an important move in government's efforts to position Malaysia as a central investment destination for foreign investors. According to analysts, the development of TRX financial hub should attract about 250 international financial services companies and offer 40.000 new job opportunities.

See more under: http://www.bernama.com.my/bernama/v6/newsbusiness.php?id=698332

According to a study of Ernst and Young, there will be three times higher demand for Islamic bonds (or Sukuk) till 2017. It is also assumed that this year could be the biggest year for Sukuk as the supply is close to demand. The Continuing standardization by Islamic finance organizations should help Sukuk securities to grow in long-term, analysts says.

See more under: http://www.globaltimes.cn/content/731907.shtml

Contact Group on Islamic Banking had used the 12th Bank of Uganda annual eid party as an opportunity to discuss with bank governor of the Uganda's central bank the introduction of Islamic banking. Uganda's Muslims believes that the country should introduce other forms of banking systems due to their unique characteristics, especially Islamic financing, which is putting emphasis on worthiness, fairness and profitability.

See more under: http://www.observer.ug/index.php?option=com_content&view=article&id=2088...

IDB's president, Mohamed Ali, have urged for global solidarity in fight against polio. The bank is working on new financial package for the government of Pakistan that should help to finance polio eradicatoin activities in the country. IDB intends to provide similar grant to Afganistan that is same as Pakistan highly affected by this horrible disease.

See more under: http://www.arabnews.com/idb-joins-call-polio-eradication

Deutsche Bank claims the GCC bond sales will remain strong as companies in these countries look for alternative financial sources as those of European banks that are continuously declining. CEO for the Middle East believes that the GCC region relies a lot on bank loans, which are going to be less and less accessible.

See more under: http://www.bloomberg.com/news/2012-09-30/deutsche-bank-s-aram-says-gulf-...