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Islamic Finance and Development, March 24-25, 2012, Austin Hall

Harvard Law School, Cambridge, Massachusetts, U.S.A.

The Tenth Harvard University Forum on Islamic Finance, hosted by Harvard Law School’s Islamic Finance Project, will be held at Austin Hall, Harvard Law School in Cambridge, Massachusetts on March 24 and 25, 2012. The theme of the conference will be “Islamic Finance and Development.”

The Harvard University Forum on Islamic Finance provides a venue for the critical and objective examination of the purposes, theory, practice, structure, and institutions of the rapidly developing field of Islamic finance. Continuing in this direction, the Tenth Forum sets the evolution of the Islamic financial industry within the context of the economic and political development of Muslim majority markets. The Forum will critically examine traditional frameworks under which Islamic Finance has developed as well as the new challenges raised by recent events, including the global financial crisis and the “Arab Spring” movements in the Middle East.

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In its 2012 Islamic Wealth Management Report illustrated by masterpieces of Islamic calligraphy, by the Chinese Muslim master Hajji Noordeen, deals with the theme “The path to corporate transformation – converting a company to Islam”.

Bank Sarasin reviews the complexities of converting a business to Islam, a topic which is rarely discussed or written about. Conversion is complicated by the need to address every aspect of a business, the lack of broadly accepted standards and regulations, and differences in the Muslim world itself. The Report, released today, is the Bank’s third on Islamic Wealth Management.

Converting a business to Islam can increase the value of a company by 18-25% due to the scarcity of genuine Islamic investments. But the conversion process is arduous, extending from the design to distribution and beyond, to how the company spends its profits. As Sarasin notes, the market potential is massive, with the global Muslim population expected to increase by 26% to 2030, to 2.2 billion, rivalling China and India in terms of market size.

GLOBAL CALLS FOR ECONOMIC JUSTICE: THE POTENTIAL OF ISLAMIC FINANCE

Date: Wednesday 22 February 2012

Time: 6.30-8pm

Venue: Hong Kong Theatre, Clement House, London School of Economics

Speakers: Mukhtar Hussain, Professor Volker Nienhaus

Chair: The Hon. Mr Justice Cranston

According to an interview with the CEO of Qatar Islamic Bank the bank signed with Banque Populaire Caisse d’Epargne an agreement to establish the first Islamic bank in France 2012.

The source is not confirmed by other media and similar news appeared in 2011 before.

The Oman First Islamic Finance & Banking Conference will bring together more 400 high level participants including governors of central banks, other industry regulators, Islamic and commercial banking leaders, fund managers, Sharia and legal experts, and world level consultants.

Further details:
http://www.iktissadevents.com/events/OIF/1

University Strassbourg is conducting a conference about Islamic retail banking for France, an opportunity to invest? The event is in French. More details below:

Nous vous invitons à participer à la *36ème Conférence PHARE* organisée par l'/Ecole de Management de Strasbourg/ et /E.M. Strasbourg Partenaires /*à l'occasion de l'ouverture de la 4ème promotion du Diplôme d'université Finance Islamique* en janvier 2012 *sur le thème :

*"La banque de détail islamique en France :
un nouveau marché à investir ? "**

Jeudi 1er Décembre 2011 à 18h00 à l'EM Strasbourg - 61, Avenue de la Forêt-Noire*/ Cette conférence sera suivie d'un cocktail offert par EM Strasbourg-Partenaires dans les locaux de l'EM Strasbourg/
*
_Animée par :_
. Michel STORCK, Professeur des universités affilié à l'EM Strasbourg, Co-responsable du Diplôme d'Université (D.U.) «Finance islamique»***

_Intervenants :_
** .** Sâmi HAZOUG, Coordinateur pédagogique du D.U. «Finance
islamique»* - EM Strasbourg
**.** Laurent WEILL, Professeur des universités affilié à l'EM Strasbourg,Co-responsable du D.U. «Finance islamique»*
**.** Le représentant d'une banque

**

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.

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

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.

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

Qatar Islamic Bank (QIBK) acting CEO Ahmad Meshari declined to comment on a report in Haberturk newspaper on March 10 that the bank plans to buy 25 % of Asya Katilim.

EIGHTH INTERNATIONAL CONFERENCE ON ISLAMIC ECONOMICS AND FINANCE

SUSTAINABLE GROWTH AND INCLUSIVE ECONOMIC DEVELOPMENT FROM AN ISLAMIC PERSPECTIVE

Doha, Qatar - December 25-27, 2011

CALL FOR PAPERS

The global economy continues to face the perennial problems of poverty, persistent youth unemployment, excessive inequalities of income and wealth, high levels of inflation, large macroeconomic and budgetary imbalances, exorbitant debt-servicing burdens, inadequate and aging public utilities and infrastructure, skyrocketing energy prices, and growing food insecurity. The reoccurring regional and global financial crises further intensify and magnify these problems particularly for the underprivileged segments of the world population. As a result, many countries are at the risk of failing to achieve the Millennium Development Goals (MDGs) set by the United Nations. However, some countries also present optimistic experiences to share, and from which useful lessons can be drawn for shaping the future economic scene in other countries.

Appeal No. 146 of 2010 by Parsoli Corporation Ltd dismissed on Jan. 12 by the Securities Appellate Tribunal (SAT) of the Securities and Exchange Board of India (SEBI). The Appeal was against a ruling by SEBI that Parsoli and its promoters/directors violated several provisions of the regulations and perpetrated “fraud of the worst kind on the shareholders of this company who were deprived of their shares and when caught, the directors compensated the shareholders by crediting shares in their demat accounts through off market transactions.”

Press Release:

On November 19, 2010 Halal Industrial Park Baltach (HIP "Baltach") was
officialy launched in Tatarstan. This is the first project in Russia, aimed
at developing of small and medium-sized businesses in the Halal industry.
The aim of the project is deep processing of agricultural products grown by
private holdings, farmers, and creation of conditions and opportunities for
small and medium-sized businesses for production of agricultural products -
and as a result increase in added value and provision of budgetary tax
revenues.

The main advantage of Halal Industrial Park "Baltach" is to optimize the
costs for small and medium-sized businesses on the maintenance of a common
infrastructure. Halal Industrial Park "Baltach" provides its residents with
an outsourcing services: distribution of finished products, consultations
on all matters, housekeeping services, engineering, logistics, transport
maintenance, accounting, legal services as well as 24 security services for
the producers - residents of the park, to concentrate on their businesses
growth. Thus, on the costs of the common scales of the project