IslamicFinance.de

Qatar International Islamic (QIIB) Bank has made a donation to support the programmes of the Centre for Educational Perspectives, Qatar.

A leading industry expert has predicted a huge growth potential for Qatar’s Takaful (Islamic insurance) market, estimating its annual growth at 25%.

Al Jazeera Islamic Company, which will be known as Al Jazeera Finance now on, plans to broaden its business portfolio and become a sector leader in Qatar.

QInvest will soon launch a USD 250 mn private equity fund and another sector-specific fund as well as two other funds by the third quarter of this year reported Santhosh V Perumal in Gulf Times

The Qatar Financial Centre-based firm, whose principal shareholders are Qatar Islamic Bank and Gulf Finance House, also said it would also embark on brokerage and wealth management services.

CEO is Shahzad Shahbaz.

According to a report of Global Investment House more than 100 Sukuk equivalent to more than USD 38 bn are awaiting issuance if markets recover.

DIB Capital, a 100 % subsidiary of Dubai Islamic Bank, sees the long term prospect as strong for the Sukuk market according to Nadeem Lodhi, head of capital markets and syndications. Also they are planning to launch a Sukuk fund.

Islamic International Foundation for Economics & Finance in Saudi-Arabia aims to set up a committee of senior Islamic scholars in the kingdom by 2010 to help standardise Islamic banking edicts in Saudi-Arabia. The foundation is in the early talks with Sharia scholars and hoped to “institutionalise” Islamic rulings within a year, according to Mr Al-Zamil.

Yousef Abdullah al-Zamil is the foundation`s assistant secretary general.

Pratap John in Gulf Times reported on 24 April that Al Khaliji bank will be concluding more Shariah-based transactions including co-arranging a Sukuk in Qatar after obtaining the Qatar Central Bank’s approval for an Islamic branch. The bank plans to open branches successively.

Al Khaliji chief executive officer is David Proctor.

Source: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=214610...

Pratap John reported in Gulf Times on 8 April that Singapore now provides tax neutrality between conventional and Islamic financing, such as by sales tax exemption for financing based on the Murabaha structure. MAS now allows the city state’s banks to offer Murabaha financing, investment products and deposits.

Angelina Fernandez is director of communications of the Monetary Authority of Singapore (MAS). Ong Chong Tee is deputy managing director of MAS.

Source: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=211745...