IslamicFinance.de

Faith-based mutual funds typically screen out stocks of companies that violate the tenets of a given religion or religious denomination. In looking at faith-based funds, be aware that the stock-picking methods vary widely from fund to fund. And potential investors should avoid making assumptions about a fund’s screens or its stance on a moral issue based solely on its expressed religious affiliation. Faith-based funds will use positive and negative screens to focus their investment power on enterprises they deem worthwhile and financially sound. However, for the most part, the screens that faith-based funds use have a minimal impact on the overall stock choices available to them, and are therefore no excuse for poor fund performance over time.

Chip Cummins discussed in the Wall Street Journal on 23 February that the United Arab Emirates said Sunday it will spend USD 10 bn to bail out Dubai. The Emirate of Dubai financed much of its recent growth with international borrowing, and a big chunk of that debt comes due this year. The Dubai government said in a statement Sunday it would issue USD 20 bn long-term bonds, and that the first installment of USD 10 bn was fully subscribed by the U.A.E.'s central bank. The bond will be unsecured, fixed-rate paper, yielding 4% a year, with a five-year maturity.

US based Javelin Investment Management LLC plans to launch the JETS Dow Jones Islamic Market International Index Fund according to the Wall Street Journal on 8 January. Further details were not provided.

Deal Journal reported on 10 April about potential ambitions of Hong Kong based corporations to issue Sukuk. Those companies cited include the Airport Authority Hong Kong, which is wholly government-owned. The Chinese newspaper Mingpao is cited that the other firms are rail operator MTR Corp. and Hong Kong Mortgage Corp.

MTR denied it is planning an Islamic bond issue.

Source: http://blogs.wsj.com/deals/2008/04/10/hong-kong-considers-islamic-bonds/