IslamicFinance.de

CIMB-Principal Asset Management (CIMB-Principal) announced the launch of its CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds. The fund offers Malaysian retail and corporate investors an opportunity to tap into the growth prospects of global equities. It is currently available to investors in MYR with a minimum initial investment of RM500.The fund will invest a minimum of 70% and up to a maximum of 98% of its NAV in syariah-compliant global equities and equities-related securities. 28% of the Fund will be invested in sukuk, syariah-compliant money market instruments and Islamic Deposits. CIMB-Principal CEO Munirah Khairuddin says global equity markets continue to be in a sweet spot with strong earnings in both emerging and developed markets. She hopes to meet the target fund size of RM300 million in assets under management within a year of the fund’s inception.

The Islamic banking division of OSK Investment Bank Bhd (OSKIB) is taking action to unlock value in the Islamic finance realm as well as to address the challenges currently faced in the segment. The Islamic banking segment in Malaysia makes up 18% of of the overall banking sector’s RM1.78 trillion total assets as at the end of last year. The measures of OSKIB include shifting of focus on business development into more Islamic capital market activities.

Read more on: http://www.theborneopost.com/2012/10/22/oskib-aims-to-unlock-value-in-is...

Malaysia was invited by Sudan in order to provide support in the country's efforts to set up Islamic banks on their territory. It shall help Sudan to facilitate trade and to ease investment financing between both countries. This move is considered as a sign of recognition of Malaysia as Islamic financial centre.