Category: Finance & Investment

Kuwaiti Official hails Mohammed bin Rashid’s initiative “Dubai: Capital of Islamic Economy”

| 06/05/2013 | Reply
Kuwaiti Official hails Mohammed bin Rashid’s initiative “Dubai: Capital of Islamic Economy”

The initiative known as “Dubai: Capital of Islamic Economy” was announced in January 2013 by Sheikh Mohammad bin Rashid. It aims at further diversifying Dubai’s economy and boosting Islamic economy.

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London and Dubai want Islamic finance crown

| 01/05/2013 | 1 Reply
London and Dubai want Islamic finance crown

Dubai set out in January its plans to become the “capital” of the Islamic industry, with global rules to enforce standards on industries as diverse as Sharia finance, halal food, pharmaceuticals and cosmetics, and charitable endowments.

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Opinion: Imams – The missing stakeholders in Islamic finance

| 12/04/2013 | Reply
Opinion: Imams – The missing stakeholders in Islamic finance

Imams may have heard of the Shariah scholars, but the opportunity for interactions with the latter is minimal, if at all, hence they do not “blind-faith” endorse products signed off by them.

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Malaysia: Nestle’s new plant to boost competitive edge

| 10/04/2013 | Reply
Malaysia: Nestle’s new plant to boost competitive edge

Nestle Malaysia is the centre of halal expertise in the world, exporting to 50 countries because Malaysia’s Halal certification by Jakim is recognised around the globe. Nestle sees Malaysia as a manufacturing hub.

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Saudi Arabia: Savola buys strategic stake in subsidiaries

| 09/04/2013 | Reply
Saudi Arabia: Savola buys strategic stake in subsidiaries

The Saudi Arabia-based food conglomerate, has entered into a deal with Dammam-based Al-Muhaidib Holding Company, a key player in the kingdom’s food distribution sector, to acquire a 10 per cent stake in its subsidiary Savola Foods Company.

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Malaysia ‘on track’ to fully develop halal industry valued at RM7.2b

| 05/04/2013 | Reply
Malaysia ‘on track’ to fully develop halal industry valued at RM7.2b

Minister for International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed said the government will push the momentum with focus on pharmaceuticals and Islamic banking.

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Malaysia: Badawi to launch $500m global halal fund

| 03/04/2013 | Reply
Malaysia: Badawi to launch $500m global halal fund

“The Halal Opportunities Fund is the first opportunity for investors and policymakers to take concrete steps toward securing the integrity of their food supply,” remarked Rushdi Siddiqui, the co-founder and managing director of Azka Capital.

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Malaysia: Abdullah reveals plans for US$500m private equity fund

| 03/04/2013 | Reply
Malaysia: Abdullah reveals plans for US$500m private equity fund

Former Prime Minister Tun Abdullah Ahmad Badawi revealed today plans for a US$500 million (RM1.5 billion) private equity fund to focus on global opportunities in the halal industry. The fund will be raised in stages over the next three years by Azka Capital.

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Saudi dairy firm Almarai sells $347m sukuk

| 02/04/2013 | Reply
Saudi dairy firm Almarai sells $347m sukuk

The issue, which has a floating interest rate, attracted orders worth SAR2.4bn from institutional investors inside Saudi Arabia, the statement said. The interest rate was not specified.

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Malaysia: HDC Expects Investments Of RM1 Billion In Halal Parks This Year

| 25/03/2013 | Reply
Malaysia:  HDC Expects Investments Of RM1 Billion In Halal Parks This Year

Currently there are 24 halal parks located throughout the country, of which 13 were awarded Halmas status. HDC accords the Halmas status to halal park operators who comply with requirements under the HDC Designated Halal Park Development Guidelines.

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Malaysia: Halal Industry Fund for SMEs to improve halal products

| 22/03/2013 | Reply
Malaysia: Halal Industry Fund for SMEs to improve halal products

SME Bank has been one of the driving forces behind Malaysian small and medium enterprises (SMEs) to tap into the growing global appetite for halal products. SME Bank recently announced another RM200 million under its Halal Industry Fund, that is available for SMEs.

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UAE: Looking for halal alpha in Dubai

| 20/03/2013 | Reply
UAE: Looking for halal alpha in Dubai

We’re talking about the halal industry: from food and pharmaceuticals to cosmetics, logistics and more — $2.1 trillion in total, with the food sector comprising about a third.

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Malaysia: Qatar ponders investment in Sarawak halal hub

| 18/03/2013 | Reply
Malaysia: Qatar ponders investment in Sarawak halal hub

Qatar sees gelatine from fish as one of the new products that is in-demand. Their representative said there is a potential growth for this market especially in medicine. The diplomat stressed that Qatar is investing heavily in agriculture and food production.

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UAE: Amaf to position Dubai as the centre of the Halal Market

| 06/03/2013 | Reply
UAE:  Amaf to position Dubai as the centre of the Halal Market

DUBAI: Awqaf and Minors Affairs Foundation(Amaf) intends to build a business model to position Dubai as a hub for the rapidly growing Islamic halal market as part of its strategic plan for 2013-2016.

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UAE: Dubai Chamber highlights investment opportunities in the food sector

| 27/02/2013 | Reply
UAE: Dubai Chamber highlights investment opportunities in the food sector

Highlighting the challenges faced by the Halal food sector, Saleh Lootah pointed at the lack of awareness about it and minimal investment in innovation, research and development, lack of options provided to the consumers as well as the competition between global and local brands.

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UAE, an agri-food hub in the region

| 26/02/2013 | Reply
UAE, an agri-food hub in the region

Gulfood 2013 was opened on Monday in Dubai with the participation of 110 countries participating, representing food producers, manufacturers and suppliers from their respective countries in a show to facilitate billions of dollars in trade for these states.

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Opinion: The great ideological struggle of the 21st Century

| 26/02/2013 | Reply
Opinion: The great ideological struggle of the 21st Century

An interview with Chandran Nair, author of Consumptionomics: Asia’s role in reshaping capitalism and saving the planet. In the interview, Chandran discusses why the battle of ideas in Asia will define our future.

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Opinion: Lessons from hiking for Islamic finance

| 18/02/2013 | Reply
Opinion: Lessons from hiking for Islamic finance

In this age, which believes that there is a short cut to everything, the greatest lesson to be learned is that the most difficult way is, in the long run, the easiest. — Henry Miller

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First Initiative to launch Islamic Banking in Uzbekistan

| 12/02/2013 | Reply
First Initiative to launch Islamic Banking in Uzbekistan

Uzbekistan is an important Central Asian country with a population of 30 million; out of them 96% population are Muslim. Uzbekistan will prove to be a large market for Islamic banking in near future and there is a huge potential for other Central Asian countries to benefit as well.

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Islamic venture capital: Crowd funding

| 10/02/2013 | Reply
Islamic venture capital: Crowd funding

Crowd funding links entrepreneurs to pitch their ideas to a network of investors, who contribute small amounts of capital. The investors may invest across a diversified portfolio of startups to minimise their overall risk.

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