Category: Finance & Investment

Saudi-Phillipine food production joint ventures in the cards

| 27/04/2009 | Reply
Saudi-Phillipine food production joint ventures in the cards

Saudi Arabia’s desire to secure its sources of food for its
citizens by establishing overseas joint ventures in food production has
received a positive response from a Philippine trade delegation.

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BICB wins ‘Brunei Deal of the Year’ award

| 30/03/2009 | Reply
BICB wins ‘Brunei Deal of the Year’ award

The Brunei Investment and Commercial Bank (BICB) recently received an award for ‘Brunei Deal of the
Year’ from the Islamic Finance News at a ceremony that was held in Kuala Lumpur.

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Abu Dhabi Investment House Seeks Brunei Opportunities

| 27/03/2009 | Reply
Abu Dhabi Investment House Seeks Brunei Opportunities

Abu Dhabi Investment House (ADM) is in talks with Brunei Darussalam
government agencies to explore opportunities of establishing Syariah-compliant financial investments in the
Sultanate, including in agriculture, pharmaceuticals and clean energy.

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The Vatican offered Islamic finance principles to Western banks as a solution for worldwide economic crisis.

| 16/03/2009 | Reply
The Vatican offered Islamic finance principles to Western banks as a solution for worldwide economic crisis.

Daily Vatican newspaper, ‘L’Osservatore Romano, reported that Islamic banking system
may help to overcome global crisis, Turkish media reported.

The Vatican
said banks should look at the ethical rules of Islamic finance to restore
confidence amongst their clients at a time of global economic crisis.

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Tanjung Manis Sets To Be Malaysia’s Largest Halal Hub

| 06/03/2009 | Reply
Tanjung Manis Sets To Be Malaysia’s Largest Halal Hub

At the launch of the Tanjung Manis Halal Hub last Feb 18 Prime Minister
Datuk Seri Abdullah Ahmad Badawi, witnessed the signing of agreement
between 11 companies, including six from Taiwan, and Sarawak Timber
Industry Development Corporation (STIDC) worth close to RM4.0 billion. With the launch, the halal hub is expected to diversify the existing economic activities at Tanjung Manis.

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Islamic finance accelerates into motor policies

| 16/02/2009 | Reply
Islamic finance accelerates into motor policies

First it was Islamic
current accounts, then mortgages and investment funds, and now we have
a motor insurance product that conforms to Islamic law, or sharia. This
move will be welcomed by many of the two million British Muslims
looking to buy insurance cover aligned with their faith. But it could
also prove popular for non-Muslims who find the notion of an ethical or
co-operative insurance product appealing.

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Brunei sells 148 mln in local currency Islamic bonds

| 07/01/2009 | Reply
Brunei sells 148 mln in local currency Islamic bonds

Brunei has sold B$148
million ($100.7 million) of short-term Islamic bonds, bringing
total government issuance to B$1.3 billion to date.

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Huge potential for SMEs in halal industry

| 25/12/2008 | Reply
Huge potential for SMEs in halal industry

Malaysia continues to develop its plans for the Halal sector. Steered by the Halal Industry Development Corporation HDC, the new Masterplan, with plans through to 2020, has been completed and its implementation is getting underway. Smart banks are also looking for a piece of the action.

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Thai Islamic Bank Gives 1.2 Billion Baht in Loans For Halal Manufacturers

| 22/11/2008 | Reply
Thai Islamic Bank Gives 1.2 Billion Baht in Loans For Halal Manufacturers

BANGKOK, — The Islamic Bank of
Thailand (IBT) plans to lend 1.2 billion baht in 2009 to promote halal
food and product manufacturings while exploring sukuk or Islamic bonds
through “petro money” from Middle East investors. Its
chairman Professor Dr Somchai Virunhaphol said the fund for halal
manufacturers would then be doubled in two years as there are vast
potential to be tapped.

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Islamic Banking Gaining Strength, Says Surin Pitsuwan

| 22/11/2008 | Reply
Islamic Banking Gaining Strength, Says Surin Pitsuwan

BANGKOK — The Islamic financing system is expected to
grow faster than the previous 15 to 20 percent annually as world
economies look at it as an alternative to western models which is in
turmoil now, said Asean Secretary-General Surin Pitsuwan.
Surin said while the world financial system was in turmoil and sending
shock waves across the globe, trend in Islamic banking and halal food
industry was encouraging and positive.

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Thailand B2.4bn for halal lending

| 22/11/2008 | Reply
Thailand B2.4bn for halal lending

The Islamic Bank of Thailand will set aside 2.4 billion baht next
year to help finance halal food businesses, according to managing
director Dheerasak Suwannayos.

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Zahid Urges Malaysian Firms to Expand Into OIC Countries

| 20/11/2008 | Reply
Zahid Urges Malaysian Firms to Expand Into OIC Countries

Malaysia: Minister
in the Prime Minister’s Department Datuk Seri Dr Ahmad Zahid Hamidi
Wednesday urged local firms involved in Islamic based businesses to
expand their business to the member countries of the Organisation of
Islamic Conference (OIC).
The
Islamic business and financial market offers an alternative venue for
Malaysian companies in the midst of the challenges brought by the
current global financial crisis, he said.

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Islamic finance in focus at Abu Dhabi event – Billion dollar sector to be discussed during forum at Halal World Expo

| 04/11/2008 | Reply
Islamic finance in focus at Abu Dhabi event – Billion dollar sector to be discussed during forum at Halal World Expo

A
dedicated forum at next month’s Halal World Expo is throwing the
spotlight on the billion dollar Islamic finance sector in a move which
will be of great interest to UAE businesses and potential investors.

The GCC’s leading event dedicated to the global Halal industry,
which takes place from 11-13 November 2008 at the Abu Dhabi National
Exhibition Centre, organised by IIR Middle East, is set to feature
three illuminating seminars on Shari’ah compliant banking and financial
services.

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Introducing Brunei to foreign investors

| 26/10/2008 | Reply
Introducing Brunei to foreign investors

The Ministry of Industry and Primary Resources (MIPR) Brunei yesterday held “Business Investment Seminar and
Business Networking” at Nanning International Convention and Exhibition Centre in Nanning, China to
promote business and investment opportunities in tourism, agribusiness, halal industry, and information and
communication technology (ICT) among foreign investors.

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Islamic Funds

| 08/10/2008 | Reply
Islamic Funds

With all sorts of ethically ‘challenged’ companies
deliberately screened out, it comes as no surprise to learn that some
non-Muslim socially-responsible (SRI) investors have started taking
these funds seriously. Many Christian investors, for example, would
probably share many, if not most, of the same ethical views as Islamic
investors.

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Kyrgyzstan Keen To Learn Malaysia’s Model Of Islamic Economy

| 29/06/2008 | Reply
Kyrgyzstan Keen To Learn Malaysia’s Model Of Islamic Economy

The Kyrgyzstan government plans
to introduce takaful (Islamic insurance), Islamic bond and production
of halal products after having introduced Islamic banking
one-and-a-half years ago, said Shamil M. Murtazaliev, advisor to the
president of Kyrgyz Republic.

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Indian classical scholars sign up for courses in finance

| 16/06/2008 | Reply
Indian classical scholars sign up for courses in finance

The recent interest amongst Muslims in halal investments, has
prompted several classical scholars to sign up for courses in finance,
accounts and even law in India. 

One only hopes that Muslim businessmen will similarly look at the potential for jobs and career opportunities in the Halal industry, including Halal financing for companies producing Halal products to further develop the shariah compliance of the Halal market.

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U.S And Malaysian Banks Can Join Forces In Islamic Financial Services

| 20/05/2008 | Reply
U.S And Malaysian Banks Can Join Forces In Islamic Financial Services

International Trade and Industry Minister
Tan Sri Muhyiddin Yassin called on American bankers Monday to join
forces with their Malaysian counterparts in the area of Islamic
financial services.

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