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Category: Finance & Investment

USA: Tapping a Growing Halal Market

| 09/09/2011 | Reply
USA: Tapping a Growing Halal Market

Global Islamic finance is now considered to be a nearly $1 trillion industry, while as of last year, the worldwide halal market was worth an estimated $630 billion. The growth of these industries has spurred some investors to develop new financial products that combine bits of both, including halal food indices and equity funds.

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Malaysia: CIMB Islamic to add 19% to group loans

| 06/09/2011 | Reply
Malaysia: CIMB Islamic to add 19% to group loans

“We are looking for credible companies with credible business plans. If they fulfill all the relevant requirements, we will support them whether in the Halal industry or anywhere else,” CEO Badlisyah Abdul ghani said after the signing ceremony between Majlis Amanah Rakyat and Shapers (M) Sdn Bhd yesterday to collaborate on the Halal Fiesta (Halfest).

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Malaysia: OSK-UOB Islamic Fund Management launches Global Food Islamic Equity Fund

| 23/08/2011 | Reply
Malaysia: OSK-UOB Islamic Fund Management launches Global Food Islamic Equity Fund

The fund, which will tap into the massive potential growth of the halal food industry, has an approved fund size of 400 million units or US$67.36 million. Chief Executive Officer Md Noor A. Rahman is optimistic over the fund as it is the world’s first halal fund.

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Malaysia: Kelantan collects Zakat in Shariah money

| 19/08/2011 | Reply
Malaysia: Kelantan collects Zakat in Shariah money

Exactly one year ago, on 12 August 2010, a small north-eastern state of Malaysia made a revolutionary step that may well have an impact on the modern world history: the government of Kelantan introduced bi-metallic medium of exchange, Islamic Gold Dinar and Silver Dirham, known in the history and tradition of Islam as Shariah Money.

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Opinion: Islamic Finance industry needs consolidation

| 16/08/2011 | Reply
Opinion: Islamic Finance industry needs consolidation

Rushdi Siddiqui asks: what about consolidation among Islamic industry bodies, such as AAOIFI (Accounting and Auditing Organisation of Islamic Financial Institutions), IIRA (International Islamic Rating Agency), IIFM (International Islamic Financial Market) and CIBAFI (General Council for Islamic Banks and Financial Institutions)?

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UAE: Halal industry ‘must make strategic global acquisitions’

| 15/08/2011 | Reply
UAE: Halal industry ‘must make strategic global acquisitions’

The halal industry should be supported by Islamic finance and the two should go hand in hand. True halal is not only about a process but following Islamic rules. One way of starting a dialogue is joint Islamic finance-halal food activities and events to develop understanding and match-making of services and products first locally, regionally and internationally. That should be reinforced by the authorities.

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Opinion: Ramadan-inspired Dates Index

| 15/08/2011 | Reply
Opinion: Ramadan-inspired Dates Index

Rushdi Siddiqui speaks about the theory of purchasing power, but presents it as something relatively simple and relevant that not only attempts to capture the purchasing power of (Muslim country) consumers, but also with something that is closely linked to historical Arabia and referenced in the Qur’an.

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Oman’s first Islamic bank may open by end-2011

| 10/08/2011 | Reply
Oman’s first Islamic bank may open by end-2011

While neighbouring Gulf states have ramped up Islamic finance services in recent years, Oman stood out by refusing to participate in the industry, with its central bank head saying in 2007 “banks should be universal”. The central bank reversed that stance in May.

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USA: Dow Jones Islamic Markets Indexes in July 2011: Islamic Finance and the debt discussion

| 04/08/2011 | Reply
USA: Dow Jones Islamic Markets Indexes in July 2011: Islamic Finance and the debt discussion

The DJIM U.S. Titans 50 Index, which measures the performance of 50 Islamic halal U.S. blue chips, closed down 1.04% for July, while the conventional bellwether, the Dow Jones Industrial Average, ended the month lower by 2.18%. Meanwhile, the flight of capital into “safe havens” such as gold and the Swiss franc intensified.

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Opinion: Islamic finance, Halal industry & Shariah-compliant hotels during Ramadhan

| 01/08/2011 | Reply
Opinion: Islamic finance, Halal industry & Shariah-compliant hotels during Ramadhan

Ramadan is a period of introspection for Muslims and Islamic financial institutions to better observe Islamic teachings, appreciate our blessings and be moved to action by the burden of others.

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50 Leading Business Schools of the OIC Show Growing Local Talent Base

| 13/07/2011 | Reply
50 Leading Business Schools of the OIC Show Growing Local Talent Base

DinarStandard™, a specialized market research and business media firm, released a listing of 50 Leading Business Schools of the OIC (Organization of the Islamic Conference) member countries. The listing showcases how OIC based Business Schools are giving leading regional employers access to top talent.

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Pakistan: Analysts rate Engro Foods a ‘long-term buy’

| 07/07/2011 | Reply
Pakistan: Analysts rate Engro Foods a ‘long-term buy’

Even though they differ on whether the offering price is worth it, market analysts and institutional investors seem to agree on one thing about the Engro Foods initial public offering on the Karachi Stock Exchange: it is likely to be a good long-term investment.

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Russia: Going Islamic

| 28/06/2011 | Reply
Russia: Going Islamic

The stricter, more ethical rules of Islamic finance helped many countries avoid the worst of the 2008 economic meltdown. Now officials in the Russian republic of Tatarstan are hoping that Islamic finance can help them attract direct investment from Muslim nations around the world.

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Opinion: Innovation and Islamic finance

| 13/06/2011 | Reply
Opinion: Innovation and Islamic finance

To date, Islamic finance has reached, at best, 2-3 per cent of 1.6 billion or 48 million Muslims, while the halal industry has not only great reach, including non-Muslim countries, but deeper penetration. What can Islamic finance learn from halal industry?

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Malaysia To Continue Championing For Equitable Market

| 13/06/2011 | Reply
Malaysia To Continue Championing For Equitable Market

International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir, who is attending the WEF on East Asia in Jakarta, said Malaysia was seeking its ‘blue ocean’ with the halal industry which was not limited to the food sector but also encompassed banking, transportation, cosmetics and medicine.

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WIEF Recommends 10 Key Priorities To Realise Growth And Equity

| 10/06/2011 | Reply
WIEF Recommends 10 Key Priorities To Realise Growth And Equity

The just-ended seventh World Islamic Economic Forum (WIEF) has recommended the adoption of 10 key priorities to realise both sustained growth and equity.

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Opinion: Islamic finance, Halal industry and the media

| 06/06/2011 | Reply
Opinion: Islamic finance, Halal industry and the media

Latest thoughts from Rushdi Siddiqui, thought leader and Global Head of Islamic Finance at Thomson Reuters, on the convergence of Islamic Finance and the Halal industry.

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Bankers, regulators meet to put Islamic finance back on map

| 06/06/2011 | Reply
Bankers, regulators meet to put Islamic finance back on map

Top Islamic banking officials will meet in Singapore this week to discuss ways to revive an industry which has stalled as interest in new markets cool and legal uncertainties cloud the role of sukuk as funding tools.

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Russia: Sheikh Saleh Kamel announces plan to invest $2m in Tatarstan

| 31/05/2011 | Reply
Russia: Sheikh Saleh Kamel announces plan to invest $2m in Tatarstan

During the meeting with Linar Yakupov, the Chairman of Small and Medium-size Enterprises Development Committee of the Republic of Tatarstan Russian side presented a number of investment agriculture, construction and Halal industry development projects.

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Turkey: Developing-8 to have a stronger voice in upcoming 5 years

| 29/05/2011 | Reply
Turkey: Developing-8 to have a stronger voice in upcoming 5 years

Sunday’s Zaman met with D-8 Secretary-General Widi Pratikto to discuss current developments in global markets and the organization’s future prospects along with such issues as Islamic financing and halal food markets.

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