Category: Finance & Investment

Turkey’s Asya Bank Seeks Malaysia’s Cooperation In Islamic Finance

| 03/11/2009 | Reply
Turkey’s Asya Bank Seeks Malaysia’s Cooperation In Islamic Finance

One of Turkey’s biggest
financial institutions, the Asya Bank, has indicated an interest in
forging cooperation with Islamic banks in Malaysia, namely Maybank Bhd
and CIMB Bank. The aim is to establish an Islamic Bank in Turkey.

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France Adjusts Laws To Allow Islamic Banking

| 14/10/2009 | Reply
France Adjusts Laws To Allow Islamic Banking

The French government
wants to make Paris the world capital of Islamic investment as it looks
for new sources of cash to battle the credit crisis. But even with the
economic downturn, the campaign is raising some hackles.

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The power of mobile money

| 24/09/2009 | Reply
The power of mobile money

With the proliferation of mobile phones all over the world, and 75% of them in the developing world, a new phenomenon has appeared: mobile money. By far the
most successful example of mobile money is M-PESA, launched in 2007 by
Safaricom of Kenya. It now has nearly 7m users—not bad for a country of
38m people, 18.3m of whom have mobile phones. M-PESA first became
popular as a way for young, male urban migrants to send money back to
their families in the countryside. It is now used to pay for everything
from school fees (no need to queue up at the bank every month to hand
over a wad of bills) to taxis (drivers like it because they are
carrying around less cash). Similar schemes are popular in the
Philippines and South Africa.

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"The financial crisis is not in the slightest bit surprising"

| 12/09/2009 | Reply
"The financial crisis is not in the slightest bit surprising"

A fascinating interview with German lawyer and philosopher AbuBakr Rieger on the root causes of the economic melt-down and the important role that Islam has to play in bringing a return to balance and sanity in the financial arenas.

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IDB Gives Nod To Brunei Leadership Role In Islamic Finance

| 07/09/2009 | Reply
IDB Gives Nod To Brunei Leadership Role In Islamic Finance

Bandar Seri Begawan – Bank Islam Brunei – Darussalam’s (BIBD)
appointment as one of the co-lead managers for the Islamic Development
Bank’s (IDB) upcoming US$1.5 billion sukuk issue gives a nod to
Brunei’s leadership role in Islamic finance and the application of
syariah-compliant instruments. The bank was mandated alongside BNP Paribas, CIMB, Deutsche Bank and
HSBC last July for the IDB’s latest sukuk offering, which will have a
three-to five-year maturity date to be decided and a price to be
announced, depending on the investor base.

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How to Make Socially Responsible Investments Pay Off

| 31/08/2009 | Reply
How to Make Socially Responsible Investments Pay Off

As the notions of CSR and Halal continue to converge, read this thought-provoking article from the CEO of Timberland. While consumers call for more socially responsible business practices, shareholders and investors still don’t seem to care. Where are the really socially responsible investors? asks Swartz. Similarly in the Halal sector, the market is expanding exponentially, the consumers are vastly under-served, and yet where is the investment money, particularly from the Muslim world? They can’t all still be looking at real estate and football clubs…or can they?

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Muslim business owners to be offered Halal insurance

| 23/08/2009 | Reply
Muslim business owners to be offered Halal insurance

UK muslims who own their own businesses will be able to take out business insurance compatible with their faith from next year. Salaam Halal Insurance, the UK’s first standalone Islamic insurance
company plans to launch a range of commercial lines products in the
first quarter of 2010.

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RP in initial talks with Kuwait, Brunei on Halal exports

| 27/07/2009 | Reply
RP in initial talks with Kuwait, Brunei on Halal exports

The Philippines has held discussions with
Kuwait and Brunei on possible investment opportunities in the domestic
Halal sector, particularly in Mindanao, which has a comparative edge
over other countries in the region because it is free of the
foot-and-mouth disease (FMD) and the avian influenza (AI) or bird flu
virus.

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Malaysia Well Positioned To Provide Islamic Banking Services In Europe

| 13/07/2009 | Reply
Malaysia Well Positioned To Provide Islamic Banking Services In Europe

Malaysia, recognised
internationally for its vast experience in Islamic finance, is well
positioned to provide services and facilities related to Islamic
banking in Europe.




“This is a potential area that we have yet to develop with Europe.
We need to move away from the thinking that Islamic banking must only
be in the Middle East or among Arab, muslim countries,” said Malaysia’s
ambassador to Brussels, Datuk Hussein Hanif.

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Halal profits with Islamic Bank of Britain

| 04/07/2009 | Reply
Halal profits with Islamic Bank of Britain

Islamic Bank of Britain has announced it has enhanced its popular
Sharia’a compliant fixed term deposit account by allowing savers to
take 18 or 24 month terms and earn halal profit as a quarterly income.

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Halal Hub Investors Waiting For Incentives

| 24/06/2009 | Reply
Halal Hub Investors Waiting For Incentives

Malaysia,– Potential investors in Selangor Halal Hub in
Pulau Indah, Port Klang are waiting for the types of incentives to be
offered by the state government.

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A Trillion Dollar Halal Business

| 20/06/2009 | Reply
A Trillion Dollar Halal Business

Riaz Haq June 17, 2009 For a long time, halal simply meant buying meat from a halal butcher, who slaughtered in accordance with Islamic principles. But the halal food market has exploded in the past decade and is now worth an estimated $632 billion annually, according to the Halal Journal, a Kuala Lumpur-based magazine. That’s […]

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European Companies Urged To Exploit Opportunities In Malaysia

| 28/04/2009 | Reply
European Companies Urged To Exploit Opportunities In Malaysia

Malaysia’s International Trade and Industry Minister Datuk Mustapa Mohamed, in a keynote address at the Seminar on Trade and Investment
Opportunities in Malaysia, said that UK importers should look into sourcing higher value-added
products from Malaysia and a wide variety of quality halal products and
services available in Malaysia.

“There is huge potential for growth in the halal market when one
considers that the wholesome, hygienic and contamination-free
principles associated with halal products and services also make them
appealing to non-Muslims,” he said.

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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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