Pessimism Persists in Global Property and REITs
Property and real estate investment trust (REIT) stocks continued their downward trend in the first quarter of 2008. Though the fall in the S&P/Citigroup Global Property Index at 7.4% was somewhat less than the decline in the S&P/Citigroup Global Index at 9.1%, it reflected the general pessimism towards property and REIT stocks. more…

Capital Adequacy Requirement for Real Estate Investment: A summary
In December 2007, Islamic Financial Services Board (IFSB) issued two exposure drafts; Capital Adequacy Requirements for Sukuk Securitizations and Real Estate Investment, and Guiding Principles on Governance for Islamic Collective Investment Schemes. more…

Dow Jones Islamic Market Indexes in April: Crossover Markets
Since late last year, the performance of the Dow Jones Islamic Market Indexes (DJIM) had a clear regional character. When Asian markets advanced, European and US indexes mostly retreated and vice versa, with Middle Eastern markets sprinkled among both advancing and retreating camps. more…

Sukuk Law in Indonesia
On the 9th April, 2008 the Parliament has approved the Law on Sovereign Sukuk (Undang-undang Surat Berharga Syariah Negara). Law on Sovereign Sukuk will open up a new and potentially lucrative funding source for both the government and companies in this world’s most populous Muslim nation. more…

Al Meezan Investment Takes the Lead
Al Meezan Investment Management (AMIM) was incorporated on the 27th February 1995. It is registered as a non-banking finance company with a license to perform Asset Management and Investment Advisory Services under the NBFC Rules, 2003. more…

Lessons on reTakaful
For a Takaful company to operate in full adherence to Shariah rules, traditional reinsurance should be avoided. The alternative is reTakaful. While reTakaful operates on principles of risk sharing similar to traditional reinsurance, there is one main distinction — the Takaful operator/fund must not act as an agent for the reinsurer. In other words, ceding commissions that are commonly paid by reinsurers to primary insurers are not permitted under the Shariah. more…