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Friday 3rd July 2009
Volume 6 Issue 26
News Briefs

Takaful News

Ratings News

IFN Reports

Termsheet

Moves
Deal Tracker
League Tables
Funds Tables
DJ Indexes
S&P Indexes
Thomson Reuters
Events Diary

Upping the pace has become the norm
A four-year unbroken run is remarkable for a publication that is solely available online, more so one that focuses on a particular aspect of financial practice that - when Islamic Finance news emerged in October 2004 - was comprehended by few and misunderstood by many. That Islamic finance has become a common term and an accepted practice in just about all continents is due, in no small measure, to the extensive and steady flow of news and information about it. more…

Dubai’s government related entities in the limelight
Dubai-based government related entities (GREs) were in the spotlight this week when Standard & Poor’s (S&P) announced the downgrade of DP World, Jebel Ali Free Zone and the Dubai Multi Commodities Centre Authority. It affirmed the ratings on DIFC Investments and Thor Asset Purchase (Cayman). The revision of the three entities comes just two months after its earlier revised ratings of these GREs, which had been placed on credit watch with negative implications. more…

Investing in the Malaysian Real Estate
In this current financial turmoil, it is interesting to note that Islamic financing may have deterred much of the mess created by the conventional banking and financial institutions. The outlook for Islamic financing is bright and it will likely take the lead in terms of providing funding for major projects as the conventional banking system re-evaluates its business model. It is highly likely that Islamic financing will be regarded as the best option in these trying times. more…

 

Interest Grows for Dinky Die Australian Fund
LM Investment Management, which recently launched the LM Australian Alif Fund, is doing something unprecedented in terms of Shariah compliant real estate funds, according to Amanie Business Solutions consultant Baiza Bain, whose task is to see that the fund’s operations are entirely in line with the Shariah. more…

The Relevance of Rating a Sukuk Part I: A Necessity?
A credit rating assesses the credit worthiness of a corporation or even a country that is based upon the history of borrowing and repayment, as well as the availability of assets and the extent of liabilities. It is widely used by investors, issuers, investment banks and even governments. In recent years, credit rating agencies have begun moving into the Islamic finance arena, with Sukuk and Islamic financial institutions being rated by western rating agencies, mainly the big three: Standard & Poor’s, Moody’s and Fitch Ratings. more…

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IFN RAPID
   

FCB Capital Investment Bank is Kenya’s first Islamic investment bank
   

Lotus Capital’s Islamic Halal Investment Fund listed on the Nigerian Stock Exchange
   

First US-based ETF by Javelin Investment Management begins trading on the NYSE
   

Shariah Capital narrows net losses as it generates its first year of fee income
   

Devon Bank’s Islamic products are now available in Washington
   

AmIslamic Bank plans to boost AmBank Group’s profit by end of 2011
   

AmInvestment Group launches new Islamic fund
   

Ansar Leasing to increase leasing portfolio to US$50 million by end of 2009
   

Maybank Islamic aims to raise US$213.5 million from its two new products
   

Industry players say Islamic finance still has a long way to go
   

Bill for Malaysian courts to adopt Shariah council rulings on Islamic finance cases
   

Asian Finance Bank to expand its loan base to US$284 million by year-end
   

Malaysia’s Islamic party calls for review of Islamic financial system
   

A one-stop trade facility for Islamic countries at Port Klang Free Zone
   

Al Rajhi Bank launches new product, Al Rajhi Savings Account-i Zamzam
   

Khazanah Nasional to raise divestments in GLCs over the next two years
   

Meezan Bank to provide cash management services to Hamdard Laboratories
   

Absence of Shariah audit a serious loophole in the Islamic financial system
   

The Islamic Solidarity Fund for Development off target by US$7.4 billion
   

Union of Arab Banks: Islamic banks will play stronger role in new financial order
   

European banks keen on running Islamic megabank’s US$3 billion IPO
   

CBB’s monthly Sukuk Al-Salam has been fully subscribed
   

Nakheel may buy back its US$3.5 billion Sukuk at discounted cash payments
   

Al Jazeera Islamic to adopt Path Solutions’ iMAL banking software
   

Five officials of Islamic Finance Company jailed for embezzlement
   

Syria interested in developing Islamic finance
   

Merger between Emaar Properties and Dubai Properties, Sama Dubai and Tatweer a test case