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Tatarstan Islamic finance hub ambitions boosted - 1 views

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    LONDON: Russian republic Tatarstan's ambition to develop a Sharia-compliant market received a boost this week when the Kazan-based AK Bars Bank became the first Tatar credit to secure a murabaha loan.
Riffat Mughal

Islamic finance industry facing challenges - 0 views

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    DUBAI: Growth of the global Islamic asset management industry will likely halt or reverse this year as the industry struggles with poor sentiment in financial markets and lacklustre interest among Islamic institutional investors, said Jahangir Aka, senior executive officer at asset management firm SEI Investments.
Riffat Mughal

3-mth fiscal deficit 1.1pct of GDP - 0 views

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    KARACHI: Pakistan's fiscal deficit for the first three months of fiscal year 2011/12 was 1.1 percent of gross domestic product, a Finance Ministry official told Reuters on Wednesday.
Riffat Mughal

NBFI, MAP stress on comprehensive Shariah Compliance system - 0 views

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    ISLAMABAD: The non-bank financial institutions (NBFI) and Modaraba Association of Pakistan (MAP) Tuesday stressed the need for comprehensive system of Shariah compliance to keep intact the confidence of the stakeholders in the Islamic financial system.
Riffat Mughal

Dubai's Tamweel plans up to $500mln Sukuk in Q4 - 0 views

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    DUBAI: Islamic mortgage lender Tamweel, whose shares resumed trading in May, will issue a $300-$500 million sukuk, or Islamic bond, in the fourth quarter, the acting chief executive of the Dubai-based company said on Tuesday.
Riffat Mughal

Hafeez demands fair opportunity for Pakistani exports - 0 views

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    WASHINGTON: Finance Minister Abdul Hafeez Shaikh called for a fair opportunity for Pakistan's exports to international markets as he argued that a Pakistan-U.S. relationship centering on economic interests would endure, in contrast with fickle nature of past transactional ties.
Riffat Mughal

Global Islamic funds' assets up 7.6 pct in 2010-E&Y - 0 views

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    DUBAI: Assets held by global Islamic funds jumped 7.6 percent in 2010 to $58 billion, reflecting new money inflows and strength in fixed income, commodities and other alternative investments, Ernst & Young said on Monday.
Halal Tamweel

Malaysia's Alkhair says in the market for bank buy - 0 views

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    KUALA LUMPUR: Alkhair International Islamic Bank Malaysia is seeking central bank approval to start talks to acquire a Malaysian bank, its chief executive said on Thursday.
Halal Tamweel

International links may help Turkey's Islamic bank sector - 0 views

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    ISTANBUL: Turkey's Islamic banks could continue their recent strong growth if they can cultivate stronger ties with their international owners and create a sustainable brand image, in Standard & Poor's Ratings Services' view.
Halal Tamweel

S. Africa's Absa acquires Islamic insurance firm - 0 views

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    JOHANNESBURG: South Africa's Absa Group has acquired Takaful, the only firm offering Islamic insurance in Africa's biggest economy, for an undisclosed amount, Business Day newspaper said on Friday, citing an Absa executive.
Halal Tamweel

CBA-Oman allows Swiss Bank to offer Islamic banking services - 0 views

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    MUSCAT: Capital Market Authority (CBA) Oman permitted Sarasin-Alpen, the leading Swiss Bank to offer Islamic advisory services in Oman Sultanate.
Halal Tamweel

Saudi Aramco, Total venture to raise $1 bln sukuk - 0 views

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    RIYADH: Saudi Aramco and France's Total are set to issue up to 3.75 billion Saudi riyals ($1 bln) in Islamic bonds, or sukuk, with final pricing expected by the end of the month, lead arrangers said on Tuesday.
Halal Tamweel

Malaysia sells 4 bln rgt sukuk at avg 3.375 pct - 0 views

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    KUALA LUMPUR: Malaysia has sold 4 billion ringgit ($1.31 billion) in Islamic government bonds maturing in 2016 at an average yield of 3.375 percent, the central bank said on Wednesday.
Riffat Mughal

Islamic Microfinance Roadmap for Future - 0 views

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    Poverty is one of the fundamental problems in developing countries. Poverty rate is quite high in all Muslim countries. The main causes of poverty are low household income, low means of production, high difference in income distribution, lack of skills, and inadequate access to employment opportunities.
Riffat Mughal

Dubai's Nakheel trade creditors keen to sell Islamic bond - 0 views

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    DUBAI: Trade creditors holding the recently issued first tranche of troubled developer Nakheel's five-year Islamic bonds, or sukuk, are inviting bids for the paper, but buyers are so far limited, traders said.
Halal Tamweel

Malaysia's KLCC Property to issue 880mln rgt Islamic notes - 0 views

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    KUALA LUMPUR: Malaysia's KLCC Property Holdings Bhd said on Thursday that 2 of its units will issue an 880 million ringgit ($285.9 million) Islamic medium-term notes programme.
Riffat Mughal

Bank Alfalah Islamic Banking Branches net assets climb by 13.63pct - 0 views

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    KARACHI: Bank Alfalah Limited Pakistan (BAFL) Islamic business unaudited net assets surged by 13.63 percent during first half of the financial year 2011 (1HFY11) as it reached to Rs 5.473 billion as compared to audited net assets of Rs 4.817 billion on December 31, 2010.
Halal Tamweel

Bahrain holds 7th annual World Islamic Funds - 0 views

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    MANAMA: The 7th annual World Islamic Funds and Financial Markets Conference 2011 (WIFFMC'11) will be held in Bahrain on September 26 and 27, 2011.
Halal Tamweel

Economics, politics spur Islamic banking in Oman - 0 views

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    MUSCAT/DUBAI: For religious reasons, Omani clerk Ali al-Sulaimi does not believe in paying interest on borrowed money, but he badly wants to build a house for his family.
Halal Tamweel

First Imrooz Modaraba declares its Closing Period - 0 views

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    KARACHI: First Imrooz Modaraba has declared the "Closed Period" from September 14, 2011 to September 21, 2011 (both days inclusive) in a notice issued to Karachi Stock Exchange on Thursday.
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