Mahathir urges countries to achieve 50% market share for Islamic banking

Even in retirement he remains the most popular politician to the Muslim “man-and-woman-in-the-street”. Now as an elder statesman, Mahathir Mohamed, the former Malaysian prime minister, continues to give advice whether on the global financial crisis, on the future of the Islamic banking industry, on the Islamic gold dinar, on the future of US dollar as an international trading currency, and on his celebrated spat with arch speculator and fund manager, George Soros, in the aftermath of the Asian financial crisis in 1998.

In an exclusive interview, Mahathir, albeit a bit more frail now, was his usual outspoken self, and he had a clear and present message for the Islamic banking industry – learn from the mistakes of conventional banking if the industry is to avoid the same fate. There definitely is a future for Islamic finance. It would not be spectacular; it would not be the cause of booms and busts.

Source : Arab News
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Application for the Khazanah-Oxford Centre for Islamic Studies

The Khazanah-Oxford Centre for Islamic Studies Merdeka Scholarships, established to mark the 50th anniversary of Malaysia’s independence, are intended to enable outstanding Malaysian students to undertake postgraduate study at the University of Oxford.

Subject areas may be drawn from a range of fields. Candidates are required to demonstrate a high level of academic achievement, and how their study will make a contribution to the future needs of Malaysia.

Awards will include University and College fees, accommodation and subsistence allowances, and return air fares. Awards are renewable annually through the duration of the programme of study.

for further detail please contact

http://www.khazanah.com.my/scholarship.htm/

ISLAMIC FINANCE FIRM OPENS ITS KANNUR INDIA BRANCH

The Kochi-based Alternative Investments and Credits Ltd. (AICL), an Islamic finance company, started its operation in Kannur on Dec. 21. AICL officials said that it was the only Reserve Bank of India-approved non-banking finance company operating on Islamic finance principles. AICL’s operation in Kannur was formally inaugurated by H. Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance, New Delhi. AICL director T. Arifali presided over the function. Earlier, Kannur University Vice Chancellor P.K. Michael Tharakan inaugurated a seminar on ‘Understanding Islamic finance’.

source : Radiance weeekly