Major Islamic funds conference opens

Leading players, industry thought leaders and key regulators in the international Islamic investments and asset management industry will come together in Bahrain today for the start of a two-day conference.

The 9th Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2013), is taking place in strategic partnership with the Central Bank of Bahrain (CBB), organisers said.

More than 400 international industry leaders are expected to participate in critical discussions that will focus on “Broadening the Base of Investors and Issuers; and Boosting the International Growth of Islamic Capital Markets and Investments”.

The conference will open with a keynote address by CBB executive director for financial institutions supervision Abdul Rahman Mohammed Al Baker.

The recent acceleration in the Islamic funds and investments industry is set to grow further as governments and institutions in the Middle East, South East Asia and beyond increasingly seek Sharia-compliant instruments as a viable alternative for raising capital and also for diversifying their investment portfolio, he said.

read more at : http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=354082

source : Gulf-daily

The Times Islamic Finance supplement

The UK based times news paper have issued 16 pages Islamic finance supplement focusing UK Islamic finance market. The supplement has been created by Raconteur Media 16 pages analysis of different topics including the market, education, regulation and global trends. This is a good resource for those are involved in Islamic finance industry practitioner or researcher.

The major topics include :
– Challenging the banking ‘fat cats’
– Alternative funding for cash-starved UK firms
– Doing the right thing can be profitable
– Reaching out to UK customers by daring to be different
– Global rise of Islamic finance
– Public works projects need financial kick-start
– Home truths for Islamic mortgages
– Funding for affordable homes
– Finding a way to train future professionals
– Task force set to show UK is open for business
– Comparing standards is an interesting problem
– Pursuit of excellence must sweep away conflict of interest
– Islamic banking and finance: perceptions and expectations

Link for the article
http://theraconteur.co.uk/category/finance/islamic-finance/

Thomson Reuters launches Islamic Finance indicator

imagesCAIVD7UVThomson Reuters yesterday launched an Islamic Finance Development Indicator in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector development arm of the Islamic Development Bank (IDB), a press statement said yesterday.

The indicator is a numerical measure representing the overall health and growth of the Islamic finance industry worldwide.

The indicator expands the scope of Thomson Reuters’ universe of Islamic finance content, research and news analysis to develop a much needed unbiased and reliable multi-dimensional barometer of the development of the Islamic finance industry. The indicator measures five key components – quantitative development, governance, social responsibility, knowledge and awareness.

read more at : http://thepeninsulaqatar.com/business/238122-thomson-reuters-launches-islamic-finance-indicator.html

source : the peninsula qa.

Global adviser needed for Islamic finance, says IDB

The Islamic Development Bank (IDB), a Jeddah-based multilateral institution, has called for the creation of a global sharia advisory board that can offer greater uniformity for the Islamic finance industry, its president said on Thursday.

A centralised format to the supervision of sharia-compliant banking products is gaining favour across the globe, as regulators seek to standardise industry practices and improve consumer perceptions.

“IDB and IFSB (Islamic Financial Services Board) should study ways for creating globally acceptable references for the industry for the benefit of all,” IDB president Ahmad Mohamed Ali said at a conference in Kuala Lumpur.

Read more at : http://www.arabianbusiness.com/global-adviser-needed-for-islamic-finance-says-idb-501825.html?goback=.gde_147616_member_241640927

Arabian Business

Filling a Niche for Islamic Banking

By KRISTIANO ANG

When Fabiola Nava Carrera told her friends that she was going to pursue a master of business administration degree in Islamic finance at a Malaysian university, they were taken aback.

“I was very interested in going there to see what was going on, because I knew nothing about Asian and Islamic culture,” said Ms. Carrera, a 27-year-old Mexican who had previously worked in international trade. “But my friends in Mexico couldn’t believe that I wanted to go to Malaysia, because they thought that it would be too dangerous or that the culture would be too different.”

Ms. Carrera went anyway. Last year, she was one of four students, three of whom were non-Muslim, who graduated from the inaugural class of the Universiti Tun Abdul Razak’s Global Islamic Finance M.B.A. program in Kuala Lumpur.

Read more at New York Times

http://www.nytimes.com/2013/03/27/education/filling-a-niche-for-islamic-banking.html?pagewanted=all&_r=0

Mauritanian gets new Islamic bank

mauritania

A new financial institution, Mouamalat Assahiha Bank, has been established in Mauritania to operate exclusively according to the Islamic finance code.

“The new bank, with a US$20 billion capital, was set by young and successful Mauritanian business people,’ according to a statement from the bank.

The bank will target both individuals and corporate organisations, and base its operations on the highest ethics and standards of the country’s financial industry.

Islamic banking abhors loans with interest and financial speculation, and recommends risk sharing.

Mauritania currently has 18 banks, five of which operate according to the Islamic finance code.

source : http://www.afriquejet.com