Islamic banking assets to top $1.8 trillion

By CCTV correspondent Sumitra Nydoo

Islamic banking has gained some serious traction in the global banking sector in recent years. With the 2008 credit crunch that saw the demise of some of the world’s oldest financial institutions, Islamic Banking organizations have been lauded internationally for weathering the storm. This is mainly because they are not exposed to volatile markets as other conventional banks.

According to Ernst & Young’s World Islamic Banking Competitiveness Report 2013, Islamic banking assets held by commercial banks worldwide are expected to exceed $1.8-trillion this year, a 38% increase compared with $1.3-trillion in 2011. But how is Islamic banking different from conventional banking?

see more at : http://english.cntv.cn/program/newsupdate/20130504/103509.shtml

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Women empowerment through Islamic banking and finance

Dr Humayon Dar

There is no gain saying that Islamic banking and finance has provided ample opportunities for women to excel in their professional life. There is a growing band of women professionals who have and are actively contributing to the development of Islamic finance in their own right.

The role of women in Islamic finance has never been more prominent than in Malaysia. Malaysian women have not only set the pace to occupy high positions in Islamic banking but have been playing a prominent role in the overall development of Islamic finance

– See more at: http://www.freemalaysiatoday.com/category/opinion/2013/07/15/women-empowerment-through-islamic-banking-and-finance/#sthash.ESLgMrWE.dpuf

source : Free Malaysia Today

‘Islamic banking should be on national agenda’

KARACHI: Islamic banking should be part of the national agenda in order to promote a Shariah-based financial system, according to State Bank of Pakistan (SBP) Head of Islamic Banking Salimullah.

He was addressing the participants here at the Islamic Finance Conference and Exhibition on Friday.

Salimullah said that Islamic banking has been on an expansion path throughout the country, providing a viable alternative model of the economy to the world.

The SBP has planned to intensify its efforts towards creating awareness and promoting Islamic banking across the country in collaboration with all Islamic banks, he informed the participants.

Read more : http://tribune.com.pk/story/566510/islamic-banking-should-be-on-national-agenda/

source : tribune.com.pk

Islamic Finance in Europe – Occasional Paper by European Central Bank June 2013

European Central Bank (ECB) has published occasional paper about Islamic Finance in Europe in June 2013. 74 pages document contains many facts, figures and research articles about Islamic Finance in Europe. This paper will be useful for academics, students and researcher who want to do research about Islamic finance industry in Europe.

Link for the paper : http://www.ecb.europa.eu/pub/pdf/scpops/ecbocp146.pdf

Muscat Securities Market (MSM) set to launch Sharia index today

By Samuel Kuty –

MUSCAT — Islamic finance sector in Oman is expected to get further momentum with the launch of the new Sharia compliant index by the Muscat Securities Market (MSM) today.
Announced to be known as MSM Sharia Index, the benchmark will have 31 companies with 18 drawn from industrial sector followed by 10 from service sector and three from financial institutions.
According to Ahmed bin Saleh al Marhoon, Director-General of MSM, the index will contribute to attracting a new category of investors.
“The move will pave the way for introducing other Islamic financial indices that serve new financial tools, such as sukuk and Islamic investment funds. This will enhance the available Islamic investment options and market depth,” Al Marhoon said.

The index is the latest development in Oman’s Islamic financial services market.

http://main.omanobserver.om/node/169824

source : oman obsever

Lankan brokers list Shariah Compliant companies in Colombo Stock Exchange

By Duruthu Edirimuni Chandrasekera

Sri Lankan stock firms have prepared a list of Shariah Compliant securities firms in the stock market for the benefit of local and foreign investors seeking investments that follow Islamic investing principles.

CSE“This list has been designed and developed to be used as a basis of Shariah compliant equity investments at the Colombo Stock Exchange (CSE),” an analyst told the Business Times. He said that listed companies at CSE are screened against a set of Shariah principles and the list is designed to meet the requirements of both local and foreign Islamic investors.
Shariah compliant investments have been growing in popularity, due in part to investor interest in working with the Middle East, according to analysts.

Islamic finance principles embody a unique form of investment management which corresponds with the values of socially responsible investing and LS Securities (LS), a firm that has pioneered a Islamic finance securities list two years ago, says that this is an ethical and equitable mode of finance that derives its principles from the ethical and equitable mode of finance that derives its principles from the Shariah (Islamic law).

Read more at : http://www.sundaytimes.lk/130630/business-times/lankan-brokers-list-shariah-compliant-companies-in-cse-50122.html

Sunday Times.lk