Islamic Banks Could Be The Answer To America’s Over-reliance On Credit And Risk

source : international business times
By Christopher Harress

HOUSE
If second quarter results are anything to go by, America’s banks are recovering nicely. Most made respectable gains and have improved investor and public confidence in America. However, many people who advocate for changes in the banking system feel that just recovering from the financial crisis is simply not enough, and that serious changes must be made to avoid future banking meltdowns.

read more at : http://www.ibtimes.com/islamic-banks-could-be-answer-americas-over-reliance-credit-risk-1393193

Kerala government gets Reserve Bank of India nod for Islamic banking : Economic Times

T Ramavarman source : economictimes.indiatimes.com

imagesKOCHI: The Kerala government has got a go-ahead from the Reserve Bank of India to launch a financial institution following the principles of Islamic finance.

Cheraman Financial Services Limited (CFSL) will be floated by Kerala State Industrial Development Corporation to function as a non-banking finance company (NBFC). A formal announcement on CFSL, the latest incarnation of Al Baraka Financial Services, was made on Saturday.

Industries minister PK Kunhalikutty and CFSL chairman P Mohamad Ali told reporters here that the firm would function as a non-banking finance company with an authorised capital of Rs 1,000 crore.

Please read more at :

http://economictimes.indiatimes.com/news/economy/finance/kerala-government-gets-reserve-bank-of-india-nod-for-islamic-banking/articleshow/21890211.cms

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

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

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.