UK and UAE complement each other on Islamic finance

uk and uae flagsDubai: On her visit to the UAE to promote London as a hub for Islamic finance, Senior Minister of State at the UK’s Foreign and Commonwealth Office Baroness Warsi welcomed Dubai’s initiative to be the global centre of Islamic economy, saying that the two countries “absolutely” complement each other in this regard.

Read more at : http://gulfnews.com/business/economy/uk-and-uae-complement-each-other-on-islamic-finance-1.1229955

source : Gulfnews

Islamic portfolios attract ethical investors in US

source : http://themalaysianreserve.com

ethical investmentEthical investment which has similarities with Islamic based investments has reached US$32 trillion (RM105.6 trillion) in size in the US and the European Union, an expert in wealth management and ethical investment said.

Meanwhile, responsible investing such as Islamic finance is probably one of the most appreciated form of investment even in the US, a prominent global investment manager specialising in the issues of ethical and Islamic investment Nicholas Kaiser said.

“There are over 1,200 signatories with US$32 trillion of assets under management and that shows the tremendous growth of assets categorised under the principles of responsible investment,” Kaiser said.

Read more at : http://themalaysianreserve.com/main/sectorial/islamic-finance/4446–islamic-portfolios-attract-ethical-investors-in-us

UAE’s conventional lenders boost Islamic banking

By Gaurav Ghose

Gulf News

The Islamic window is increasingly becoming an important part of UAE’s conventional banking landscape, with one of the leading lenders starting a new division early this year and others expanding on their existing offerings, thereby contributing an increased share to the overall financial fortunes of the group.

read more : http://gulfnews.com/business/banking/uae-s-conventional-lenders-boost-islamic-banking-1.1223794

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