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Islamic sukuk, what is with it and what is against it?     Reem Finance Adopts Next Generation ITS ’ETHIX’ Islamic Banking Solution     Saudi Arabia: KSB City Fund IPO to finance SR200m project     Certified Islamic Banker in Abu Dhabi     Dubai Islamic Bank wins Credit Excellence Award at international industry conf..     Boubyan Islamic Bank Announces Net Profits of KD6.9m     Khartoum to Host Islamic Financial Products Forum Next April     KFH-Bahrain wins top honours     Saudi Arabia-Based Mediterranean & Gulf Cooperative Insurance and Reinsurance Co     Islamic markets set to be probed     Takaful market Set to grow in S. Africa and beyond     Barclays opens Islamic window in Dubai International Financial Centre     QDB holds workshop on Al Dhameen Programme     Islamic Banking Booms in Pakistan     KFH leads KBC League     Time to move to takaful 2.0     ADIB named UAE’s overall top bank in customer service     SIB reports Dh205m
net for nine months     SBP launches Islamic financing for farmers     Tamkeen and Bahrain Islamic Bank organise Private Sector Enterprise Forum 2011     Kuwait Finance House implements Data Leak Prevision to block data leakage     Al Baraka Islamic Bank Net Income Soars by 249% in the First Nine Months of 2011     West African Bankers Exposed To Islamic Banking     Asiamoney awards KFH Best Islamic Bank in Kuwait in 2011     NCB named the Best Islamic Bank 2011 in GIFA Awards     KPMG holds training on Islamic finance     Barclays’ Head of Islamic Finance Said to Leave Company     Emirates Islamic Bank launches new personal finance product     Islamic banking in Qatar     NBAD launches new investment product     NBAD launches first banking business centre in Sharjah     Emirates Islamic Bank exceeds its Emiratization plan for 2011     Islamic banking forum to be held on Jan. 23     UAE Islamic Banks Account For 30% Of Global Islamic Banking Industry     DB/Oman: IDB ready to fund Oman’s Islamic banking sector, public-private busines     Dubai's MAF profit rate guidance set, pricing due Tuesday     Turkey/Bahrain: Al Baraka’s Turkish unit to issue $200 million Sukuk     Munir: More must be done to promote Islamic banking to non-Muslims     Taking Takaful international     Tajweez Bahrain Launches Islamic Finance 360 trainings     Khaleeji Commercial Bank announces Al Waffer savings account third cycle     ADIB to expand to UK     Bahrain's Elaf Bank has sukuk mandates worth $1.5 bln     Islamic banking growing     Indonesia plans to sell $500 mln global sukuk this year-official     Methaq launches its electronic platform     Kuwait Finance House offers Jameati Account for Education     Dubai Bank receives 'Best Call Centre Performance' award     Ahlibank holds course on Islamic banking for staff     JD 21.1 million (US$29.8 million) JIB’s profits after tax at end of Sep, 2011     Al Baraka Banking Group is Expanding in the Saudi Market     ATM for the wheelchair-bound     Al Baraka Banking Group Holds its Twelfth Group Strategy Meeting in Bahrain     Islamic banking gets more customers from conventional market     Oman readying itself to welcome Islamic banking     ADIB migrates all cards to Chip and PIN technology     QFIB bags Best Investment Bank award     Dubai's Discourse on Islamic Finance in UAE and Europe     Caglayan calls for stronger economic ties among OIC states     OIC sends humanitarian mission to Mindanao     Islamic finance values hold key to innovation     Strong appetite for Islamic finance products in Oman     Net Income of AlBaraka Group Jumped to $166 Million in the First 9Months of 2011     CIBAFI & Amjad group to launch Oman Islamic Ecnomic Forum (OIEF)     Noor Islamic Bank mulls setting up Malaysia and Turkey offices     Islamic finance may double in assets by 2016     S&P REAFFIRMS ABG’S INVESTMENT GRADE RATING UNDER THE NEW RATING METHODOLOGY
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Dubai's MAF profit rate guidance set, pricing due Tuesday
Jan 31 (Reuters) - Price guidance for a debut dollar-denominated Islamic bond, or sukuk, from Dubai mall developer Majid Al Futtaim (MAF) Holding is in the range of 5.9 percent to 5.95 percent profit rate, with final pricing expected Tuesday, leads said.

Turkey/Bahrain: Al Baraka’s Turkish unit to issue $200 million Sukuk
ANKARA, 7 Rabi al-Awwal/30 Jan (IINA)-Bahraini lender Al Baraka Bank’s Turkish subsidiary will go ahead with a $200 million Islamic bond issue in the first quarter, after delaying a sale last month due to pricing concerns, the bank’s chief executive said.

Munir: More must be done to promote Islamic banking to non-Muslims
GEORGE TOWN: More must be done to promote Islamic banking to non-Muslims, Bank Muamalat chairman Tan Sri Dr Munir Abdul Majid said.

KFH leads KBC League
The Kuwait Finance House claimed top spot of the KBC Football League after beating the International Bank 4-0 in second week of competition, which also saw the National Bank Club rout the Industrial Bank 7-0.

DB/Oman: IDB ready to fund Oman’s Islamic banking sector, public-private busines
JEDDAH, 5 Rabi al-Awwal/28 Jan (IINA)- Jeddah-based Islamic Development Bank (IDB), an international financial institution based in Jeddah, Saudi Arabia, is ready to provide equity capital to Oman’s upcoming Islamic banking industry, development projects in the sultanate and private-sector businesses.

Islamic Banking Booms in Pakistan
KARACHI – Driven by faith which prohibits usury, Pakistanis are increasingly turning to Islamic banking, making it one of the fastest growing sectors in the South Asian Muslim country.

Islamic banking forum to be held on Jan. 23
MUSCAT Oman First Islamic Finance & Banking conference, organised by Al Iktissad Wal Aamal Group in collaboration with the Central Bank of Oman (CBO), will be opened on January 23 at Al Bustan Palace Hotel.

UAE Islamic Banks Account For 30% Of Global Islamic Banking Industry
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, highlighted the important role played by the Islamic banking sector in promoting economic and financial growth in the UAE. This was revealed in Abu Dhabi 2011 Report unveiled by Oxford Business Group in collaboration with ADIB.

NCB named the Best Islamic Bank 2011 in GIFA Awards
The National Commercial Bank has achieved a new prestigious title that reconfirmed its leadership position in the Islamic banking arena, following an announcement that was recently made in Oman, naming NCBNCB as the Best Islamic Bank of the year.

Khartoum to Host Islamic Financial Products Forum Next April
Khartoum - Al Bayan Centre for Islamic Financial Engineering is to organize the 4th session of the Khartoum Forum on Islamic Financial Products next April.

Strong appetite for Islamic finance products in Oman
MUSCAT: Omani consumers have expressed a strong appetite for Islamic finance with a rapid take-up of banking products expected within the first 12 months of being launched.

Islamic finance values hold key to innovation
In the aftermath of the global financial crisis which was precipitated inter alia by the conduct and perceived greed of bankers chasing profits and bonuses seemingly at any cost, there has been a revisiting of the philosophy of banking and finance especially its relationship to the public good and the real economy

Caglayan calls for stronger economic ties among OIC states
JEDDAH: Turkish Economy Minister Zafer Caglayan has called for strengthening economic and trade relations among the 57-member Organization of Islamic Cooperation (OIC) countries

OIC sends humanitarian mission to Mindanao
JEDDAH: The Organization of Islamic Cooperation (OIC) is sending a humanitarian mission to Mindanao in Philippines, to take account of the situation there following a devastating storm last week.

Dubai's Discourse on Islamic Finance in UAE and Europe
The Dubai International Financial Centre ("DIFC"), the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas, hosted "UAE and Spain: Economic and Financial Cooperation", an investment conference held in association with the Madrid Centro Financiero ("MCF").

QFIB bags Best Investment Bank award
Doha: Qatar First Investment Bank (QFIB), Qatar’s independent shariah compliant investment bank, has won the accolade of “Best Investment Bank in the GCC for 2011” amongst 11 regional players in this category.

ADIB migrates all cards to Chip and PIN technology
Abu Dhabi Islamic Bank, a top-tier Islamic financial services institution, announced today that it is on track to migrate all of its Visa Covered and Debit cards to the new generation Chip & PIN cards..

ADIB pays off $800m sukuk
Abu Dhabi Islamic Bank said it had fully paid an $800 million, five-year Islamic bond which matured on December 12, 2011.

Oman readying itself to welcome Islamic banking
Since Islamic banking and finance has become a reality in Oman following the Royal Directive, authorities have rushed to take necessary steps to establish a regulatory atmosphere for sharia compliant banking and investment.

Asiamoney awards KFH Best Islamic Bank in Kuwait in 2011
Kuwait Finance House (KFH) AGM for Investment Sector Abdul Nasser Al-Subeih received the Best Islamic Bank in Kuwait in 2011 award from Asiamoney during a celebration at Hong Kong for the second consecutive year. This new accomplishment cements KFH's status as best Islamic bank in Kuwait, and reflects its keenness to offer quality services to its clients.

Islamic banking gets more customers from conventional market
The growth from the conversion of conventional banking customers into Islamic banking is higher than that from the unbanked market, said Standard Chartered Saadiq global head of Islamic banking (consumer banking) Wasim Saifi.

Noor Islamic Bank mulls setting up Malaysia and Turkey offices
Noor Islamic Bank PJSC, a lender controlled by Dubai’s government, may expand into Malaysia and Turkey as it seeks to attract more overseas business in the $1 trillion Shariah-compliant finance industry.

Islamic finance may double in assets by 2016
The global debt crisis may help Islamic finance nearly double to $1.8 trillion in assets by 2016 as stagnant corporate lending pushes institutions to seek alternative financing to traditional methods, according to a report by Deutsche Bank.

CIBAFI & Amjad group to launch Oman Islamic Ecnomic Forum (OIEF)
The General Council For Islamic Banks & Financial Institutions (CIBAFI) and Amjad Group are cooperating to start the biggest Islamic Economic forum during 17th & 18th December 2011 in Al Bustan Palace Ritz Carlton Hotel in Sultanate of Oman.

Al Baraka Banking Group Holds its Twelfth Group Strategy Meeting in Bahrain
The Bahrain based Al Baraka Banking Group will hold its 12th Group Strategy Meeting in Bahrain on 16th and 17th November 2011. Member of the Board of Directors and President & Chief Executive of Al Baraka Banking Group, Mr. Adnan Ahmed Yousif will chair the meeting which will be attended by the President and Chief Executive Officers and General Managers of the Group’s Units around the world .

Net Income of AlBaraka Group Jumped to $166 Million in the First 9Months of 2011
The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced that it has achieved a net income of US$ 166 million in the first nine months of 2011, an increase of 13% on the net income achieved in the first nine months of 2010.

Dubai Islamic Bank wins Credit Excellence Award at international industry conf..
: Dubai Islamic Bank (DIB) announced today that its Retail Credit Department has won the "Credit Excellence Award" at the world's leading credit industry conference. Reflecting DIB's overall focus on international best practice risk management, the award, offered in the "Risk Category," was presented to the bank at a high-profile ceremony earlier this month in London.

SBP launches Islamic financing for farmers
The State Bank of Pakistan (SBP) has announced that it has developed a model Islamic product based on the concept of “Salam” to meet production finance (working capital) needs of the farming community.

West African Bankers Exposed To Islamic Banking
Member countries of the West African Institute for Financial and Economic Management (WAIFEM) are currently on a weeklong regional training course on rudiments of interest free banking under the Islamic Law.

Al Baraka Banking Group is Expanding in the Saudi Market
Al Baraka Banking Group BSC (ABG), the leading Islamic banking group based in the Kingdom of Bahrain, announced the acquisition of 60% of the issued shares of Al Tawfeek Financial Group through its subsidiary in Bahrain, Al Baraka Islamic Bank.

ADIB named UAE’s overall top bank in customer service
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic finance institution, was named UAE’s ‘Overall Top Bank in Customer Service’ at the 7th Annual Bank Benchmarking Index for service excellence by Ethos Consultancy. Over the years, ADIB has made a consistent and continuous journey towards the top rank.

Islamic banking growing
Islamic system of banking is rapidly growing in Pakistan with annualised growth rate of one percent. That is the highest growth rate of this industry in the world. “The market share of Islamic banking in Pakistan has gone up to 7 percent and, with the current annualised growth rate, it is expected to achieve 15 percent market share in the next five year”, Pervez Said, President and CEO of Burj Bank.

Indonesia plans to sell $500 mln global sukuk this year-official
The Indonesian Finance Ministry is targetting a $500 million 5-year global sukuk issuance this year, an official told reporters at an Islamic finance forum here on Monday.

Dubai Bank receives 'Best Call Centre Performance' award
Dubai Bank announced today that it has won the Ethos Consultancy award for "Best Bank - Call Centre Performance" at the 2011 Bank Benchmark Index Awards. Hisham Hammoud, Chief Operating Officer and Head of Retail of Dubai Bank, was presented with the accolade by Philip Forrest, President of The International Customer Service Institute, during UAE Customer Service Week.

KFH-Malaysia wins Best Islamic Product in Malaysian market award
Kuwait Finance House Malaysia (KFH-Malaysia) won Best Islamic Product in Malaysian market award through its gold account at the Islamic Finance Forum in Malaysia. The award was handed to the bank's CEO Jamila Jamal Al-Deen in a celebration that was attended by Malaysian Minister Nour Bin Yaqoub, in addition to other senior officials at various Islamic banks around the world.
KPMG holds training on Islamic finance
MUSCAT -- KPMG, a leading international firm offering audit, tax, and advisory services recently organised a training at Crowne Plaza Hotel, Muscat on Islamic finance products and their accounting treatment under IFRS.

S&P REAFFIRMS ABG’S INVESTMENT GRADE RATING UNDER THE NEW RATING METHODOLOGY
Al Baraka Banking Group (ABG) announced today that Standard & Poors (S&P) reaffirmed ABG’s investment grade long term counterparty credit rating of BBB- / A-3 (Short Term) with a Negative Outlook, according to a new rating methodology just introduced by S&P and applied to all institutions rated by it.

QIIB Leads Plan for Morocco Islamic Banking
International Islamic (QIIB) chairman and managing director Sheikh Dr Khalid bin Thani al-Thani, also vice chairman of the Qatari Businessmen Association, met Morocco’s new Prime Minister Abdelilah Benkirane and discussed the prospects of setting up an Islamic bank and an insurance company in the North African country

Al Baraka Islamic Bank Net Income Soars by 249% in the First Nine Months of 2011
Al Baraka Islamic Bank BSC (c), a subsidiary banking unit of Al Baraka Banking Group, announced that it continued to achieve excellent results during the first nine months of 2011. The financial statements of the Bank for the first nine months of 2011 show that net income has amounted to BD 1.36 million during the first nine months of 2011 compared to BD 388 thousand during the same period of 2010.

Tamkeen and Bahrain Islamic Bank organise Private Sector Enterprise Forum 2011
Tamkeen and Bahrain Islamic Bank organised the Private Sector Enterprise Forum 2011. The Forum was attended by a number of business owners who benefited from Tamkeen's Finance Scheme that is carried out by the joint forces of BisB and Tamkeen.

Kuwait Finance House implements Data Leak Prevision to block data leakage
Kuwait Finance House (KFH) announced that it began implementing Symantec System to prevent data leak prevision concerning datum of clients' banking cards in collaboration with Arabesque Company, in compliance with PCI-DSS.

Boubyan Islamic Bank Announces Net Profits of KD6.9m
Boubyan Bank's announced results for the first 9 months of this year (till the end of Q3) showed a net profit of KD6.9m compared to a net profit of KD4.5m for the same period of last year; growing by 53%, with KD2.5m recorded in the Q3.

SIB reports Dh205m
net for nine months
Sharjah Islamic Bank on Tuesday announced its first nine months result and said the bank earned the net profit of Dh204.7 million, compared to Dh191.6 million achieved in the same period last year with an increase of seven per cent.

ATM for the wheelchair-bound
Barwa Bank, Qatar’s newest Shariah compliant banking service provider, has designed and built the first ATM specifically for people confined to wheelchairs at Al Bidda Park.

JD 21.1 million (US$29.8 million) JIB’s profits after tax at end of Sep, 2011
Jordan Islamic bank ( JIB) announced the financial results for the third quarter of 2011. The profits achieved for ninth months ending on 30 /9/2011 reached about JD 21.1 million (US$ 29.8 million) compared to about JD 20.7 million (US$ 29.2 million) for the same period in the last year with an increase by 2 %.

Bahrain's Elaf Bank has sukuk mandates worth $1.5 bln
Bahrain-based Islamic investment bank Elaf Bank has secured sharia-compliant bond mandates worth at least $1.5 billion from three Malaysian firms, its chief executive said on Monday.

Methaq launches its electronic platform
Methaq Takaful Insurance Company has launched a public electronic insurance platform, which enables any internet customer to apply electronically for Motor insurance policies in United Arab Emirates giving them up to 10% discount on the original policy's value upon usage of credit cards for online payment.

Kuwait Finance House offers Jameati Account for Education
Kuwait Finance House (KFH) announced the launch of "Jameati Account for Higher Education", this account is a new saving & investment account specifically designed to save for higher education. The account assist parents to gradually save for their children and have a lump sum readily available to meet the higher education expenses, should it be in any part of the world.

Ahlibank holds course on Islamic banking for staff
The Sultanate’s ahlibank has organised a certification course for its existing staff to bring awareness on Sharia-compliant products and services among them.

Time to move to takaful 2.0
A conference on the future and expansion of takaful, called Takaful Rendezvous 2011, took place in Malaysia under the banner of Kuala Lumpur Islamic Finance Forum (KLIFF) from October 4 to 6. Although the industry has come far in a short period of time, more needs to be done.

Taking Takaful international
The overarching principle of Takaful is to provide a Shariah compliant safety net for the general population whilst at the same time continuing to provide for the Islamic Muamalat in what is an increasingly challenging environment. For more than two decades the Malaysian Takaful industry has seen tremendous growth, strong performance and resilience.

Tajweez Bahrain Launches Islamic Finance 360 trainings
Tajweez Advisory Co. WLL, the first Pakistani backed advisory firm in Bahrain in the niche Islamic Finance sector, has launched their Islamic Finance 360 training project at the prestigious Institute of Bankers Pakistan.

Khaleeji Commercial Bank announces Al Waffer savings account third cycle
KHCB, a Bahrain-based Islamic retail bank, announced the re-launch of the Al Waffer Savings Scheme in its third cycle with the first draw starting this month. The successful savings scheme has already seen over $2m paid out to lucky winners and is set to brighten the bank accounts of over 40 customers every month, encouraging customers to 'Save and Win'.

ADIB to expand to UK
Abu Dhabi Islamic Bank (ADIB) is planning to set up its first UK branch in London in November, after it obtains its banking license.
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