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THIS WEEK'S ISSUE 21st JANUARY
Volume 12 Issue 03
Cover Story : Luxembourg landscape positive, but Islamic funds slow to grow
Editor's Note : One step forward...
Rapids
Features
  The growth of Takaful retirement products –
     the next step?

  The role of micro-Takaful in Egypt and Africa
IFN Reports
  IFN Weekly Poll: After many years of near stagnation
     in the Brunei Islamic financial sector, will 2015
     witness a resurgence?

  Corporate service providers show interest as Sukuk
     sets sail for another strong year

  Banking the smart way
  Islamic ETFs on an upward trajectory as markets
     realize their potential

  IFN Global Trendswatch
  IDB eyes Morocco’s private and public sectors
  European expats hold lower expectations for Islamic
     banks

  Sovereign Sukuk: Markets picking up
  Musharakah gaining popularity among Pakistani
     Islamic banking institutions

  Industry says goodbye to Islamic megabank, again
  It may not be smooth sailing for the global Sukuk
     market this year
Special Reports:
  A detailed look at Sri Lankan Muslims’ confidence
     levels in Islamic finance

  Arbitration of Islamic finance disputes – Part 1
Case Study : World’s first rated perpetual Sukuk: MAHB
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  
Cover Story

Luxembourg landscape positive, but Islamic funds slow to grow


Editor's Note

One step forward…


Column

Daud speaks


IFN Reports

IFN Weekly Poll: After many years of near stagnation in the Brunei Islamic financial sector, will 2015 witness a resurgence?


Islamic Development Bank

Gaining an insight into what 2015 holds, IFN zooms in and asks the industry of its opinion on Brunei’s Shariah compliant market... more…

It may not be smooth sailing for the global Sukuk market this year

2014 was a phenomenal year for the Sukuk market. Marked by the entrance of new (non-traditional) sovereign players, global Sukuk issuance last year surpassed that of 2013 at US$116.4 billion against US$111.3 billion, and analysts are expecting yet another solid year for Sukuk despite potential emerging headwinds brought on by the global economic climate...more...

Corporate service providers show interest as Sukuk sets sail for another strong year

Banking the smart way

Islamic ETFs on an upward trajectory as markets realize their potential

IFN Global Trendswatch

IDB eyes Morocco’s private and public sectors

European expats hold lower expectations for Islamic banks

Sovereign Sukuk: Markets picking up

Musharakah gaining popularity among Pakistani Islamic banking institutions

Industry says goodbye to Islamic megabank, again



IFN Country Analysis

UK & Ireland: Race to the top


IFN Sector Analysis

SMEs and entrepreneurship: Gaining traction and support from the industry


Shariah Pronouncement

A company issues Sukuk Mudarabah utilizing funds from investors on a continuing basis


IFN Country Correspondents

Shariah investments gaining popularity in India

Turkish inflation lower than expected

Ease of doing business in Brunei

Kenya continues to face Islamic finance challenges


IFN Sector Correspondent

Islamic finance industry continues to grow


Special Reports

A detailed look at Sri Lankan Muslims’ confidence levels in Islamic finance

Arbitration of Islamic finance disputes – Part 1


Case Study

World’s first rated perpetual Sukuk: MAHB


Features

The growth of Takaful retirement products – the next step?

The role of micro-Takaful in Egypt and Africa

IFN Weekly Poll

Will 2015 be the year China finally makes its move into the world of Islamic finance?
Yes
No

If there are specific questions or issues that you’d like to feature, feel free to send your queries to news@redmoneygroup.com or nabilah.annuar@redmoneygroup.com

Trade Finance
Thursday,
22nd January 2015

Malaysia sees strong Sukuk activities in 2014; government Sukuk doubles market share

KDU University College conducts early redemption of RM21.6 million (US$5.97 million) Sukuk Ijarah

PayTabs goes Islamic; appoints Shariyah Review Bureau as Shariah advisor

United Arab Bank posts AED605 million (US$164.68 million) in net profit for 2014

Boubyan Bank achieves KWD28.2 million (US$95.76 million) in profits for the 2014 financial year

National Bank of Fujairah records 28.6% growth in net profit to AED505.4 million (US$137.57 million) for 2014

First Gulf Bank appoints Giuseppe Ruggiero as head of debt capital markets

Malaysian Institute of Accountants and IBFIM host conference to discuss issues surrounding IFSA 2013

S&P updates Sukuk ratings criteria to better reflect uniqueness of Islamic securities

Islamic Insurance Company receives ‘A’ rating from Islamic International Rating Agency
Wednesday,
21st January 2015

IAFC’s inaugural acquisition, a milestone for Shariah compliant aviation financing

Zitouna Bank completes capital increase through sale of stake to IDB

IDB grants new development financings worth US$189.4 million

Ibdar Bank eyes more aviation deals in Africa and the GCC

Emirates Islamic integrates Infosys Finacle Islamic Banking solution

Bank Muamalat Malaysia commits RM100 million (US$28.09 million) to develop Waqf land

Dubai Islamic Bank announces strong demand for US$1 billion perpetual Sukuk

Ahli Bank posts QAR601.3 million (US$164.99 million) in net profit for 2014

Alkhabeer Capital collaborates with Alareen Holding Company to tap residential market

Gatehouse Bank launches commercial rental-backed security for EUR100 million (US$115.6 million) deal in Paris

Premier Bank concludes first phase of going live with iMAL Islamic Banking & Investment System

Barclays to add Malaysian Sukuk to the Barclays Global Aggregate Index on the 31st March

Egyptian Takaful Insurance secures tender to insure country’s stock exchange

ATL’s insurer financial strength rating of ‘AA-’ affirmed by MARC
Tuesday,
20th January 2015

It may not be smooth sailing for the global Sukuk market this year

Islamic funds in Pakistan registering three times the growth of conventional funds, according to Mutual Funds Association of Pakistan

International Islamic Liquidity Management Corporation issues US$860 million-worth of short-term Sukuk

Ajman Bank secures US$200 million Murabahah/Wakalah syndicated facility

Halkbank receives regulatory approval to begin Islamic banking operations

Bank Nizwa records OMR7.7 million (US$19.93 million) loss for 2014 fiscal year, preliminary unaudited financial results show

Arab National Bank posts higher net profit for 2014 at US$767 million

Saudi Enaya Cooperative Insurance Company sees 2014 net profit drop 50.89%

British High Commissioner to Malaysia to accept IFN awards for HM Treasury UK GBP200 million (US$302.7 million) sovereign Sukuk at the IFN Awards ceremony in Kuala Lumpur

Al Rajhi Bank experiences 10% growth in total assets over 2014

Bank Sohar records OMR338,000 (US$874,854) in losses for its Islamic banking business, according to unaudited financials

Al Alamiya for Cooperative Insurance Company records SAR28.11 million (US$7.48 million) in losses for 12 months ending December 2014

Deloitte appoints Aziz Ul-Haq as managing director; promotes Andrew Jeffery to managing director of infrastructure and capital projects

MARC accords Putrajaya Holdings (PJH)'s proposed Sukuk Musharakah program a preliminary rating of ‘AAAIS’ with a stable outlook
Monday,
19th January 2015

Majority of European expats have lower expectations for Islamic banks as compared to the rest of the UAE community, study finds

Qatar Islamic Bank proposes QAR2 billion (US$549 million) Tier 1 Sukuk to strengthen capital base

Central Bank of Bahrain’s 10-year Sukuk Ijarah oversubscribed by 147%

Bank Alkhair names Ayman Sejiny as group CEO

Bank Nizwa joins effort with Oman Housing Bank to offer Shariah compliant home financing solutions

General Council for Islamic Banks and Financial Institutions submits feedback to Islamic Financial Services Board on new standard

Alizz Islamic Bank suffers OMR5.5 million (US$14.24 million) net loss in 2014

Bank AlJazira makes 12.14% loss for the 2014 fiscal year

Bank Dhofar records OMR40.45 million (US$104.79 million) in consolidated net profit

Qatar Islamic Bank reports 20% growth in profit in 2014

Emirates Islamic concludes 2014 with 161% increase in net profit to AED364 million (US$99.07 million)

Mashreq sees healthy expansion of Islamic deposit base and Islamic financing activities in 2014

Bank Muscat registers higher Islamic financing receivables in 2014 at OMR400 million (US$1.03 billion)

Family Bank enters agreement with Tamkeen to provide Islamic microfinance solutions to micro-enterprises
Friday,
16th January 2015

Morningstar assigns five-star overall rating to US’s first Halal fixed income fund

Strong demand prompts Indonesian government to upsize Sukuk issuance to IDR6.8 trillion (US$535.16 million)

Bank Rakyat provides new financing scheme for country’s flood victims

Hong Leong Islamic Bank launches new concept branch; first in Malaysia

Franco-American Alliance for Islamic Finance and the African Islamic Economic Foundation sign MoU to promote Islamic investments in African nations

Deutsche Börse and Qatar Stock Exchange discuss potential collaboration in capital markets development and technical cooperation

Ithmaar Bank partners with WellMed Clinic to provide value-added services to customers

SapuraKencana Petroleum signs US$2.3 billion facility; largest Islamic transaction in the country to date

Transformation of Baku into regional center of Islamic finance underway as discussions resume in Moscow next week

Islamic Holding Group reveals higher net profit for 2014 at QAR16 million (US$4.39 million)

Moody’s and RAM revise outlook on RHB Bank’s ratings to stable from positive following cancellation of merger

Asya Katilim Bankasi’s ratings receive negative outlook due to asset quality weakness and high cost structure

National Commercial Bank concludes 2014 with 15.26% growth in total assets
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