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THIS WEEK'S ISSUE 22nd OCTOBER
Volume 11 Issue 42
Cover Story : Appetite for assets: Why aren’t there more managers in the Middle East?
Editor's Note : Searching for change
Rapids
Features
  Singapore as a hub for Islamic wealth management
  The growth of Islamic derivatives
  GCC’s low insurance penetration gives Malaysia a
     head start in Islamic insurance
IFN Reports
  Building on Sri Lanka’s growth story: Amana Candor
     Shariah Income Fund

  IFN Global Trendswatch
  IFN Weekly Poll: If the Islamic asset management
     industry were to have one dedicated ‘center’, which
     would be most suited?

  IFN Dealogic roundup
  Oil uncertainty: a launchpad for Islamic finance?
  Unpublished private placement ratings — too early
     to tell

  On a Wing and a Prayer: Breaking down barriers
  New Islamic bank for Tunisia
  Islamic finance landing opportunities in aviation world
  Qatar, Saudi Arabia and UAE spearhead growth
     opportunities in the GCC

  Solid micro and macroeconomic environment pushes
     Al Samaha Islamic Fund to the top

  Sovereign Sukuk: Back to Asia
  Meezan Bank concludes HSBC Pakistan acquisition,
     targets high net worth customer base

  Positive third quarter results for Saudi banks
Special Reports:
  Resolutions on Bai ‘Inah in Malaysia: An evolution
  Libya: Prospects for a sovereign issuance
  Credit-linked notes
Case Study : South Africa’s maiden Sukuk: A well-received Islamic paper
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  
Cover Story

Appetite for assets: Why aren’t there more managers in the Middle East?


Editor's Note

Searching for change



IFN Reports

Building on Sri Lanka’s growth story: Amana Candor Shariah Income Fund


Islamic Development Bank

In recent years Sri Lanka’s unit trust funds industry has expanded significantly on the back of government reforms to encourage economic growth. The past decade has seen the number of unit trust funds more than triple to 40 (as at end of first quarter of 2014)... more... more…

IFN Global Trendswatch

What’s going on in the world this week? IFN brings you a selection of important, relevant or downright interesting economic, global and regional events, issues and trends that have the potential to affect the Islamic finance industry. US bank stocks suffer worst one-day fall since 2012 as concerns over prolonged low interest rate environment and volatile global economy see US treasury yields plummet and Dow Jones US Bank Index declines 3.4%... more…

IFN Weekly Poll: If the Islamic asset management industry were to have one dedicated ‘center’, which would be most suited?

IFN Dealogic roundup

Oil uncertainty: a launchpad for Islamic finance?

Unpublished private placement ratings — too early to tell

On a Wing and a Prayer: Breaking down barriers

New Islamic bank for Tunisia

Islamic finance landing opportunities in aviation world

Qatar, Saudi Arabia and UAE spearhead growth opportunities in the GCC

Solid micro and macroeconomic environment pushes Al Samaha Islamic Fund to the top

Sovereign Sukuk: Back to Asia

Meezan Bank concludes HSBC Pakistan acquisition, targets high net worth customer base

Positive third quarter results for Saudi banks


IFN Country Analysis

Growing market: Islamic finance in Bangladesh


IFN Sector Analysis

Reviving the Islamic securitization market


Shariah Pronouncement

An Islamic brokerage company has raised the following query seeking Shariah guidance


IFN Country Correspondents

Completion of repayment of Qatari loans by Egypt in November

Slow growth in Nigeria’s Islamic finance industry

Tunisia looking to debut Sukuk by the end of 2014


IFN Sector Correspondent

Islamic PE and VC: Under-represented but improving


Special Reports

Resolutions on Bai ‘Inah in Malaysia: An evolution

Libya: Prospects for a sovereign issuance

Credit-linked notes


Case Study

South Africa’s maiden Sukuk: A well-received Islamic paper


Features

Singapore as a hub for Islamic wealth management

The growth of Islamic derivatives

GCC’s low insurance penetration gives Malaysia a head start in Islamic insurance

IFN Weekly Poll

Will 2015 see Bahrain re-emerge as a key Islamic finance player?
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
Tuesday,
21st October 2014

Meezan Bank concludes HSBC Pakistan acquisition, targets high net worth customer base

Guernsey Finance names Dominic Wheatley as new CEO

Former CEO of ACR Re Takaful appointed to lead Takaud Savings and Pensions

Axis REIT confirms 13% year-on-year increase in nine-month dividend payout

AAOIFI states aims for further development of Islamic finance

Barwa Bank joins as 10th primary dealer for IILM Sukuk

Alizz Islamic Bank extends branch network with new opening in Nizwa

Conversion plans yet to move forward for Commercial Bank of Kuwait

Sohar Islamic launches SME financing products to aid in boosting SME sector in Oman

Morocco to reduce budget deficit to 4.3% for 2015

Qatar Investment Authority purchases 19.9% stake in Hong Kong retailer as part of plan to expand into new markets in Asia

Moody’s amends Egypt’s outlook to stable based on signs of growth recovery and government initiatives toward fiscal consolidation

Fawaz Abdulaziz Alhokair Company posts net profit gain of 10.86% for the last six months

Masraf Al Rayan posts 16.6% leap in net profits for the first nine months of 2014

Qatar Islamic Bank announces nine-month net profit of QAR1.1 billion (US$301.83 million)

HSBC Saudi Arabia rebalances HSBC Saudi 20 ETF

IFN Sri Lanka Forum 2014 kicks off on a high note, central bank governor inaugurates event
Monday,
20th October 2014

Positive third quarter results for Saudi banks

Gulf Capital targets 10-12 companies with US$750 million private equity fund

Profit payment on Al Bayan’s RM1 billion (US$305.25 million) Sukuk Wakalah program due and payable on the 7th November

BLME Holdings names Peter Bulkeley as new company secretary to the board

IDB’s investment insurance arm appoints deputy CEO of International Islamic Trade Finance Corporation as its acting CEO

State Bank of Pakistan increases paid-up capital requirements for Islamic banking windows by 500% to PKR6 billion (US$58.25 million)

September Sukuk issuances surge 72% in September, reports KFH

Barwa Real Estate Company liquidates four subsidiaries due to weak profitability

Burgan Bank seeking approval to launch KWD21.6 million (US$74.68 million) rights issue

Shariah board of National Commercial Bank approves IPO as permissible

MARC assigns ratings to Pinnacle Tower’s Islamic facilities worth RM450 million (US$137.36 million) collectively

National Bank of Abu Dhabi’s maintains ‘AAA/P1’ financial institutions ratings

RAM places RHB Capital and Malaysia Building Society on positive watch, reinstates stable outlook on CIMB

Al Alamiya for Cooperative Insurance Company announces results for the third quarter

Abdullah Abdul Mohsin Al-Khodari and Sons posts third quarter profit of SAR15 million (US$3.99 million)

Qatar International Islamic Bank records 10% year-on-year growth in net profit for the first nine months
Friday,
17th October 2014

Central Bank of Tunisia grants approval for establishment of a new Islamic bank

State Bank of Pakistan to sell Sukuk Ijarah via Open Market Operations in order to assist Islamic banks manage liquidity

Guyana to foster closer relationship with the IDB, considers membership

IDB contributes US$60 million in funding for construction of state of the art Suriname hospital

Bangladesh Bank applies for extension of Oriental Bank Reform Scheme 2007

Fajr Capital leads group of international investors in purchasing stake in GEMS Education

Saudi Arabia will not be included into the indexes of MSCI until June 2017 at the earliest, says MSCI Middle East head

Bawan Company to expand operations using SAR550 million (US$146.6 million) in Shariah compliant funding from Saudi British Bank

Analysts confident Shariah controversies surrounding National Commercial Bank’s IPO would not severely affect investor demand

1MDB’s proposed RM8.4 billion (US$2.56 billion) Sukuk Murabahah program receives ‘AA-IS’ preliminary rating from MARC

Bank Muscat posts 2.5% increase in profit for the third quarter

Al Madina Takaful reports lower consolidated net profit for the period ending the 30th September 2014

Al Rajhi Bank continues net profit decline in the third quarter

Bank Aljazira’s net profit for the third quarter takes a 75% plunge

Bank Dhofar registers 18% hike in net profit for the third quarter

Boubyan Bank doubles nine-month profit to KWD20.2 million (US$69.84 million)

Saudi Hollandi Bank makes 6.6% gain for the third quarter of the year

MAA Takaful launches new medical product

Prudential BSN Takaful targets Muslim intending to perform Hajj with new investment-linked product
Thursday,
16th October 2014

Islamic finance landing opportunities in aviation world

Monthly Sukuk Ijarah issuance by Central Bank of Bahrain oversubscribed by 385%

Bank Negara Malaysia announces issuance plans for the second half of October

HSBC Amanah Malaysia to issue second Sukuk under RM3 billion (US$915.86 million) multi-currency program today

IILM to open auction for US$860 million short-term Sukuk on the 20th October

Bank Rakyat predicts financing growth in retail and personal sectors for 2015

Lembaga Tabung Haji increases stake in Puncak Niaga to almost 10%

Minority shareholders in Malaysia Airlines urged to accept RM1.38 billion (US$421.29 million) offer by Khazanah Nasional

Regulator approves plans for Ziraat Bank to establish participation bank

Minerva launches specialist Islamic Service Offering in response to growing client demand

IDB continues to benefit from strong shareholder support and capital base, according to report by Moody’s

Bank Nizwa launches dedicated Islamic banking services for women at all nine branches

First Gulf Bank agrees sale of 45% stake in First Gulf Financial Services

Fitch assigns ‘BBB’ rating to South Africa’s debut Sukuk

RAM reaffirms ‘AA1’ ratings on Gulf International Bank and its proposed Islamic debt program

Alizz Islamic Bank reports net loss of OMR4.43 million (US$11.45 million) for first nine months despite uptick in total income for the period

New Sukuk business to come from the corporate space, according to QInvest CEO

Egyptian Takaful Insurance – Properties distributes EGP11.4 million (US$1.59 million) in dividends to policyholders
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