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THIS WEEK'S ISSUE 17th SEPTEMBER
Volume 11 Issue 37
Cover Story : The most significant financial markets trend in history?
Editor's Note : Global market leaders gather in Dubai
Rapids
Features
  The legal and structural framework for the issuance
     of Sukuk

  Right of beneficiaries for endowment contracts:
     Fitting French life insurance to Islamic morality
Column : Daud speaks
IFN Reports
  IFN Global makes a splash in the Middle East
  FAA to launch ‘first of its kind’ standard for Islamic
     finance in 2015

  Turkey going strong — with or without Bank Asya
  Muslim expat estate planning: A new market for
     wealth management?

  IFN Global Trendswatch
  IFN Funds Round-up: Islamic funds index outperforms
  Weekly Poll: Following IILM's recent six-month Sukuk
     issuance, which would be the most preferable tenor
     for liquidity management?

  Fund Focus: AlKhair Capital diversifies portfolio with
     debut Sukuk Plus Fund

  A new kind of rating?
  Two in a day — Sovereign Sukuk market welcomes
     Hong Kong and Sharjah

  Malaysian tripartite merger: A force that could
     trigger mergers in the domestic market?

  Takaful continues growth story — but not without
     struggle

  Sovereign Sukuk: Oman and South Africa inch closer
     to their Sukuk debut
Special Report:
  The ‘raison d’être’ use of debt-based products
     in Islamic banking
Case Study : Meezan Tahaffuz Pension Fund
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  
Cover Story

The most significant financial markets trend in history?


Editor's Note

Global market leaders gather in Dubai


Column

Daud speaks


IFN Reports

IFN Global makes a splash in the Middle East

FAA to launch ‘first of its kind’ standard for Islamic finance in 2015

Turkey going strong — with or without Bank Asya

Muslim expat estate planning: A new market for wealth management?

IFN Global Trendswatch

IFN Funds Round-up: Islamic funds index outperforms

Weekly Poll: Following IILM''s recent six-month Sukuk issuance, which would be the most preferable tenor for liquidity management?

Fund Focus: AlKhair Capital diversifies portfolio with debut Sukuk Plus Fund

A new kind of rating?

Two in a day — Sovereign Sukuk market welcomes Hong Kong and Sharjah

Malaysian tripartite merger: A force that could trigger mergers in the domestic market?

Takaful continues growth story — but not without struggle

Sovereign Sukuk: Oman and South Africa inch closer to their Sukuk debut


IFN Country Analysis

Islamic finance: Offering faith and progress for Nigeria?


IFN Sector Analysis

Looking towards an encouraging close for 2014


Shariah Pronouncement

Shariah guidance has been sought by an Islamic bank in relation to pledge or mortgage against auto Murabahah liability. Also, if it is permissible, what shall be the treatment of insurance proceeds in case of total damage to the mortgaged vehicle?


IFN Country Correspondents

Large-scale projects providing impetus for Islamic finance

New PPP law stimulates Shariah involvement

UAE and Iraq hold meeting to discuss Islamic economy opportunities

Tax and Sukuk: Uncertainty looms


IFN Sector Correspondent

Meeting commercial demand with retail structures


Special Report

The ‘raison d’être’ use of debt-based products in Islamic banking


Case Study

Meezan Tahaffuz Pension Fund


Features

The legal and structural framework for the issuance of Sukuk

Right of beneficiaries for endowment contracts: Fitting French life insurance to Islamic morality


Book Excerpt

Heaven’s Bankers

IFN Islamic Investor Poll 2014

IFN Weekly Poll

As the global financial community looks towards the emerging markets, could these countries potentially be the prime and upcoming destinations for Islamic finance activities?
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

Liquidity Management Requirements for the Continued Development of the Global Islamic Market
Monday,
22nd September 2014

ICIEC and Sumitomo Mitsui Banking Corporation Europe sign MoU to strengthen collaboration in the Middle East, Africa and Asia

DIFC Investments seeks to raise US$700 million through Sukuk by the end of next month

Finansbank looking to set up asset lease company to issue Sukuk

Alizz Islamic Bank increases personal asset finance portfolio by signing agreement with Pride Home and Max Electronics

Bahra Cables procures US$200 million Musawamah trade finance facility from Standard Chartered

Abu Dhabi Islamic Bank manager charged for forgery involving million of dirhams

Emirates NBD CEO expects slower lending growth rate in the second half as corporates turn to debt capital markets

IE Business School to design a corporate MBA program for the ICD and IDB

Turkish economic counsellor in Malaysia invites Malaysian investors to participate in Turkey’s Shariah compliant banking sector

Limitless hopes to reveal revised restructuring plan of its US$1.2 billion Islamic debt soon, says CEO

Noor Bank expands product offering with two new Shariah compliant home financing solutions

Moody’s affords ‘(P)Aaa’ rating to Luxembourg’s upcoming sovereign Sukuk

RAM rates MAHCO Malaysia’s Sukuk at ‘AAA(s)/Stable’ based on unconditional guarantee extended by Retaj Al Balad Al Ameen Company

Masraf Al Barakah’s proposed RM360 million (US$111.18 million) senior Sukuk receives ‘AA1/Stable’ preliminary rating from RAM

Dubai International Financial Center records 7% growth in number of registered companies in the first six months of 2014

Industry players expect heightened interest in Hong Kong Sukuk and increased participation by local players following success of sovereign Sukuk debut
Friday,
19th September 2014

IDB raises international profile, achieves tightest pricing for US$1.5 billion global Sukuk

1MDB plans world’s largest Sukuk offering worth RM8.4 billion (US$2.6 billion)

South Africa issues US$500 million sovereign Sukuk

Mohammed Saad Dawud resigns from SABB Takaful board

Effat University introduces Saudi Arabia’s first executive master’s degree in Islamic finance

Indonesia in the midst of preparing draft regulations for Islamic pension funds

World Bank’s International Finance Corporation to acquire 15% stake in Bank Alfalah

Qatar’s Ezdan Holding working on establishing an Islamic bank in Tajikistan

RHB Research expects Bank Negara Malaysia to maintain overnight policy rate at 3.25% given drastic slowdown in exports and production

Jordan Islamic Bank makes cash contribution in support of local school’s renewable electric project

S&P assigns ‘AAA’ rating to Luxembourg’s Sukuk

RAM maintains ‘AA2’ rating on Development Bank of Kazakhstan’s RM1.5 billion (US$469.15 million) Sukuk Murabahah program

MNRB Holdings reports higher revenue driven by Takaful contributions

Sun Life Malaysia Takaful strikes bancaTakaful deal with Bank Rakyat, targets RM150 million (US$46.91 million) premium

Corporate Sukuk market to gather momentum buoyed by Malaysia’s exceptional GDP growth in the first half, says RAM
Thursday,
18th September 2014

Goldman Sachs debuts Sukuk – could this be its comeback to the Middle East and Islamic finance?

IDB to price benchmark Sukuk today

South African government launches maiden US$500 million Sukuk at a yield of 3.9%, receives US$2.2 billion in orderbook

ADIB signs MoU with Abu Dhabi University for sponsorship and academic programs

ADIB inaugurates new Business Banking Sales Center in Sharjah

Delays in sovereign Sukuk and other deals caused by political uncertainty cost Pakistan US$2.4 billion in foreign exchange reserves

Bank Nizwa opens second branch in the Al Sharqiyah Governorate

Emirates Islamic introduces five-year Wakalah investment option

Ongoing Bank Asya debacle adversely affects its Sukuk performance

Maldives Monetary Authority governor highlights Islamic finance as an area of opportunity for the country

Local Islamic banks in Brunei should focus on retail banking, says expert

Sultan of Perak agrees to become Malaysia International Islamic Financial Center’s royal patron

AK BARS Bank’s accounts prove Islamic financing is cheaper than eurobonds

Islamic International Rating Agency reaffirms ABC Islamic’s international and national scale ratings
Wednesday,
17th September 2014

Brunei’s Islamic finance sector set to capture 50% of total market share with ICD-TAIB Ijarah collaboration

REDmoney confirms IFN Global Forum 2015 to be held on the 13th and 14th September next year at Conrad, Dubai

Brunei issues its 109th Sukuk for US$100 million

Central Bank of Bahrain’s monthly Sukuk Ijarah issue oversubscribed by 335%

Goldman Sachs sets initial price thoughts for debut Sukuk at 95bps over midswaps

Nabeel Shoaib appointed acting CEO of HSBC Saudi Arabia following the departure of Walid Khoury

National Bank of Abu Dhabi names Susan Yuen as CEO for Asia

Amãna Bank completes financing deal for power plant connecting to national grid

Manfaat Tetap calls extraordinary meeting for Sukuk Mudarabah holders

Meezan Bank issues Shariah advisor report in three languages to promote transparency

Bahrain-based Investcorp acquires US real estate in North Carolina, Seattle and Florida

Islamic finance should show greater focus on inclusive-screening in order to grow, says industry specialist

Recent sovereign Sukuk issuances to act as a catalyst for corporates looking to increase the amount of Shariah funds available, according to BLME

Abu Dhabi Islamic Bank expands with three new UAE branches

Emirates REIT appoints Fosters + Partners to implement design changes at the DIFC Index Tower

Saudi Islamic banks to see growth in 2014/2015

Moody’s assigns definitive rating of ‘A3’ to Sharjah’s US$750 million sovereign Sukuk

Pressure of strong demand will prompt increased industry innovation as Sukuk face challenge of falling yields, says Noor Bank treasurer
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