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THIS WEEK'S ISSUE 1st OCTOBER
Volume 11 Issue 39
Cover Story : Reinventing the wheel: IFN Kuwait 2014 highlights encouraging new signs of domestic activity
Editor's Note : New beginnings
Rapids
Features
  Are the Cayman Islands the pre-eminent jurisdiction
     for the growing appetite for Sukuk in the US?

  Sukuk trading needs to modernize as sector expands
  The Shariah asset management puzzle: Is it all in
     the packaging?
IFN Reports
  Building on previous success: The Al-Ameen Islamic
     Principal Preservation Fund IV

  IFN Global Trendswatch
  IFN Weekly Poll: As the global financial community
     looks towards the emerging markets, could these
     countriespotentially be the prime upcoming
     destinations for Islamic finance activities?

  IFN Eurekahedge Islamic Fund Index round-up
  Sovereign Sukuk: An aerial view
  New Islamic banking laws to complement
     Azerbaijan’s banking sector

  NBAD targets Muslim wealth with Shariah compliant
     version of star conventional fund

  REDmoney partners with NASDAQ Dubai and AIMS
     to develop Islamic finance human capital pool

  Islamic finance and agriculture: An unrealized area
     of potential

  Combining the best of both worlds in expanding
     Islamic finance talent pool

  Rasameel and Ejarah Global target western markets
  Omani SME sector receives boost as Meethaq inks
     Shariah compliant deal with Zubair SEC

  Inaugural Sukuk issuance for BTMU Malaysia
Special Reports:
  The Shariah compliance status of Islamic insurance
     companies in Bangladesh

  Leasing versus Ijarah: Is there a distinction?
Case Study : Khazanah exchangeable Sukuk: Testament to a healthy track record
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  
Cover Story

Reinventing the wheel: IFN Kuwait 2014 highlights encouraging new signs of domestic activity


Editor's Note

New beginnings



IFN Reports

Building on previous success: The Al-Ameen Islamic Principal Preservation Fund IV

IFN Global Trendswatch

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

IFN Eurekahedge Islamic Fund Index round-up

Sovereign Sukuk: An aerial view

New Islamic banking laws to complement Azerbaijan’s banking sector

NBAD targets Muslim wealth with Shariah compliant version of star conventional fund

REDmoney partners with NASDAQ Dubai and AIMS to develop Islamic finance human capital pool

Islamic finance and agriculture: An unrealized area of potential

Combining the best of both worlds in expanding Islamic finance talent pool

Rasameel and Ejarah Global target western markets

Omani SME sector receives boost as Meethaq inks Shariah compliant deal with Zubair SEC

Inaugural Sukuk issuance for BTMU Malaysia


IFN Country Analysis

One man show: Islamic finance in Bosnia-Herzegovina


IFN Sector Analysis

Private banking and wealth management: Towards a sustainable growth


Shariah Pronouncement

An Islamic bank has issued a Murabahah-based documentary letter of credit (LC)


IFN Country Correspondents

The first Islamic financing guarantee company established in Indonesia

The opinion of the Economic, Social and Environmental Council on the Islamic Banking Bill

The case for an exhilarating prospect

Ziraat Bank applies for participation banking license


IFN Sector Correspondents

US real estate: Back in style


Special Reports

Leasing: ICD Ijarah companies – rationale and strategy

Risk management: Is there a need for capital charge on Shariah non-compliance risk?


Case Study

Khazanah exchangeable Sukuk: Testament to a healthy track record


Features

Are the Cayman Islands the pre-eminent jurisdiction for the growing appetite for Sukuk in the US?

Sukuk trading needs to modernize as sector expands

The Shariah asset management puzzle: Is it all in the packaging?

IFN Islamic Investor Poll 2014

IFN Weekly Poll

Will the recent spate of sovereign issuances in non-Muslim majority countries spur corporate Islamic issuances?
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
Wednesday,
1st October 2014

Luxembourg prices long-awaited Sukuk

IOI Properties Group issues Sukuk Murabahah under RM1.5 billion (US$457.32 million) Sukuk program

Highway concessionaire Kesas proposes RM735 million (US$224.09 million) Sukuk

Global Investment House executive management team rescinds resignations

Amãna Bank instigates ‘Senior Citizens Saving Month’ for October, offering additional benefits to elders

No announcements on Islamic megabank to be expected before the 8th October, according to CIMB acting CEO

RAM predicts inflation of 3.8-4% for Malaysia in 2015 on the back of GST implementation

Pakistan government plans to auction US$1 billion Sukuk this month

Islamic Dakwah Foundation Malaysia to increase Islamic financial literacy programs in 2015

Islamic Bank of Britain to become Al Rayan Bank by the end of the year

Path Solutions’ iMAL software passes AAOIFI compliance assessment

World Islamic Economic Forum to be held in Dubai this year
Tuesday,
30th September 2014

Omani SME sector receives boost as Meethaq inks Shariah compliant deal with Zubair SEC

IDB’s US$1.5 billion Sukuk listed on NASDAQ Dubai under the bank’s US$10 billion trust certificate program

Luxembourg expected to price debut EUR200 million (US$253.7 million) Sukuk today

Turkey to issue TRY1.84 billion (US$809.08 million) Sukuk on the 1st October 2014

Regional managing partner for DLA Piper in Kuwait resigns

Abu Dhabi government expresses concern regarding Employees’ Provident Fund’s right to vote in Malaysian Islamic mega bank merger

Central Bank of Oman to select five members of the country’s national Shariah Supervisory Authority

BMCE Bank reports 51% rise in profit for the first half of the year, amid plans for launch of Islamic banking subsidiary

Rating of FEC Cables’ RM130 million (US$40 million) Sukuk reaffirmed at ‘A2(s)/Stable’ by RAM based on support from majority shareholder Permodalan Nasional

RAM withdraws rating of Syarikat Borcos Shipping’s fully redeemed RM160 million (US$49.22 million) Sukuk Ijarah program

Weqaya Takaful Insurance and Reinsurance to appoint new board members at October extraordinary meeting

Sedco Capital looks to enhance asset management capabilities, launches first in-house managed Shariah compliant fund

Amlak Finance shareholders agree debt restructuring using a convertible Shariah compliant instrument worth up to AED2.1 billion (US$571.68 million)
Monday,
29th September 2014

Rasameel and Ejarah Global target western markets with US$500 million Shariah compliant fixed income investment program

State Bank of Pakistan announces coupon rate of 9.7% for government Ijarah Sukuk auctioned in March

Mubadala GE Capital considering entering the debt capital market according to reports

Abdullah AM Al-Khodari Sons Company renews SAR425 million (US$113.29 million) Shariah compliant financing with Samba Financial Group

Alizz Islamic Bank expands branch network with the opening of new Al Seeb location

Central Bank of Oman board of governors to review business performance and regulatory restrictions of Islamic banks today

Fawaz Abdulaziz Alhokair Co signs US$200 million Shariah compliant financing facility with Société Générale

Dubai Islamic Bank Pakistan signs contract with Jaffer Business Systems for new hardware

Securities Commission Malaysia approves proposed RM1 billion (US$306.08 million) Sukuk Murabahah program from Malaysia Marine and Heavy Engineering Holdings

Instead of a budget surplus as predicted earlier, Saudi Arabia risks running into a deficit in 2015 unless government spending is reduced, says IMF

Warba Bank launches website for point of sale gateway

Islamic International Rating Agency assigns international rating of ‘BB’ to Gulf Finance House

S&P affirms ratings for Qatar at ‘AA’ and ‘A-1+’ reflecting the state’s high economic wealth and strong fiscal balance sheet

MARC places Tesco Stores Malaysia’s Sukuk and conventional papers program under negative watch following profit overstatement by parent company

AIG Re-Takaful looks to do business in Pakistan and Brunei in the next year, according to CEO

Takaful Ikhlas opens Malaysia’s first cerebal palsy center

The General Insurance Association of Malaysia anticipates further measures to liberalize Malaysia’s Takaful sector to be announced in 2015 Budget

Payment for KESAS’ primary and secondary papers under RM800 million (US$245.44 million) Al Bai Bithaman Ajil Islamic debt securities will be payable on the 10th October

South Africa’s inaugural Sukuk oversubscribed by four times

Property developer WCT Holdings plans RM1.5 billion (US$460.21 million) Sukuk Murabahah program

Kuwait Finance House names Mazin Saad Al Nahedh as new CEO
Friday,
26th September 2014

REDmoney partners with NASDAQ Dubai and AIMS to develop Islamic finance human capital pool

Malaysia to issue RM3.5 billion (US$1.08 billion)-worth of Murabahah government investment facilities on the 30th September

Bank of Tokyo-Mitsubishi (Malaysia) considers seeking regulatory approval to offer ringgit-denominated Islamic financing facilities next year

Luxembourg Stock Exchange expects another Islamic listing next week following listing of Sukuk from Goldman Sachs and South Africa

SABB Takaful board accepts chairman’s resignation

Dubai Islamic Economy Development Center launching Islamic economy report in December

Emirates Islamic offers customers repayment deferment option in honor of Eid Al Adha

European Islamic Investment Bank realizes profit for the first half after negative earnings in the previous corresponding period

United Insurance Company becomes Pakistan’s first Takaful window operator with ‘Amaan’

OAC Actuaries and Consultants enters Takaful market with Islamic insurance model for its financial modelling software
Thursday,
25th September 2014

BTMU Malaysia issues world’s first yen-denominated Sukuk

Governor of Maldives Monetary Authority to deliver address at the IFN Sri Lanka Forum 2014 next month

Chair of Bangsamoro Development Authority affirms that establishment of Islamic banks will be included in development plan

Bank Asya makes steepest gain since suspension as trading resumes

Cagamas aims to transfer benefits from secondary market valuation in Malaysian government securities to private debt securities with spread-based pricing convention for Sukuk
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