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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

With the merger between CIMB. MBSB and RHB expected imminently, the prospect of an Islamic Mega bank finally draws nearer. But does the industry actually need this?
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
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

More non-US dollar international issues are needed for the ongoing growth of the market, says Franklin Templeton chief investment officer
Tuesday,
16th September 2014

IFN Global makes a splash in the Middle East

Rasmala Investment Bank establishes GCC Islamic Equity Income fund in Luxembourg

Agaoglu Group announces plans to issue US$300 million Sukuk to attract attention of international investors

AAOIFI names Dr Hamed Hassan Merah as new secretary-general

S&P appoints Mohamed Damak global head of Islamic finance

Egypt anticipates US$425 million in infrastructure financing from the IDB

Amãna Bank relocates Akkaraipattu branch for easier customer access

Corporate Sukuk and bond issuances take top place in the GCC for the first half of the year, according to report

New regulations make issuing Sukuk in the UAE faster and more accessible

Sharjah Islamic Bank collaborates with MasterCard to support UAE cancer patients

South Africa sets tenor of debut Sukuk at 5.75 years

European Commission releases draft on liquidity coverage ratio affording more flexibility to Sukuk utilization

HDG Mansur opposes liquidation requests, says making significant progress towards claims settlement

Al Madina Takaful expands product suite with new automotive package for luxury and premium vehicles

National Takaful Company sells 60.53% stake to Omani group for AED113.5 million (US$30.89 million)

Fitch upgrades viability rating of Al Hilal Bank to ‘bb’ based on the bank’s steady growth and health asset quality
Monday,
15th September 2014

Abu Dhabi Islamic Bank-Egypt leads in terms of ROE and ROA for the first quarter

Bank of Tokyo-Mitsubishi Malaysia plans US$500 million 10-year Sukuk

Hong Kong decides to list maiden Sukuk on NASDAQ Dubai

Kuveyt Turk to make its debut in the Southeast Asian debt capital markets with Sukuk program in Malaysia

Aktif Bank signs US$45 million Murabahah deal with International Islamic Trade Finance Cooperation to support Turkish exporters

Saba Islamic Bank chief joins Ibdar Bank as new CEO

Sri Lanka welcomes new Islamic finance player as MCSL Financial Services launches Shariah compliant unit

Turkiye Finans reveals plans to establish presence in Bahrain

Abu Dhabi Islamic Bank introduces capital-protected notes tracking Dow Jones Islamic Market Titans 100 index

Emaar Malls Group to decide final price on shares next week, eyes AED5.8 billion (US$1.58 billion) through IPO

Empower procures inaugural Shariah compliant funding to finance district cooling network in Dubai

Mashreq Bank inaugurates new branch in Al Ain featuring Islamic smart banking capabilities

Muscat Securities Market’s revised Shariah index begins trading

AlJazira Takaful Taawuni receives final approval for Rental Protection Plan

Arab Orient Takaful purchases EGP50 million (US$6.89 million)-worth of investment certificates in New Suez Canal Project

First Takaful Insurance to hold EGM to discuss capital increase proposal

Sustainability is one of the most significant trends of the financial markets in decades, says Arabesque
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