Dubai Private Equity Invests in Europe With First Sukuk: Islamic Finance

Bloomberg.com:Millennium Private Equity Ltd., a Dubai government-linked investment company with about $5 billion in capital, plans to use Islamic financing for venture capital in Europe after buying the first corporate sukuk in the U.K.

Millennium, part-owned by Dubai Islamic Bank PJSC, the United Arab Emirates’ largest Shariah-compliant bank, bought $10 million of four-year convertible notes in July that were sold by International Innovative Technologies Ltd., a clean energy company in Gateshead....continue

Allocator Interview: Gold Bullion and Islamic Private Equity: Protection and Production, Shahzad Siddiqui & Toby Birch

Opalesque.com:Shahzad Siddiqui is a Toronto-based lawyer and Chief Legal Officer at Broadwater Capital Inc, a Toronto-based Islamic finance firm. He was previously an investment banker at Ittihad Securities, an Islamic private equity firm in the same city. He is an author of several Euromoney publications including Sovereign Sukuk, co-written with a manager at the Ontario Financing Authority, and Fruits of the Orchard: Endowments for Mosques and Islamic Charitable Organisations in Western and Muslim Lands.

Toby Birch is Managing Director of Oppenheim and Co Limited (investment management) and Guernsey Gold Limited (bullion dealing). He is a Chartered Fellow of the Chartered Institute for Securities and Investment and also hold's the Institute's Islamic Finance Qualification. He is author of The Final Crash, one of the most prescient predictions of the credit crisis published in May 2007. He was previously CEO at Blackfish Capital Holdings where he managed a resources-based hedge fund and senior investment manager at Bank Julius Baer in Guernsey...continue

Allianz Takaful on Islamic Insurance

Youtube:The Islamic insurance industry is facing several supply challenges this year, Allianz Takaful's CEO tells Reuters at the 2010 Reuters Islamic Banking and Finance summit in Bahrain.Watch Video:

IDB to list US$3.5bil sukuk bonds in KL and London

Thestar.com.my:The Islamic Development Bank (IDB) will dual list US$3.5bil of its sukuk bonds in Kuala Lumpur and London by the year-end.

Of this amount, US$1.1bil has already been issued to investors. About US$1bil will be issued by year end, in tranches of five, seven and 10 years.

Finance vice president Dr Abdul Aziz Al-Hinai said one of IDB’s responsibilities was to help members of the Organisation of Islamic Conference grow and develop...continue

Malaysia Rules in Islamic Finance

Businessweek.com:Bonds, home mortgages, and other financial assets that comply with Islamic law, which prohibits the charging or paying of interest, have gained in popularity throughout the Muslim world.

A lot of high-paying jobs and national prestige are up for grabs for the country that can position itself as the hub of global Islamic finance. Persian Gulf states such as Saudi Arabia, the United Arab Emirates, Qatar, and Bahrain have sought to build out their financial-service sectors to accommodate the expanding demand. However, the real action these days isn't taking place in the Gulf but in Asia—especially in Malaysia's capital city of Kuala Lumpur...continue

Islamic Banking between Traditionalism and Innovation

Aawsat:The bank began by launching its new slogan, reflecting its identity and mission statement, namely setting new standards for the Islamic banking industry. This corresponds with the characteristics of the twenty-first century, the giant leap in technology and its use, and the unprecedented progress in the field of business and management.

It was this slogan that adorned the entrance of the bank that prompted a young ambitious businessman to step inside and request an appointment with those in charge of corporate funding so that he could present his promising and innovative project to them...continue

Malaysia to provide tech help for halal zones

Dailytimes.com.pk:Penang Inter-national Halal Hub (PIHH) Malaysia has announced to provide technical advice and consultancy on establishment of Halal industrial parks in Pakistan. A memorandum of understanding was signed the other day in Lahore between Minister for Trade and Religious Affairs of Penang State, Malaysia and Chairman of PIHH, Haji Abdul Malik Kassim and Secretary General and CEO of Halal Development Council (HDC), Pakistan, Asad Sajjad...continue