Islamic Shariah compliant real estate property fund to launch in Dubai
In Dubai, HDG Mansur Capital Group plans to launch an Islamic shariah compliant real estate property fund, with assets between $1.2 to $2 billion.
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In Dubai, HDG Mansur Capital Group plans to launch an Islamic shariah compliant real estate property fund, with assets between $1.2 to $2 billion.
Shariah based TA Islamic fund is declaring a 3.5 sen distribution.
Established in 2001, the fund now has 600 million units.
Financial news provider Bloomberg has an article on how Islamic nations plan to boost economic ties, including tax breaks to attract surplus capital from oil revenue in Gulf countries, wealth management and real estate.
The general insurance subsidiary of British Islamic Insurance Holdings (BIIH) submitted its formal regulatory application, and business plan, to the UK Financial Services Authority (FSA) for authorisation to undertake general insurance business in the UK.
Read more in the press release.
More than 300 international attendees were at the 3rd Annual World Islamic Funds and Capital markets conference in Manama Bahrain.
Here is the lengthy press release with more details.
Takful, the Islamic mode of insurance where the risk and gains are equally shared by the insurer and the insured will be introduced in Pakistan.
Shoaib Soof, director of Takaful Securities and Exchange Commission of Pakistan said:
Celent has announced a report titled: An overview of Islamic Insurance: Market trends and technology considerations.
According to the report, the global takaful (Islamic insurance) market is expected to exceed $7 billion by 2015.
Qatar Islamic Insurance Co (QIIC) plans a joint venture in Syria with Shariah compliant services.
Prudential, Britian's second largest insurance company, announced a deal to setup Islamic life insurance (takaful) with Bank Al Jazira in Saudi Arabia.
Full article from Gulf News.
Ahmadabad based Parsoli Corp. is an Islamic financial services corporation based in India. It recently announced that it will open branches in Srinagar, Mumbai and Aurangabad.
It also plans to hold first Islamic investment conference in Kashmir.