Islamic Finance and Investment Limited (IFIL) has approved 12.50 per cent cash dividend for its shareholders for the year 2006. The dividend was approved in the company's 6th annual general meeting (AGM), with IFIL board of directors Chairman Anwar Hossain Chowdhury in the chair.
Caroline Grimshaw of Legal Week draws attention to the hot market of Islamic finance and how big deals are being announced every day, as well as big name law firms getting involved.
She tries to be the voice of reason and moderation, by saying that Islamic finance is not a license to print money.
Business Today Egypt has an article on how the performance of insurance companies in Egypt's stock market has made them a stagnant sector. This includes Al-Mohandes Insurance Company, and Delta Insurance.
Islamic insurance (takaful) may be a good strategy to revitalize the sector.
Jawad Ali, partner at King & Spalding, has an article on Council on Foreign Relations titled: Islamic banking is a rapidly growing industry. He explains what Shariah finance is, how it works, prohibition on interest, and how the overall market segment is growing.