Law.com has an article on how Islamic finance is booming.
Does your sukuk comply with shariah? Muslims try to reconcile modern commerce with the teachings of the Prophet
For those with a passing knowledge of the strictures of Islamic law, in particular its prohibition on the charging of interest, the term "Islamic financing" might seem to contain an inherent contradiction.
In the Middle East, there is a lot of demand for lawyers for the growing Islamic finance sector.
An example is where DLA Piper moved to boost its Islamic finance team.
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.
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.
