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.
The European Islamic Investment Bank has branches in London and Bahrain. Recently, there has been several news coverage on it.
For example:
CIMB Islamic Bank Bhd has received the World Islamic Capital Markets Excellence Award 2007 for its achievements in international capital markets.
Read the full article.
According to financial markets analysis firm Moody's, Islamic Insurance (takaful) is experience steady and strong growth.
Islamic insurance (takaful) has shown very impressive premium growth rates of about 20 per cent since 2000 and is expected to reach $7.4 billion by 2015, according to Moody's Investor Services.
Total takaful premiums were about $2 billion in 2005. Moody's attributes the rapid pace of growth of takaful to the difficulties that traditional insurers are facing in complying with Sharia as a result of their investment strategies.
“Innovation and Authenticity”
April 19 and 20, 2008
The Eighth Harvard University Forum on Islamic Finance is scheduled to be held at Harvard Law School in Cambridge, Massachusetts on April 19 and 20, 2008. The theme of the conference will be “Innovation and Authenticity.”
The Globe and Mail has an article by Tavia Grant on Islamic banking in Canada.
Representatives at Canada's second- and third-largest banks by market capitalization were among the 200 delegates at the Islamic Finance World conference in Toronto this week.
"I can confirm it's something we're tentatively looking at," said Frank Switzer, Scotiabank's spokesman, without providing further detail. TD spokeswoman Kelly Hechler said "it's something we're looking at and we're interested in."
The American magazine has an article on Islamic Banking, Sharia law regarding banking and finance, and banks offering Islamic banking services.
Read the article: Islamic Banking : Is it really Kosher? by Aaron MacLean.
An article in Canada's Financial Post discusses Islamic mortgages, and how many Muslims are buying homes according to sharia law.
Financial Post: Carrie Tait: Faith-based mortgage court Muslims.
BeliefNet has a poll about Islamic investment, with the following results:
The Christian Science Monitor has a good article on Muslims investing in companies in accordance to their faith and principles, avoiding banks and lending institutions, as well as companies who derive most of their income from interest.
Other rules are mentioned about what can be invested in.
The article covers Amana Fund, Azzad Fund, and other Islamic mutual funds.
