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Archive for November 24th, 2008

IBFIM Plans To Offer Islamic Financial Planner Programme Overseas

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Points of Essence:

  • Malaysian based Islamic finance training provider, IBFIM mulls into exporting its Islamic Financial Planner program (IFP). IFP will cater to the need to provide effective financial planning, as planners needed to acquire expertise in developing new financial planning models, strategic analysis, investment advice and tax planning.

KUALA LUMPUR, Nov 24 (Bernama) — Recognising the importance of the Islamic financial market, the Islamic Banking and Finance Institute Malaysia (IBFIM), plans to export the Islamic Financial Planner (IFP) programme overseas.

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Written by Suapi Shaffaii

November 24, 2008 at 7:03 pm

Islamic finance seminar in Malta

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Points of Essence:

  • An Islamic finance seminar will be held in Malta on November 28, 2008. Organized by the Malta Institute of Management (MIM), the Malta Union of Bank Employees (MUBE) and the Malta Employers Association (MEA), the seminar is in support of the efforts made by the Malta Financial Services Authority to explore into Islamic finance.

Posted on November 24th, 2008

The Malta Institute of Management (MIM), the Malta Union of Bank Employees (MUBE) and the Malta Employers Association (MEA) shall organise the second Islamic Finance Seminar in Malta on Friday 28 November 2008 at 5.00pm at the Radisson SAS Baypoint, St Julians.

The Malta Financial Services Authority is now examining and analysing the possibility of Malta tapping into the opportunity of Islamic Finance. It has issued a consultation to which various feedback was given from the financial services industry.

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Written by Suapi Shaffaii

November 24, 2008 at 6:52 pm

Singapore Develops Sukuk Issuance Facility To Promote Islamic Finance

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Points of Essence:

  • Singapore is set to provide a sukuk issuance facility to promote Islamic finance in the city-state. Financial institutions have already expressed interest and the first issuance is expected to be out early next year.

SINGAPORE, Nov 24 (Bernama) – Singapore is in the final stages of setting up a sukuk issuance facility to provide Syariah-compliant regulatory assets to financial institutions as part of its efforts to promote the growth of Islamic finance in the city-state.

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Written by Suapi Shaffaii

November 24, 2008 at 6:35 pm

Posted in Islamic Finance Product

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UAE intervenes in merger as property woes mount

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Points of Essence:

  • As the real estates in Dubai plunged deeper into crisis, the Government of the United Arab Emirates had to intervene in the recently announced merger of Amlak and Tamweel, the UAE’s largest mortgage lenders.  The Government-owned Real Estate Bank was set up to address the issues of funding, liquidity and solvency faced by the two troubled institutions. The new Islamic bank bank will boost real estate sector in the UAE as more housing loans will reach the UAE nationals. The bank can now solicit for deposits from the public and have access to the federal funding, the privileges mortgage lenders are not allowed. Reuters has the report.

By Lin Noueihed

DUBAI (Reuters) – Two of the United Arab Emirates’ largest mortgage lenders, already on track to merge, will be brought under a government-owned bank, the UAE finance ministry said on Sunday, in the first sign of federal government intervention in Dubai’s troubled property sector.

Trading in both Amlak AMLK.DU and Tamweel TAML.DU, which have been struggling amid the global credit crunch, was suspended after the finance ministry said it would supervise their merger under the government’s Real Estate Bank to ensure a fair valuation and protect shareholders.

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Written by Suapi Shaffaii

November 24, 2008 at 6:14 pm