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17 May 2010

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Islamic dollar bond 2010 sales may reach $5 bln

From Bloomberg: Sales of dollar-denominated Islamic bonds may reach $5 billion this year, matching levels of 2009, led by Asia and Gulf Arab nations, said an official at HSBC Holdings Plc, the biggest underwriter of such debt this year. (more…)

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Global sukuk issuances hit $8.5 billion in 2009

From Khaleejtimes.com: Global sukuk issuances touched Dh31 billion ($8.5 billion) in 2009 with an increase expected this year as the Islamic bonds worth Dh11 billion ($3 billion) have already been issued across the Gulf Cooperation Council. (more…)

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Islamic bond issuers wait for calm to return to markets

From Thenational.ae: Upheaval in global markets is likely to further delay a major pickup in sukuk issues until the third quarter, experts say. At present, issuers in the Middle East and south Asia have a small window of opportunity if they want to issue before summer, when business slows and almost stops during Ramadan.  (more…)

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GE Capital plans another benchmark Islamic bond: Executive

From Reuters: GE Capital, a unit of General Electric Co. , plans to issue its second Islamic bond in late 2010 or in 2011, a senior executive said on Sunday. Aris Kekedjian, chief executive of GE Capital Middle East and Africa, said the Islamic bond, or sukuk, would likely be a benchmark issue. (more…)

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Standard Chartered plans to arrange over $4bln Sukuk this year

From Zawya Dow Jones: Standard Chartered PLC plans to arrange more than $4 billion worth of Islamic bonds, or sukuk, globally this year exceeding last year’s figures as confidence and liquidity return to credit markets, a senior executive said. (more…)

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Al-Rajhi, Cagamas to issue ‘first-of-its kind’ sukuk

From Arabnews.com: The sukuk, which will be launched in June 2010 by Cagamas and Al-Rajhi Bank Malaysia Berhad, will be aimed at investors from the Gulf Cooperation Council (GCC) countries, the European Union, North America, Malaysia, Singapore, Brunei and East Asia.  (more…)

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UAE an important cornerstone of Sukuk market

From MENAFN Press: The UAE will remain the cornerstone of the sukuk market in the region. Global sukuk issuances including Malaysia for 2009 touched AED 31 billion (US$ 8.5 billion) with an increase expected this year. The current year has already witnessed AED 11 billion (US$ 3 billion) of overall issuances across the Gulf Cooperation Council (GCC) region. (more…)

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Unicorn says U.S. company to sell $250 mln Islamic bond

From Bloomberg: Unicorn Investment Bank BSC, a closely held Islamic investment bank, is working on a $250 million Islamic debt offering for a U.S. company, a bank official said. (more…)

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Bahrain bank to arrange Indonesian Islamic bonds

From Thejakartapost.com: Two Indonesian companies have appointed Bahrain-based investment bank Elaf Bank to arrange the issuance of their Islamic bonds (sukuk) amounting to US$84 million in total to be sold both in domestic and international financial markets. (more…)

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Oasis aims to build Shariah-investment fund brand

From Arabnews.com: Oasis Group Holdings is the pioneer of Shariah-compliant investment products – both equity and property funds and REITs (real estate investment trusts) – in South Africa since it launched its first Islamic fund in August 1998, the Oasis Crescent Global Equity Fund.  (more…)

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Banking jobs un-Islamic?

From Kuwaittimes.net: A powerful Islamic seminary in northern India has issued a fatwa, or decree, against Muslims working in banks, a spokesman said yesterday, deeming it a violation of Islamic law. The ruling by the Darul-Uloom Deoband, India’s oldest Sunni-run seminary, in northern Uttar Pradesh state, was issued last week but made public yesterday, Mufti Shakeel of the “Fatwa” department said. (more…)

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Indonesia: Shariah lenders scramble for golden opportunity in the pawn shop market

From Thejakartaglobe.com: The nation’s Shariah banks are catching gold fever as more lenders launch pawn shop services to allow owners of the precious metal quick access to cash. (more…)

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Islamic instrument absorbs surplus of Islamic banks

From Yobserver.com: Surpluses of Islamic banks or Islamic instrument will support development through financing infrastructure projects and various sectors of trade, health, education and other, which proved the success of this great experiment in contributing to the development process. (more…)

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Bank Sarasin-Alpen arranges $120 mln Murabaha financing facility for Noor Islamic Bank

From Albawaba.com: Bank Sarasin-Alpen (ME) Limited, a subsidiary of Bank Sarasin & Co. Ltd, a leading Swiss private bank arranged a USD 120 million Murabaha financing facility for Noor Islamic Bank PJSC. The finance facility which has been funded by Bank Sarasin & Co. Ltd, Switzerland has been designed to fund Noor Islamic Bank’s future investments and balance sheet management. (more…)

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The opinions of Islamic banking customers

From Aawsat.com: “Do you believe that Islamic banks differ from conventional banks in terms of their transactions complying with Islamic Shariaa law?” This is the questioned asked in a poll on the CNN Arabic website. At the time of this article going to press 1,974 people had responded to this poll; 88 percent voting “No” and 12 percent voting “Yes.”  (more…)

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UAE banks surpass market predictions

From Gulfnews.com: Most UAE banks have reported first quarter profits surpassing the market expectations. However, bankers and analysts were cautious about expectations for the next three quarters as a potential rise in bad loans, sluggish loan growth and high funding costs were expected to curtail their full-year performance. (more…)

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Ithmaar launches mobile e-banking service

From Tradearabia.com: Ithmaar Bank, a premier retail-focused Islamic bank, said it has launched Bahrain’s first mobile online banking solution that allows customers to conduct a full range of banking transactions through use of smart phones. (more…)

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Al Baraka Egypt Bank Q1 net more than triples

From Reuters: Al Baraka Egypt Bank, an Islamic bank, more than tripled its net profit for the first quarter to 44.0 million Egyptian pounds ($7.85 million), the stock exchange said on Sunday. (more…)

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Kuwait’s NBK 2010 net profit could reach $1bln

From Tradearabia.com: National Bank of Kuwait, the country’s biggest bank, may post $1 billion of net profit in 2010, its chief executive told Al Arabiya television on Sunday. (more…)

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Dubai Bank recognised for ‘Best Marketing Campaign’ at Islamic Business and Finance Awards

From Dubaichronicle.com: In recognition of its commitment to delivering creative, innovative and relevant products and services that raise the bar across the Islamic banking industry, Dubai Bank was presented with the “Best Marketing/Advertising Campaign” award for its Kunooz Savings Programme at the 2009 Islamic Business and Finance Awards held recently in Dubai. (more…)

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Islamic finance at a crossroads

From Investorsoffshore.com: The Islamic banking industry has a lot of catching up to do if it is to compete with the conventional finance industry, according to one prominent banker. (more…)

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Standard Islamic finance rules won’t work – Lawyer

From Thebriefonline.com: Standardising the Islamic finance market will not benefit the industry, Clifford Chance partner head of capital markets and structured finance for the Middle East, Debashis Day has warned. (more…)

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Malaysia’s Islamic finance sector turns to “green”

From Hktdc.com: World Bank and International Finance Corp (IFC) officials arrive this week (10 May) in Malaysia to discuss the establishment of an Islamic financing facility for green technology.  (more…)

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Gulf needs currency with sound fundamentals: Bahrain

From Dailystar.com.lb: Gulf Arab oil producers need a strong single currency, and are watching the euro zone’s troubles, but their goal is still a long way off, Bahrain’s Finance Minister Sheikh Ahmad bin Mohammad al-Khalifa said. (more…)

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Luxembourg is marching ahead

From Arabnews.com: Luxembourg, which held a landmark Islamic finance showcase titled “Relying on Innovation, Building on Expertise” at the 7th Islamic Financial Services Board (IFSB) annual summit in Manama recently, will host the 8th IFSB annual summit in the Duchy in 2011. (more…)

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Islam debate about more than burqas -EU imams

From Maktoob.com: Headscarves, minarets and burkas are given too much emphasis in the dialogue about Islam in Europe, delegates at a conference of European imams in Vienna said Sunday. (more…)

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Book review: Guide to Islamic finance

From Thehindu.com: Since the inception of Islamic banking, about three decades ago, the number and reach of Islamic financial institutions worldwide has risen significantly, writes Brian Kettell in ‘Islamic Finance in a Nutshell’. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, he adds. (more…)

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The Second Annual SkyBridge Alternatives (SALT) Conference, May 19-21, Bellagio, Las Vegas

The second annual SkyBridge Alternatives (SALT) Conference will take place May 19-21, 2010 at Bellagio in Las Vegas, Nevada. The Conference will provide an unmatched opportunity to connect with global leaders and network with your industry peers. Over three days, speakers and attendees from around the world will discuss prevailing issues as well as investment ideas and strategies within the context of a changing economic environment.

Registration is now open and will continue until May 14, 2010. The program, speaker roster, partners list, and other SALT 2010 information will continue to evolve as the event approaches, so be sure to visit www.saltconference.com often for the latest news.

SkyBridge Capital is a leading global alternative investment firm providing developmental capital to hedge fund managers and other types of asset manager businesses. When making an investment, SkyBridge typically seeks to secure “Special Rights” that enable their investors to participate in the managers’ growth and share in the fees and incentive allocations earned on all assets. The firm's team of experienced professionals coordinates a global network of partners in sourcing hedge fund managers and providing business-building and investment-support services. SkyBridge Capital has strategic investments in seven funds. In aggregate, SkyBridge Capital and its underlying managers currently have approximately $1.5 billion under management.

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Battle of the Quants – LONDON – From High Frequency/Low Latency to Machine vs. Human Intellingence; Quant Networking, Discussions and presentations, 9th June

The Battle of the Quants – LONDON returns for the 3rd year. A new innovative lineup promises to deliver the most cutting edge Quantitative Hedge Fund Event in the world. Featuring the financial world's most exciting quantitative managers, investors and technology providers, the full day event will examine how quantitative finance is increasingly finding its way into all corners of the financial world. Fascinating panel discussions include High Frequency Trading, UCITS and Quants, Quant investors’ allocation priorities, latest quantitative innovations, and of course the “Battle” between Discretionary VS. Quantitative trading.

"Thanks for this! I really enjoyed New York and found the cap intro event and the conference very useful.I really like to say that I think that you organize an excellent event which is fun as well…your personal touch makes the difference"
Frank Holle, President, Quant Asset Management

"I wanted to thank you and your team for your hospitality and the content at the "Battle". We certainly enjoyed the event and found it very informative from both a practitioners point of view but also from a networking standpoint"
John Donahue, Phase Capital

"Just wanted to thank you again for the opportunity to participate in your excellent event last week! It was a top-notch event.
I hope to participate in future events that you organize. Thanks!”
Ranjan Bhaduri, PhD CFA CAIA MMath MBA, AlphaMetrix Alternative Investment Advisors

May Fair Hotel, Mayfair, London
9:30am Registration
For additional information please contact, Bartt C. Kellermann, bartt@battleofthequants.com or 212.202.3228 www.battleofthequants.com

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MFA's Forum 2010, Chicago, June 8-9, 2010

Forum 2010, June 8-9, 2010, The Drake Hotel, Chicago, is MFA's premier managed futures and global macro investment strategies conference and exposition for professionals in managed futures, hedge funds, funds of funds and their service providers and investors. Produced by MFA, Forum 2010 will feature an extensive educational program, special networking opportunities, and an informative exhibition of products and services of interest to industry professionals. Forum 2010 will introduce MFA's popular business meeting lounges – where delegates can hold meetings with clients and prospects onsite in the comfort of The Drake Hotel. Refreshments will be available. Your full conference registration includes entrance to the keynote speakers, general sessions, the exhibit hall, breaks, continental breakfasts, luncheons and evening reception.

Register by Monday, May 17, to receive a $250 discount. MFA members pay just $1,500. Registrations from May 18 to June 1 are $1,750 for MFA members. To make a hotel reservation, you first must register online for Forum 2010.

For up-to-date conference information, to register and to discuss supporting Forum 2010, visit the conference eBrochure, or contact Stacy Hudson at 202.367.1140 or stacy@managedfunds.org.

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Posted via email from IBFN (Islamic Banking & Finance Network) at Posterous