News

– Dubai’s Emaar Properties establishes $2bln Sukuk program
– Tabreed bonds show investors bet on support: Islamic finance
– Thailand: New Islamic bond offerings
– Islamic Bank Of Thailand plans to launch $164 mln Sukuk this year
– Matang completes Sukuk account payment
– Qatar Islamic Bank has profit of 1.3 bln riyals
– Nigeria: CBN gives fresh conditions for Islamic banking
– Qatar Islamic and Qatar National Bank: Gulf equity preview
– Al-Rajhi Q4 net profit up 13.5pct to $442mln
– Saudi banks ‘protected against bad loans’
– Four banks confirm QIA fund injection via equity buy
– Aman achieves 32 pct increase in profits in Q4 2010
– Islamic nations urged to keep paper currency
– Abu Dhabi: Expansion on the cards for Sharia-compliant financial services

Featured Services

– Liability Driven Investment Europe 2011, 25 – 26 January, 2011, Netherlands
– Administrative Options / Contact
—————————————————————————–

Dubai’s Emaar Properties establishes $2bln Sukuk program

From Zawya Dow Jones:  Emaar Properties, the Dubai-based real-estate
developer, plans to launch a $2 billion Islamic bond program, according to
the program’s base prospectus. Emaar, builder of Burj Khalifa, the world’s
tallest building, has appointed HSBC Bank Plc, The Royal Bank of Scotland
Plc and Standard Chartered Bank as arrangers on the program.  (more…)

—————————————————————————–

Tabreed bonds show investors bet on support: Islamic finance

From Bloomberg: Islamic bonds of National Central Cooling Co., known as
Tabreed, rose on speculation the provider of air conditioning services to
the Dubai Metro may follow Aldar Properties PJSC in getting financial
support from Abu Dhabi. (more…)

—————————————————————————–

Thailand: New Islamic bond offerings

From  Bangkokpost.com:  The country’s first Islamic bond and Islamic
property fund will be launched in the second quarter, says the Islamic Bank
of Thailand (IBank). President Dheerasak Suwannayos said the 5-billion-baht
bond would be structured by Malaysia’s CIMB Bank, its financial adviser. It
is now awaiting approval from the Securities and Exchange Commission.
(more…)

—————————————————————————–

Islamic Bank Of Thailand plans to launch $164 mln Sukuk this year

From Dow Jones: The state-owned Islamic Bank of Thailand plans to issue
THB5 billion ($164 million) in long-awaited Islamic bonds, or Sukuk, within
this year, bank president Theerasak Suwannayos said Wednesday. The bank is
awaiting approval of relevant regulations involving tax and asset transfer
fees, he told reporters. (more…)

—————————————————————————–

Matang completes Sukuk account payment

From  Thestar.com.my:  Matang Highway Sdn Bhd, a wholly-owned
single-purpose funding vehicle of Zecon Bhd, has made the final payment of
RM1.9mil into the sinking fund account (SFA) and finance service ratio
account (FSRA) of its RM15mil sukuk. (more…)

—————————————————————————–

Qatar Islamic Bank has profit of 1.3 bln riyals

From Bloomberg: Qatar Islamic Bank SAQ, the Persian Gulf country’s biggest
Shariah-compliant lender, reported profit was little changed from a year
ago. Its board recommended paying a cash dividend of 5 riyals a share.
(more…)

—————————————————————————–

Nigeria: CBN gives fresh conditions for Islamic banking

From  Allafrica.com:  The Central Bank of Nigeria (CBN) has directed that
all Non-Interest Financial Institutions (NIFIs) desiring to operate in the
country to carry out an internal Shariah audit on a periodic basis, to
examine and evaluate the extent of compliance with Shariah rules. (more…)

—————————————————————————–

Qatar Islamic and Qatar National Bank: Gulf equity preview

From  Bloomberg:  Qatar Islamic Bank SAQ: The Persian Gulf country’s
biggest Islamic lender reported a profit of 1.3 billion riyals ($357
million) last year, compared with 1.32 billion riyals in 2009. The board
recommended paying a cash dividend of 5 riyals a share. The shares fell 2
percent to 83.5 riyals. (more…)

—————————————————————————–

Al-Rajhi Q4 net profit up 13.5pct to $442mln

From  Tradearabia.com:  Saudi-based Al-Rajhi Bank, the kingdom’s biggest
Islamic lender, said on Wednesday it posted a 13.5 percent rise in fourth
quarter net profit, broadly in line with analysts’ forecasts.  (more…)

—————————————————————————–

Saudi banks ‘protected against bad loans’

From Reuters: Saudi banks have taken enough measures against bad loans and
are poised for growth as lending in the world’s top oil exporter will
accelerate this year, the Gulf Arab kingdom’s central bank governor said on
Wednesday. (more…)

—————————————————————————–

Four banks confirm QIA fund injection via equity buy

From  Gulf-times.com:  Commercialbank (Cb), Qatar Islamic Bank (QIB),
International Islamic and Ahlibank have confirmed that they have received
funds from the Qatar Investment Authority (QIA) in lieu of the latter’s 10%
stake purchase. (more…)

—————————————————————————–

Aman achieves 32 pct increase in profits in Q4 2010

From  Cpifinancial.net:  Dubai Islamic Insurance and Reinsurance Company
(Aman) also recorded a net profit of AED 21.18 million ($5.76 million) in
2010, a rise of three per cent compared to the AED 20.57 million ($5.6
million) reached in 2009. (more…)

—————————————————————————–

Islamic nations urged to keep paper currency

From  Commodityonline.com:  Islamic countries should continue to use paper
currency instead of gold dinar as history has shown that the return to the
coinage system could increase interest rates and inflation would be
difficult to control. (more…)

—————————————————————————–

Abu Dhabi: Expansion on the cards for Sharia-compliant financial services

From  Abudhabicityguide.com:  The Islamic Financial Services (IFS) sector
in Abu Dhabi is showing a bullish resilience to the world economic crisis
as it increases market share while expanding its reach with new products,
according to Michelle Solomon, Country Director for Oxford Business Group
(OBG) in the Emirate. (more…)

—————————————————————————–

Liability Driven Investment Europe 2011, 25 – 26 January, 2011, Netherlands

Quote Opal20 to receive 20% off industry rates.

Managing pension funds towards a liability efficient frontier in an
uncertain global economic environment. 

After a one year gap, Finance IQ’s Liability Driven Investment Europe 2011
brings together the entire institutional investment chain including plan
sponsors, pension trustees, regulators and carefully selected asset
management organisations to discuss cutting edge strategies to mitigate
pension fund risk through LDI.

The conference will cover the latest insights into asset – liability
matching, strategic asset allocation and upcoming European regulations to
educate plan sponsors on building an optimal LDI pension strategy.  Attend
the Liability Driven Investment Europe 2011 to learn how you can:

– Minimise your asset-liability mismatch by learning how to implement the
next generation of optimal LDI strategies from practitioners like the Bank
of Finland and the Pension Protection Fund

– Hear how ATP achieved its stellar fund performance in recent years
despite the market volatility from their Chief Risk Officer so you can
benefit from their strategies to manage systematic risk

– Gain insights from the Pension Protection Fund on how you can diversify
your pension fund assets in a LDI framework by capitalising on alternative
investments to boost returns

– Examine the impact of OTC derivative reforms on your business and the
European pensions industry and how you can prepare to hedge for these
effects

– Implement a cost efficient LDI framework that enables pension sponsors
for small schemes to take advantage of this strategy How to book your
place: register online at
http://bit.ly/fw8qlR, call +44 (0)20 7368 9300 or email
enquire@iqpc.co.uk.

—————————————————————————–

Administrative Options

To subscribe please visit: http://www.opalesque.com
To unsubscribe please click at the following link: http://www.opalesque.com/index.php?act=Unsubscribe&do=re&pubtype=ifb&email=nadeem133@yahoo.com (confirm in pop-window)

You are subscribed with the following email: nadeem133@yahoo.com

Please make sure that your email program does not cut the unsubscribe link above in two lines.
—————————————————————————–

Contact/Disclaimer

ISSN Number: 1450-1953
Please mail us your feedback and suggestions to feedback@opalesque.com
we love to hear from you!

Opalesque Ltd.
8 Samou Street
St. Omologites
Nicosia 1640
Cyprus

+49-89-2351 3055
info@opalesque.com
http://www.opalesque.com

This newsletter is overseen by Laxman Pai for Opalesque Ltd.  For more
information about the Opalesque team and Opalesque Ltd. please use this
link.

Did you know? Opalesque has a great newsletter archive – use this link.

Disclaimer: The information contained in this newsletter does not
constitute an offer or solicitation to sell any security or fund to or by
anyone in any jurisdictions, nor should it be regarded as a contractual
document. Under no circumstances should the information provided on this
newsletter be considered as advice for any investment, or as a sufficient
basis on which to make investment decisions. The information contained
herein has been gathered by Opalesque Ltd. from sources deemed reliable as
of the date of publication, but no warranty of accuracy or completeness is
given. Opalesque Ltd. is not responsible for and provides no guarantee with
respect to any of the information provided herein or through the use of any
hypertext link. Past results are no indication of future performance. All
information in this newsletter is for educational and informational
purposes and does not constitute investment, legal, tax or accounting
advice.