Dubai 25th November 2010 - HBG Holdings, a leading UK private equity investor and fund management business specialized in the Middle East, has today announced plans to invest $500 million in small and medium sized enterprises in the United Kingdom. HBG will specifically target companies with potential to expand operations in the United Arab Emirates and the GCC states.
An Islamic trade body has been set up in the UK to promote Islamic finance and to campaign for a sterling-based Sharia bond.
AdvId: 2775490 AdId: 232088203 CrId: 39132990
The UK Islamic Finance Secretariat was showcased at the World Islamic Banking Conference in Bahrain, where 1200 delegates from 50 countries attended the three-day event to learn about the strengths and challenges facing the industry.
SWIFT has announced that ISO 15022 message standards for the processing of treasury murabaha transactions have been certified compliant with the international Islamic finance standards issued by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions). This certification paves the way towards the automated processing of murabaha treasury transactions, said to represent 60 percent of all Islamic financing.
The Islamic finance industry in the UK has gone from famine to feast in the past six months, according to one of the country's leading Islamic institutions.
'We have seen more business transactions in the past six months than we achieved in the previous three years,' said Gatehouse Bank chief executive officer, Richard Thomas.
The Kul Sharif mosque in Kazan. Kazan, the capital city of Tatarstan Republic, is one of the largest and most important Russian financial and cultural centers.
Businessman Linar Yakupov, who started the Halal Industrial Park, told RFE/RL that his facility will produce 30 halal products, including meat, spices, cookies, flour, and other types of nonprocessed food made according to Islamic rules and regulations.
By MUSHTAK PARKER | ARAB NEWS Published Nov 21, 2010 23:19 Nov 21, 2010 23:19
LONDON: The Irish banking system may be beleaguered and awaiting an imminent bail out from the eurozone countries through the European Central Bank, but the Irish Revenue and Customs is pressing ahead with its tax neutrality regime to facilitate the introduction of Islamic financial transactions in the country.
Date: December 2, 2010 | Time: 12:00 PM EDT | Duration: 1hr00 | Speaker: Hossam Abd El-Rahman
Islamic Banking has become one of the fastest growing sectors of the financial services industry in the world. With the current economic crisis and credit crunch, the inherent stability and security of Islamic financial institutions has made Islamic Banking desirable to both Islamic and conventional financial institutions alike. As a result, even the largest financial institutions have opened Islamic windows and started offering Shariah compliant products and services.
World Islamic Finance Conference is the third Islamic Finance related conference launched by Fleming Gulf Dubai. World Islamic Retail Banking Conference which is annually attended by over 200 delegates and Asia Islamic Banking Conference which was supported by Malaysia International Islamic Financial Centre (MIFC). These Annual Conferences have been successfully launched in Dubai and Kuala Lumpur respectively.
For the second consecutive year, The Moscow Times is organizing the international conference "Islamic Finance: Prospects for Development in Russia." The event's organizers aim to draw public attention to the topic of Islamic finance and talk about the potential of applying Islamic banking and financial products in Russia, as well as problems such as an underdeveloped legal framework and the discrepancies between Russian and Sharia law.
