GERMANY - Albaraka Turk enters Iraq - plans for Germany, Albania, Kosovo and Bosnia in the medium term

www.hurriyetdailynews.com - Albaraka Türk has become the first Turkish participation bank to open a branch in the city of Arbil in northern Iraq. The bank also plans to branch out to Qatar, Bahrain and Dubai in the near term and Europe, specifically Germany, Albania, Bosnia and Kosovo, in the medium term. “We are in Iraq to increase the presence of Turkish firms in the region, to support the development of the region and to modernize the Middle East,” Albaraka Türk’s general manager, Fahrettin Yahşi, told daily Hürriyet. Yahşi said Arbil was the most developed region in Iraq and on the brink of a re-birth, adding that Albaraka Türk was there to help the city reach its target of becoming a future Dubai. (source)

UK - EVENTS - WIBC Bahrain : UK 'to remain leading centre'

MANAMA: The UK and London will remain the world's leading international and Islamic financial centre.

That was the message from British Ambassador Iain Lindsay at a UK roundtable discussion at the WIBC yesterday.  (source)

FRANCE - EVENTS - French Islamic finance in focus at key forum

MANAMA: The 18th annual World Islamic Banking Conference (WIBC 2011) will feature a key session on "Islamic Finance New Developments in France - Growth and Opportunities". The forum will be held from November 21 to 23 at the Gulf Hotel.

The session, hosted by Invest in France Agency, will feature critical discussions on the development of Islamic finance in France. It will also analyse and evaluate the tax and legal framework in France and will also assess real case feedback for structuring Islamic ethical compliant equities and funds.  (source)

UK - Bank of London and The Middle East plc ("BLME") receives a License from the Central Bank of Bahrain

Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain (picture)

Manama, Kingdom of Bahrain - 8^th February 2011 - The Central Bank of Bahrain ("CBB") has granted a License to the Bank of London and The Middle East  plc ("BLME"), an FSA authorized Independent Wholesale Shariah-compliant bank based in London, to open an office in the Kingdom of Bahrain.

From its main office located in the city of London, BLME provides a wide range of Shariah-compliant banking services and advice to businesses and individuals, with a strong focus on Europe, the Middle East and North Africa regions, as well as the USA. The five core areas that set the foundations for BLME's offerings are Private Banking, Corporate Advisory, Corporate Banking, Asset Management and Markets division.

The Bahrain office will be BLME 's first overseas presence, through which the bank intends to tap the Middle East markets. (source)

SWEDEN - Capital Management House announces petrochemical shipping JV with Bahrain's Noga Holding and I.M. Skaugen (Sweden)

(Source: Middle East Company News)Capital Management House ("CMH"), the Bahrain based investment bank, today announced that it has entered into a joint venture with Skaugen Marine Company SE ("SMC"), a wholly owned subsidiary of I.M. Skaugen SE ("IMS"), a leading Norwegian petrochemical and logistics transportation marine company, and nogaholding Company, the business and investment arm of Bahrain's National Oil & Gas Authority (NOGA), in Skaugen Gulf Petrochem Carriers BSC(c) ("SGPC"). 

IRELAND - Bahrain and Ireland Sign a Memorandum of Understanding for Financial Services

Manama - Kingdom of Bahrain - 08 December 2010 - Bahrain today welcomed a high-level Irish delegation headed by Mr. John Bruton, Chairman of Ireland's International Financial Services Centre (IFSC) and other representatives from Ireland's financial services industry.

During their visit, the delegation hosted a seminar entitled "Ireland - the financial services gateway to Europe" which was attended by the Governor of the Central bank of Bahrain (CBB) Mr. Rasheed M. Al Maraj. This event aimed to identify investment opportunities in the Republic of Ireland, and exchange Bahrain's experiences and knowledge in the fields of Islamic Finance and Financial services in general in order to enhance the economic relations between Ireland and the Kingdom of Bahrain.