GERMANY - Why German blushes could have been saved by a vibrant sukuk market

Sovereign Germany might be disappointed that its recent Eurobond offering was not fully subscribed. Perhaps in hindsight, had it instead opted to issue a debut Eurosukuk for the same amount, the story might well have been different.

Sukuk issuers, whether conventional entities such as HSBC Middle East or Goldman Sachs (both of which tapped the sukuk market in 2011, or Islamic banks, agree that market conditions in the sukuk space is more favorable than in the conventional space. And this confidence and appetite for Sukuk is backed by rising demand from big institutional investors in the Middle East and Asia. (source)

GERMANY - KL’s edge in Islamic finance - Bundesbank send representatives to Malaysia's Securities Commission for training on Islamic finance

thestaronline - German don: Malaysia’s comprehensive regulatory framework a competitive advantage

KUALA LUMPUR: Malaysia's competitive advantage in Islamic finance is its comprehensive regulatory framework, according to a German economics professor. (source)

LUXEMBOURG - No debut sovereign sukuk out of Luxembourg for the moment

Perhaps it is not surprising that Luxembourg has put a dampener on any speculation that it may go to the international market to raise funds through a debut Sukuk issuance. Yves Mersch, governor of the Banque Centrale de Luxembourg, speaking to reporters at the 8th Islamic Financial Services Board (IFSB) Summit on May 12-13 which was held in the Duchy and in Europe for the first time and hosted by the central bank, confirmed that the Luxembourg government is in no hurry to issue a sukuk because there are currently no compelling reasons for doing so. (full story)

RUSSIA - ICD offers Islamic finance study tours to Russian, CIS officials

The intellectual argument for and the demystification of Islamic finance has gained much ground in Russia and the CIS countries over the last two years, but the political decision makers and bureaucracy, especially the banking regulatory authorities, still need to be convinced about the role an alternative Islamic system of financial management can play, especially in the aftermath of the global financial crisis. As such, Islamic finance in the region is at best a work in progress but the task ahead remains huge. (full story)

UK - EVENTS - SPEECH - Muhammad: Still Room For Cooperation Between KL And London On Islamic Finance

KUALA LUMPUR, Nov 30 (Bernama) -- There is still room for cooperation between Kuala Lumpur and London on Islamic finance, says Bank Negara Malaysia (BNM) deputy governor, Datuk Muhammad Ibrahim.

He said collaboration between financial centres in Islamic finance was an important part of the process that would contribute towards expanding global development of the industry.

"The importance of our relationship has been cemented not long ago with the signing of the memorandum of understanding between BNM and the United Kingdom Trade and Investment," he said in his keynote address at the ISRA-IIBI Second Annual International Thematic Workdshop 2010 in London Monday.

LUXEMBOURG - Liquidity management - Islamic finance boost via IILM: Zeti

The establishment of the International Islamic Liquidity Management Corp (IILM) will further enhance the capacity of Islamic finance in facilitating efficient cross-border flows, Bank Negara Malaysia (BNM) Governor, Tan Sri Dr Zeti Akhtar Aziz, said today.

FRANCE - IMF - Malaysia promotes Islamic finance at international events (agreement with Banque de France)

Islamic finance is never off the agenda of Malaysian officials whenever they address international, regional or national events relating to finance and the economy. While most IDB (Islamic Development Bank) member countries shy away from promoting Islamic finance on the global agenda including the G20 meeting in Canada in July this year, and some still live in denial about the reality and efficacy of Islamic finance, Malaysia has been championing the Islamic finance agenda, sometimes to the point of embarrassment, not due to their own role but the lack of empathy from fellow Muslim countries.

FRANCE - LUXEMBOURG - INCEIF (Malaysia) on track to become global university in Islamic finance

KUALA LUMPUR, Oct 23 (Bernama) -- The International Centre for Education in Islamic Finance (INCEIF) is on track to become a truly global university in Islamic finance going forward.

Its President and Chief Executive Officer Agil Natt said the university would be collaborating with the University of Luxembourg, the Chinese University of Hong Kong and the Reims Management School in France next year for Islamic finance education.

FRANCE - Cooperation between BNM and Banque de France

Bank Negara Malaysia (BNM) and the Banque de France has signed a Memorandum of Understanding (MoU) for cooperation in financial services between the two countries.