GERMANY - Malaysia's Relations With Germany Have A Great Future - Consul General - CIMB Principal eyes Germany

www.bernama.com - FRANKFURT, May 28 (Bernama) -- Malaysia's relations with Germany have a "great future" not only in trade and economic relations but also in other areas of interest, particularly education.

Malaysian consul-general here, John Samuel, said both sides had good fundamentals for forging a close cooperation in various areas of interest

"I believe there is great future in relations with Europe's economic powerhouse and Malaysia, a key member country of Asean," he told Bernama. (source)

GERMANY - CIMB Principal : Malaysians to bring Islamic banking to Germany

www.dw.de - Islamic investing represents a 1.2 trillion euro market. Now one Malaysian firm wants to bring the trend to Germany. Others have tried and failed before, so it could be a struggle.

Confident and professional, the female chief executive of Malaysia-based CIMB-Principal recently gave a press conference in Frankfurt about the only registered Islamic investment fund in Germany.
With uncovered hair, red lipstick and silver earrings, Noripah Kamso said, "I want to share the new i-word with you. It doesn't stand for iPad, iPhone or inflation–but for Islamic banking."  (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)

IRELAND - CIMB unit eyes US$100mil from Dublin funds

BY DALJIT DHESI

CIMB-Principal Islamic Asset Management says syariah funds can hit target by end-2011

KUALA LUMPUR: CIMB-Principal Islamic Asset Management Sdn Bhd (CPIAM) is targeting about US$100mil in sales for its Dublin domiciled collective investment in transferable securities (UCITS) III umbrella syariah funds by the end of next year.

UCITS are a set of European Union (EU) directives that aim to allow collective investment schemes to operate freely throughout the European Union on the basis of a single authorisation from one member state.