FRANCE - Dubai to increase Islamic Finance products to France

Dubai Exports, an agency of the Dubai Department of Economic Development (DED), in partnership with Invest France conducted an Islamic Financial Services Trade Mission to France. The Trade Mission included leading UAE companies in all areas of the Islamic Financial sector from advisory firms and specialists in structuring of products to Shariah scholars and investment banks.  


Engineer Saed Al Awadi, CEO of Dubai Exports, commented, "The principle aim of this trade mission is to ensure that our firms are able to capitalize on global opportunities in the sector. As such we plan to conduct similar missions to Canada which is considering regulatory changes to its taxation laws to incorporate Islamic financial services as well as Indonesia which is home to the world's largest Muslim population of over 130 million people.(full story)

FRANCE - France ready to issue first Islamic bond next year

DUBAI — France will be ready to issue the first Islamic bond issue early next year as the legal framework is in final stage, a former special adviser to financial affairs at the French Treasury said in Dubai on Wednesday.

“We still have to work on some issues for it [Islamic bond or sukuk] but it’s a matter of weeks and then we will be ready in the beginning of 2011,” Thierry Dissaux, who is also Chief Executive of the French Deposits Guarantee Fund, told Khaleej Times on the sidelines of a financial forum in Dubai on Wednesday.

FRANCE - First French Islamic bond seen early 2011

DUBAI, (Reuters) - The first Islamic bond issue out of France could happen early next year, the chief executive of the French Deposits Guarantee Fund said on Wednesday.

"At the beginning of 2011 we could see the first sukuk under French law," Thierry Dissaux, also a former special adviser for financial affairs at the French Treasury, said at a conference in Dubai.