MALTA - EVENTS - Mediterranean Islamic finance institutions honoured in Malta

timesofmalta.com - International Shariah-compliant institutions were honoured at the 2011 Mediterranean Awards for Global Excellence in Islamic finance held in Malta last week.

The awards, part of the programme of the two-day Mediterranean Islamic Finance Conference, aim to encourage organisations which offer genuine Islamic finance, particularly those which make a significant contribution in the region.

The gala event at the Verdala Palace was held under the patronage of President George Abela.

Al Baraka Banking Group won awards for Best Shariah Compliant Private and Venture Capital and for Major Contribution to Islamic Finance. (source)

MALTA - Experts eye impact of Sharia law on Maltese business with Libya

timesofmalta.com - It is too early to determine the implications of Libya’s plans for an Islamic banking structure for Maltese firms operating there, but they will certainly have to heighten their cultural awareness, Islamic finance expert Reuben Buttigieg told The Times Business.

Declaring Libya liberated on Sunday, three days after the death of Colonel Muammar Gaddafi, transitional leader Mustafa Abdul-Jalil said that Islamic Shariah law would be the “basic source” of legislation and all existing laws contradicting Islam would be nullified.

He said new banks would be established on banking principles which comply with Islam’s ban on interest and speculation. Interest would be cancelled from any personal loans already taken out for less than 10,000 Libyan dinars.  (source)

MALTA - PUBLICATIONS - UCITS and Islamic Funds

The Malta Institute of Management (MIM) shall be shortly launching a publication on UCITS and Islamic Funds. Given the active role that MIM has taken in the Islamic Finance Industry , it felt the need to take matters a step further in order to assist the Islamic Finance sector to grow even further in Europe. In this context, it commissioned this publication that addresses specific instruments that are used in the Fund industry within three main International Funds jurisdictions being Malta, Ireland and Luxembourg amongst others the Professional Investor Funds. The publication delves into the analysis of the UCITS framework and whether this encourages and/or allows various types of Islamic Funds to fall into its investment criteria. 

UCITS are European Investment Funds that have a European passport which allows a fund which is domiciled and authorised in a Member State to be sold to in other European Member States. A number of Directives have been issued in order to address new developments in the markets and to find ways to enhance the single European Market for UCITS funds.

One of the main difficulties of Islamic Funds Distribution may be the lack of passportability that these have from one jurisdiction to the other. Is UCITS the solution to this? This publication addresses also this dilemma.

This pre-publication offer is  open until the 15 November 2011.

Price

Conference Participants and MIM members                     Euro  50

Others                                                                              Euro  60

The above fees DO NOT include postage /courier charges.

For  further information please contact accounts@maltamanagement.com

MALTA - EVENTS - The MIM Mediterranean Islamic Finance Conference 2011 - 27-28.10.2011

Mediterranean Islamic Finance Conference – New Openings

Malta Agenda October 27th & 28th

Co-Chairmen: Reuben Buttigieg & Oliver Agha

MIM will once again hold the Mediterranean Islamic Finance Conference 2011- New Openings. The conference will bring to the fold key speakers including highly renowned international scholars to discuss practical issues and opportunities. The conference will shed further light on the opportunities Malta is already benefiting from and the opportunities that exist which may lead Malta as being the Islamic centre  in the Mediterranean amongst which the area of re-insurance. MIM will once again also hold the Mediterranean Awards for Global Excellence in Islamic Finance to be held under the distinguished patronage of the president of Malta. 

tentative agenda hereunder
website organizer - website Finance Malta