UK - UK FIRM TO LAUNCH INVESTMENT SUKUK

MANAMA: British-based Sharia-compliant investment firm Solum Asset Management will launch the first "investment sukuk" in the first quarter of next year, treating Islamic bonds as investment vehicles rather than debt instruments, its chief executive said.

Unlike traditional sukuk, which are akin to conventional debt products, the £200 million ($310m) Student Accommodation Investment Sukuk will use equity to provide holders with an annual yield of four to six per cent, said Safdar Alam at the company's launch in Bahrain.  (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 - EIIB relocating staff to Bahrain in major push

MANAMA: The London-based European Islamic Investment Bank (EIIB) has decided to change its strategy and refocus on the Islamic markets of the Middle East and Asia.

As part of that strategy, it is relocating some of its key personnel from its London office to its representative office in Bahrain. (source)