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)

IRELAND - Ireland and Malaysia Building a Financial Services Partnership

mifc.com - Governors of OIC Central Banks Recommend Role of Islamic Finance in Promoting Growth and a Diversified Financial SectorThe Meeting of Central Banks and Monetary Authorities of the Organisation of Islamic Cooperation (OIC) Member Countries was held at Sasana Kijang in Kuala Lumpur on 16 November 2011. 

 

The meeting, which was organised and hosted by Bank Negara Malaysia in collaboration with the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) agreed that it was important to build a diversified, progressive and inclusive financial sector including exploring the role of Islamic Finance in achieving these objectives. ...

... Ireland is one of the major hubs for cross-border fund distribution. Irish funds are sold in 70 countries across Europe, the Americas, Asia and the Pacific, the Middle East and Africa. At the end of 2010, assets under administration by the industry in Ireland amounted to EUR 1.8 trillion. (source)

EUROPE - EVENTS - Europe can learn from Islamic finance, says Luxembourg's Finance Minister

biz.thestar.com.my - KUALA LUMPUR: Europe can learn and gain from Islamic finance, given that financial institutions under it, have remained stable against the backdrop of the eurozone debt crisis.

This observation was made by Luxembourg's Minister of Finance, Luc Frieden, in a keynote address at the IFN 2011 Issuers & Investors Asia Forum here today. Frieden said despite the credit crunch that has impacted Europe's banks, Islamic financial institutions had weathered the global crisis and emerged to be the most well managed. (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)

FRANCE - EVENTS - Strong French participation in the KLIFF 2011 Malaysia

ambaframce.my.org - With the support of the French Institute and the Embassy of France in Malaysia, the Malaysia-France University Centre was able to bring a group of French specialists in Islamic finance for this important event: Anouar Assoune, Real Economy Partners, Laurent Weill and Ibrahim Cekici, University of Strasbourg, Kaouther Jouaber, University Paris Dauphine, Dhafer Saidane, University of Lille, Pierre-Charles Pradier, University Paris 1 Sorbonne, Cedomir Nestorovic, ESSEC Business School.  (source)

UK - Malaysia welcomes more partnerships with British companies - Openings for Islamic Finance

LONDON: Malaysia welcomes wider British investments, particularly in high technology and value-added and knowledge-based industries.

There were also many projects that British companies in partnership with their Malaysian counterparts would be able to explore, said Datuk Seri Najib Tun Razak.

These projects included those in business services, education, healthcare, electrical and electronics, green technology, renewable energy and information communication technology, the Prime Minister added. (source)

UK - UEL launches Islamic Banking and Finance Centre

The launch of the Islamic Banking and Finance centre will see the University of East London become a central figure in one of the fastest growing financial sectors in the marketplace.

The Centre will offer postgraduate degrees in Islamic banking and finance and become a vital hub for international scholars who are looking to conduct research in this field. London has become the largest international centre for Islamic finance outside the Muslim world, largely as a result of the City's role as a centre for Middle Eastern and Asian banking. The opportunity for the University of East London is clear; it is situated in an area where the population is nearly 40% Muslim (from which there will be a waiting student base) and is therefore the natural home as the centre of excellence in Islamic Finance within the UK. UEL is also located within minutes of Canary Wharf - London’s banking district. (source)

UK - EUROPE - Islamic Development Bank dual lists $750 million Sukuk in London, Kuala Lumpur

The Islamic Development Bank’s (IDB) Trust Certificates are being listed on the London Stock Exchange and Bursa Malaysia. Despite the volatile economic environment around the world, IDB achieved both a larger deal size and tighter pricing, with the deal pricing 3bps inside secondary market levels

"This transaction is important because it sets a benchmark yield for IDB risk," said Rizwan H. Kanji, a debt capital markets partner with the Middle East and Islamic finance practice of King & Spalding in Dubai, United Arab Emirates. "It also is expected to help re-energize the Sukuk market after a period of relatively low issuance of Sukuk."

King & Spalding advised the IDB on the $750 million benchmark Sukuk which has been dual-listed on the London Stock Exchange and Bursa Malaysia. The joint lead managers on the transaction were BNP Paribas, Deutsche Bank A.G. (London branch), HSBC and Standard Chartered Bank. (full story - source)

FRANCE - INCEIF signs MoU with RMS

The International Centre for Education in Islamic Finance's (INCEIF) recent memorandum of understanding (MoU) signing with France's Reims Management School (RMS), its second such deal in the institute's five-year history, is an indication that non-traditional markets are opening up to Islamic finance.

"In France alone there is a sizeable Muslim population, larger than that of the UK, so the market is already there," said INCEIF president andchief executive officer DatukAgil Natt. (full story)

LUXEMBOURG - IFSB’s debut summit in Europe attracts widespread interest

This year’s 8th annual summit of the Islamic Financial Services Board (IFSB), scheduled to be held at the New Conference Centre Kirchberg in Luxembourg on May 10-13, is already making an impact.

The summit, hosted by the Banque Centrale de Luxembourg, is attracting particular interest from the European Union in addition to the traditional markets in the Middle East and Asia.

The summit indeed will be held for the first time in a EU country and Luxembourg is threatening to overtake the UK and France in spearheading Islamic finance in Europe. (full story)

RUSSIA - MALAYSIA - Amanah Raya to help set up Islamic bank in Kazakhstan

Malaysian trustee company Amanah Raya Berhad is joining forces with Fattah Finance, a local Kazakh brokerage company, and the state-owned Development Bank of Kazakhstan to conduct a feasibility study to establish the second Islamic bank in the CIS country. The aim is to submit an application for an Islamic-banking license later this year under new legislation introduced by Kazakhstan in 2009 to facilitate the establishment of Islamic banks and the introduction of Islamic financial products in the country. (source)

NEW YEARS THOUGHTS - Will dawn of new year take Islamic finance to next level?

By MUSHTAK PARKER | ARAB NEWS

Published: Jan 3, 2011 00:42 Updated: Jan 3, 2011 00:42 

The dawn of the new Hijrah year and 2011 could either signify more of the same as in the last year or a leap toward the first steps to taking the global Islamic finance industry to the next level as Malaysian Prime Minister Mohd Najib Tun Abdul Razak's government says it aspires to do.

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.