GUERNSEY - Guernsey Finance recognised for work in the Middle East

guernsey.isle-new.com -Guernsey Finance, the promotional agency for the Island’s finance industry, has been named as one of the 50 most influential organisations working within the Middle Eastern and North African funds industry.
Leading trade magazine, MENA Fund Manager, has included its Power 50 within issue 32 of the magazine, which was published on Monday 14 May. Guernsey Finance is one of only three ‘offshore’ organisations or individuals and the only promotional agency featured on the list.
MENA Fund Manger’s Power 50 has been collated in response to nominations made by industry professionals in recent months. (source)

ITALY - Islam: interest in 'halal' finance growing in Italy

www.ansamed.info - (ANSAmed) - MILAN, MARCH 19 - Islamic finance has existed in Europe for more than forty years, with the United Kingdom one of the world's leading countries in the field, and others, such as Malta and Luxembourg, also at the forefront. In Italy, where the sector is more or less non-existent, results of the first experiments are now beginning to be seen.

In 2009, for instance, Deloitte set up a sector dedicated to Islamic finance. ''At the moment, we are developing products compatible with Italian regulations,'' says Alberto Liotta, a director at the consultancy firm, a guest at a conference organised by Islamic Relief Italia. ''Attention is mainly focussed on conventional financing instruments, such as leasing, the concept of which can be brought closer to those of Islamic finance''.  (source)

WORLD - PUBLICATIONS - Islamic Finance News GUIDE 2012

Country Reviews :

Czech Republic: Seeking Solutions
France: Seeking diversity
Germany: More talks, little action
Ireland: Will Islamic finance offer respite?
Italy: Friends in high places
Luxembourg: Gaining momentum
Malta: The Bahrain of the Mediterranean
Russia: Lukewarm reception
Turkey: A bumper year for Islamic finance
UK: Real estate to dominate


Full Guide

MALTA - GAMBLING - 15% Highly Qualified Persons Tax Rate extended to iGaming Executives

ccmalta.com - Malta recently introduced an attractive 15% flat rate of tax for individuals working in the financial services sector who can meet a number of requirements specificied in the relevant legal notice. This measure was introduced in response to the growth which the Maltese financial services sector, which has seen rapid growth in the context of hedge funds, FOREX businesses, captives and other areas, has registered over the last few years. This measure is now being extended to cover the country's well established internet gambling industry.  (source)

MALTA - EVENTS - Islamic finance can alleviate suffering in Med, conference told

timesofmalta.com - By its very nature, Islamic finance can help alleviate suffering in the Mediterranean and particularly in North Africa, Malta Institute of Management president Reuben Buttigieg told last week’s Mediterranean Islamic Finance Conference.

This is the time to show that the values we preach come to reality in a region that is begging for such opportunity

“Microfinance will be desperately needed in the region and we must find ways to encourage various Islamic finance institutions to ensure that the necessary financing is available,” Mr Buttigieg said. (source)

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 - 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 - Promoting Malta as an international financial centre : Mediterranean Islamic Finance Conference (27-28 October)

MALTABUSINESSWEEKLY.COM - FinanceMalta, the public-private initiative set up to promote Malta’s international financial centre, has various international promotion opportunities lined up over the next few weeks. Chairman Kenneth Farrugia talks to Vanya Walker-Leigh

FinanceMalta’s participation in two high-profile events in the City of London next week are significant steps in our long-range marketing strategy launched in 2007 which identifies EU as our core market, FinanceMalta’s chairman Kenneth Farrugia told this newspaper in an interview.  (source)

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

MALTA - Online Forex Broker Tadawul FX Launches New Currency Pairs and Lowers Spreads

LIMASSOL, Cyprus, May 3, 2011 /PRNewswire/ -- Tadawul FX Ltd, a leading European online forex broker, today announced the launch of several new currency pairs as well as the tightening of spreads on some of its existing forex currency pairs.   These new developments are now available with immediate effect, further to customer feedback and requests. Tadawul FX is well known for its commitment to offering low and fixed spreads under all market conditions and with no additional  charges and continues to show its dedication to   superior customer  service by addressing  traders' needs and implementing their requests on an ongoing basis.(full story)

MALTA - EVENTS - EGYPT - Seminar on Islamic Finance in Malta

“Malta can become the Bahrain in the Mediterranean by attracting Islamic Finance to its shores.” This statement was made by Mr. Reuben Buttigieg, Managing Director of Erremme Business Advisors and Chairperson of the Malta Institute of Management Training and Education Division, during a half-day seminar on Islamic Finance in Malta, organised on Wednesday 8^th December 2010 by the Embassy of Malta in Cairo in collaboration with Erremme Business Advisors.

MALTA - Malta as a gateway for Islamic Finance

Over the last four years, the Malta Institute of Management, in collaboration with the Malta Union of Bank Employees, played a fundamental role in the efforts to create a constructive discussion on Islamic Finance and on Malta’s role as a gateway to Europe and North Africa for this method of financing.

MALTA - World Islamic Finance Institute established

The founding members of the World Islamic Finance Institute signed an in-principle agreement to form the institute, which will serve as a non-governmental organisation with its headquarters in Malta and an office in Dubai, UAE.

MALTA - MFSA’s Guidance Note for Shariah Compliant Funds

As a follow up on :MALTA - Opening Speech by The Hon Tonio Fenech, Minister OF Finance, the Economy and Investment at the Islamic Finance Conference 2010 “A New Beginning” - Floriana – 27/10/2010

Here is the reference to the MFSA’s Guidance Note for Shariah Compliant Funds.

MALTA - Opening Speech by The Hon Tonio Fenech, Minister OF Finance, the Economy and Investment at the Islamic Finance Conference 2010 “A New Beginning” - Floriana – 27/10/2010

Ladies and Gentlemen,

May I start by congratulating the Malta Institute of Management for putting together such an excellent programme for today’s conference and for attracting speakers of such quality and experience.

The theme of the programme - “A New Beginning” - is a very appropriate one at this delicate stage in the cycle of the world economy.  Indeed, to be able to talk with confidence on such a subject calls for a sound platform - one that has withstood the test and that has come out of it with renewed focus and vigor.

MALTA - “Malta Islamic Finance Conference: A New Beginning 2010” - Oct 27-28, 2010

During the past decades Islamic Finance has experienced an unprecedented phenomenon of growth and scope. Its importance has consistently spread its roots across all continents. Its impact is today felt also in small states such as Malta. A clear evidence of its impact are the high turn up for the various Islamic Finance events organised by the Malta Institute of Management in the last four years which attracted participants from various EU member states, North African Countries, and the Middle East.