UK - IDB exploring microfinance options in UK

www.saudigazette.com.sa - LONDON — The Islamic Development Bank (IDB) is exploring social and financial inclusion opportunities in the UK including the provision of community-based microfinance, SMEs (small-and-medium-sized enterprises) financing and technical assistance programs.
 
An IDB delegation, led by its President Dr. Ahmed Mohammed Ali, participated in a roundtable here Monday with financial institutions, law firms, corporates and community organizations and leaders.

Dr. Ali said that in addition to the direct assistance to microfinance institutions, initial discussions have taken place with the UK’s Department for International Development (DFID), World Bank and CGAP to start some pilot projects in various common member countries and eventually develop a global Islamic microfinance facility.  (source)

UK - Islamic Development Bank signs MoU with British Int''l Development

www.kuna.net - JEDDAH, March 11 (KUNA) -- The Islamic Development Bank (IDB) and United Kingdom International Development Department signed on Sunday a memorandum of understanding (MoU) which aims at enhancing coordination and cooperation between the two sides in the fields of combating poverty and reducing unemployment.
According to a press statement marking the occasion, the MoU was signed by Ahmad Mohamed Ali, the President of Islamic Development Bank (IDB), and British Minister of State for International Development Alan Duncan who represented the UK International Development Department. (source)

UK - Dubai partnership set to boost UK financial exports

www.thecityuk.com - Companies across the UK are set to benefit from a new partnership between the Dubai International Financial Centre Authority (DIFC) and TheCityUK.

The DIFC has signed a Memorandum of Understanding (MOU) with TheCityUK to share financial, legal and regulatory expertise, collaborating on areas of mutual interest including closer links on education, training and qualifications. The agreement is expected to provide a significant boost to UK exports in the Middle East and North Africa region, where the United Arab Emirates (UAE) already accounts for £3.9 billion of UK exports. (source)

LUXEMBOURG - Qatar, Luxembourg strengthen cooperation

www.theasset.com - The Qatar Financial Centre (QFC) Authority and Luxembourg for Finance are exploring how to further advance their partnership for financial services.

 

They recently completed a seminar which followed the signing of a memorandum of understanding (MOU) between QFC Authority and Luxembourg for Finance last year, to promote cooperation between the two countries in financial services.  Among the topics discussed at the seminar were financial services opportunities in Qatar and the role of Luxembourg as an international hub for financial services in Europe. Luxembourg for Finance is the agency for the development of Luxembourg as a financial centre. (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)

SWITZERLAND - Dubai Financial Services Authority renews ties with Swiss counterpart

The Dubai Financial Services Authority (DFSA) entered into a Memorandum of Understanding (MoU) with the Swiss Financial Market Supervisory Authority (FINMA). The MoU was signed on behalf of the DFSA by its Chief Executive, Mr Paul M Koster and Professor Anne Héritier Lachat, Chair of the Board of Directors of FINMA, in advance of a meeting of the DFSA Board in Zurich.(source)

FRANCE - MOU Between Ijara Management Compagny (IMC) and Real Economy Partners (REP)

Ijara Management Company (IMC) a wholly owned subsidiary of The Islamic Corporation for the Development of the Private Sector (ICD) a multilateral organization, affiliated with the Islamic Development Bank (IDB) Group and REAL ECONOMY PARTNERS (REP) announced an exclusive partnership to develop Alternative Leasing (Crédit-Bail Alternatif) solutions for the French Market. (source)

IRELAND - Bahrain and Ireland Sign a Memorandum of Understanding for Financial Services

Manama - Kingdom of Bahrain - 08 December 2010 - Bahrain today welcomed a high-level Irish delegation headed by Mr. John Bruton, Chairman of Ireland's International Financial Services Centre (IFSC) and other representatives from Ireland's financial services industry.

During their visit, the delegation hosted a seminar entitled "Ireland - the financial services gateway to Europe" which was attended by the Governor of the Central bank of Bahrain (CBB) Mr. Rasheed M. Al Maraj. This event aimed to identify investment opportunities in the Republic of Ireland, and exchange Bahrain's experiences and knowledge in the fields of Islamic Finance and Financial services in general in order to enhance the economic relations between Ireland and the Kingdom of Bahrain.