Funds News Archive

  • India woos Islamic funds

    The Bombay Stock Exchange (BSE), Asia's oldest bourse, launched its first Sharia-compliant stock index in December in a move that could boost offerings of exchange traded funds (ETFs) and mutual funds to tap into India's fast-expanding economy.

    Source: Gulf News - 15 Jan, 2011

  • Saudi Aramco, Total ink $1b Sukuk for Jubail JV

    JEDDAH - Saudi Aramco and France’s Total will launch $1 billion Islamic bond (Sukuk) in the Q4 to build 400,000 barrels per day crude refinery in Jubail.

    Source: Saudi Gazette - 16 Oct, 2010

  • HSBC Plans Its First Persian Gulf Shariah ETFs This Year: Islamic Finance

    HSBC Holdings Plc, the second-largest underwriter of Islamic bonds, plans to start its first Shariah- compliant exchange traded funds in the Persian Gulf, a region that is struggling to lure international investors.

    Source: Bloomberg - 07 Oct, 2010

  • Al Baraka plans $200m Islamic bond sale

    Bahraini Islamic lender Al Baraka will launch a $200 million Islamic bond sale this year to fund expansion in France, its chief executive said.

    Source: Khaleej Times - 23 Sep, 2010

  • Higher yields spur sukuk rally

    Islamic bonds have rallied in the UAE in recent weeks, spurred on by low yields of corporate and treasury bonds around the world and returning demand from global investors for Sharia-compliant finance.

    Source: The National - 08 Sep, 2010

  • Dubai Private Equity Invests in Europe With First Sukuk: Islamic Finance

    Millennium Private Equity Ltd., a Dubai government-linked investment company with about $5 billion in capital, plans to use Islamic financing for venture capital in Europe after buying the first corporate sukuk in the U.K.

    Source: Bloomberg - 02 Sep, 2010

  • Global sukuk issuance to reach $30b

    DUBAI -- The global sukuk issuance is expected to reach $30 billion in 2010 in light of the recovery in global economic activity and increasing popularity of Shariah-compliant products, according to Kuwait Finance House ?(KFH) report.

    Source: Zawya - 24 Aug, 2010

  • Islamic U.S. Mutual Funds Flocking to Malaysia Seeking Returns

    Malaysia is attracting Islamic investment funds from the U.S. seeking higher returns in Asia as growth in developed economies slows.

    Source: Bloomberg - 16 Aug, 2010

  • Singapore Targets Sukuk as Khazanah Plans Sale: Islamic Finance

    Aug. 3 (Bloomberg) -- Singapore is seeking to develop its Islamic finance market and attract investors as global growth in products that comply with Shariah law tops 20 percent annually.

    Source: Bloomberg - 03 Aug, 2010

  • Malaysia: Hub for Islamic fund firms

    Malaysia is fast establishing itself as the global hub for dedicated Islamic fund management companies. The Securities Commission Malaysia (SC), the securities regulator chaired by Zarinah Anwar, granted at the end of June 2010 the latest Islamic fund management license to Saturna Capital Corp., an American fund manager with a good track record in managing Shariah-compliant funds.

    Source: Arab News - 11 Jul, 2010

  • Sumitomo arranges Japan's first Islamic funding deal

    The deal is expected to be signed in the third quarter and the issuance amount has yet to be finalised.

    Source: Emirates Business 24|7 - 08 Jul, 2010

  • India's Reliance Capital plans Islamic funds

    June 29 (Reuters) - A subsidiary of India's Reliance Capital Asset Management will launch two Islamic funds in Malaysia by July and roll out products for retail investors in two years, a company official said on Tuesday.

    Source: Reuters - 29 Jun, 2010

  • Sukuk sales seen strong in 2010: HSBC Amanah

    Sukuk issuers in Asia are likely to sell at least 10-20 per cent more of Islamic paper this year with the European debt crisis seen having limited impact on Asia's growth prospects, HSBC Amanah said yesterday.

    Source: Emirates Business 24|7 - 02 Jun, 2010

  • Pakistan Plans Islamic Bonds to Tap Local Demand, Qureshi Says

    April 9 (Bloomberg) -- Pakistan plans to sell Islamic bonds, known as sukuk, in the local debt market in the next three months, said Asad Qureshi, executive director of financial markets and reserve management at the central bank.

    Source: Bloomberg - 09 Apr, 2010

  • Islamic funds attract conventional players

    Market share of Islamic financial products is on the rise.

    Source: Business 24|7 - 05 Apr, 2010

  • BNP Paribas Investment aims to double Islamic assets

    KUALA LUMPUR -- BNP Paribas Investment aims to double its Islamic assets under management this year as the global economy recovers but higher borrowing costs worldwide could dampen market sentiment, a senior official said on Wednesday.

    Source: Business World - 03 Mar, 2010

  • Islamic Fund Managers to discuss industry challenges in Dubai

    UAE. The US$35 billion international Islamic funds industry is being urged to offer more innovative areas of investment and to expand into hitherto untapped geographical markets by world-renowned Shariah scholar Dr Mohammed Daud Bakar.

    Source: Business Intelligence Middle East - 02 Mar, 2010

  • UAE Accounts for 20 Per Cent of $19b Global Sukuk Issuance

    DUBAI — Global sukuk issuance totalled $19 billion last year, of which the uae accounted for a fifth, according to thomson reuters data.

    Source: Khaleej Times - 18 Feb, 2010

  • Jordan to host key Islamic finance forum

    Jordan will host a major Islamic finance conference in March. It will attract influential players in the field of Islamic financing and others interested in the industry.

    Source: TradeArabia.com - 25 Jan, 2010

  • Qatar Islamic Malaysia Unit Plans $150 Million Funds in Asia

    Jan. 25 (Bloomberg) -- Asian Finance Bank, the Malaysian unit of Qatar’s biggest Islamic bank, plans to start funds worth at least $150 million to invest in Asia to benefit from economic expansion in the region

    Source: Bloomberg - 24 Jan, 2010

  • Sharia products in demand

    MANAMA: More than 65 per cent of Saudis prefer Sharia-complaint products over conventional funds, Al Khabeer International chief executive Andrew Broadley has said.

    Source: Gulf Daily News - 01 Nov, 2009

  • ISDA Writes Global Standards for Islamic Derivatives

    Global standards for Islamic derivatives contracts may be published as soon as December, helping companies and investors manage risk more effectively, according to the International Swaps and Derivatives Association.

    Source: Bloomberg - 27 Oct, 2009

  • A Strong Islamic Finance Sector Has Given Malaysia An Edge - Nazrin

    MANAMA (BAHRAIN), Oct 15 (Bernama) -- The presence of a strong Islamic finance sector alongside with conventional finance has contributed to Malaysia's capacity to weather shocks to the financial system, said the Raja Muda of Perak, Raja Dr Nazrin Shah.

    Source: BERNAMA.COM - 15 Oct, 2009

  • Sorooh plans to launch Islamic-compliant EU fund

    Sorooh Investment company has signed a memorandum of understanding with Prime Property Consultants Company and HE Hamad Bin Abdullah Al-Attiyah to create " Sorooh European income-generating Fund -- Al Seif compliant with Islamic Sharia".

    Source: Zawya - 15 Oct, 2009

  • Japan SBI plans Islamic fund, India firm

    TOKYO (Reuters) - Japan's SBI Holdings Inc (8473.T: Quote, Profile, Research, Stock Buzz) plans to launch an Islamic investment fund worth $112 million as early as next year and to set up an online brokerage firm in India, the financial services conglomerate's CEO said.

    Source: Reuters - 06 Oct, 2009

  • First Islamic charity fund plans Q1 launch

    LONDON, Sept 29 (Reuters) - The first fund managing Islamic charitable donations plans to launch in the first quarter next year as it bids to raise $750 million from high net worth Muslims in its first 12 months, the fund's Islamic advisor said.

    Source: Reuters - 29 Sep, 2009

  • Deadline for Shariah-compliant distressed property fund extended

    The subscription deadline for Real Estate Musharakah Notes (REMNotes), a Shariah-compliant UAE distressed property fund worth $50 million (Dh183m), has been extended until October 29.

    Source: Business 24|7 - 23 Sep, 2009

  • Islamic finance industry must broaden portfolios

    Islamic finance is winning many fans but further evolution is necessary.

    Source: Gulf News - 18 Sep, 2009

  • Lack of sharia standard limiting Islamic funds-BNP

    MANAMA, Sept 13 (Reuters) - A lack of standardisation in products' compliance with Islamic law is limiting growth of its fund industry, a banker at French lender BNP Paribas said.

    Source: CNBC - 13 Sep, 2009

  • Tharawat to raise $100m for sukuk fund

    Bahrain-based Islamic investment house Tharawat said it plans to raise $100 million by year-end for a sukuk fund it recently launched to snatch up bargains on the secondary market.

    Source: Arab News - 09 Sep, 2009

  • $150m Islamic fund planned

    The National Investor's (TNI) private equity arm and Kipco Asset Management Company (Kamco) plan to set up a $150 million (Dh550m) Islamic fund, in a sign that private equity activity in the Gulf is picking up.

    Source: Business 24|7 - 08 Sep, 2009

  • Malaysia's Islamic capital market on road to recovery

    Malaysia's Islamic capital market, especially its sukuk sector, is well on the road to recovery with the latest figures from the Securities Commission of Malaysia (SCM) confirming that the total size of sukuk issued by August 2009 has overtaken the entire figure for 2008.

    Source: Zawya - 07 Sep, 2009

  • Sukuk Milestone With BIBD

    Bandar Seri Begawan - Brunei has marked another significant milestone with the revival of the sovereign Sukuk market in becoming an important player in the field of Islamic Finance.

    Source: BruDirect.com - 06 Sep, 2009

  • National Bank launches 2nd Islamic KD Ijara Fund

    National Bank of Kuwait announced today the launch of its "Islamic KD Ijara Fund II".

    Source: Arab Times - 05 Sep, 2009

  • Sukuk attracts cash-rich banks

    With debt markets gingerly reopening, Gulf companies eager to raise cash through issuing bonds have to make a decision: should they issue conventional or Islamic bonds, known as sukuk?

    Source: The Peninsula - 27 Aug, 2009

  • Islamic mortgage originator launches retail investment fund

    MCCA Asset Management, a subsidiary of Islamic mortgage originator MCCA, has launched a shariah-compliant retail managed investment mortgage fund, designed to attract Muslim, as well as generally ethical investors.

    Source: moneymanagement.com.au - 27 Aug, 2009

  • Malaysian banks launch standardised murabaha deposit contract

    Malaysian Islamic banks on Thursday launched a standard agreement for commodity murabaha deposit accounts between banks and corporates, aiming to remove a key barrier to the sector's growth.

    Source: Reuters - 20 Aug, 2009

  • Moves to plug the gap in Islamic finance carry risks

    The Islamic finance world is huge and growing hugely," says Chris Oulton, chief executive of Prime Rate Capital.

    Source: Gulf News - 07 Aug, 2009

  • AmIslamic Funds Management to launch four products

    mIslamic Funds Management Sdn Bhd plans to launch at least four new domestic Islamic unit trust products by the end of its current financial year next March to boost its Islamic fund assets to RM1.3bil from RM940mil presently.

    Source: The Star Online - 05 Aug, 2009

  • Islamic finance needs to diversify

    The Islamic finance industry is plagued by a lack of solid and reliable data.

    Source: Business 24|7 - 26 Jul, 2009

  • DIFC Authority releases updated version of 'Guide to Islamic Finance'

    As debt-based conventional banking faces troubled times, asset-backed Islamic finance is becoming popular in world's financial capitals - The Dubai International Financial Centre Authority today announced the release of the updated version of its 'Guide to Islamic Finance in or from the DIFC'.

    Source: Press Release - 20 Jul, 2009

  • Azerbaijani Amrahbank attracts funds of Islamic Trade Finance Corporation

    While continuing to enhance cooperation with the Islamic Development Bank (IDB) to finance small and medium-sized enterprises' import-oriented trading, the Azerbaijani Amrahbank drew funds from the Islamic Trade Finance Corporation (ITFC), belonging to the IDB, the bank said.

    Source: Trend Capital - 15 Jul, 2009

  • Badr Al-Islami launches income fund

    In response to the growing demand for Shariah compliant financial instruments, Mashreq Capital DIFC Ltd which is regulated by the DFSA has launched the Badr Al-Islami Income Fund in partnership with Badr Al-Islami, the Islamic banking division of Mashreq Bank psc.

    Source: Press Release - 07 Jul, 2009

  • Allianz Takaful to launch Islamic pensions in 2010

    LONDON, July 1 (Reuters) - Allianz (ALVG.DE) will launch its first Islamic annuity product next year, the head of its Takaful unit said, tapping into a growing number of clients in the Middle East keen to add to their state pensions.

    Source: Reuters - 01 Jul, 2009

  • Russell-Jadwa launches Shariah Indexes

    London — June 24, 2009 — Russell Investments (Russell) and Jadwa Investment (Jadwa) today signed an agreement to launch a new Shariah compliant offering, the Russell-Jadwa Shariah Index family. The signing ceremony was attended by HRH Prince Faisal bin Salman, Chairman of Jadwa, Mr. Andrew Doman, President and CEO of Russell and senior managers of both companies.

    Source: Press Release - 24 Jun, 2009

  • Customer-centric strategy ensures better Islamic funds: Al-Khabeer

    JEDDAH - The global financial crisis that sent the conventional banking system reeling turned out to be a classic case of "a blessing in disguise" event for the Islamic financial system as it demonstrates to be a more viable and safe form of managing assets.

    Source: Saudi Gazette - 22 Jun, 2009

  • Islamic funds outperform peers

    GCC-focused Islamic funds have registered average returns of 16.8 per cent year-to-date (YTD), outperforming their conventional peers, which have managed just 14.2 per cent, Emirates Business research has revealed.

    Source: Business 24|7 - 22 Jun, 2009

  • Bahrain faces acid test in $500m Sukuk offering

    (MENAFN - Arab News) Judging by the oversubscription of Bahrain's latest local currency Sukuk offerings, market demand is steadily returning to pre-early 2008 levels as pricing and yields become more competitive and attractive.

    Source: MENAFN - 09 Jun, 2009

  • Australia attracts Islamic investors

    (MENAFN - Arab News) The first onshore Shariah-compliant real estate fund in the Australian market, The LM Australian Alif Fund, was officially launched at end of May in Bahrain.

    Source: MENAFN - 08 Jun, 2009

  • Ithmaar wins global honour

    A Bahrain-based bank has won a major Islamic investment award in recognition of its "international leadership".

    Source: Gulf Weekly - 03 Jun, 2009

  • HSBC launches $100m Amanah Sukuk Fund

    HSBC yesterday launched $100 million (Dh367m) HSBC Amanah Sukuk Fund in the UAE, offering mid to high single digit returns to investors, the bank said yesterday.

    Source: Business 24|7 - 02 Jun, 2009

  • ADB, IDB to set up $500 mln Islamic infrastructure fund

    KUALA LUMPUR, June 2 (Reuters) - Asian Development Bank and the Islamic Development Bank will set up a $500 million sharia fund to help plug a gap in infrastructure needs in Asian economies, ADB said on Tuesday.

    Source: Reuters - 02 Jun, 2009

  • Investments based on Shariah cross $1.5tr

    (MENAFN - Arab News) With investors globally holding more than $1.5 trillion in Shariah-compliant investments, there is a need to create adequate and straightforward regulation for Islamic investment instruments that industry players can use to grow their activities, a senior official at the Central Bank of Bahrain (CBB) said recently.

    Source: MENAFN - 01 Jun, 2009

  • National Bank of Kuwait launches Islamic fund

    (MENAFN - Kuwait News Agency (KUNA)) National Bank of Kuwait (NBK) announced Sunday the launch of the first edition of its Islamic Ijara KD series, Islamic KD Ijara Fund I.

    Source: MENAFN - 31 May, 2009

  • Growth of Islamic funds in Asia, Middle East stalls: E&Y report

    SINGAPORE: A report by accounting and advisory firm Ernst & Young has found that the growth of Islamic funds in Asia and the Middle East has stalled.

    Source: Channel NewsAsia - 29 May, 2009

  • Salama in tie-up to offer three Islamic funds

    Salama, the world's largest takaful and re-takaful group, has tied up with Crédit Agricolé Asset Management (Caam) Group to offer a bouquet of Shariah-compliant funds to investors.

    Source: Business 24|7 - 28 May, 2009

  • Islamic finance sector 'set to bounce back'

    MANAMA: Islamic finance and banking have proved more resilient than conventional finance, according to BMB Islamic UK chief executive officer Dr Humayon Dar.

    Source: Gulf Daily News - 27 May, 2009

  • Growth of Islamic funds stalls but investable assets increase

    Dubai: Sharia-sensitive investable assets in 2008 in the GCC and Asia touched $736 billion (Dh2.7 trillion) compared to $267 billion (Dh980 billion) in 2007, said the latest report by Ernst & Young.

    Source: Gulfnews - 25 May, 2009

  • Islamic funds have increasingly global appeal

    The continued growing international interest in the 5th Annual World Islamic Funds and Capital Markets Conference (WIFCMC 2009

    Source: AME Info - 19 May, 2009

  • Dubai Islamic Bank expands product portfolio with Al Islami Takaful Programme

    Dubai Islamic Bank (DIB) announced the launch of Al Islami Takaful Programme, its Sharia-compliant savings plan with Takaful benefits.

    Source: Al Bawaba - 18 May, 2009

  • Prudential Fund taps Islamic finance and retirement planning

    KUALA LUMPUR: Prudential Fund Management Bhd is getting set to tap the vast growth potential in two areas – Islamic financial segment and retirement planning, says chief executive officer-designate Thomas Cheong.

    Source: Thestar.com - 18 May, 2009

  • Indonesian Islamic Bonds Gain a Foothold

    After some startup teething problems and corruption, sukuk starts to work

    Source: Asia Sentinel - 03 May, 2009

  • Saudi to set up SR20bn investment firm

    Saudi Arabia, the biggest economy in the Middle East, will start operations of a SR20 billion ($5.33bn /Dh19.5bn) investment company in six months.

    Source: Business 24|7 - 29 Apr, 2009

  • Qatar in talks to buy stake in Porsche

    Qatar is in talks to buy a stake in Germany's Porsche and may also invest in other carmakers as the Gulf gas exporter looks to park some of its sovereign wealth abroad, according to media reports.

    Source: Busienss 24|7 - 28 Apr, 2009

  • Deyaar to launch two funds worth Dh1bn

    Deyaar Development will launch two Shariah-compliant funds worth Dh1 billion in the next couple of months to buy distressed properties, including its own, in the Middle East, a top company executive said.

    Source: Business 24|7 - 28 Apr, 2009

  • Global Investment House plans to increase capital

    Kuwait's Global Investment House is considering a capital hike after it swung into a loss last year, its chairwoman said yesterday, sending its stock up almost eight per cent.

    Source: Business 24|7 - 28 Apr, 2009

  • Adic to launch five funds in the next few weeks

    Abu Dhabi Investment Company (Adic) will launch five funds, including an international real estate fund, in the course of next few weeks.

    Source: Business 24|7 - 22 Apr, 2009

  • ADIC to launch international real estate fund

    The Abu Dhabi Investment Company, whose real estate arm focuses on mixed-use developments in the MENA region, believes there is a 'window of opportunity' amid declining values.

    Source: Private Equity Real Estate - 22 Apr, 2009

  • Mena markets outperform global indices

    Equity markets in the region have outperformed both developed and developing countries and, with a low correlation with main asset classes...

    Source: Business 24|7 - 14 Apr, 2009

  • BLME forced to delay fund launches

    BLME forced to delay fund launches

    LONDON (Reuters) - The UK's largest Islamic compliant bank, Bank of London and the Middle East (BLME), has delayed a number of fund launches as the financial crisis constrains clients in the Middle East, its CEO said on Tuesday.

    Source: Reuters - 14 Apr, 2009

  • Ithmaar Bank Delays $500 Million Latin American Property Fund

    Ithmaar Bank BSC, the Bahrain-based Islamic investment bank which also trades in Kuwait, put on hold a $500 million fund to invest in Latin American property markets.

    Source: Bloomberg - 06 Apr, 2009

  • Assets of sovereign wealth fund grow to $3.2trn in Q1

    Aggregate assets under management by SWFs hit $3.22 trillion in the first quarter of this year, a growth of six per cent from a year ago and 59 per cent from the 2007 figure of $2.02trn, new data showed yesterday.

    Source: Business 24|7 - 29 Mar, 2009

  • Riyadh starts fund to oversee investment

    Saudi Arabia is establishing a new company to oversee the investment of the assets of the oil-rich kingdom’s largest state-run pension fund, in a significant break from tradition.

    Source: Financial Times - 23 Mar, 2009

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