Sukuk (Islamic Bonds)

Sukuk is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. However, fixed-income, interest-bearing bonds are not permissible in Islam. Hence, Sukuk are securities that comply with the Islamic law (Shariah) and its investment principles, which prohibit the charging or paying of interest. Financial assets that comply with the Islamic law can be classified in accordance with their tradability and non-tradability in the secondary markets.Conservative estimates suggest that over US$500 billion of assets are managed according to Islamic investment principles.Sukuk (Arabic: صكوك‎, plural of صك Sakk, "legal instrument, deed, check") is the Arabic name for a financial certificate but can be seen as an Islamic...

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Bahrain Plans to Open Islamic Bank in Russia

On December 2,2008 in Moscow under the patronage of the Chamber of Commerce and Industry of the Russian Federation and with the support of the Russian – Arabic Business Council the Russian – Bahrain Business Forum took place, commemorated to the official visit of the King of Bahrain Hamad Ben Isa Al Halifa to the Russian Federation. Russian and Bahraini businesses took part in the Forum. In his greeting speech the minister of industry and trade of Bahrain Hasab Ben Abdalla Fahro stated that he put high hopes on the results of the present Forum as he considered that Russian and Bahraini businessmen had vast space for cooperation.The Chairman of the board of Directors of CCI of Bahrain Isam Abdallah Fahro noted that the financial crisis notwithstanding...

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iB Award, as the Manifestation of Central Bank Appreciation Toward Islamic Banks

Selasa, 10 Pebruari 2009Jakarta (10/2). At the last day of Festival Ekonomi Syariah 2009 (Islamic Finance Exhibition) at Jakarta Convention Centre (JCC) Senayan, Bank Indonesia has presented the iB award, whereas Bank Syariah Mandiri was the winner for 2 catogories, human resources development and productivity outlet, while the winner for the best market share was BNI syariah and the winner for best Quality was CIMB Niaga syariah.The iB (Islamic banking) award is the manifestation of appreciation from Bank Indonesia as the Central Bank toward Islamic Bank's performance in applying the Islamic Finance concepts in Indonesia.Apart from iB award, there were other awards presented for the best kiosk of banking sector where the winner was CIMB...

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Excellent Career

Bank Negara Malaysia as the Central Bank, has the envious task of leading and molding the growth and development of the nation’s financial system. We are committed to excellence in promoting monetary and financial system stability and fostering a sound and progressive financial sector to achieve sustained economic growth for the benefit of the nation. Over the years our roles and responsibilities have evolved and part of the growth includes our ability to attract the most intelligent and talented group of people in the nation. Be a true asset and rise to the challenge by applying to the job below.Senior Executive - Islamic Banking & Takaful (Shariah)(Kuala Lumpur - Head Office)Responsibilities:-->Key ResponsibilitiesTo assist Manager...

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IDB & IFSB Meet to Reduce Liquidity Gap Faced by Islamic Financial Services

IDB - Jeddah,27.1.09In a collaborative effort between the Islamic Development Bank and the Islamic Financial Services Board (IFSB), a meeting at IDB headquarters in Jeddah was held recently to discuss liquidity management issues in the Islamic financing sector. A number of key issues were discussed during the one day meeting comprising liquidity management, institutional development, and the role of regulatory and organizing bodies.The meeting called for the formation of a supervisory board that would work towards developing markets, products and institutions to enhance liquidity for the Islamic Financial Services. The board members will be chosen from the financial services institutions and supported by the IDB. The meeting also recommended...

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The President Encourage the acceleration growth of Indonesia's Islamic Banking System

Jakarta (5/2) In respond to the positive development of Indonesia’ Islamic banking system, The President, Mr. Susilo Bambang Yudhoyono (SBY) has expressed his support for the acceleration growth of Islamic banking system in this country at the Festival Ekonomi Syariah (FES)- the Festival of Islamic Finance at JCC Senayan – Jakarta in the opening ceremony yesterday,(4/2).The Islamic banking assets, in year 2003 it has increased to IDR 5.71 trillions, in year 2007 it has increased to IDR 28.1 trillions and in year 2008 it has increased to IDR 36.85 trillions.“Apart from that the Islamic financing has grown as well, in year 2003, it was IDR 5.3 trillions, in year 2007 it was IDR 27. 94 trillions and in year 2008 increased to IDR 38.19 trillion”...

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