"EDC poised to increase Islamic financing business to develop new markets for Canadian exporters", Government of Canada News, October 23, 2006
Export Development Canada (EDC) has signed a Memorandum of Understanding (MoU) with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IDB). The MoU begins a commitment by the Canadian government to work with Islamic financial institutions (IFIs) in order to increase opportunities for export by Canadian firm. The EDC provides export credit to Canadian firms. The ICIEC provides takaful (Shari'ah-compliant insurance) for firms exporting to countries in the Organization of the Islamic Conference (OIC) and to assist companies wishing to invest in OIC countries.
"Clifford Chance, DWS handed rolse on LSE sukuk flotation", The Lawyer, October 23, 2006
The Sharjah Islamic Bank (SIB) issued a five-year sukuk on the London Stock Exchange. The certificates represent a share of assets purchased by a special purpose vehicle (SPV) from the SIB. The distribution paid to holders of the certificates come from income generated by the underlying assets. The sukuk issue were announced on September 19, 2006.
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