Tuesday, November 28, 2006

Halal Industry Development Corp, WIBC 2006, Islamic Development Bank, Corporate governance

Halal Industry Development Corp (HDC)

"HDC Teams Up With OIC-linked ICCI To Tackle World's Halal Mart", Bernama, November 28, 2006

The newly-formed, Malaysian-based Halal Industry Development Corp (HDC) will team up with the Islamic Chamber of Commerce & Industry (ICCI), the private sector representative of the Organization of the Islamic Conference. The HDC and ICCI will oversee a fund that invests in Halal industry. The current president of the ICCI, Sheikh Saleh Kamil (president of the Dallah AlBaraka Group and pioneer of Islamic banking) provided some directional advise, recommending that the fund will be far more effective if it invests across OIC member countries and work to move away from Shari'ah compliant and towards Shari'ah-based financial products.

World Islamic Banking Conference (WIBC)

"International experts to address growth, profitability and the way forward for the global Islamic banking industry", AMEinfo, November 28, 2006

A description of the PowerTable at the 13th Annual WIBC 2006, December 9 - 11, 2006 in Manama, Bahrain.

WIBC is listed in IHI's "Conference Listings".

Islamic Development Bank $10 billion fund to fight poverty

"Islamic bank to raise $10 bln for needy Africans", Reuters Foundation AlertNet, November 28, 2006

The Islamic Development Bank plans to raise an additional $10 billion over the next 10 years to fight extreme poverty in developing countries, with a focus on Africa.

Corporate governance & Islamic financial institutions

"Hawkamah's First Mena Conference Issues Dubai Declaration On Corporate Governance", Dubai City Guide, November 28, 2006

The resulting Declaration on Corporate Governance is summarized in the article. While it focuses on the whole MENA region, it does specifically try to include corporate governance issues for Shari'ah-compliant financial institutions.

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